SWX:ZHT 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 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	336.06	326.34	809.09	490.59	235.12	371.94
Depreciation & Amortization	111.52	111.52	98.42	72.76	42.57	33.47
Other Amortization	7.74	7.74	4.22	4.91	1.34	0.56
Loss (Gain) From Sale of Assets	-0.02	-0.02	-0.67	0.34	0.49	-
Asset Writedown & Restructuring Costs	49.98	49.98	52.69	39.53	23.83	18.74
Loss (Gain) From Sale of Investments	0.75	0.75	7.58	-2.23	-8.16	-8.26
Provision & Write-off of Bad Debts	122.19	122.19	219.18	79.64	-4.8	38.71
Other Operating Activities	216.6	16.33	-66.86	-66.09	58.42	13.69
Change in Accounts Receivable	121.29	121.29	-733	-787.22	-958.11	5.74
Change in Inventory	-46.7	-46.7	-557.03	-993.16	-642.99	23.13
Change in Accounts Payable	-511.09	-511.09	447.86	1,725	1,635	-251.94
Change in Other Net Operating Assets	-6.25	-6.25	-25.03	100.67	115.81	63.36
Operating Cash Flow	379.27	169.27	214.97	695.72	481.66	292.32
Operating Cash Flow Growth	-	-21.26%	-69.10%	44.44%	64.77%	115.42%
Capital Expenditures	-103.51	-105.98	-412.32	-417.31	-317.11	-163.2
Sale of Property, Plant & Equipment	0.43	0.09	1.47	0.06	3.23	-
Investment in Securities	151.94	2.95	2.44	8.02	8.16	88.26
Other Investing Activities	2.13	-	-	0.15	-	-
Investing Cash Flow	50.99	-102.93	-408.41	-409.08	-305.71	-74.94
Long-Term Debt Repaid	-	-4.5	-4.5	-4.5	-2.25	-
Total Debt Repaid	-4.5	-4.5	-4.5	-4.5	-2.25	-
Net Debt Issued (Repaid)	-4.5	-4.5	-4.5	-4.5	-2.25	-
Issuance of Common Stock	-	-	1,195	19.32	19.86	-
Common Dividends Paid	-136.43	-271.65	-199.21	-92.71	-112.28	-88.22
Other Financing Activities	36.66	48.68	5.64	-	-	-
Financing Cash Flow	-104.27	-227.47	997.24	-77.9	-94.68	-88.22
Foreign Exchange Rate Adjustments	95.94	6.84	69.56	68.96	-54.62	-17.18
Net Cash Flow	421.93	-154.3	873.35	277.71	26.65	111.98
Free Cash Flow	275.76	63.29	-197.35	278.41	164.55	129.12
Free Cash Flow Growth	-	-	-	69.19%	27.44%	-
Free Cash Flow Margin	9.10%	2.12%	-5.02%	8.06%	6.63%	8.65%
Free Cash Flow Per Share	0.46	0.10	-0.33	0.49	0.29	0.23
Cash Income Tax Paid	42.32	121.62	102.03	37.08	72.87	67.88
Levered Free Cash Flow	497.53	-104.57	-245.75	85.77	208.07	56.73
Unlevered Free Cash Flow	498.34	-103.87	-245.38	86.19	208.22	56.73
Change in Working Capital	-465.55	-465.55	-908.68	76.28	132.85	-176.53

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