GuiZhou QianYuan Power 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	600.13	218.21	264.78	414.27	251.03
Depreciation & Amortization	836.39	561.17	554.05	713.32	649.6
Other Amortization	9.38	-	-	-	-
Loss (Gain) on Sale of Assets	-	-	0.03	-0.03	-
Loss (Gain) on Sale of Investments	2.75	3.74	6.41	5.03	0.71
Asset Writedown	14.33	3.06	2.02	2.64	2.41
Change in Accounts Receivable	-42.98	-42.01	398.73	-147.16	-157.85
Change in Inventory	0.13	-0.41	-1.66	0.17	-0.24
Change in Accounts Payable	285.28	50.34	57.52	180.67	-90.34
Other Operating Activities	731.57	464.54	525.71	777.96	657.34
Operating Cash Flow	2,434	1,257	1,806	1,946	1,306
Operating Cash Flow Growth	93.63%	-30.39%	-7.19%	49.03%	-39.56%
Capital Expenditures	-370.27	-167.62	-222.38	-673.05	-554.12
Sale of Property, Plant & Equipment	7.81	1.4	1.86	0.37	0.39
Other Investing Activities	-0.1	-	-	0.17	-
Investing Cash Flow	-362.56	-166.23	-220.52	-672.5	-553.73
Long-Term Debt Issued	4,326	2,282	726.72	1,981	3,669
Long-Term Debt Repaid	-5,879	-2,975	-1,714	-2,690	-3,695
Net Debt Issued (Repaid)	-1,552	-693.39	-987.58	-708.36	-25.94
Common Dividends Paid	-272.75	-398.83	-455.66	-462.89	-571.34
Other Financing Activities	-114.54	-79.53	-114.54	-114.54	-80.26
Financing Cash Flow	-1,940	-1,172	-1,558	-1,286	-677.54
Net Cash Flow	132.14	-80.72	27.76	-12.38	74.49
Free Cash Flow	2,064	1,090	1,584	1,273	751.64
Free Cash Flow Growth	89.44%	-31.20%	24.42%	69.35%	106.37%
Free Cash Flow Margin	62.83%	56.37%	79.57%	48.71%	36.28%
Free Cash Flow Per Share	4.83	2.55	3.70	2.98	1.76
Cash Income Tax Paid	774.34	377.32	405.18	468.31	485.48
Levered Free Cash Flow	1,484	762.85	1,052	280.8	478.62
Unlevered Free Cash Flow	1,619	938.86	1,263	546.28	759.89
Change in Working Capital	239.16	6.72	451.96	34.52	-257

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