Huadian Heavy Industries 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	151.19	115.18	97.52	309.94	303.26
Depreciation & Amortization	182.35	264.68	278.2	355.49	301.02
Other Amortization	1.54	3.69	1.49	1.44	0.19
Loss (Gain) From Sale of Assets	-	0.08	0.01	-0.26	-0.29
Asset Writedown & Restructuring Costs	13.03	-19.95	-13.29	5.85	-16.3
Loss (Gain) From Sale of Investments	-0.04	-0.04	0.07	-11.45	-13.9
Provision & Write-off of Bad Debts	-	-5.61	-21.99	-18.79	-9.73
Other Operating Activities	44.26	13.15	-3.12	26.95	21.71
Change in Accounts Receivable	-519.85	124.82	-533.43	-794.73	-1,166
Change in Inventory	-220.57	45.22	125.53	-109.9	98.96
Change in Accounts Payable	-302.76	-226.73	527.48	440.73	1,137
Operating Cash Flow	-664.31	325.02	462.79	203.06	657.31
Operating Cash Flow Growth	-	-29.77%	127.91%	-69.11%	37.22%
Capital Expenditures	-87.31	-69.64	-55.81	-73.63	-259.61
Sale of Property, Plant & Equipment	0.06	0.02	0.12	0.08	0.44
Cash Acquisitions	-	-	-	-46.98	-
Investment in Securities	-	-	-	500	-
Other Investing Activities	0.04	-	0.04	14.63	14.07
Investing Cash Flow	-87.21	-69.62	-55.66	394.1	-245.11
Short-Term Debt Issued	-	-	-	-	359.5
Long-Term Debt Issued	57.3	26	71.3	519	-
Total Debt Issued	57.3	26	71.3	519	359.5
Short-Term Debt Repaid	-	-	-	-	-413.98
Long-Term Debt Repaid	-30	-157.79	-428.6	-654.53	-122.27
Total Debt Repaid	-30	-157.79	-428.6	-654.53	-536.25
Net Debt Issued (Repaid)	27.3	-131.79	-357.3	-135.53	-176.75
Issuance of Common Stock	-	-	-	18.83	46.99
Common Dividends Paid	-40.68	-31.03	-124.8	-109.22	-41.22
Other Financing Activities	-193.87	0.47	-2.83	-0.77	-0.96
Financing Cash Flow	-207.25	-162.35	-484.93	-226.68	-171.95
Foreign Exchange Rate Adjustments	-1.74	-	0	-	-
Net Cash Flow	-960.51	93.05	-77.8	370.47	240.26
Free Cash Flow	-751.62	255.38	406.98	129.42	397.7
Free Cash Flow Growth	-	-37.25%	214.45%	-67.46%	-10.32%
Free Cash Flow Margin	-7.21%	3.39%	5.67%	1.58%	3.85%
Free Cash Flow Per Share	-0.65	0.22	0.35	0.11	0.34
Cash Interest Paid	-	-	2.83	0.77	0.96
Cash Income Tax Paid	253.76	192.93	126.21	300.24	215.3
Levered Free Cash Flow	-523.42	-727.94	692.97	1,092	230.36
Unlevered Free Cash Flow	-523.42	-723.9	704.86	1,108	247.86
Change in Working Capital	-1,057	-46.16	123.9	-466.12	71.35

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