North Chemical Industries 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	251.89	-28.31	55.51	93.27	121.53
Depreciation & Amortization	108.18	119.28	115.27	103.86	104.54
Other Amortization	0.03	4.67	0.51	1.83	1.87
Loss (Gain) From Sale of Assets	0.93	-11.91	1.44	2.55	-1.66
Asset Writedown & Restructuring Costs	17.27	2.64	1.93	0.02	45.14
Loss (Gain) From Sale of Investments	-3.28	-5.89	-9.4	-13.58	-20.77
Provision & Write-off of Bad Debts	-	7.62	22.01	-3.49	1.46
Other Operating Activities	17.94	16.64	6.04	-13.08	-3.06
Change in Accounts Receivable	-268.24	-46.57	-93.68	-172.2	91.28
Change in Inventory	15.83	76.67	3.56	84.32	9.88
Change in Accounts Payable	212.79	-34.21	-209.65	22.41	-111.92
Operating Cash Flow	365.2	79.37	-114.89	109.02	234.31
Operating Cash Flow Growth	360.10%	-	-	-53.47%	-44.45%
Capital Expenditures	-144.84	-58	-47.29	-136.91	-172.52
Sale of Property, Plant & Equipment	0.17	17.88	86.05	-	-
Divestitures	-	-	-	-	1.1
Investment in Securities	245	-245	230	134	134
Other Investing Activities	5.73	5.23	9.65	11	19.77
Investing Cash Flow	106.06	-279.89	278.41	8.1	-17.65
Long-Term Debt Issued	55.21	11.93	-	-	-
Total Debt Issued	55.21	11.93	-	-	-
Long-Term Debt Repaid	-	-9.47	-12.2	-13.55	-9.89
Total Debt Repaid	-	-9.47	-12.2	-13.55	-9.89
Net Debt Issued (Repaid)	55.21	2.45	-12.2	-13.55	-9.89
Common Dividends Paid	-22.36	-27.45	-27.45	-24.71	-21.98
Other Financing Activities	1.06	3.91	-2.52	-1.3	26.67
Financing Cash Flow	33.92	-21.09	-42.18	-39.55	-5.2
Foreign Exchange Rate Adjustments	-7.49	5.57	2.87	9.36	0.05
Net Cash Flow	497.69	-216.04	124.21	86.93	211.5
Free Cash Flow	220.36	21.37	-162.18	-27.89	61.78
Free Cash Flow Growth	931.15%	-	-	-	-81.64%
Free Cash Flow Margin	8.01%	1.10%	-7.51%	-1.09%	2.35%
Free Cash Flow Per Share	0.40	0.04	-0.29	-0.05	0.11
Cash Income Tax Paid	185.09	139.54	89.01	60.55	77.95
Levered Free Cash Flow	223.67	42.38	-177.89	-26.63	70.99
Unlevered Free Cash Flow	223.67	44.92	-175.64	-23.7	73.06
Change in Working Capital	-27.75	-25.38	-308.2	-62.37	-14.75

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