CSI Solar Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	2,247	2,903	2,157	34.98
Depreciation & Amortization	3,385	2,170	1,578	1,750
Other Amortization	145.96	54.88	60	50.99
Loss (Gain) From Sale of Assets	3.26	-37.1	-40.64	-7.2
Asset Writedown & Restructuring Costs	494.73	63.51	480.31	109.26
Loss (Gain) From Sale of Investments	129.04	107.07	167.59	-276.75
Stock-Based Compensation	25.53	26.26	38.49	89.81
Provision & Write-off of Bad Debts	106.32	55.95	36.97	52.56
Other Operating Activities	1,568	1,216	421.03	316.65
Change in Accounts Receivable	-1,241	1,219	-5,991	-3,111
Change in Inventory	-451.1	541.82	-2,516	-3,047
Change in Accounts Payable	-3,396	136.18	9,257	2,682
Change in Other Net Operating Assets	66.74	163.17	245.47	-73.51
Operating Cash Flow	2,430	8,235	5,662	-1,665
Operating Cash Flow Growth	-70.49%	45.43%	-	-
Capital Expenditures	-7,868	-8,204	-4,222	-2,843
Sale of Property, Plant & Equipment	49.38	43.71	39.04	32.26
Divestitures	18.55	1.03	392.09	241.88
Investment in Securities	-2,390	-936.12	-500.23	154.02
Other Investing Activities	201.49	384.6	272.79	27.66
Investing Cash Flow	-9,989	-8,711	-4,019	-2,388
Long-Term Debt Issued	10,208	13,535	9,677	9,715
Long-Term Debt Repaid	-6,716	-9,926	-9,429	-7,530
Net Debt Issued (Repaid)	3,493	3,609	247.08	2,185
Issuance of Common Stock	-	6,737	-	-
Repurchase of Common Stock	-566.35	-	-	-
Common Dividends Paid	-831.42	-440.93	-359.23	-157.41
Other Financing Activities	1,443	-2,710	-267.23	-83.74
Financing Cash Flow	3,538	7,194	-379.38	1,944
Foreign Exchange Rate Adjustments	-28.18	8.33	131.15	-64.88
Net Cash Flow	-4,049	6,726	1,395	-2,174
Free Cash Flow	-5,438	30.52	1,440	-4,508
Free Cash Flow Growth	-	-97.88%	-	-
Free Cash Flow Margin	-11.78%	0.06%	3.03%	-16.10%
Free Cash Flow Per Share	-1.48	0.01	0.47	-1.47
Cash Interest Paid	-	-	-	26.62
Cash Income Tax Paid	2,104	1,522	897.56	577.83
Levered Free Cash Flow	-11,734	-1,590	4,739	-4,027
Unlevered Free Cash Flow	-11,430	-1,309	4,967	-3,864
Change in Working Capital	-5,675	1,675	763.45	-3,785

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