China World Trade Center 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	2020 - 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	2020 - 2016
Net Income	1,202	1,262	1,259	1,116	1,024	Upgrade
Depreciation & Amortization	430.43	455.99	468.02	489.22	512.83	Upgrade
Other Amortization	5.91	6.66	7.2	6.19	6.02	Upgrade
Gain (Loss) on Sale of Assets	2.03	4.31	3.6	1.4	2.47	Upgrade
Gain (Loss) on Sale of Investments	-3.64	-3.27	-3.76	-3.04	-6.22	Upgrade
Change in Accounts Receivable	-23.84	18.98	91.74	-38.94	75.19	Upgrade
Change in Other Net Operating Assets	-75.84	-5.21	18.44	163.59	46.11	Upgrade
Other Operating Activities	23.86	54.26	72.45	96.54	116.57	Upgrade
Operating Cash Flow	1,575	1,796	1,919	1,824	1,780	Upgrade
Operating Cash Flow Growth	-12.31%	-6.38%	5.17%	2.48%	26.57%	Upgrade
Acquisition of Real Estate Assets	-76.29	-68.28	-66.01	-70.34	-145.03	Upgrade
Sale of Real Estate Assets	0.17	0.31	0.28	0.13	0.1	Upgrade
Net Sale / Acq. of Real Estate Assets	-76.12	-67.97	-65.74	-70.21	-144.93	Upgrade
Investment in Marketable & Equity Securities	0.45	-2	-	-	2.4	Upgrade
Other Investing Activities	-	6.33	0.9	-	-	Upgrade
Investing Cash Flow	-75.67	-63.64	-64.84	-70.21	-142.53	Upgrade
Long-Term Debt Repaid	-889.95	-494.68	-514.68	-564.68	-14.68	Upgrade
Net Debt Issued (Repaid)	-889.95	-494.68	-514.68	-564.68	-14.68	Upgrade
Common Dividends Paid	-1,130	-1,364	-775.15	-700.1	-516.02	Upgrade
Other Financing Activities	-0.25	-	-	-0.5	-0.49	Upgrade
Foreign Exchange Rate Adjustments	0	-0.02	-0.37	0.05	0.13	Upgrade
Net Cash Flow	-521.19	-126.3	563.62	488.89	1,107	Upgrade
Cash Income Tax Paid	925.79	978.44	966.45	815.86	834.47	Upgrade
Levered Free Cash Flow	1,268	1,439	1,552	1,388	1,260	Upgrade
Unlevered Free Cash Flow	1,283	1,472	1,597	1,448	1,332	Upgrade
Change in Working Capital	-94.6	15.75	112.07	117.98	124.58	Upgrade

Source: S&P Capital IQ. Real Estate template. Financial Sources.