Shangda Superalloys Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2021	FY 2020	FY 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019
Net Income	113.44	161.58	150.81	69.13	18.69	27.62
Depreciation & Amortization	68.33	68.33	61.39	39.66	40.75	41.25
Other Amortization	0.78	0.78	-	0.05	0.04	0.03
Loss (Gain) From Sale of Assets	-	-	-0.09	-0	35.36	-2.03
Asset Writedown & Restructuring Costs	0.24	0.24	0.28	6.67	9.13	4.59
Loss (Gain) From Sale of Investments	-4.32	-4.32	-0.6	-	-	-
Provision & Write-off of Bad Debts	16.32	16.32	4.21	5.98	-0.79	1.8
Other Operating Activities	-84.16	25.47	54.36	15.18	11.73	16.47
Change in Accounts Receivable	-176.47	-176.47	-254.25	-121.16	36.8	-39.77
Change in Inventory	-65.5	-65.5	-175.51	-79.54	-28.33	-41.45
Change in Accounts Payable	57.16	57.16	238.93	82.48	-106.25	-4.24
Operating Cash Flow	-75.06	82.71	77.12	25.61	17.11	6.81
Operating Cash Flow Growth	-	7.25%	201.12%	49.70%	151.16%	-
Capital Expenditures	-265.64	-50.05	-96.17	-63.64	-146.09	-94.1
Sale of Property, Plant & Equipment	-	-	0.28	0.01	63.69	2.56
Other Investing Activities	0.38	0.01	-	-	-	-
Investing Cash Flow	-336.26	-50.03	-95.89	-63.63	-82.4	-91.53
Long-Term Debt Issued	-	421.28	430.7	170	120	233
Long-Term Debt Repaid	-	-596.74	-310.32	-153.26	-86.98	-453.53
Net Debt Issued (Repaid)	-16.78	-175.46	120.39	16.74	33.02	-220.53
Issuance of Common Stock	584.89	584.89	-	-	-	269.7
Common Dividends Paid	-64.98	-28.55	-30.8	-21.95	-16.46	-19.68
Other Financing Activities	-21.98	-22.66	-0.87	-	3	124.8
Financing Cash Flow	481.16	358.22	88.71	-5.21	19.56	154.29
Foreign Exchange Rate Adjustments	0.1	0.04	-	-	-	-
Net Cash Flow	69.94	390.93	69.94	-43.23	-45.74	69.56
Free Cash Flow	-340.7	32.66	-19.05	-38.03	-128.98	-87.29
Free Cash Flow Margin	-14.01%	1.30%	-0.94%	-4.17%	-23.05%	-13.11%
Free Cash Flow Per Share	-0.94	0.11	-0.07	-0.14	-0.47	-0.35
Cash Income Tax Paid	24.3	34.2	19.91	7.62	11.92	8.83
Levered Free Cash Flow	-450.96	98.38	-	-58.41	-320.9	-
Unlevered Free Cash Flow	-437.14	116.31	-	-48.89	-313.53	-
Change in Working Capital	-185.68	-185.68	-193.24	-111.05	-97.8	-82.92

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