China Reinsurance (Group) 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	11,074	10,557	5,652	-324.65	5,954	5,711
Depreciation & Amortization	961.34	958.76	1,060	1,078	1,032	1,064
Other Amortization	278.18	278.18	245.53	206.25	190.1	137.32
Gain (Loss) on Sale of Assets	1.15	1.15	1.99	5.25	2.73	1.14
Gain (Loss) on Sale of Investments	-	-	-	871.95	-	-
Change in Accounts Receivable	-	-	-	-	506.17	-1,882
Reinsurance Recoverable	-1,638	-1,638	-3,458	274.67	-2,345	5,804
Change in Insurance Reserves / Liabilities	5,613	5,613	19,571	12,340	26,312	44,450
Change in Other Net Operating Assets	7,643	7,643	2,754	3,214	-10,276	-4,173
Other Operating Activities	-7,479	-12,059	-7,437	-6,957	-13,251	-14,729
Operating Cash Flow	15,447	10,347	16,293	11,710	9,561	33,241
Operating Cash Flow Growth	-	-36.49%	39.15%	22.47%	-71.24%	96.88%
Capital Expenditures	-453.87	-433.87	-430.94	-397.68	-442.7	-897.41
Sale of Property, Plant & Equipment	77.52	72.49	45.96	0.6	27.51	25.74
Investment in Securities	-16,235	-29,817	-27,126	-19,117	-25,922	-56,769
Other Investing Activities	12,336	11,620	12,683	12,712	10,767	10,299
Investing Cash Flow	-4,275	-18,558	-14,828	-6,802	-15,570	-47,341
Short-Term Debt Issued	-	9,234	6,150	873.59	18,099	8,522
Long-Term Debt Issued	-	-	9,000	-	-	4,370
Total Debt Issued	9,234	9,234	15,150	873.59	18,099	12,892
Total Debt Repaid	-12,213	-1,795	-11,980	-9,938	-619.97	-1,237
Net Debt Issued (Repaid)	-2,979	7,439	3,170	-9,065	17,479	11,655
Common Dividends Paid	-1,784	-1,784	-594.72	-1,912	-1,742	-1,861
Other Financing Activities	-1,163	-1,039	-1,576	-1,227	-1,725	-1,837
Financing Cash Flow	-5,926	4,616	999.2	-12,203	14,012	7,957
Foreign Exchange Rate Adjustments	196.17	-90.12	-77.53	508.28	-636.19	-287.23
Net Cash Flow	5,442	-3,685	2,387	-6,788	7,367	-6,431
Free Cash Flow	14,993	9,914	15,862	11,312	9,119	32,344
Free Cash Flow Growth	-	-37.50%	40.23%	24.05%	-71.81%	120.01%
Free Cash Flow Margin	14.52%	9.56%	16.71%	14.13%	5.56%	19.24%
Free Cash Flow Per Share	0.35	0.23	0.37	0.27	0.21	0.76
Cash Interest Paid	1,932	2,006	2,178	2,067	1,932	1,573
Cash Income Tax Paid	3,149	1,583	1,911	1,492	1,670	2,278
Levered Free Cash Flow	-7,913	-14,675	-31,754	-86,244	-33,884	7,121
Unlevered Free Cash Flow	-6,715	-13,420	-30,301	-85,035	-31,928	8,952
Change in Working Capital	11,617	11,617	18,867	15,828	17,029	42,536

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