Chongqing Qin'an M&E PLC. 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	149.42	172.86	260.73	181.22	102.51
Depreciation & Amortization	149.99	152.5	145.44	131.06	170.39
Other Amortization	24.8	23.51	24.65	16.65	18.53
Loss (Gain) From Sale of Assets	0.02	-0.27	-0.16	0.07	-0.34
Asset Writedown & Restructuring Costs	0.17	5.14	12.74	18.44	8.33
Loss (Gain) From Sale of Investments	-1.19	30.71	36.14	-0.84	91.15
Provision & Write-off of Bad Debts	-	-0.54	-3.04	-0.48	0.61
Other Operating Activities	-1.36	4.92	8.27	-0.25	-19.68
Change in Accounts Receivable	29.22	125.2	-193.3	115.41	-134.47
Change in Inventory	-29.73	44	-6.63	9.64	-78.35
Change in Accounts Payable	-69.51	-194.52	1.62	58.1	47.58
Change in Other Net Operating Assets	15.97	41.6	16.73	-5.08	5.19
Operating Cash Flow	269.93	406.03	307.37	525.94	212.53
Operating Cash Flow Growth	-33.52%	32.10%	-41.56%	147.47%	-2.04%
Capital Expenditures	-80.53	-54.51	-137.83	-204.11	-180.12
Sale of Property, Plant & Equipment	1.66	2.78	2.5	1.33	2.97
Cash Acquisitions	-499.7	-	-	-	-
Investment in Securities	-15.52	-3.61	-143.3	303.19	605.19
Other Investing Activities	0.01	1.18	0.96	0.79	-101.6
Investing Cash Flow	-594.08	-54.16	-277.67	101.2	326.44
Short-Term Debt Issued	-	14.71	12.44	-	-
Long-Term Debt Issued	411.36	-	-	-	-
Total Debt Issued	411.36	14.71	12.44	-	-
Short-Term Debt Repaid	-	-12.44	-	-	-
Long-Term Debt Repaid	-14.71	-	-	-3.09	-
Total Debt Repaid	-14.71	-12.44	-	-3.09	-
Net Debt Issued (Repaid)	396.65	2.27	12.44	-3.09	-
Issuance of Common Stock	-	3.22	72.1	38.43	-
Repurchase of Common Stock	-	-	-	-	-92.89
Common Dividends Paid	-128.28	-216.28	-421.72	-207.25	-
Other Financing Activities	14.11	-80	-	-	-12.38
Financing Cash Flow	282.48	-290.79	-337.18	-171.91	-105.27
Foreign Exchange Rate Adjustments	-0.18	0.07	-0.11	0.46	-0.09
Net Cash Flow	-41.86	61.15	-307.58	455.69	433.6
Free Cash Flow	189.4	351.52	169.54	321.83	32.4
Free Cash Flow Growth	-46.12%	107.34%	-47.32%	893.22%	-31.19%
Free Cash Flow Margin	14.01%	21.97%	9.74%	25.49%	2.28%
Free Cash Flow Per Share	0.44	0.81	0.39	0.76	0.08
Cash Income Tax Paid	86.92	128.52	121.55	69.23	114.42
Levered Free Cash Flow	361.3	407.12	145.2	279.52	43.3
Unlevered Free Cash Flow	361.3	407.17	145.42	279.54	43.4
Change in Working Capital	-51.92	17.2	-177.4	180.06	-158.97

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