HCIG Energy Investment Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	3,050	2,894	531.16	188.63	106.49	-2,210
Depreciation & Amortization	1,918	1,918	1,941	1,512	1,372	1,607
Other Amortization	12.76	12.76	23.97	4.36	3.08	2.19
Loss (Gain) on Sale of Assets	-9.12	-9.12	-6.91	-8.34	-0	-
Loss (Gain) on Sale of Investments	-493.97	-493.97	-331.29	-263.04	-258.51	634.77
Asset Writedown	2.08	2.08	34.27	0.75	-0.8	2.11
Change in Accounts Receivable	301.23	301.23	-218.12	-90.94	-466.64	581.1
Change in Inventory	473.49	473.49	-231.56	-233.75	162.29	-359.31
Change in Accounts Payable	-562.32	-562.32	1,055	312.56	129.47	207.88
Other Operating Activities	803.62	582.7	911.95	635.32	812.07	183.6
Operating Cash Flow	5,795	5,418	3,771	2,152	1,911	148.17
Operating Cash Flow Growth	36.77%	43.68%	75.26%	12.61%	1189.57%	-94.81%
Capital Expenditures	-4,063	-4,267	-3,273	-3,023	-1,467	-1,532
Sale of Property, Plant & Equipment	7.6	23.38	6.57	13.06	2.16	0.22
Cash Acquisitions	-	-	45.6	40.91	8.8	-205.7
Divestitures	0.05	-	-	-1.06	-	-
Investment in Securities	-832.96	-874.15	-944.24	-35.13	-33.22	-369.24
Other Investing Activities	296.03	134.83	305.03	251.03	134.16	226.08
Investing Cash Flow	-4,592	-4,983	-3,860	-2,754	-1,355	-1,881
Long-Term Debt Issued	-	15,512	18,036	17,705	12,395	20,769
Long-Term Debt Repaid	-	-14,299	-20,249	-16,333	-14,492	-16,253
Net Debt Issued (Repaid)	442	1,213	-2,213	1,373	-2,096	4,516
Common Dividends Paid	-953.09	-784.13	-892.17	-818.52	-777.19	-939.77
Other Financing Activities	383.31	367.91	3,586	313.25	-3.05	-235.23
Financing Cash Flow	-128.44	796.69	480.34	867.51	-2,877	3,341
Foreign Exchange Rate Adjustments	-0.06	-0.06	0	-	-	-
Net Cash Flow	1,074	1,232	391.6	264.98	-2,321	1,608
Free Cash Flow	1,732	1,151	498.3	-871.32	444.18	-1,384
Free Cash Flow Growth	285.61%	131.07%	-	-	-	-
Free Cash Flow Margin	7.71%	5.05%	2.12%	-4.45%	2.43%	-9.20%
Free Cash Flow Per Share	0.95	0.64	0.28	-0.49	0.25	-0.77
Cash Income Tax Paid	1,127	1,127	398.59	258.02	-28.47	436.47
Levered Free Cash Flow	5,641	825.59	-337.18	-1,943	-331.09	-1,471
Unlevered Free Cash Flow	5,641	825.59	139.34	-1,515	123.04	-1,055
Change in Working Capital	511.79	511.79	636.98	58.64	-139.8	-97.34

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