Tianjin Port Holdings 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	980.7	993.63	981.65	740.33	972.83
Depreciation & Amortization	1,244	1,294	1,268	1,255	1,371
Other Amortization	42.69	0.48	0.48	0.43	0.57
Loss (Gain) From Sale of Assets	73.47	0.28	-25.76	10.34	0.86
Asset Writedown & Restructuring Costs	12.38	7.91	5.8	6.63	16.59
Loss (Gain) From Sale of Investments	-360.29	-369.88	-406.92	-483.13	-685.91
Provision & Write-off of Bad Debts	6.22	2.75	2.24	-13.74	2.67
Other Operating Activities	711.85	725.59	684.46	677.53	802.72
Change in Accounts Receivable	-325.62	-151.15	-5.52	1,118	-1,325
Change in Inventory	-15.53	-2.02	35.64	-20.93	123.02
Change in Accounts Payable	206.8	292.56	-138.23	-879.71	1,420
Operating Cash Flow	2,508	2,761	2,378	2,389	2,778
Operating Cash Flow Growth	-9.14%	16.09%	-0.46%	-14.01%	12.79%
Capital Expenditures	-1,325	-947.02	-975.06	-1,147	-943.05
Sale of Property, Plant & Equipment	181.75	43.52	12.62	12.37	15.85
Cash Acquisitions	-	-	-	186.02	-295.19
Divestitures	-66.38	-	-	-	894.59
Investment in Securities	-541.37	-	-	21.22	-191.82
Other Investing Activities	322.53	354.64	345.8	248.97	361.88
Investing Cash Flow	-1,429	-548.86	-616.64	-678.27	-157.75
Long-Term Debt Issued	1,810	1,287	1,675	2,273	3,009
Long-Term Debt Repaid	-2,469	-2,113	-2,078	-4,036	-4,628
Net Debt Issued (Repaid)	-659.25	-826.97	-402.2	-1,764	-1,620
Common Dividends Paid	-285.91	-518.89	-417.7	-806.3	-490.89
Other Financing Activities	-292.67	-295.3	-306.14	392.91	-353.23
Financing Cash Flow	-1,238	-1,641	-1,126	-2,177	-2,464
Foreign Exchange Rate Adjustments	-7.74	4.35	3.31	30.31	-5.46
Net Cash Flow	-165.91	574.9	638.5	-436.37	151.19
Free Cash Flow	1,183	1,814	1,403	1,242	1,835
Free Cash Flow Growth	-34.76%	29.28%	12.96%	-32.32%	1.19%
Free Cash Flow Margin	9.25%	15.02%	11.99%	11.48%	12.68%
Free Cash Flow Per Share	0.41	0.62	0.49	0.44	0.64
Cash Income Tax Paid	681.78	518.89	463.59	401.71	548.21
Levered Free Cash Flow	1,144	1,693	961.9	682.09	1,173
Unlevered Free Cash Flow	1,239	1,834	1,113	865.64	1,424
Change in Working Capital	-203.22	105.7	-131.58	195.16	296.79

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