Shanghai Shentong Metro 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	35.66	51.82	72.47	73.02	72.39	73.82
Depreciation & Amortization	15.37	15.37	13.13	11.59	7.48	3.44
Other Amortization	0.83	0.83	0.6	2.31	1.39	0.57
Loss (Gain) From Sale of Assets	0.04	0.04	0.01	-	-	-
Asset Writedown & Restructuring Costs	-5.64	-5.64	7.53	3.81	0.32	4.74
Loss (Gain) From Sale of Investments	-10.61	-10.61	-20.89	-41.05	-51.12	-58.72
Provision & Write-off of Bad Debts	-2.99	-2.99	3.15	0.45	-0.37	-2
Other Operating Activities	-12.83	25.21	24.08	19.68	17.97	8.48
Change in Accounts Receivable	68.57	68.57	-1,584	-670.67	537.75	-178.38
Change in Inventory	18.7	18.7	-14.55	-5.54	-4.94	-7.24
Change in Accounts Payable	650.61	650.61	1,294	668.98	-0.8	-2.26
Change in Other Net Operating Assets	15.88	15.88	19.49	16.68	38.8	42.06
Operating Cash Flow	775.6	829.8	-186.43	77.15	618.19	-115.52
Operating Cash Flow Growth	49.45%	-	-	-87.52%	-	-
Capital Expenditures	-223.08	-66.6	-39.36	-29.41	-45.69	-45
Sale of Property, Plant & Equipment	0.02	0.02	0.01	0.01	-	-
Cash Acquisitions	-	-60.18	-	-	-	-
Investment in Securities	-242.38	-235.67	150	179.63	-14.7	-4.9
Other Investing Activities	23.89	9.77	29.68	44.09	59.14	196.64
Investing Cash Flow	-441.54	-352.66	140.33	194.32	-1.25	146.73
Long-Term Debt Issued	-	60.36	1,003	632.9	577.1	429.93
Total Debt Issued	31.59	60.36	1,003	632.9	577.1	429.93
Long-Term Debt Repaid	-	-403.28	-1,212	-1,050	-559.46	-544.67
Total Debt Repaid	-353.93	-403.28	-1,212	-1,050	-559.46	-544.67
Net Debt Issued (Repaid)	-322.34	-342.92	-208.43	-417.32	17.64	-114.74
Common Dividends Paid	-20.6	-43.79	-49.51	-37.98	-59.85	-66.52
Other Financing Activities	-	-	-3.23	2.45	-6.13	-
Financing Cash Flow	-342.93	-386.71	-261.18	-452.85	-48.33	-181.27
Foreign Exchange Rate Adjustments	-	-0	-	-	-0	-
Net Cash Flow	-8.88	90.43	-307.28	-181.38	568.61	-150.05
Free Cash Flow	552.52	763.2	-225.8	47.74	572.5	-160.52
Free Cash Flow Growth	20.23%	-	-	-91.66%	-	-
Free Cash Flow Margin	96.88%	130.27%	-36.08%	13.91%	164.28%	-53.27%
Free Cash Flow Per Share	1.09	1.60	-0.47	0.10	1.20	-0.34
Cash Income Tax Paid	41.02	55.97	47.09	43.6	40.28	34.41
Levered Free Cash Flow	-134.43	71.31	531.01	-120	-699.11	744.3
Unlevered Free Cash Flow	-131.21	78.21	541.76	-109.64	-693.15	746.7
Change in Working Capital	755.77	755.77	-286.5	7.34	570.14	-145.85

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