Jiusheng Electric 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	36.96	-35.56	50.68	79	87.93
Depreciation & Amortization	26.49	27.78	26.27	22.25	16.43
Other Amortization	0.69	2.97	3.9	5.72	4.3
Loss (Gain) From Sale of Assets	0.38	-5.95	-0.04	-3.2	0.22
Asset Writedown & Restructuring Costs	4.46	11.71	1.97	-	-
Loss (Gain) From Sale of Investments	-0	-	-	-	-
Provision & Write-off of Bad Debts	-	43.41	47.6	-	26.69
Other Operating Activities	77.81	44.46	25.32	26.95	29.26
Change in Accounts Receivable	45.02	-501.74	-616.04	-339.09	-630.08
Change in Inventory	-34.4	27.66	-18.91	-74.06	-53.25
Change in Accounts Payable	-59	107.24	-89.21	291.14	136.35
Change in Other Net Operating Assets	-	-	-	26.05	-
Operating Cash Flow	91.5	-281.42	-562.46	29.54	-388.86
Capital Expenditures	-36.93	-47.35	-44.44	-73.97	-68.52
Sale of Property, Plant & Equipment	5.79	6.73	0.06	9.56	3.37
Investment in Securities	-	-	-	-18	-
Other Investing Activities	0	-	-	-	-
Investing Cash Flow	-31.14	-40.62	-44.38	-82.42	-65.15
Long-Term Debt Issued	1,086	1,380	1,147	578.45	384.72
Total Debt Issued	1,086	1,380	1,147	578.45	384.72
Long-Term Debt Repaid	-1,128	-953.33	-519.02	-477.88	-358.1
Total Debt Repaid	-1,128	-953.33	-519.02	-477.88	-358.1
Net Debt Issued (Repaid)	-41.79	426.38	627.78	100.57	26.62
Issuance of Common Stock	-	-	-	-	533.08
Common Dividends Paid	-78.09	-71.85	-57.82	-70.41	-18.29
Dividends Paid	-78.09	-71.85	-57.82	-70.41	-18.29
Other Financing Activities	19.57	-0.85	-0.72	-15.01	-5.86
Financing Cash Flow	-100.31	353.68	569.25	15.14	535.55
Net Cash Flow	-39.95	31.64	-37.59	-37.73	81.55
Free Cash Flow	54.57	-328.77	-606.9	-44.43	-457.38
Free Cash Flow Margin	2.35%	-17.20%	-30.28%	-2.33%	-23.41%
Free Cash Flow Per Share	0.24	-1.48	-2.63	-0.20	-2.56
Cash Income Tax Paid	24.46	31.81	32.17	23.19	38.27
Levered Free Cash Flow	8.24	-255.52	-759.46	52.3	-416.93
Unlevered Free Cash Flow	8.24	-228.94	-743.26	66.06	-405.44
Change in Working Capital	-55.3	-377.72	-724.54	-101.18	-553.69

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