Kingfore Energy 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	134.41	48.69	12.22	96.13	129.42
Depreciation & Amortization	97.84	79.75	71.14	75.63	70.07
Other Amortization	14.07	13.54	12.49	11.63	9.96
Loss (Gain) on Sale of Assets	1.24	-1.69	-0.48	0.37	-1.24
Loss (Gain) on Sale of Investments	-5.66	47.27	106.1	-11.59	-3.05
Asset Writedown	1.13	13.3	0.19	16.44	7.9
Change in Accounts Receivable	-49.79	-123.35	-39.77	-51.08	-42.7
Change in Inventory	0.68	-20.82	3.14	-0.93	-4.65
Change in Accounts Payable	101.13	139.9	30.06	4.27	16.77
Other Operating Activities	-8.15	5.02	6.93	6.21	5.47
Operating Cash Flow	341.28	233.38	200.65	156.53	193.71
Operating Cash Flow Growth	46.23%	16.31%	28.18%	-19.19%	7.43%
Capital Expenditures	-187.95	-205.29	-105.75	-114.43	-105.1
Sale of Property, Plant & Equipment	10.5	9.86	5.13	0.03	0.05
Cash Acquisitions	-4.86	-11.71	-18.63	-22.58	-
Investment in Securities	411.51	675.98	1,048	1,085	420
Other Investing Activities	3.48	-6.24	14.4	9.88	4.94
Investing Cash Flow	-247.32	-192.4	-6.85	-247.09	-290.11
Long-Term Debt Issued	96.23	-	18.65	19.8	0.9
Total Debt Issued	96.23	-	18.65	19.8	0.9
Long-Term Debt Repaid	-46.44	-0.88	-48.93	-39.95	-15.64
Net Debt Issued (Repaid)	49.79	-0.88	-30.28	-20.15	-14.74
Issuance of Common Stock	-	-	-	-	590.58
Common Dividends Paid	-47.06	-18.51	-50.45	-50.48	-0.25
Other Financing Activities	4.85	15.49	-29.68	-0.05	-25.98
Financing Cash Flow	7.58	-3.91	-110.41	-70.67	549.61
Net Cash Flow	101.54	37.07	83.4	-161.23	453.21
Free Cash Flow	153.33	28.09	94.9	42.11	88.61
Free Cash Flow Growth	445.84%	-70.40%	125.37%	-52.48%	-19.64%
Free Cash Flow Margin	12.79%	2.62%	9.81%	4.83%	11.21%
Free Cash Flow Per Share	0.98	0.18	0.58	0.27	0.66
Cash Income Tax Paid	31.51	31.27	21.75	-10.6	20.8
Levered Free Cash Flow	157.9	7.9	26.41	17.8	59.56
Unlevered Free Cash Flow	158.82	7.97	26.98	18.15	59.71
Change in Working Capital	46.83	-9.07	-24.49	-38.3	-24.83

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.