Shandong Shengli 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	205.2	117.24	153.39	152.75	110.03
Depreciation & Amortization	121.07	120.6	117.37	120.83	120.2
Other Amortization	4.12	6.13	3.47	3.62	3.08
Loss (Gain) on Sale of Assets	1.59	-2.59	-5.4	-3.54	-2.53
Loss (Gain) on Sale of Investments	-36.24	-33.7	-42.65	-44.63	-282.62
Asset Writedown	14.04	2.72	3.2	3.59	100.41
Change in Accounts Receivable	-58.02	-71.16	114.22	-46.49	-47.89
Change in Inventory	55.61	-4.84	-15.76	-2.04	29.02
Change in Accounts Payable	-73.88	53.4	-41.78	-74.56	42.68
Other Operating Activities	83.9	107.37	174.03	137.51	137.85
Operating Cash Flow	317.8	317.77	475.93	269.11	291.31
Operating Cash Flow Growth	0.01%	-33.23%	76.85%	-7.62%	-35.23%
Capital Expenditures	-155.52	-95.68	-121.13	-152.19	-286.67
Sale of Property, Plant & Equipment	7.11	3.73	9.66	1.89	0.99
Cash Acquisitions	-	-0.6	-43.63	-44.23	-133.25
Divestitures	2.78	17.6	6.16	-	-
Investment in Securities	-	-13.88	-84.49	-0.08	-4.91
Other Investing Activities	157.16	224.87	48.37	53.44	118.13
Investing Cash Flow	11.52	200.5	-149.41	-126.35	-288.71
Long-Term Debt Issued	887.35	1,156	2,232	1,775	2,030
Total Debt Issued	887.35	1,156	2,232	1,775	2,030
Long-Term Debt Repaid	-1,183	-1,620	-2,252	-1,586	-2,044
Total Debt Repaid	-1,183	-1,620	-2,252	-1,586	-2,044
Net Debt Issued (Repaid)	-295.54	-464.5	-20.1	189.33	-14.06
Common Dividends Paid	-91.37	-142.47	-133.43	-156.22	-144.47
Other Financing Activities	-32.87	57.04	18.77	-240.06	125.14
Financing Cash Flow	-419.77	-549.93	-134.76	-206.95	-33.39
Net Cash Flow	-90.45	-31.67	191.76	-64.19	-30.79
Free Cash Flow	162.28	222.09	354.8	116.91	4.64
Free Cash Flow Growth	-26.93%	-37.40%	203.47%	2421.20%	-96.71%
Free Cash Flow Margin	3.90%	5.26%	7.59%	2.52%	0.10%
Free Cash Flow Per Share	0.18	0.25	0.40	0.13	0.01
Cash Income Tax Paid	117.3	123.01	108.72	100.1	122.05
Levered Free Cash Flow	89.19	72.1	-99.96	-14.79	5.03
Unlevered Free Cash Flow	89.19	129.07	-27.9	66.81	94
Change in Working Capital	-75.88	-26.78	67.49	-117.83	83.86

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