FRA:3YU 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	44.21	55.81	453.46	49.28	339.94	124.06
Depreciation & Amortization	844.52	856.41	712.87	588.65	499.56	351.84
Other Amortization	12.03	12.03	8.08	4.63	2.13	1.79
Loss (Gain) From Sale of Assets	23.06	23.06	-2.73	2.73	2.47	13.03
Asset Writedown & Restructuring Costs	111.56	111.56	21.82	7.17	18.8	23.41
Loss (Gain) From Sale of Investments	19.82	19.82	16.06	7.69	1.79	0.07
Loss (Gain) on Equity Investments	3.92	3.92	2.2	3.26	-0.98	8.24
Stock-Based Compensation	18.23	18.23	21.15	13.73	8.27	7.24
Other Operating Activities	99.79	-28.79	102.62	6.57	89.4	13.1
Change in Accounts Receivable	-94.82	-94.82	-203.48	-70.06	-106.74	-90.84
Change in Inventory	16.62	16.62	-13.98	-47.35	-19.66	23.89
Change in Accounts Payable	45.32	45.32	111.57	128.36	21.07	66.92
Change in Unearned Revenue	11.86	11.86	3.7	-1.66	1.81	3.32
Change in Other Net Operating Assets	-75.05	-75.05	-220.89	-8.77	-1.67	24.88
Operating Cash Flow	1,081	975.98	1,012	684.24	856.18	570.95
Operating Cash Flow Growth	34.89%	-3.60%	47.97%	-20.08%	49.96%	-1.11%
Capital Expenditures	-458.31	-527.95	-576.22	-370.06	-336.27	-280.46
Sale of Property, Plant & Equipment	8.85	5.47	1.21	1.02	9.11	-
Cash Acquisitions	-	-	-	-	-1.05	3.03
Divestitures	-	-	-	0.6	-	-
Sale (Purchase) of Intangibles	-13.32	-12.92	-10.32	-10.57	-6.31	-0.87
Investment in Securities	-139.44	-280.1	405.72	-163.69	-168.21	-824.95
Other Investing Activities	-3.41	17.73	29.42	-45	12.29	19.22
Investing Cash Flow	-605.63	-797.77	-150.19	-587.69	-490.43	-1,084
Short-Term Debt Issued	-	-	-	-	-	130.48
Long-Term Debt Issued	-	284.01	286.79	60	-	-
Total Debt Issued	353.48	284.01	286.79	60	-	130.48
Short-Term Debt Repaid	-	-	-	-	-42.95	-308
Long-Term Debt Repaid	-	-780.03	-604.16	-471.38	-387.37	-278.1
Total Debt Repaid	-927.36	-780.03	-604.16	-471.38	-430.32	-586.09
Net Debt Issued (Repaid)	-573.88	-496.02	-317.37	-411.38	-430.32	-455.61
Issuance of Common Stock	-	-	4.94	12.81	-	2,885
Repurchase of Common Stock	-41.46	-126.38	-137.26	-	-	-
Common Dividends Paid	-192.68	-192.68	-12.8	-70.97	-48.73	-50.63
Other Financing Activities	-83.74	-89.62	-183.93	-11.31	-309.54	-12.83
Financing Cash Flow	-891.76	-904.7	-646.41	-480.85	-788.59	2,365
Foreign Exchange Rate Adjustments	8.52	6.56	12.2	141.09	-78.97	-135.68
Net Cash Flow	-407.8	-719.93	228.03	-243.22	-501.81	1,717
Free Cash Flow	622.76	448.03	436.21	314.18	519.91	290.49
Free Cash Flow Growth	107.99%	2.71%	38.84%	-39.57%	78.97%	-26.06%
Free Cash Flow Margin	10.80%	7.38%	7.29%	7.84%	12.44%	10.70%
Free Cash Flow Per Share	0.45	0.32	0.30	0.22	0.36	0.21
Cash Interest Paid	9.79	10.31	4.73	0.81	0.54	4.09
Cash Income Tax Paid	68.12	100.24	107.11	87.72	133.43	48.03
Levered Free Cash Flow	279.54	214.64	478.46	304.51	366.79	134.78
Unlevered Free Cash Flow	350.02	283.99	536.5	355.2	413.86	176.79
Change in Working Capital	-96.07	-96.07	-323.09	0.53	-105.19	28.17

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