HKG:0220 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,849	1,667	1,222	1,501
Depreciation & Amortization	1,100	1,125	1,135	1,222
Other Amortization	2.8	6.4	5.99	7.1
Loss (Gain) From Sale of Assets	7.72	-351.56	-4.21	-23.05
Asset Writedown & Restructuring Costs	9.29	-	-	-
Loss (Gain) From Sale of Investments	-56.48	-53.92	-52.84	-56.93
Loss (Gain) on Equity Investments	-59.38	-49.91	-26.14	-34.97
Provision & Write-off of Bad Debts	2.61	2.39	6.39	4.34
Other Operating Activities	115.37	46.01	-41.71	68.73
Change in Accounts Receivable	-44.38	231.7	-177.73	-72.36
Change in Inventory	-361.69	411.98	-143.92	-472.14
Change in Accounts Payable	160.94	-552.49	557	238.32
Change in Unearned Revenue	953.47	565.31	-975.21	806.38
Change in Other Net Operating Assets	693.65	5.15	-74.54	-766.75
Operating Cash Flow	4,373	3,054	1,430	2,421
Operating Cash Flow Growth	43.22%	113.49%	-40.93%	-24.69%
Capital Expenditures	-694.6	-952.21	-439.43	-377.98
Sale (Purchase) of Intangibles	-2.28	-7.72	-5.97	-5.04
Investment in Securities	-1,340	-625.57	-11.81	-233.96
Other Investing Activities	39.56	638.53	40.44	37.1
Investing Cash Flow	-1,998	-946.97	-416.77	-579.88
Short-Term Debt Issued	14,680	18,306	13,353	8,079
Total Debt Issued	14,680	18,306	13,353	8,079
Short-Term Debt Repaid	-15,469	-18,083	-12,698	-8,454
Long-Term Debt Repaid	-35.86	-34.36	-38.82	-44.96
Total Debt Repaid	-15,505	-18,118	-12,736	-8,499
Net Debt Issued (Repaid)	-825.25	188.53	616.63	-419.73
Common Dividends Paid	-1,872	-1,471	-1,807	-1,622
Financing Cash Flow	-2,697	-1,282	-1,191	-2,042
Foreign Exchange Rate Adjustments	0.06	-0.59	0.15	-0.17
Net Cash Flow	-321.98	823.48	-177.05	-200.73
Free Cash Flow	3,679	2,101	990.85	2,043
Free Cash Flow Growth	75.07%	112.07%	-51.51%	-29.48%
Free Cash Flow Margin	12.13%	7.35%	3.51%	8.10%
Free Cash Flow Per Share	0.85	0.49	0.23	0.47
Cash Interest Paid	34.47	54.37	59.76	31.79
Cash Income Tax Paid	557.53	516.27	565.04	595.44
Levered Free Cash Flow	3,235	1,748	678.04	1,739
Unlevered Free Cash Flow	3,256	1,782	715.96	1,759
Change in Working Capital	1,402	661.66	-814.4	-266.56

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.