Shenzhen Huakong Seg 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Net Income	-104.51	17.03	653.88	-217.47	-97.74
Depreciation & Amortization	13.46	17.07	29.77	24.95	24.33
Other Amortization	4.85	1.56	3.98	0.46	0.68
Loss (Gain) From Sale of Assets	0.06	-0.95	-472	0.3	-0
Asset Writedown & Restructuring Costs	3.23	5.25	12.28	40.06	2.03
Loss (Gain) From Sale of Investments	-6.22	-0.01	-495.11	0.74	0.76
Provision & Write-off of Bad Debts	10.6	7.87	2.15	4.49	5.28
Other Operating Activities	95.02	105.11	141.15	112.44	104.68
Change in Accounts Receivable	377.56	-60.11	405.89	-428.64	-271.39
Change in Inventory	-0.91	10.25	23.69	0.57	-45.62
Change in Accounts Payable	-80.82	119.48	-32.99	556.28	262.18
Operating Cash Flow	313.12	215.46	333.26	84.74	-20.38
Operating Cash Flow Growth	45.32%	-35.35%	293.29%	-	-
Capital Expenditures	-5.63	-12.04	-4.62	-9.59	-6.37
Sale of Property, Plant & Equipment	0.18	0.63	444.18	-	0
Divestitures	-	0.9	148.27	148	-
Investment in Securities	-13	0.35	98.84	0.09	-
Other Investing Activities	6.12	5	2.89	1.35	2.12
Investing Cash Flow	-12.32	-5.16	698.19	148.45	-1.25
Long-Term Debt Issued	9.28	10	42.99	73	13.54
Total Debt Issued	9.28	10	42.99	73	13.54
Long-Term Debt Repaid	-180.07	-561.74	-594.73	-140.46	-339.54
Total Debt Repaid	-180.07	-561.74	-594.73	-140.46	-339.54
Net Debt Issued (Repaid)	-170.79	-551.74	-551.74	-67.46	-326
Common Dividends Paid	-39.84	-65.36	-99.14	-106.45	-102.67
Other Financing Activities	-156.17	243.7	-314.92	-113.25	263.09
Financing Cash Flow	-366.79	-373.4	-965.8	-287.16	-165.58
Foreign Exchange Rate Adjustments	-0	0.02	0.01	0.07	-0.02
Net Cash Flow	-66	-163.08	65.67	-53.91	-187.23
Free Cash Flow	307.49	203.43	328.64	75.15	-26.76
Free Cash Flow Growth	51.15%	-38.10%	337.32%	-	-
Free Cash Flow Margin	36.94%	18.40%	35.68%	6.78%	-2.86%
Free Cash Flow Per Share	0.30	0.20	0.33	0.07	-0.03
Cash Income Tax Paid	22.11	16.5	28.33	-26.81	-11.19
Levered Free Cash Flow	116.64	-275.51	-400.78	48.29	235.08
Unlevered Free Cash Flow	158.12	-223.09	-323.28	128.34	311.83
Change in Working Capital	296.63	62.53	457.17	118.76	-60.4

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