Hsino Tower Group 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	371.15	230.12	124.04	165.75	206.94
Depreciation & Amortization	115.71	100.68	96.97	90.25	80.37
Other Amortization	3.35	13.22	4.96	0.01	1.13
Loss (Gain) From Sale of Assets	-76.2	0.73	3.94	2.26	-
Asset Writedown & Restructuring Costs	60.8	4.2	-0.77	-	52.17
Loss (Gain) From Sale of Investments	-5.22	-1.02	0.5	4.37	-1.1
Provision & Write-off of Bad Debts	-	2.01	10.77	2.41	23.17
Other Operating Activities	34.56	49.24	39.72	73.56	78.01
Change in Accounts Receivable	214.84	-128.94	-162.98	128.86	224.75
Change in Inventory	-268.43	343.79	520.4	-29.99	-1,389
Change in Accounts Payable	88.52	297.58	281.82	216.56	1,023
Operating Cash Flow	532.24	903.29	917.24	639.12	321.52
Operating Cash Flow Growth	-41.08%	-1.52%	43.52%	98.78%	-72.54%
Capital Expenditures	-378.47	-218.93	-84.81	-50.01	-57.5
Sale of Property, Plant & Equipment	5.23	2.74	3.62	2.19	3.61
Investment in Securities	138.68	-435	-3.88	-	-5
Other Investing Activities	85.17	200.36	-	-	-
Investing Cash Flow	-149.4	-450.82	-85.07	-47.82	-58.89
Long-Term Debt Issued	562.41	773.65	1,114	3,697	3,304
Long-Term Debt Repaid	-635.42	-1,165	-1,751	-4,353	-3,027
Net Debt Issued (Repaid)	-73.01	-391.72	-636.51	-656.01	276.87
Issuance of Common Stock	-	-	1,072	-	-
Common Dividends Paid	-116	-78.33	-12.28	-114.91	-200.53
Other Financing Activities	-14.12	-4.37	16.09	-0.99	19.12
Financing Cash Flow	-203.14	-474.43	439.1	-771.92	95.46
Foreign Exchange Rate Adjustments	1.39	1.36	0.36	-2.69	-0.31
Net Cash Flow	181.1	-20.59	1,272	-183.3	357.79
Free Cash Flow	153.76	684.36	832.43	589.12	264.02
Free Cash Flow Growth	-77.53%	-17.79%	41.30%	123.14%	-76.74%
Free Cash Flow Margin	1.61%	6.75%	8.96%	6.72%	3.69%
Free Cash Flow Per Share	0.06	0.26	0.41	0.29	0.13
Cash Income Tax Paid	242.65	233.05	196.84	203.31	142.95
Levered Free Cash Flow	-148.94	1,205	720.71	473.4	115.09
Unlevered Free Cash Flow	-148.94	1,214	733.56	500.98	160.83
Change in Working Capital	28.1	504.11	637.1	300.52	-119.17

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