Xinjiang Torch Gas Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	183.66	156.85	134.2	96.06	102.14	74.15
Depreciation & Amortization	109.69	109.69	98.21	87.56	87.39	86.33
Other Amortization	1.88	1.88	0.46	0.31	0.32	0.28
Loss (Gain) on Sale of Assets	-0.01	-0.01	-0.07	-3.4	0.05	0.59
Loss (Gain) on Sale of Investments	-5.43	-5.43	-6.59	-5.29	-5.91	-1.7
Asset Writedown	0.06	0.06	0.12	7.16	7.18	3.35
Change in Accounts Receivable	-58.61	-58.61	43.58	-37.85	-82.56	-5.87
Change in Inventory	7.37	7.37	-12.35	-13.02	2.43	10.37
Change in Accounts Payable	34.8	34.8	140.4	30.2	-2.93	43.35
Change in Other Net Operating Assets	5.08	5.08	-2.05	1.66	4.99	5.04
Other Operating Activities	66.57	15.39	5.26	10.55	19.22	9.28
Operating Cash Flow	350.33	272.34	396.81	189.91	140.89	213.66
Operating Cash Flow Growth	0.77%	-31.37%	108.95%	34.79%	-34.06%	40.88%
Capital Expenditures	-103.37	-93.56	-160.62	-56.83	-92.66	-89.68
Sale of Property, Plant & Equipment	4.62	0.35	0.22	4.44	0.45	0.3
Cash Acquisitions	-117.87	-	-289.76	-	-	-1.89
Other Investing Activities	14.26	8.29	6.59	5.29	5.82	2.66
Investing Cash Flow	-202.37	-84.92	-443.56	-47.1	-86.39	-88.61
Long-Term Debt Issued	-	22	78.63	-	270	130
Total Debt Issued	75.88	22	78.63	-	270	130
Long-Term Debt Repaid	-	-86.6	-127.32	-287.5	-148.5	-57
Total Debt Repaid	-134.93	-86.6	-127.32	-287.5	-148.5	-57
Net Debt Issued (Repaid)	-59.05	-64.6	-48.7	-287.5	121.5	73
Common Dividends Paid	-80.21	-68.07	-31.9	-61.97	-48.8	-18.99
Other Financing Activities	1.22	-17	-	-	-	-
Financing Cash Flow	-138.04	-149.67	-80.6	-349.47	72.7	54.01
Net Cash Flow	9.92	37.75	-127.35	-206.66	127.19	179.07
Free Cash Flow	246.96	178.78	236.19	133.08	48.23	123.98
Free Cash Flow Growth	22.95%	-24.30%	77.48%	175.94%	-61.10%	30.05%
Free Cash Flow Margin	15.80%	12.10%	21.65%	15.69%	5.36%	18.30%
Free Cash Flow Per Share	1.75	1.26	1.67	0.94	0.34	0.87
Cash Income Tax Paid	96.65	93.13	56.13	46.63	51.85	41.51
Levered Free Cash Flow	245.84	133.16	251.04	105.3	8.35	126.55
Unlevered Free Cash Flow	246.82	134.51	252.7	111.89	20.36	132.95
Change in Working Capital	-19.5	-19.5	160.49	-21.77	-82.9	42.58

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