FRA:1CY 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	Jun '25 Jun 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	-3,242	200.77	572.58	1,412	2,480	1,625
Depreciation & Amortization	1,173	1,190	1,241	1,251	1,140	1,086
Other Amortization	46.34	46.34	37.62	27.16	15.66	8.95
Loss (Gain) From Sale of Assets	0.13	-7.46	-67.35	14.01	-16.97	-13.22
Asset Writedown & Restructuring Costs	3,593	40.45	41.29	-	-	-
Loss (Gain) From Sale of Investments	-3.71	11.15	-45.33	-24.05	-5.51	7.16
Loss (Gain) on Equity Investments	-100.97	-100.34	-106.27	-89.49	-72.19	-45.73
Stock-Based Compensation	38.11	28.85	35.61	44.75	37.87	31.25
Provision & Write-off of Bad Debts	44.24	44.24	-	-	-	-
Other Operating Activities	-222.2	-25.09	-41.4	249.28	782.27	1,011
Change in Accounts Receivable	1,134	792.68	611.54	935.33	-2,034	-595.66
Change in Inventory	983.01	191.48	156.39	-543.38	879.43	987.49
Change in Accounts Payable	105.1	3,962	866.15	2,781	804.74	-1,143
Change in Unearned Revenue	-242.5	-190.02	37.46	-755.59	110.34	643.75
Change in Other Net Operating Assets	-1,319	-4,667	-1,507	-1,069	891.66	2,120
Operating Cash Flow	1,986	1,518	1,832	4,232	5,015	5,729
Operating Cash Flow Growth	38.68%	-17.13%	-56.71%	-15.60%	-12.47%	39.44%
Capital Expenditures	-992.72	-1,048	-1,241	-1,381	-1,040	-944.4
Sale of Property, Plant & Equipment	589.92	718.85	474.73	505.79	387.83	505.81
Cash Acquisitions	0.79	-	-5.99	-41.23	-667.53	-847.87
Divestitures	113.64	142.13	114.32	0.47	301.55	-9.53
Sale (Purchase) of Intangibles	-45.26	-66.85	-70.76	-72.2	-60.41	-47.42
Investment in Securities	-41.2	-22.78	227.05	-213	687.78	-364.35
Other Investing Activities	87.85	20.5	-37.2	-253.85	109.03	39.39
Investing Cash Flow	-286.98	-256.61	-538.39	-1,455	-282.15	-1,668
Short-Term Debt Issued	-	10.24	72.29	80.65	55.02	570.48
Long-Term Debt Issued	-	22,576	24,207	26,567	23,978	30,301
Total Debt Issued	18,967	22,586	24,279	26,648	24,033	30,871
Short-Term Debt Repaid	-	-45.63	-94.68	-61.27	-218.69	-386.76
Long-Term Debt Repaid	-	-23,941	-24,217	-28,061	-28,061	-33,149
Total Debt Repaid	-19,284	-23,986	-24,312	-28,122	-28,280	-33,536
Net Debt Issued (Repaid)	-316.8	-1,400	-32.34	-1,475	-4,246	-2,665
Issuance of Common Stock	-	-	-	6.17	9.32	963.83
Repurchase of Common Stock	-100.35	-72.1	-98.96	-68.91	-73.61	-
Common Dividends Paid	-240.41	-214.09	-782.42	-948.83	-569.07	-
Other Financing Activities	-307.21	-318.69	-364.84	-355.66	-682.48	-1,004
Financing Cash Flow	-964.77	-2,005	-1,279	-2,842	-5,562	-3,191
Net Cash Flow	734.12	-743.41	15.28	-64.55	-829.52	869.44
Free Cash Flow	993.16	469.91	591.7	2,851	3,974	4,785
Free Cash Flow Growth	228.29%	-20.58%	-79.25%	-28.26%	-16.93%	99.34%
Free Cash Flow Margin	1.67%	0.74%	0.80%	3.96%	5.10%	7.02%
Free Cash Flow Per Share	0.53	0.25	0.30	1.45	2.01	2.49
Cash Interest Paid	267.24	299.11	349.11	317.9	514.56	692.72
Cash Income Tax Paid	275.16	257.25	498.91	695.5	673.87	283.13
Levered Free Cash Flow	769.69	265.53	226.18	2,646	4,504	2,189
Unlevered Free Cash Flow	936.68	451.53	430.58	2,846	4,820	2,610
Change in Working Capital	660.07	89.13	164.31	1,348	652.08	2,013

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