Huarong Chemical 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	71.79	100.5	138.67	122.15	101.88
Depreciation & Amortization	35.65	30.85	26.27	18.92	12.31
Other Amortization	6.27	8.95	5.95	3.36	3.15
Loss (Gain) From Sale of Assets	-0.87	-2.07	0.83	-	-7.72
Asset Writedown & Restructuring Costs	7.82	7	17.35	4.81	3.04
Loss (Gain) From Sale of Investments	-30.07	-44.96	-95.09	-24.6	-4.89
Other Operating Activities	4.65	9.16	-5.34	1.47	1.37
Change in Accounts Receivable	-216.52	-158.85	1.48	-106.24	-29.83
Change in Inventory	-24.72	-34.81	-12.71	39.35	-13.88
Change in Accounts Payable	170.76	63.99	-35.72	68.28	-32.91
Change in Other Net Operating Assets	-0.01	0	-	-	-
Operating Cash Flow	23.09	-19.88	39.41	129.15	36.18
Operating Cash Flow Growth	-	-	-69.49%	256.97%	-50.82%
Capital Expenditures	-31.35	-35.9	-49.74	-48.63	-74.33
Sale of Property, Plant & Equipment	1.87	3.3	1.35	-	12.38
Investment in Securities	125	195	-395	-1,053	200
Other Investing Activities	30.12	45.61	43.07	24.52	4.89
Investing Cash Flow	125.63	208.01	-400.32	-1,077	142.95
Short-Term Debt Issued	-	878.75	1,063	458	7.67
Long-Term Debt Issued	697.19	10.19	11.28	18.41	-
Total Debt Issued	697.19	888.94	1,075	476.41	7.67
Short-Term Debt Repaid	-	-1,075	-812.07	-120.66	-10
Long-Term Debt Repaid	-817.48	-1.27	-0.51	-0.49	-
Total Debt Repaid	-817.48	-1,076	-812.58	-121.15	-10
Net Debt Issued (Repaid)	-120.3	-187.04	262.05	355.26	-2.33
Issuance of Common Stock	-	-	-	966	-
Common Dividends Paid	-78.94	-125.13	-43.89	-28.3	-0.02
Other Financing Activities	-2.12	62.05	-64.56	-72.15	-0.27
Financing Cash Flow	-201.35	-250.12	153.6	1,221	-2.62
Foreign Exchange Rate Adjustments	-0.17	0.37	10.84	3.61	-0.39
Net Cash Flow	-52.8	-61.62	-196.47	276.44	176.12
Free Cash Flow	-8.26	-55.78	-10.33	80.53	-38.14
Free Cash Flow Margin	-0.49%	-4.62%	-0.97%	7.09%	-5.92%
Free Cash Flow Per Share	-0.02	-0.12	-0.02	0.18	-0.10
Cash Income Tax Paid	57.21	53.07	64.86	70.32	43.31
Levered Free Cash Flow	19.31	-62.65	-29.22	68.91	-22.39
Unlevered Free Cash Flow	19.31	-56.74	-22.07	71.93	-21.63
Change in Working Capital	-72.16	-129.31	-49.23	3.05	-72.95

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