SGX:QES Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	404.9	423.86	372.47	642.44	506.33
Depreciation & Amortization	145.9	132.95	150.74	163.31	130.23
Loss (Gain) From Sale of Assets	-	-4.99	-	-0.08	0.7
Asset Writedown & Restructuring Costs	2.9	2.91	6.11	3.04	4.82
Loss (Gain) From Sale of Investments	8.8	-	-	-	-
Provision & Write-off of Bad Debts	-	-2.09	0.58	-3.58	0.05
Other Operating Activities	-103.8	-6.4	-93.09	-26.26	50.16
Change in Accounts Receivable	141	97.21	116.21	-273.61	-389.49
Change in Inventory	3.4	-22.35	61.54	-45.51	-159.8
Change in Accounts Payable	24.5	-48.08	-20.74	-244.53	214.9
Change in Unearned Revenue	-	0.17	-0.38	-7.74	13.39
Operating Cash Flow	627.6	573.2	593.42	207.49	371.3
Operating Cash Flow Growth	9.49%	-3.41%	186.00%	-44.12%	-13.02%
Capital Expenditures	-251.2	-110.04	-171.2	-86.46	-213.19
Sale of Property, Plant & Equipment	1.1	2.88	0.43	1.45	4.8
Sale (Purchase) of Intangibles	-	-3.75	-2.72	-72.06	-78.36
Other Investing Activities	67.4	55.63	36.02	16.15	24.24
Investing Cash Flow	-182.7	-55.28	-137.47	-140.92	-262.52
Repurchase of Common Stock	-	-12.55	-13.74	-10.64	-0.81
Common Dividends Paid	-105.6	-75.84	-50.55	-47.34	-46.83
Other Financing Activities	-	1.6	-0.97	7.68	-5
Financing Cash Flow	-184.8	-137.36	-141.08	-121.59	-52.64
Foreign Exchange Rate Adjustments	-5.1	6.98	7.16	50.32	-10.08
Net Cash Flow	255	387.54	322.03	-4.71	46.06
Free Cash Flow	376.4	463.16	422.22	121.03	158.11
Free Cash Flow Growth	-18.73%	9.70%	248.86%	-23.45%	4.31%
Free Cash Flow Margin	11.48%	13.18%	12.10%	3.16%	4.24%
Free Cash Flow Per Share	0.40	0.48	0.44	0.13	0.16
Cash Income Tax Paid	149	102.16	133.21	54.26	124.85
Levered Free Cash Flow	281.3	432.07	297.01	71.98	-247.34
Unlevered Free Cash Flow	281.3	432.07	297.01	71.98	-247.34
Change in Working Capital	168.9	26.96	156.63	-571.38	-321

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.