Phoenix Shipping (Wuhan) 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Net Income	-116.24	-82.7	-8.7	36.23	96.18	10.53
Depreciation & Amortization	30.49	30.49	26.4	26.73	23.51	18.07
Other Amortization	-	-	-	-	-	0.33
Loss (Gain) From Sale of Assets	-1.33	-1.33	-0.55	-	-0.45	-
Asset Writedown & Restructuring Costs	45.5	45.5	0.02	0.01	-1.34	0.82
Loss (Gain) From Sale of Investments	-	-	-	-	-0	-
Provision & Write-off of Bad Debts	-	-	-	2.44	1.37	0.68
Other Operating Activities	-5.85	-1.82	2.34	4.29	3.76	-1.04
Change in Accounts Receivable	21.53	21.53	-25.89	89.37	-47.57	6.85
Change in Inventory	1.88	1.88	2.18	-4.8	-3.44	5.63
Change in Accounts Payable	25.49	25.49	-43.91	-63.82	17.22	-13.88
Change in Other Net Operating Assets	1.37	1.37	-4.11	-	-	-
Operating Cash Flow	3.16	40.73	-51.86	90.1	90.63	27.72
Operating Cash Flow Growth	-84.92%	-	-	-0.59%	226.98%	-46.92%
Capital Expenditures	-8.3	-6.29	-1.3	-0.31	-117.76	-112.19
Sale of Property, Plant & Equipment	65.22	1.6	0.66	0.01	2.07	19.73
Investment in Securities	3.44	-	-	-	-	-
Other Investing Activities	-	-	-	-	0	-
Investing Cash Flow	60.36	-4.69	-0.64	-0.3	-115.69	-92.46
Short-Term Debt Issued	-	14.1	40	40	20	31.9
Long-Term Debt Issued	-	-	-	-	46.75	-
Total Debt Issued	64.5	14.1	40	40	66.75	31.9
Short-Term Debt Repaid	-	-	-	-20	-25	-6.9
Long-Term Debt Repaid	-	-27.58	-62.31	-32.04	-12.07	-
Total Debt Repaid	-32.42	-27.58	-62.31	-52.04	-37.07	-6.9
Net Debt Issued (Repaid)	32.08	-13.49	-22.31	-12.04	29.68	25
Common Dividends Paid	-0.76	-0.51	-1.36	-1.34	-1.52	-0.22
Other Financing Activities	3.78	-	-10.72	-	-	1
Financing Cash Flow	35.09	-14	-34.38	-13.38	28.16	25.78
Foreign Exchange Rate Adjustments	-0.02	0.44	0.77	0.92	-0.14	-0.3
Net Cash Flow	98.6	22.49	-86.12	77.34	2.96	-39.27
Free Cash Flow	-5.14	34.45	-53.16	89.78	-27.13	-84.47
Free Cash Flow Margin	-0.76%	3.88%	-5.25%	8.62%	-2.90%	-11.81%
Free Cash Flow Per Share	-0.01	0.03	-0.05	0.09	-0.03	-0.08
Cash Income Tax Paid	10.8	6.11	9.96	7.36	27.68	-2.91
Levered Free Cash Flow	17.61	43.98	-47.95	88.94	-67.68	-79.15
Unlevered Free Cash Flow	18.85	45.14	-46.48	91.62	-65.4	-78.97
Change in Working Capital	50.6	50.6	-71.37	20.4	-32.41	-1.68

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.