Huludao Zinc Industry 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	68.46	21.28	89.11	65.86	229.83	274.11
Depreciation & Amortization	181.47	181.47	189.85	169.6	169.7	162.42
Other Amortization	0.09	0.09	0.04	-	-	-
Asset Writedown & Restructuring Costs	29.78	29.78	-4.57	1.03	0.55	3.66
Loss (Gain) From Sale of Investments	0.4	0.4	-1.97	5.6	-7.13	39.12
Provision & Write-off of Bad Debts	5.36	5.36	-3.88	1.83	3.62	1.37
Other Operating Activities	604.37	189.11	231.32	228.88	188.65	174.61
Change in Accounts Receivable	-696.3	-696.3	321.61	-316.81	-95.35	-82.41
Change in Inventory	-368.55	-368.55	-585.88	312.18	-556.3	-518.19
Change in Accounts Payable	108.71	108.71	-529.92	-11.03	308.8	294.11
Operating Cash Flow	-65.2	-527.63	-288.56	451.7	238.63	344.72
Operating Cash Flow Growth	-	-	-	89.29%	-30.78%	-60.01%
Capital Expenditures	-223.84	-175.56	-185.64	-90.77	-131.44	-83.2
Investment in Securities	-0.98	-1.47	-0.25	-	-	-
Other Investing Activities	1.04	0.23	5.17	-0.79	3.07	-29.19
Investing Cash Flow	-223.78	-176.8	-180.72	-91.56	-128.38	-112.38
Short-Term Debt Issued	-	6,178	4,092	3,388	3,186	3,203
Total Debt Issued	7,630	6,178	4,092	3,388	3,186	3,203
Short-Term Debt Repaid	-	-5,349	-3,783	-3,324	-2,693	-2,853
Long-Term Debt Repaid	-	-4.48	-1.11	-1.21	-0.75	-
Total Debt Repaid	-6,737	-5,354	-3,784	-3,325	-2,694	-2,853
Net Debt Issued (Repaid)	892.4	823.85	307.53	62.98	492.63	349.62
Issuance of Common Stock	-	-	497	-	-	-
Repurchase of Common Stock	-	-	-	-110	-650	-
Common Dividends Paid	-236.02	-222.45	-365.18	-192.21	-143.63	-186.53
Other Financing Activities	-5.88	0.31	-1.95	-8.87	22.63	-170.61
Financing Cash Flow	650.51	601.71	437.4	-248.1	-278.37	-7.52
Foreign Exchange Rate Adjustments	0.16	-2.55	2.41	0.83	-0.15	-0.48
Net Cash Flow	361.7	-105.27	-29.47	112.87	-168.28	224.34
Free Cash Flow	-289.03	-703.19	-474.2	360.93	107.18	261.52
Free Cash Flow Growth	-	-	-	236.74%	-59.01%	-68.38%
Free Cash Flow Margin	-1.62%	-4.51%	-3.03%	1.93%	0.47%	2.39%
Free Cash Flow Per Share	-0.14	-0.33	-0.32	0.27	0.07	0.18
Cash Income Tax Paid	151.73	218.47	242.23	142.72	238.17	185.15
Levered Free Cash Flow	-14.24	-816.73	-325.35	109.42	382.89	-281.14
Unlevered Free Cash Flow	104.24	-705.08	-200.55	234.43	484.39	-182.14
Change in Working Capital	-955.12	-955.12	-788.46	-21.11	-346.59	-310.57

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