Hainan Haiyao 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	-429.99	-1,525	-106.49	10.51	-1,555
Depreciation & Amortization	192.28	178.26	157.82	153.25	176.28
Other Amortization	9.37	7.18	9.31	7.79	11.27
Loss (Gain) From Sale of Assets	0.09	-0.94	0.22	-19.35	-3.4
Asset Writedown & Restructuring Costs	2.15	188.27	0.02	0.67	110.32
Loss (Gain) From Sale of Investments	3	572.66	-15.83	-195.93	422.07
Provision & Write-off of Bad Debts	6.27	360.21	-41.66	103.87	419.35
Other Operating Activities	173.86	160.4	154.18	214.56	365.61
Change in Accounts Receivable	42.19	363.95	55.76	216.01	-139.81
Change in Inventory	136.72	-80.96	-42.13	-6.97	40.86
Change in Accounts Payable	-100.27	-263.48	-73.88	-274.12	225.16
Operating Cash Flow	79.8	-17.55	103.55	142.17	108.22
Operating Cash Flow Growth	-	-	-27.17%	31.37%	-
Capital Expenditures	-143.25	-175.58	-210.69	-263.78	-415.08
Sale of Property, Plant & Equipment	1.56	30.32	19.76	13.19	77.55
Cash Acquisitions	-	-	-	-	-23
Divestitures	-	-	-	238.28	0.66
Investment in Securities	14.51	20.72	50.28	237.51	928.56
Other Investing Activities	-47.48	-60.46	30.36	10.49	33.55
Investing Cash Flow	-174.66	-180.97	-82.43	393.96	607.23
Long-Term Debt Issued	3,776	3,911	3,783	4,201	4,752
Total Debt Issued	3,776	3,911	3,783	4,201	4,752
Long-Term Debt Repaid	-3,632	-3,640	-3,700	-4,830	-5,199
Net Debt Issued (Repaid)	143.94	271.53	82.33	-629.62	-446.81
Common Dividends Paid	-99.06	-113.55	-139.19	-166.77	-171.64
Other Financing Activities	67.81	-3.17	14.02	34.76	69.69
Financing Cash Flow	112.68	154.81	-42.84	-761.63	-548.76
Foreign Exchange Rate Adjustments	-0.25	0.63	1.01	1.56	-0.72
Net Cash Flow	17.58	-43.07	-20.71	-223.94	165.97
Free Cash Flow	-63.44	-193.13	-107.14	-121.61	-306.86
Free Cash Flow Margin	-7.63%	-19.50%	-7.25%	-6.84%	-14.90%
Free Cash Flow Per Share	-0.05	-0.15	-0.08	-0.09	-0.24
Cash Income Tax Paid	57.05	64.7	72.03	16.32	115.17
Levered Free Cash Flow	-202.64	392.9	-173.82	-465.75	-904.41
Unlevered Free Cash Flow	-82.68	503.22	-61.87	-329.38	-748.99
Change in Working Capital	122.79	41.6	-54.02	-133.19	162.14

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