Trust Chem 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
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	103.13	111.23	88.06	87.65	89.02
Depreciation & Amortization	27.69	27.69	12.59	6.06	4.85
Other Amortization	0.03	0.03	0.03	0.13	0.87
Loss (Gain) From Sale of Assets	0	0	0.01	-0.08	-
Asset Writedown & Restructuring Costs	-	-	-	17.2	-8.7
Loss (Gain) From Sale of Investments	-20.14	-20.14	-20.91	-6	-1
Provision & Write-off of Bad Debts	0.87	0.87	0.98	-1.39	2.21
Other Operating Activities	-54.05	-13.91	6.88	1.22	4.8
Change in Accounts Receivable	-90.07	-90.07	-26.66	35.01	-92.64
Change in Inventory	-124.18	-124.18	-9.69	10.06	-34.8
Change in Accounts Payable	205.7	205.7	71	-49.47	48.06
Change in Other Net Operating Assets	4.32	4.32	2.61	0.47	1.51
Operating Cash Flow	46.5	94.73	121.26	102.99	16.05
Operating Cash Flow Growth	-61.65%	-21.88%	17.74%	541.65%	-
Capital Expenditures	-122.82	-165.87	-129.24	-141.69	-96.71
Sale of Property, Plant & Equipment	0.01	-	-	0.31	-
Investment in Securities	-	-	24.47	-18.34	12.66
Other Investing Activities	2.38	12.21	-19.55	-0.08	0.07
Investing Cash Flow	-120.43	-153.66	-124.32	-159.8	-83.98
Long-Term Debt Issued	-	197.45	179.51	217.68	94.28
Long-Term Debt Repaid	-	-101.47	-153.72	-201.08	-
Net Debt Issued (Repaid)	-50.55	95.98	25.78	16.6	94.28
Issuance of Common Stock	271.35	-	-	0.11	48.58
Common Dividends Paid	-20.98	-7.77	-5.55	-4.96	-0.31
Other Financing Activities	-52.01	5.38	13.65	10.29	-97.68
Financing Cash Flow	147.8	93.59	33.89	22.04	44.87
Foreign Exchange Rate Adjustments	15.98	12.73	8.83	17.49	-6.2
Net Cash Flow	89.86	47.4	39.66	-17.28	-29.27
Free Cash Flow	-76.32	-71.13	-7.98	-38.71	-80.66
Free Cash Flow Margin	-5.50%	-5.02%	-0.75%	-3.25%	-6.69%
Free Cash Flow Per Share	-0.95	-1.01	-0.11	-0.55	-1.34
Cash Income Tax Paid	-	-112.8	-55.42	-60.96	-63.6
Levered Free Cash Flow	-	-2.11	-16.95	-80.49	-
Unlevered Free Cash Flow	-	1.85	-14.08	-77.13	-
Change in Working Capital	-11.05	-11.05	33.62	-1.81	-76

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