Hunan Development Group 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	66.75	67.8	49.47	69.14	119.73
Depreciation & Amortization	91.91	91.35	86.59	76.06	69.86
Other Amortization	2.22	2.25	2.4	1.87	1.99
Loss (Gain) on Sale of Assets	-0.01	-0.01	-0.01	0	-0.09
Loss (Gain) on Sale of Investments	2.55	9	10.43	-7.09	-48.18
Asset Writedown	-1.39	0.15	7.71	0	0.24
Change in Accounts Receivable	99.66	30.87	235.95	-4.19	-164.43
Change in Inventory	11.32	-8.37	-5.53	0.32	-0.41
Change in Accounts Payable	-22.52	1.77	3.33	-48.83	7.1
Change in Other Net Operating Assets	1.03	0.28	0.05	1.58	-
Other Operating Activities	-6.23	-9.43	-20.95	-12.85	-9.04
Operating Cash Flow	246.93	185.19	369.55	78.57	-20.56
Operating Cash Flow Growth	33.34%	-49.89%	370.36%	-	-
Capital Expenditures	-96.15	-119.82	-78.91	-113.78	-200.95
Sale of Property, Plant & Equipment	0.03	0.07	0.04	0.05	0.11
Cash Acquisitions	-	-	-	1.71	-
Divestitures	0.5	2.59	-2.89	-	19.85
Investment in Securities	12.61	-37.1	175.48	203.1	233.53
Other Investing Activities	-189.47	18.64	-310.71	17.42	-5
Investing Cash Flow	-272.48	-135.62	-216.98	108.5	47.54
Long-Term Debt Issued	151.59	100	-	-	-
Long-Term Debt Repaid	-68.95	-0.3	-0.48	-98.39	-28.44
Net Debt Issued (Repaid)	82.65	99.7	-0.48	-98.39	-28.44
Common Dividends Paid	-28.71	-23.68	-	-47.43	-51.57
Other Financing Activities	-44.29	-338.58	-2.71	20.44	7.46
Financing Cash Flow	9.65	-262.57	-3.19	-125.39	-72.55
Net Cash Flow	-15.9	-213	149.38	61.68	-45.56
Free Cash Flow	150.78	65.37	290.64	-35.21	-221.5
Free Cash Flow Growth	130.66%	-77.51%	-	-	-
Free Cash Flow Margin	43.18%	19.41%	99.37%	-8.37%	-46.30%
Free Cash Flow Per Share	0.33	0.14	0.65	-0.08	-0.48
Cash Income Tax Paid	61.95	88.42	52.97	49.97	55.29
Levered Free Cash Flow	137.3	69.55	-121.41	-78.29	-198.5
Unlevered Free Cash Flow	137.3	70.4	-121.01	-77.53	-195.19
Change in Working Capital	91.16	22.14	234.08	-50.94	-157.76

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