Quechen Silicon Chemical 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	496.99	540.81	412.51	380.46	300.07
Depreciation & Amortization	102.41	93.64	80.95	77.89	75.41
Other Amortization	0.31	0.2	0.2	0.2	0.2
Loss (Gain) From Sale of Assets	-0.2	-	-	-	0.05
Asset Writedown & Restructuring Costs	19.82	4.55	0.68	3.98	3.32
Loss (Gain) From Sale of Investments	-0.42	-5.87	-14.04	-22.37	-14.85
Provision & Write-off of Bad Debts	-1.57	-0.44	-2.69	4.56	1.92
Other Operating Activities	27.79	-17.35	-17.12	-58.06	32.7
Change in Accounts Receivable	-112.64	-56.06	-63.08	-270.63	-243.92
Change in Inventory	-3.53	-45.78	45.86	-64.17	-53.39
Change in Accounts Payable	34.19	62.19	-43.85	356.57	180.82
Change in Other Net Operating Assets	1.91	-1.42	-6.95	11.58	5.75
Operating Cash Flow	570.01	585.3	389.83	415.02	284.28
Operating Cash Flow Growth	-2.61%	50.14%	-6.07%	45.99%	5.21%
Capital Expenditures	-524.2	-364.52	-218.29	-196.15	-130.16
Sale of Property, Plant & Equipment	0.65	0.05	8.04	0.41	0.28
Investment in Securities	-4.19	308.15	-283.06	-206.69	-305
Other Investing Activities	14.96	7.04	15.72	21.4	11.3
Investing Cash Flow	-512.78	-49.28	-477.6	-381.03	-423.59
Short-Term Debt Issued	115.61	72.81	141.14	124.21	-
Long-Term Debt Issued	-	-	-	-	149.53
Total Debt Issued	115.61	72.81	141.14	124.21	149.53
Short-Term Debt Repaid	-125.55	-79.6	-81.04	-179.86	-
Long-Term Debt Repaid	-	-	-0.18	-6.15	-170.78
Total Debt Repaid	-125.55	-79.6	-81.22	-186.02	-170.78
Net Debt Issued (Repaid)	-9.94	-6.79	59.92	-61.81	-21.25
Issuance of Common Stock	27.42	-	-	-	31.06
Repurchase of Common Stock	-	-67.94	-0.52	-21.3	-
Common Dividends Paid	-127.29	-145.23	-105.32	-210.5	-209.85
Dividends Paid	-127.29	-145.23	-105.32	-210.5	-209.85
Other Financing Activities	-0.08	-	-0.97	-7.17	-3.83
Financing Cash Flow	-109.88	-219.97	-46.89	-300.78	-203.87
Foreign Exchange Rate Adjustments	-14.95	21.55	20.55	72.58	-25.29
Net Cash Flow	-67.59	337.61	-114.11	-194.2	-368.46
Free Cash Flow	45.82	220.78	171.54	218.87	154.12
Free Cash Flow Growth	-79.25%	28.71%	-21.63%	42.01%	46.92%
Free Cash Flow Margin	2.06%	10.05%	9.47%	12.53%	10.26%
Free Cash Flow Per Share	0.11	0.54	0.41	0.53	0.37
Cash Income Tax Paid	87.07	82.5	69.51	10.45	51.83
Levered Free Cash Flow	52.32	4.94	21.54	116.76	63.08
Unlevered Free Cash Flow	54.01	6.89	23.04	118.15	64.95
Change in Working Capital	-75.12	-30.24	-70.65	28.37	-114.54

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