Hsino Tower Group 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	334.62	230.12	124.04	165.75	206.94	521.93
Depreciation & Amortization	100.68	100.68	96.97	90.25	80.37	77.02
Other Amortization	13.22	13.22	4.96	0.01	1.13	0.77
Loss (Gain) From Sale of Assets	0.73	0.73	3.94	2.26	-	-
Asset Writedown & Restructuring Costs	4.2	4.2	-0.77	-	52.17	49.19
Loss (Gain) From Sale of Investments	-1.02	-1.02	0.5	4.37	-1.1	-0.14
Provision & Write-off of Bad Debts	2.01	2.01	10.77	2.41	23.17	-0.01
Other Operating Activities	-55.25	49.24	39.72	73.56	78.01	163.35
Change in Accounts Receivable	-128.94	-128.94	-162.98	128.86	224.75	285.23
Change in Inventory	343.79	343.79	520.4	-29.99	-1,389	271.06
Change in Accounts Payable	297.58	297.58	281.82	216.56	1,023	-318.83
Operating Cash Flow	903.29	903.29	917.24	639.12	321.52	1,171
Operating Cash Flow Growth	9.41%	-1.52%	43.52%	98.78%	-72.54%	134.43%
Capital Expenditures	-412.13	-218.93	-84.81	-50.01	-57.5	-35.73
Sale of Property, Plant & Equipment	3.54	2.74	3.62	2.19	3.61	0.59
Investment in Securities	16.15	-435	-3.88	-	-5	9.19
Other Investing Activities	199.72	200.36	-	-	-	-
Investing Cash Flow	-192.73	-450.82	-85.07	-47.82	-58.89	-25.95
Long-Term Debt Issued	-	773.65	1,114	3,697	3,304	4,563
Long-Term Debt Repaid	-	-1,165	-1,751	-4,353	-3,027	-7,165
Net Debt Issued (Repaid)	-350.72	-391.72	-636.51	-656.01	276.87	-2,602
Issuance of Common Stock	-	-	1,072	-	-	1,600
Common Dividends Paid	-147.83	-78.33	-12.28	-114.91	-200.53	-152.61
Other Financing Activities	11.25	-4.37	16.09	-0.99	19.12	-4.39
Financing Cash Flow	-487.3	-474.43	439.1	-771.92	95.46	-1,159
Foreign Exchange Rate Adjustments	3.19	1.36	0.36	-2.69	-0.31	-0.39
Net Cash Flow	226.45	-20.59	1,272	-183.3	357.79	-14.84
Free Cash Flow	491.16	684.36	832.43	589.12	264.02	1,135
Free Cash Flow Growth	-34.15%	-17.79%	41.30%	123.14%	-76.74%	156.70%
Free Cash Flow Margin	4.96%	6.75%	8.96%	6.72%	3.69%	18.58%
Free Cash Flow Per Share	0.18	0.26	0.41	0.29	0.13	1.06
Cash Income Tax Paid	297.66	233.05	196.84	203.31	142.95	302.65
Levered Free Cash Flow	759.03	1,205	720.71	473.4	115.09	865.37
Unlevered Free Cash Flow	767.78	1,214	733.56	500.98	160.83	961.5
Change in Working Capital	504.11	504.11	637.1	300.52	-119.17	358.54

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