Hunan Development Group 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	80.98	72.14	67.8	49.47	69.14	119.73
Depreciation & Amortization	91.47	91.47	91.67	86.59	76.06	69.86
Other Amortization	2.65	2.65	1.92	2.4	1.87	1.99
Loss (Gain) on Sale of Assets	-0.01	-0.01	-0.01	-0.01	0	-0.09
Loss (Gain) on Sale of Investments	2.55	2.55	9	10.43	-7.09	-48.18
Asset Writedown	0.44	0.44	0.15	7.71	0	0.24
Change in Accounts Receivable	99.66	99.66	30.87	235.95	-4.19	-164.43
Change in Inventory	11.32	11.32	-8.37	-5.53	0.32	-0.41
Change in Accounts Payable	-22.52	-22.52	1.77	3.33	-48.83	7.1
Change in Other Net Operating Assets	1.03	1.03	0.28	0.05	1.58	-
Other Operating Activities	-49.12	-8.84	-9.43	-20.95	-12.85	-9.04
Operating Cash Flow	215.49	246.93	185.19	369.55	78.57	-20.56
Operating Cash Flow Growth	8.69%	33.34%	-49.89%	370.36%	-	-
Capital Expenditures	-75.26	-96.15	-119.82	-78.91	-113.78	-200.95
Sale of Property, Plant & Equipment	0.03	0.03	0.07	0.04	0.05	0.11
Cash Acquisitions	-	-	-	-	1.71	-
Divestitures	0.5	0.5	2.59	-2.89	-	19.85
Investment in Securities	-201.72	-202.39	-37.1	175.48	203.1	233.53
Other Investing Activities	131.69	25.53	18.64	-310.71	17.42	-5
Investing Cash Flow	-144.77	-272.48	-135.62	-216.98	108.5	47.54
Long-Term Debt Issued	-	151.59	100	-	-	-
Long-Term Debt Repaid	-	-87.15	-0.3	-0.48	-98.39	-28.44
Net Debt Issued (Repaid)	-39.21	64.44	99.7	-0.48	-98.39	-28.44
Common Dividends Paid	-28.86	-28.71	-23.68	-	-47.43	-51.57
Other Financing Activities	-2.05	-26.08	-338.58	-2.71	20.44	7.46
Financing Cash Flow	-70.12	9.65	-262.57	-3.19	-125.39	-72.55
Net Cash Flow	0.6	-15.9	-213	149.38	61.68	-45.56
Free Cash Flow	140.23	150.78	65.37	290.64	-35.21	-221.5
Free Cash Flow Growth	112.06%	130.66%	-77.51%	-	-	-
Free Cash Flow Margin	40.11%	43.18%	19.41%	99.37%	-8.37%	-46.30%
Free Cash Flow Per Share	0.31	0.33	0.14	0.65	-0.08	-0.48
Cash Income Tax Paid	61.95	61.95	88.42	52.97	49.97	55.29
Levered Free Cash Flow	159.14	134.69	69.55	-121.41	-78.29	-198.5
Unlevered Free Cash Flow	162.83	138.41	70.4	-121.01	-77.53	-195.19
Change in Working Capital	91.16	91.16	22.14	234.08	-50.94	-157.76

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