Haitian Water Group 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	264.19	304.82	241.98	213.2	213.75	174.78
Depreciation & Amortization	243.54	243.54	218.08	194.22	165.06	105.11
Other Amortization	5.41	5.41	3.74	3.31	1.25	0.61
Loss (Gain) on Sale of Assets	0.3	0.3	-0.06	-0.05	-3.42	-
Loss (Gain) on Sale of Investments	-9.97	-9.97	-16.18	-30.29	-11.36	-4.25
Asset Writedown	0.79	0.79	0.46	1.46	0.55	3.29
Change in Accounts Receivable	-329.46	-329.46	-279.28	-189.52	-172.66	-108.8
Change in Inventory	24.06	24.06	-16.97	14.09	-11.21	-21.09
Change in Accounts Payable	52.92	52.92	54.6	48.89	81.11	67.36
Change in Other Net Operating Assets	7.87	7.87	1.13	24.85	-	-
Other Operating Activities	-365.52	126.03	83.99	93.9	97.87	88.31
Operating Cash Flow	-74.98	457.2	323.49	389.82	364.49	315.59
Operating Cash Flow Growth	-	41.34%	-17.02%	6.95%	15.50%	-14.07%
Capital Expenditures	-272.24	-369.93	-382	-279.18	-582.43	-369.85
Sale of Property, Plant & Equipment	0.31	0.21	0.42	0.57	3.71	-
Cash Acquisitions	-413.91	-	-	3.22	-2.2	-
Divestitures	7.79	7.79	3.49	4.83	-	-
Investment in Securities	-91.24	-174.4	100	-51.17	-308.2	-379.46
Other Investing Activities	-40.81	-9.1	0.36	-26.89	-9.13	104.45
Investing Cash Flow	-810.1	-545.43	-277.73	-348.62	-898.26	-644.87
Long-Term Debt Issued	-	1,191	1,302	1,041	582.96	1,214
Long-Term Debt Repaid	-	-925.12	-1,291	-801.27	-497.64	-663.75
Net Debt Issued (Repaid)	1,583	266.1	10.72	239.8	85.32	549.8
Issuance of Common Stock	-	-	-	-	827.15	-
Common Dividends Paid	-125.33	-222.57	-97.05	-175.62	-158.41	-97.6
Other Financing Activities	66.56	123.78	114.29	-19.95	-179.53	-52.85
Financing Cash Flow	1,524	167.3	27.96	44.23	574.51	399.35
Net Cash Flow	639.25	79.08	73.72	85.43	40.75	70.07
Free Cash Flow	-347.22	87.27	-58.51	110.64	-217.94	-54.27
Free Cash Flow Margin	-13.83%	5.75%	-4.58%	9.32%	-20.11%	-6.38%
Free Cash Flow Per Share	-0.77	0.19	-0.13	0.24	-0.50	-0.16
Cash Income Tax Paid	112.98	110.94	89.93	56.98	94.71	79.82
Levered Free Cash Flow	-864.41	-265.83	-246.82	39.2	-618.25	108.71
Unlevered Free Cash Flow	-784.04	-204.83	-185.51	107.81	-557.79	161.31
Change in Working Capital	-265.43	-265.43	-246.43	-102.27	-116.33	-66.16

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.