Shanghai Shentong Metro 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	54.22	51.82	72.47	73.02	72.39
Depreciation & Amortization	34.28	15.37	13.13	11.59	7.48
Other Amortization	1.45	0.83	0.6	2.31	1.39
Loss (Gain) From Sale of Assets	0.03	0.04	0.01	-	-
Asset Writedown & Restructuring Costs	-6.49	-5.64	7.53	3.81	0.32
Loss (Gain) From Sale of Investments	-21.2	-10.61	-20.89	-41.05	-51.12
Provision & Write-off of Bad Debts	1.66	-2.99	3.15	0.45	-0.37
Other Operating Activities	18.57	25.21	24.08	19.68	17.97
Change in Accounts Receivable	500.51	68.57	-1,584	-670.67	537.75
Change in Inventory	-0.1	18.7	-14.55	-5.54	-4.94
Change in Accounts Payable	1.91	650.61	1,294	668.98	-0.8
Change in Other Net Operating Assets	0.18	15.88	19.49	16.68	38.8
Operating Cash Flow	585.59	829.8	-186.43	77.15	618.19
Operating Cash Flow Growth	-29.43%	-	-	-87.52%	-
Capital Expenditures	-203.27	-66.6	-39.36	-29.41	-45.69
Sale of Property, Plant & Equipment	0	0.02	0.01	0.01	-
Cash Acquisitions	-	-60.18	-	-	-
Divestitures	-7.49	-	-	-	-
Investment in Securities	-500.72	-235.67	150	179.63	-14.7
Other Investing Activities	27.98	9.77	29.68	44.09	59.14
Investing Cash Flow	-683.49	-352.66	140.33	194.32	-1.25
Long-Term Debt Issued	14.41	60.36	1,003	632.9	577.1
Total Debt Issued	14.41	60.36	1,003	632.9	577.1
Long-Term Debt Repaid	-97.78	-403.28	-1,212	-1,050	-559.46
Total Debt Repaid	-97.78	-403.28	-1,212	-1,050	-559.46
Net Debt Issued (Repaid)	-83.38	-342.92	-208.43	-417.32	17.64
Common Dividends Paid	-22.18	-43.79	-49.51	-37.98	-59.85
Other Financing Activities	-	-	-3.23	2.45	-6.13
Financing Cash Flow	-105.56	-386.71	-261.18	-452.85	-48.33
Foreign Exchange Rate Adjustments	-	-0	-	-	-0
Net Cash Flow	-203.46	90.43	-307.28	-181.38	568.61
Free Cash Flow	382.32	763.2	-225.8	47.74	572.5
Free Cash Flow Growth	-49.91%	-	-	-91.66%	-
Free Cash Flow Margin	64.11%	130.27%	-36.08%	13.91%	164.28%
Free Cash Flow Per Share	0.80	1.60	-0.47	0.10	1.20
Cash Income Tax Paid	40.74	55.97	47.09	43.6	40.28
Levered Free Cash Flow	-727.19	72.01	531.01	-120	-699.11
Unlevered Free Cash Flow	-725.54	78.91	541.76	-109.64	-693.15
Change in Working Capital	503.06	755.77	-286.5	7.34	570.14

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