Jiangsu Jiangnan Water Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	360.72	369.63	402	323.39	280.42	276.4
Depreciation & Amortization	239.11	239.11	243.47	261.13	247.2	213.75
Other Amortization	3.76	3.76	5.25	2.77	4.79	3.83
Loss (Gain) on Sale of Assets	-0.01	-0.01	-0.05	-15.79	-0.33	-0.57
Loss (Gain) on Sale of Investments	-132.76	-132.76	-133.45	-32.06	-3.37	-20.02
Asset Writedown	31.81	31.81	-0.19	1.67	0.18	53.75
Change in Accounts Receivable	-205.86	-205.86	-284.14	-45.51	-133.79	-150.45
Change in Inventory	4.82	4.82	-4.26	-3.29	-4.21	-19.77
Change in Accounts Payable	77.3	77.3	164.55	35.35	164.25	127.1
Change in Other Net Operating Assets	-	-	-	-	-0.02	0.26
Other Operating Activities	-74.11	-56.66	-47.28	-45.23	-41.49	-23.44
Operating Cash Flow	290.56	316.93	355.41	480.51	504.07	442.16
Operating Cash Flow Growth	-14.47%	-10.83%	-26.04%	-4.67%	14.00%	-19.47%
Capital Expenditures	-157.41	-160.24	-193.87	-211.63	-662.52	-181.16
Sale of Property, Plant & Equipment	0.29	0.29	0.64	33.69	0.59	1.18
Cash Acquisitions	-	-	-	-	-12.74	-41.83
Investment in Securities	46.71	46.71	-114.64	-358.61	543	901.82
Other Investing Activities	151.42	161.28	140.82	102.53	-380.22	-1,614
Investing Cash Flow	41.01	48.04	-167.04	-434.03	-511.89	-933.75
Long-Term Debt Issued	-	29.97	67.48	639.8	-	-
Long-Term Debt Repaid	-	-29.62	-43	-589.84	-165.31	-111.71
Net Debt Issued (Repaid)	201.15	0.35	24.48	49.96	-165.31	-111.71
Common Dividends Paid	-151.6	-151.51	-139.34	-109.24	-116.35	-111.23
Other Financing Activities	-7.54	-6.84	-0.35	-2.29	-	-
Financing Cash Flow	42.01	-158	-115.21	-61.57	-281.66	-222.94
Net Cash Flow	373.58	206.97	73.15	-15.09	-289.48	-714.53
Free Cash Flow	133.15	156.69	161.54	268.88	-158.45	261
Free Cash Flow Growth	-5.57%	-3.01%	-39.92%	-	-	-29.12%
Free Cash Flow Margin	9.08%	10.74%	10.54%	19.71%	-12.50%	23.44%
Free Cash Flow Per Share	0.14	0.17	0.17	0.29	-0.17	0.28
Cash Income Tax Paid	235.15	231.45	178.07	187.37	114.47	170.39
Levered Free Cash Flow	156.89	161.86	228.5	125.76	-396.47	55.83
Unlevered Free Cash Flow	156.89	161.86	242.77	143.12	-377.19	78.74
Change in Working Capital	-137.96	-137.96	-138.05	-13.72	11.33	-47.52

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