Hexing Electrical 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	725.43	1,002	982.41	664.28	313.77
Depreciation & Amortization	93.44	78.46	68.43	61.21	59.13
Other Amortization	13.81	14.52	9.51	7.05	9.98
Loss (Gain) From Sale of Assets	-0.39	-0.07	-0.07	-0.08	-0.77
Asset Writedown & Restructuring Costs	74.25	0.41	0.08	0.13	0.13
Loss (Gain) From Sale of Investments	-26.61	-0.22	-37.79	-72.71	-225.59
Provision & Write-off of Bad Debts	-	16.19	7.75	25.73	22.57
Other Operating Activities	-51.45	-64.13	50.91	22.96	40.19
Change in Accounts Receivable	-271.27	-118.11	-300.23	-8.39	44.65
Change in Inventory	-579.4	-71.5	30.16	-258.77	-331.57
Change in Accounts Payable	634.25	-8.86	242.34	247.62	141.83
Change in Other Net Operating Assets	-85.18	34.46	42.65	16.48	45.06
Operating Cash Flow	528.31	885.54	1,101	675.3	145.47
Operating Cash Flow Growth	-40.34%	-19.56%	63.02%	364.23%	-64.67%
Capital Expenditures	-243.2	-184.77	-223.89	-153.22	-91.78
Sale of Property, Plant & Equipment	3.69	11.79	3.92	3.34	6.17
Divestitures	-	-	-	2.74	63.88
Investment in Securities	1,314	-1,641	-91.33	-250.48	-644.05
Other Investing Activities	115.84	123.38	68.94	151.62	137.03
Investing Cash Flow	1,190	-1,691	-242.37	-245.99	-528.74
Long-Term Debt Issued	274.07	466.23	395.54	503.67	517.9
Long-Term Debt Repaid	-574.95	-554.68	-278.4	-483.57	-510.19
Net Debt Issued (Repaid)	-300.88	-88.45	117.13	20.1	7.71
Issuance of Common Stock	-	17.4	0.93	-	-
Repurchase of Common Stock	-	-	-	-30.01	-
Common Dividends Paid	-346.31	-557.22	-380.13	-176.53	-278.79
Other Financing Activities	-147.6	-5.25	-	-	-
Financing Cash Flow	-794.79	-633.53	-262.07	-186.44	-271.08
Foreign Exchange Rate Adjustments	-0.13	1.22	-2.04	9.81	-11.17
Net Cash Flow	923.81	-1,438	594.39	252.68	-665.52
Free Cash Flow	285.11	700.77	876.98	522.08	53.69
Free Cash Flow Growth	-59.31%	-20.09%	67.98%	872.39%	-76.47%
Free Cash Flow Margin	5.98%	14.86%	20.88%	15.77%	1.99%
Free Cash Flow Per Share	0.59	1.44	1.80	1.07	0.11
Cash Income Tax Paid	116.11	27.92	105.3	130.27	-12.07
Levered Free Cash Flow	-430.38	-139.53	464.62	280.32	-87.03
Unlevered Free Cash Flow	-430.38	-124.34	489.66	307.02	-66.02
Change in Working Capital	-300.18	-161.67	19.63	-33.28	-73.94

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