Shenwu Energy Saving 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	-122.85	-123.56	-22.12	-17.04	-15.92	1,990
Depreciation & Amortization	1.62	1.62	0.51	0.49	0.47	0.47
Other Amortization	0.03	0.03	0.08	-	0.08	0.06
Loss (Gain) From Sale of Assets	-	-	0	-	0.01	-26.29
Asset Writedown & Restructuring Costs	24.27	24.27	28.1	0.02	4.81	17.8
Loss (Gain) From Sale of Investments	-	-	-	-9.35	-0.06	-1,559
Other Operating Activities	50.73	77.7	-5.5	1.99	-4.9	32.69
Change in Accounts Receivable	47.72	47.72	36.25	30.17	-61.67	-13.76
Change in Inventory	-19.47	-19.47	-0.07	-1.66	-0.34	2.67
Change in Accounts Payable	-10.76	-10.76	-82.99	-22.87	49.35	-567.93
Change in Other Net Operating Assets	-1.51	-1.51	6.67	26.78	2.39	-
Operating Cash Flow	-11.6	14.66	-43.24	9.44	-24.31	-144.4
Capital Expenditures	-1.99	-1.38	-0.22	-0.02	-0.09	-0.4
Sale of Property, Plant & Equipment	-	-	0	-	0	27.55
Investment in Securities	-	-	-	-	6.29	-5.63
Other Investing Activities	-	-	0.09	-	0.06	0.01
Investing Cash Flow	-1.99	-1.38	-0.13	-0.02	6.26	21.52
Short-Term Debt Issued	-	-	16	2	2.37	-
Long-Term Debt Issued	-	47.63	-	0.7	2.5	-
Total Debt Issued	61.63	47.63	16	2.7	4.87	-
Short-Term Debt Repaid	-	-	-2	-	-	-47.76
Long-Term Debt Repaid	-	-16	-	-	-	-
Total Debt Repaid	-15.03	-16	-2	-	-	-47.76
Net Debt Issued (Repaid)	46.61	31.63	14	2.7	4.87	-47.76
Issuance of Common Stock	11.06	16.78	16.68	-	-	214
Common Dividends Paid	-1.2	-1.02	-	-0.26	-0.1	-
Other Financing Activities	4.9	4.9	-0.53	-3.1	-	-21.45
Financing Cash Flow	61.37	52.29	30.15	-0.66	4.77	144.79
Foreign Exchange Rate Adjustments	-	-	-	-	0.06	-0.02
Net Cash Flow	47.79	65.56	-13.22	8.76	-13.22	21.9
Free Cash Flow	-13.59	13.27	-43.46	9.42	-24.4	-144.8
Free Cash Flow Margin	-3.92%	4.01%	-35.23%	5.99%	-15.57%	-120.51%
Free Cash Flow Per Share	-0.02	0.02	-0.07	0.01	-0.04	-0.23
Cash Interest Paid	-	-	0.53	-	-	-
Cash Income Tax Paid	18.97	7.72	4.48	5.76	11.69	4.38
Levered Free Cash Flow	95.06	113.53	-90.47	-32.33	-18.75	-846.68
Unlevered Free Cash Flow	95.06	113.53	-90.13	-32.24	-18.67	-839.96
Change in Working Capital	34.6	34.6	-44.3	33.33	-8.8	-599.77

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