Chengdu KSW Technologies 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	46.63	37.03	87.1	81.25	50.72	44.87
Depreciation & Amortization	12.12	12.12	6.63	2.42	1.5	0.74
Other Amortization	1.5	1.5	0.02	0.04	0.1	0.12
Loss (Gain) From Sale of Assets	-	-	-0	-	-	-
Asset Writedown & Restructuring Costs	0.09	0.09	0	-	0	0
Loss (Gain) From Sale of Investments	-0.99	-0.99	-2.85	-1.52	-	-
Provision & Write-off of Bad Debts	9.19	9.19	10.74	9.59	5.01	3.02
Other Operating Activities	-24.75	-8.68	-4.71	1.21	0.4	0.68
Change in Accounts Receivable	-6.09	-6.09	-87.52	-51.38	-29.24	-16.61
Change in Inventory	-20.84	-20.84	1.47	-29.85	-8.06	-27.58
Change in Accounts Payable	98.07	98.07	12.59	42.86	-1.13	18.41
Operating Cash Flow	105.77	112.24	21.62	50.03	18.48	23.16
Operating Cash Flow Growth	121.51%	419.20%	-56.79%	170.72%	-20.20%	93.15%
Capital Expenditures	-14.46	-38.08	-66.27	-55.71	-6.41	-1.67
Cash Acquisitions	-	-	-0.06	-	-	-
Investment in Securities	-492.8	-493.8	-208.12	-220	-	-
Other Investing Activities	592.63	356.61	30.65	99.74	-	-
Investing Cash Flow	85.38	-175.27	-243.8	-175.97	-6.41	-1.67
Short-Term Debt Issued	-	-	-	9.9	20	10
Total Debt Issued	-	-	-	9.9	20	10
Short-Term Debt Repaid	-	-	-	-29.9	-10	-6
Long-Term Debt Repaid	-	-0.3	-0.3	-0.61	-0.43	-
Total Debt Repaid	-0.3	-0.3	-0.3	-30.51	-10.43	-6
Net Debt Issued (Repaid)	-0.3	-0.3	-0.3	-20.61	9.57	4
Issuance of Common Stock	-	-	-	646.92	-	-
Repurchase of Common Stock	-16.32	-16.32	-	-	-	-
Common Dividends Paid	-31.45	-18.31	-8.39	-5.53	-0.51	-4.06
Other Financing Activities	16.01	-	-	-16.97	-2.42	-0.28
Financing Cash Flow	-32.06	-34.93	-8.69	603.8	6.65	-0.34
Net Cash Flow	159.08	-97.96	-230.87	477.87	18.71	21.15
Free Cash Flow	91.31	74.17	-44.65	-5.68	12.07	21.49
Free Cash Flow Growth	620.60%	-	-	-	-43.85%	115.65%
Free Cash Flow Margin	34.78%	32.73%	-17.61%	-2.58%	7.41%	16.51%
Free Cash Flow Per Share	0.74	0.60	-0.37	-0.05	0.13	0.23
Cash Income Tax Paid	18.43	17.64	32.5	8.82	20.51	15.86
Levered Free Cash Flow	33.14	10.56	-89.66	-36.93	-6.22	9.05
Unlevered Free Cash Flow	33.15	10.57	-89.66	-36.74	-5.89	9.18
Change in Working Capital	61.97	61.97	-75.31	-42.96	-39.24	-26.29

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