Harbin Sayyas Windows 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	-48.08	-42.19	145.97	107.96	128.45
Depreciation & Amortization	52.83	47.65	48.9	48.3	48.01
Other Amortization	2.46	2.25	3.77	7.29	7.36
Loss (Gain) From Sale of Assets	-0.2	-0	0.15	0.52	-0.39
Asset Writedown & Restructuring Costs	0.05	0.4	0.84	0.41	-20.07
Loss (Gain) From Sale of Investments	-4.82	-1.58	-0.34	0.92	-0.03
Provision & Write-off of Bad Debts	43.47	29.88	54.58	46.1	-
Other Operating Activities	9.91	5.79	1.44	9.39	5.32
Change in Accounts Receivable	38.09	104.33	-124.13	-117.71	-4.84
Change in Inventory	-12.69	-41.94	45.61	-5	-1.79
Change in Accounts Payable	41.02	21.97	-23.9	-117.29	54.78
Change in Other Net Operating Assets	12.97	2.71	4.15	-	-
Operating Cash Flow	127.59	124.34	148.59	-26.5	219.95
Operating Cash Flow Growth	2.61%	-16.32%	-	-	52.36%
Capital Expenditures	-131.85	-212.32	-162.56	-28.65	-82.74
Sale of Property, Plant & Equipment	50.54	0.05	1.25	0.08	0.18
Investment in Securities	-98.77	102.93	24.41	-392.9	0.06
Investing Cash Flow	-180.08	-109.34	-136.9	-421.47	-82.49
Short-Term Debt Issued	303.51	366	221	181.9	328.4
Total Debt Issued	303.51	366	221	181.9	328.4
Short-Term Debt Repaid	-324.74	-280	-182.06	-187.4	-314
Long-Term Debt Repaid	-	-	-	-	-0.4
Total Debt Repaid	-324.74	-280	-182.06	-187.4	-314.4
Net Debt Issued (Repaid)	-21.23	86	38.94	-5.5	14
Issuance of Common Stock	-	5.94	-	850.93	-
Repurchase of Common Stock	-30.06	-80	-	-	-
Common Dividends Paid	-6.77	-52.97	-100.55	-4.16	-5.33
Dividends Paid	-6.77	-52.97	-100.55	-4.16	-5.33
Other Financing Activities	-	1.2	-	-18.65	-
Financing Cash Flow	-58.06	-39.83	-61.62	822.62	8.67
Foreign Exchange Rate Adjustments	-0	-	-	-	-
Net Cash Flow	-110.55	-24.82	-49.93	374.66	146.13
Free Cash Flow	-4.26	-87.98	-13.97	-55.14	137.22
Free Cash Flow Growth	-	-	-	-	1010.96%
Free Cash Flow Margin	-0.70%	-15.53%	-1.49%	-6.22%	14.34%
Free Cash Flow Per Share	-0.05	-0.96	-0.15	-0.71	1.93
Cash Income Tax Paid	24.32	36.17	88.51	73.1	78.41
Levered Free Cash Flow	-25.47	-101.69	-87.1	-85.14	56.73
Unlevered Free Cash Flow	-21.45	-97.3	-83.4	-84.2	60.05
Change in Working Capital	71.97	82.14	-106.72	-247.39	51.3

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