HG Technologies 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Net Income	114.06	114.41	123.94	95.42	108.7	109.65
Depreciation & Amortization	44.37	44.37	46.28	44.53	40.27	40.96
Other Amortization	0.24	0.24	0.07	0.21	0.38	0.23
Loss (Gain) From Sale of Assets	0.5	0.5	0.61	0.54	0.44	-
Provision & Write-off of Bad Debts	-0.46	-0.46	-2.63	1.07	0.54	1.39
Other Operating Activities	0.32	5.67	1.06	-0.15	-5.25	7.6
Change in Accounts Receivable	-39.34	-39.34	5.49	23.87	-9.08	-30.18
Change in Inventory	14.93	14.93	-19.59	10.33	-30.37	-31.54
Change in Accounts Payable	-36	-36	38.25	-9.4	-5.78	-14.32
Change in Other Net Operating Assets	2.15	2.15	3.56	-	-	-
Operating Cash Flow	101.37	107.08	198.23	167.79	100.81	84.88
Operating Cash Flow Growth	-49.75%	-45.98%	18.14%	66.44%	18.77%	-22.47%
Capital Expenditures	-50.14	-42.09	-12.82	-22.35	-258.13	-32.68
Sale of Property, Plant & Equipment	0.57	0.67	0.29	0.17	0.13	-
Other Investing Activities	-	-	-	-	-13.68	-
Investing Cash Flow	-49.57	-41.42	-12.53	-22.19	-271.69	-32.68
Long-Term Debt Repaid	-	-2.8	-2.34	-3.13	-3.04	-
Total Debt Repaid	-2.8	-2.8	-2.34	-3.13	-3.04	-
Net Debt Issued (Repaid)	-2.8	-2.8	-2.34	-3.13	-3.04	-
Common Dividends Paid	-40.26	-40.26	-29.6	-32.86	-22.2	-18.16
Other Financing Activities	-0.66	-0.81	-0.72	-1.18	-0.74	-0.26
Financing Cash Flow	-43.72	-43.87	-32.66	-37.17	-25.98	-18.42
Foreign Exchange Rate Adjustments	-1.63	-0.89	0.23	0.73	8.06	-2.99
Net Cash Flow	6.46	20.91	153.27	109.17	-188.79	30.79
Free Cash Flow	51.23	64.99	185.41	145.44	-157.32	52.2
Free Cash Flow Growth	-72.71%	-64.95%	27.49%	-	-	-24.08%
Free Cash Flow Margin	4.32%	5.45%	15.69%	13.60%	-14.50%	5.19%
Free Cash Flow Per Share	0.17	0.22	0.63	0.49	-0.53	0.18
Cash Income Tax Paid	35.84	36.44	35.33	19.56	28.63	26.88
Levered Free Cash Flow	10.23	27.59	138.62	107.68	-213.03	11.21
Unlevered Free Cash Flow	10.34	27.7	138.74	107.74	-212.88	11.49
Change in Working Capital	-57.67	-57.67	28.91	26.17	-44.27	-74.94

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