CSD Water Service Co., Ltd. (SHA:603903)

CSD Water Service Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-91.66	-105.83	-116.92	163.39	120.3	164.19
Depreciation & Amortization	73.72	73.72	78.32	73.94	79.92	68.5
Other Amortization	3.62	3.62	2.71	3.51	3.33	5.74
Loss (Gain) From Sale of Assets	-1.71	-1.71	-1.76	-3.18	-0.41	6.33
Asset Writedown & Restructuring Costs	89.07	89.07	44.35	0	-	6.6
Loss (Gain) From Sale of Investments	-8.3	-8.3	-15.94	-18.58	-20.31	-20.66
Provision & Write-off of Bad Debts	115.44	115.44	71.49	59.34	41.03	18.96
Other Operating Activities	200.45	33.07	68.73	89.64	93.38	86.26
Change in Accounts Receivable	165.45	165.45	135.74	-321.15	-455.94	-433.72
Change in Inventory	-23.22	-23.22	-35.17	20.58	-21.6	14.92
Change in Accounts Payable	-121.09	-121.09	-15.66	146.29	179.73	146.66
Change in Other Net Operating Assets	4.74	4.74	5.43	-7.58	-9.49	-3.26
Operating Cash Flow	379.3	197.76	183.51	197.91	5.32	62.79
Operating Cash Flow Growth	320.99%	7.77%	-7.27%	3621.73%	-91.53%	-80.33%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-16.61	-15.48	-24.21	-53.09	-131.03	-272.24
Sale of Property, Plant & Equipment	0.25	0.25	11.27	2.68	0.45	1.52
Cash Acquisitions	-	-	-11.1	-	-6.24	-
Investment in Securities	-3.81	-4.92	45.13	-34.1	-35.83	-15.29
Other Investing Activities	10.87	4.78	4.78	8.91	0.28	4.63
Investing Cash Flow	-9.31	-15.37	25.87	-75.59	-172.37	-281.38

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	-	-	-	50
Long-Term Debt Issued	-	628.03	979.16	775.03	998.73	1,204
Total Debt Issued	490.71	628.03	979.16	775.03	998.73	1,254
Short-Term Debt Repaid	-	-	-	-	-50	-
Long-Term Debt Repaid	-	-1,009	-1,053	-672.4	-750.64	-795.23
Total Debt Repaid	-982.29	-1,009	-1,053	-672.4	-800.64	-795.23
Net Debt Issued (Repaid)	-491.58	-381.37	-73.39	102.62	198.09	459.2
Issuance of Common Stock	-	-	-	-	476.14	-
Repurchase of Common Stock	-	-	-	-	-	-0.54
Common Dividends Paid	-62.9	-67.25	-131.93	-133.74	-127.41	-90.33
Other Financing Activities	50.89	2.99	-131.27	-9.04	-51.69	-91.73
Financing Cash Flow	-503.59	-445.63	-336.58	-40.15	495.13	276.6

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-0.16	-0.1	0.06	0.07	0.35	-0.09
Net Cash Flow	-133.75	-263.33	-127.14	82.23	328.42	57.92

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	362.69	182.28	159.3	144.82	-125.71	-209.45
Free Cash Flow Growth	352.86%	14.43%	10.00%	-	-	-
Free Cash Flow Margin	35.92%	17.78%	15.06%	9.06%	-8.76%	-14.32%
Free Cash Flow Per Share	1.50	0.71	0.63	0.57	-0.51	-1.03
Levered Free Cash Flow	246.4	73.28	278.51	-92.92	-323.8	-421.05
Unlevered Free Cash Flow	286.01	115.18	330.9	-39.02	-276.61	-383.72

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Income Tax Paid	66.99	88.1	96.74	54.6	33.07	48.7
Change in Working Capital	-1.32	-1.32	52.52	-170.15	-311.93	-273.14

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Jul 31, 2026

Data Sources Report a data error