CITIC Metal 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	2,689	2,238	2,057	2,215	1,823
Depreciation & Amortization	14.2	32.03	44.75	110.45	63.07
Other Amortization	0.81	3.24	2.79	2.75	3.35
Loss (Gain) From Sale of Assets	-	-37.17	-27.82	-0.02	-69.19
Asset Writedown & Restructuring Costs	-242.89	-181.51	-242.55	7.56	192.49
Loss (Gain) From Sale of Investments	-2,167	-2,087	-1,250	-1,418	8.96
Provision & Write-off of Bad Debts	-	8.45	-14.45	-10.03	-
Other Operating Activities	647.29	1,111	818.46	559.07	-1,437
Change in Accounts Receivable	-2,841	-1,772	522.38	290.06	-1,335
Change in Inventory	-3,124	417.23	-1,838	-340.82	-4,729
Change in Accounts Payable	4,879	924.72	320.96	-1,459	2,306
Change in Unearned Revenue	-	-	-	-	-0.43
Operating Cash Flow	187.05	866.29	444.84	51.65	-3,220
Operating Cash Flow Growth	-78.41%	94.74%	761.30%	-	-
Capital Expenditures	-40.49	-5.68	-3.71	-5.78	-14.09
Sale of Property, Plant & Equipment	-	-	0	0.04	15.73
Investment in Securities	-576.13	1,072	-97.69	393.24	2,081
Other Investing Activities	2,088	105.61	126.95	97.8	109.52
Investing Cash Flow	1,471	1,172	25.55	485.3	2,192
Long-Term Debt Issued	44,043	67,942	60,149	61,997	61,611
Long-Term Debt Repaid	-43,866	-68,003	-59,981	-62,815	-58,041
Net Debt Issued (Repaid)	177.13	-60.71	167.81	-817.43	3,570
Issuance of Common Stock	-	-	3,222	-	-
Common Dividends Paid	-1,523	-1,706	-1,519	-1,036	-384.85
Other Financing Activities	-167.9	-	-	-	-0.39
Financing Cash Flow	-1,514	-1,766	1,871	-1,853	3,184
Foreign Exchange Rate Adjustments	-54.95	7.28	47.79	71.35	-23.26
Net Cash Flow	89.76	279.26	2,389	-1,245	2,133
Free Cash Flow	146.56	860.61	441.14	45.87	-3,234
Free Cash Flow Growth	-82.97%	95.09%	861.71%	-	-
Free Cash Flow Margin	0.10%	0.66%	0.35%	0.04%	-2.87%
Free Cash Flow Per Share	0.03	0.18	0.09	0.01	-0.73
Cash Income Tax Paid	557.32	317.91	378.82	-14.24	580.27
Levered Free Cash Flow	323.04	-139.5	-17.92	-2,444	-2,760
Unlevered Free Cash Flow	323.04	464.55	544.1	-2,145	-2,647
Change in Working Capital	-755.24	-220.3	-944.18	-1,415	-3,805

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