Cangzhou Dahua Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	54.13	27.74	190.41	420.1	-32.26	36.94
Depreciation & Amortization	510.71	510.71	506.25	440.82	286.62	251.62
Other Amortization	3.29	3.29	1.75	1.75	1.46	-
Loss (Gain) From Sale of Assets	-0.54	-0.54	-0	-0.29	-0.03	-89.14
Asset Writedown & Restructuring Costs	-	-	2.27	2.16	3.12	12.86
Loss (Gain) From Sale of Investments	10.16	10.16	8.53	1.52	-2.84	-2.94
Provision & Write-off of Bad Debts	-0.03	-0.03	-0.06	0.32	-0.02	-0.29
Other Operating Activities	-38.55	17.32	64.75	58.01	-13.8	-12.79
Change in Accounts Receivable	1.93	1.93	79.12	10.99	-225.98	-260.13
Change in Inventory	68.18	68.18	21.66	-104.78	-125.41	-53.25
Change in Accounts Payable	-228.37	-228.37	-25.68	-298.25	267.5	290.87
Operating Cash Flow	380.29	409.77	854.85	527.87	185.49	170.91
Operating Cash Flow Growth	-23.13%	-52.06%	61.94%	184.58%	8.53%	40.35%
Capital Expenditures	-200.87	-61.89	-63.73	-402.13	-1,164	-1,108
Sale of Property, Plant & Equipment	0	180.36	9.43	0.95	0.03	0.12
Investment in Securities	-	-	-	-	-12.96	-
Other Investing Activities	-	-	-	-	-	2.94
Investing Cash Flow	-200.87	118.48	-54.3	-401.19	-1,177	-1,105
Long-Term Debt Issued	-	1	1,273	836.74	284.5	766.75
Long-Term Debt Repaid	-	-221.16	-1,990	-888.21	-61.55	-14
Net Debt Issued (Repaid)	19.46	-220.16	-717.51	-51.47	222.95	752.75
Issuance of Common Stock	-	-	-	-	38.11	-
Repurchase of Common Stock	-10.28	-10.28	-12.37	-1.36	-	-
Common Dividends Paid	-19.12	-51.75	-110.53	-73.23	-65.94	-45.58
Other Financing Activities	14.94	-	-	-	-	-
Financing Cash Flow	5	-282.19	-840.41	-126.06	195.12	707.17
Foreign Exchange Rate Adjustments	-27.96	4.1	3.48	5.89	3.48	-9.84
Net Cash Flow	156.46	250.16	-36.38	6.51	-792.53	-236.43
Free Cash Flow	179.42	347.89	791.12	125.73	-978.2	-936.82
Free Cash Flow Growth	-59.71%	-56.03%	529.21%	-	-	-
Free Cash Flow Margin	3.84%	6.86%	16.25%	2.56%	-32.30%	-56.66%
Free Cash Flow Per Share	0.46	0.88	1.91	0.30	-2.38	-2.27
Cash Income Tax Paid	9.71	27.75	97.98	-101.03	-52.33	-234.42
Levered Free Cash Flow	374.33	636.39	647.52	141.88	-638.46	-507.8
Unlevered Free Cash Flow	381.14	645.37	671.39	178.61	-635.65	-507.26
Change in Working Capital	-158.88	-158.88	80.97	-396.53	-56.77	-25.35

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.