Shanghai Huafon Aluminium 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	1,202	1,218	899.2	665.77	500.16
Depreciation & Amortization	210.34	213.26	211.44	201.96	187.41
Other Amortization	1.86	-	-	-	-
Loss (Gain) From Sale of Assets	-0.23	0.46	0.4	1.66	-0.11
Asset Writedown & Restructuring Costs	0.01	0.33	1.05	0.18	0.15
Loss (Gain) From Sale of Investments	-0.44	0.82	0.48	10.21	2.73
Provision & Write-off of Bad Debts	8.05	13.94	13.07	12.01	8.58
Other Operating Activities	27.45	21.81	33.67	71.46	94.37
Change in Accounts Receivable	-573.43	-161.82	-840.65	-393.57	-219.74
Change in Inventory	-584.14	-471.46	-191.48	-326.85	-308.61
Change in Accounts Payable	-137.41	-85.19	233.73	67.67	109.57
Operating Cash Flow	160.38	745.01	373.6	326.51	380.58
Operating Cash Flow Growth	-78.47%	99.41%	14.42%	-14.21%	-
Capital Expenditures	-476.81	-143.93	-21.32	-70.7	-253.59
Sale of Property, Plant & Equipment	8.34	3.88	1.77	0.73	2.62
Investment in Securities	-1.08	-0.81	-5.79	100.83	-59.79
Investing Cash Flow	-469.54	-140.86	-25.34	30.85	-310.76
Long-Term Debt Issued	3,861	2,440	1,838	1,824	2,763
Long-Term Debt Repaid	-3,411	-2,702	-1,995	-2,038	-2,492
Total Debt Repaid	-3,411	-2,702	-1,995	-2,038	-2,492
Net Debt Issued (Repaid)	450.28	-261.74	-157.37	-213.86	270.7
Common Dividends Paid	-315.46	-237.11	-148.66	-134	-109.32
Financing Cash Flow	134.82	-498.86	-306.03	-347.85	161.38
Foreign Exchange Rate Adjustments	15.54	28.25	25.19	14.45	-6.18
Net Cash Flow	-158.8	133.53	67.42	23.96	225.02
Free Cash Flow	-316.43	601.08	352.28	255.81	126.99
Free Cash Flow Growth	-	70.63%	37.71%	101.44%	-
Free Cash Flow Margin	-2.53%	5.53%	3.79%	2.99%	1.97%
Free Cash Flow Per Share	-0.32	0.60	0.35	0.26	0.13
Cash Income Tax Paid	262.82	-15.35	-66.91	-223.43	-49.04
Levered Free Cash Flow	-207.03	411.24	-23.52	-34.35	-193.11
Unlevered Free Cash Flow	-186.2	440.92	16.87	19.69	-132.31
Change in Working Capital	-1,298	-720.85	-801.48	-645.45	-412.71

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