Nanjing Iron & Steel 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	2,867	2,261	2,125	2,161	4,204
Depreciation & Amortization	2,616	2,590	2,574	2,276	1,979
Other Amortization	60.26	8.83	10.28	2.75	1.62
Loss (Gain) From Sale of Assets	3.4	-	0.02	-9.51	0.03
Asset Writedown & Restructuring Costs	150.65	108.13	39.72	182.8	442.78
Loss (Gain) From Sale of Investments	-534.01	57.99	-52.59	-42.26	-341.85
Provision & Write-off of Bad Debts	70.01	49.27	42.43	-8.74	24.81
Other Operating Activities	994.41	917.08	1,077	1,084	525.09
Change in Accounts Receivable	-1,677	679.81	-3,236	-5,852	-5,688
Change in Inventory	-34.04	373.64	-2,093	1,902	-1,493
Change in Accounts Payable	-951.17	-3,758	2,345	2,205	5,485
Change in Other Net Operating Assets	4.91	12.17	37.08	-	-
Operating Cash Flow	3,674	3,221	2,675	3,753	5,233
Operating Cash Flow Growth	14.06%	20.39%	-28.71%	-28.29%	104.01%
Capital Expenditures	-2,677	-2,044	-3,951	-4,454	-2,932
Sale of Property, Plant & Equipment	41.71	23.57	17.16	95.42	28.18
Cash Acquisitions	-	-	0	213.25	-101.59
Divestitures	1,596	-	-128.83	2.01	83.93
Investment in Securities	-805.12	950.4	606.78	-680.14	-3,056
Other Investing Activities	101.24	94.74	146.47	182.94	96.71
Investing Cash Flow	-1,742	-975.78	-3,310	-4,641	-5,881
Long-Term Debt Issued	38,768	33,764	42,584	36,144	31,098
Long-Term Debt Repaid	-38,394	-33,259	-42,343	-27,306	-28,541
Net Debt Issued (Repaid)	374.39	504.13	241.53	8,838	2,556
Issuance of Common Stock	-	-	-	48.9	70.13
Common Dividends Paid	-1,804	-3,029	-2,285	-2,601	-2,097
Other Financing Activities	-1.28	1,208	1,108	-3,102	-99
Financing Cash Flow	-1,431	-1,317	-935.14	3,185	430.08
Foreign Exchange Rate Adjustments	-3.54	-25.3	46.25	34.41	-32.53
Net Cash Flow	497	902.38	-1,523	2,331	-250.28
Free Cash Flow	997.02	1,176	-1,276	-701.87	2,301
Free Cash Flow Growth	-15.24%	-	-	-	-
Free Cash Flow Margin	1.72%	1.90%	-1.76%	-0.99%	3.00%
Free Cash Flow Per Share	0.16	0.19	-0.21	-0.11	0.38
Cash Income Tax Paid	1,829	864.46	1,207	1,277	2,188
Levered Free Cash Flow	3,774	-3,635	-2,452	1,585	3,401
Unlevered Free Cash Flow	4,200	-3,157	-1,945	1,990	3,679
Change in Working Capital	-2,555	-2,771	-3,141	-1,894	-1,602

Source: S&P Global Market Intelligence. Standard template. Financial Sources.