Hefei Conver Holding 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	148.27	167.93	152.36	162.14	56.91
Depreciation & Amortization	64.21	42.61	28.36	19.33	14.27
Other Amortization	37.51	27.28	21.02	20.75	16.08
Loss (Gain) From Sale of Assets	-0.5	-0.11	-0.17	0.07	-
Asset Writedown & Restructuring Costs	-1.32	0.78	0.82	1.21	0.75
Loss (Gain) From Sale of Investments	-1.07	-	-	-	-
Provision & Write-off of Bad Debts	-	6.28	2.62	1.56	3.32
Other Operating Activities	2.83	4.42	3.01	2.81	3.24
Change in Accounts Receivable	-151.05	-223.23	-253.48	-51.92	-127.51
Change in Inventory	-0.51	-27.93	-8.12	-11.32	-8.89
Change in Accounts Payable	58.37	153.18	126.72	-15.87	74.92
Change in Other Net Operating Assets	0.32	1.21	1.21	1.68	2.74
Operating Cash Flow	151.95	149.03	72.78	135.7	34.17
Operating Cash Flow Growth	1.96%	104.78%	-46.37%	297.16%	-13.61%
Capital Expenditures	-94.14	-240.4	-116.18	-59.86	-30.23
Sale of Property, Plant & Equipment	0.5	0.11	0.17	0.03	0.07
Investment in Securities	-314	-	-	-	-
Other Investing Activities	3.56	-	-	-	-
Investing Cash Flow	-404.08	-240.29	-116.01	-59.83	-30.16
Long-Term Debt Issued	16.33	197.55	67.78	18	63
Total Debt Issued	16.33	197.55	67.78	18	63
Long-Term Debt Repaid	-194.52	-78.7	-28	-63	-65.5
Total Debt Repaid	-194.52	-78.7	-28	-63	-65.5
Net Debt Issued (Repaid)	-178.19	118.86	39.78	-45	-2.5
Issuance of Common Stock	706.58	-	-	-	-
Common Dividends Paid	-64.6	-4.3	-1.35	-1.7	-12.53
Dividends Paid	-64.6	-4.3	-1.35	-1.7	-12.53
Other Financing Activities	-29.5	-10.57	-2.81	-5.31	22.23
Financing Cash Flow	434.28	103.99	35.62	-52.01	7.2
Net Cash Flow	182.15	12.73	-7.61	23.85	11.21
Free Cash Flow	57.81	-91.36	-43.4	75.84	3.94
Free Cash Flow Growth	-	-	-	1826.48%	-63.71%
Free Cash Flow Margin	4.68%	-8.50%	-5.68%	12.07%	0.94%
Free Cash Flow Per Share	0.48	-0.97	-0.46	0.81	0.04
Cash Income Tax Paid	75.13	67.31	52.11	41.04	25.27
Levered Free Cash Flow	83.34	-52.26	-142.69	173.31	20.93
Unlevered Free Cash Flow	83.34	-49.81	-141.17	175.03	23.24
Change in Working Capital	-97.98	-100.15	-135.24	-72.16	-60.4

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