CRRC Corporation 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	13,181	12,388	11,712	11,653	10,303
Depreciation & Amortization	8,076	8,197	7,678	7,824	7,728
Other Amortization	1,019	257.91	196.38	117.5	83.31
Loss (Gain) From Sale of Assets	-357.28	-187	-384.77	-2,540	-977.22
Asset Writedown & Restructuring Costs	81.47	87.3	60.81	20.04	74.84
Loss (Gain) From Sale of Investments	-1,320	-1,338	-1,789	-942.19	-284.62
Provision & Write-off of Bad Debts	1,579	983.93	1,282	587.53	112.62
Other Operating Activities	4,735	4,717	4,004	3,679	3,711
Change in Accounts Receivable	-25,725	-21,791	-38,828	-12,498	-26,002
Change in Inventory	-16,788	-12,578	-3,876	-1,879	1,115
Change in Accounts Payable	41,122	37,918	34,774	17,994	24,893
Change in Other Net Operating Assets	-824.68	-1,171	-153.3	-62.9	-144.54
Operating Cash Flow	24,186	27,057	14,722	23,953	20,593
Operating Cash Flow Growth	-10.61%	83.79%	-38.54%	16.32%	-
Capital Expenditures	-9,383	-10,185	-8,104	-7,417	-5,907
Sale of Property, Plant & Equipment	906.63	411.4	152.03	1,207	1,366
Divestitures	143.48	-	-	-	146.65
Investment in Securities	-7,723	-8,152	-2,915	-3,561	-10,016
Other Investing Activities	1,191	907.06	-310.97	990.39	725.15
Investing Cash Flow	-14,865	-17,018	-11,177	-8,781	-13,685
Long-Term Debt Issued	39,313	20,444	51,970	52,747	105,106
Long-Term Debt Repaid	-40,337	-24,445	-47,505	-55,652	-98,831
Net Debt Issued (Repaid)	-1,025	-4,000	4,464	-2,905	6,275
Issuance of Common Stock	-	10	-	-	-
Common Dividends Paid	-10,150	-6,787	-6,834	-6,275	-5,963
Other Financing Activities	-1,563	1,342	-2,997	-2,032	6,799
Financing Cash Flow	-12,737	-9,435	-5,367	-11,212	7,111
Foreign Exchange Rate Adjustments	249.36	-158.06	281.86	369.15	-580.68
Net Cash Flow	-3,167	445.07	-1,541	4,330	13,438
Free Cash Flow	14,803	16,872	6,618	16,536	14,686
Free Cash Flow Growth	-12.26%	154.94%	-59.98%	12.60%	-
Free Cash Flow Margin	5.42%	6.84%	2.83%	7.42%	6.51%
Free Cash Flow Per Share	0.52	0.59	0.23	0.58	0.51
Cash Income Tax Paid	11,886	11,115	9,231	7,527	10,358
Levered Free Cash Flow	21,478	22,567	7,276	15,676	11,338
Unlevered Free Cash Flow	22,107	23,268	7,965	16,344	12,039
Change in Working Capital	-2,795	1,948	-8,034	3,681	-146.65

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