HKG:0317 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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
Net Income	1,220	1,008	377.26	48.07	688.46	79.39
Depreciation & Amortization	473.52	473.52	478.36	475.56	424.01	359.74
Other Amortization	35.01	35.01	10.39	10.46	8.42	5.01
Loss (Gain) From Sale of Assets	0.22	0.22	29.17	-50.35	1.9	-5.36
Asset Writedown & Restructuring Costs	155.66	155.66	0.68	1.69	2.36	0.7
Loss (Gain) From Sale of Investments	-835.61	-835.61	-275.55	34.62	-600.93	-141.55
Provision & Write-off of Bad Debts	28.23	28.23	5.73	-1.58	-20.01	36.2
Other Operating Activities	991.89	261.43	316.61	212.3	259.72	240.68
Change in Accounts Receivable	-1,117	-1,117	-2,396	-1,018	-352.9	1,399
Change in Inventory	-2,731	-2,731	-517.95	-992.65	641.67	874.57
Change in Accounts Payable	2,357	2,357	-155.98	4,592	972.64	1,506
Operating Cash Flow	619.92	-322.23	-2,196	3,312	2,015	4,365
Operating Cash Flow Growth	-60.44%	-	-	64.36%	-53.84%	-
Capital Expenditures	-303.54	-285.18	-203.19	-554.3	-240.73	-293.67
Sale of Property, Plant & Equipment	1.92	1.99	380.35	332.12	140.84	3.09
Divestitures	-	-	0.07	-1.03	-	-8.09
Investment in Securities	-1,494	-1,539	-1,757	-6,884	2,540	-2,247
Other Investing Activities	3,857	4,314	1,152	4,007	1,032	-835.9
Investing Cash Flow	2,061	2,491	-428	-3,100	3,472	-3,382
Long-Term Debt Issued	-	3,717	2,839	2,880	4,426	3,643
Long-Term Debt Repaid	-	-4,199	-1,891	-4,379	-3,969	-4,635
Net Debt Issued (Repaid)	-1,042	-481.79	947.64	-1,499	457.13	-991.65
Common Dividends Paid	-311.76	-317.47	-137.31	-123.81	-335.56	-357.37
Other Financing Activities	19.35	21.61	-2.63	-	0.29	83.21
Financing Cash Flow	-1,334	-777.66	807.7	-1,623	121.86	-1,266
Foreign Exchange Rate Adjustments	-87.12	-49.46	27.42	42.87	44.05	-19.73
Net Cash Flow	1,260	1,342	-1,789	-1,369	5,653	-302.31
Free Cash Flow	316.39	-607.41	-2,399	2,758	1,774	4,072
Free Cash Flow Growth	-76.66%	-	-	55.42%	-56.42%	-
Free Cash Flow Margin	1.40%	-2.96%	-12.36%	17.08%	13.87%	34.88%
Free Cash Flow Per Share	0.22	-0.43	-1.70	1.95	1.25	2.88
Cash Income Tax Paid	-	-487.21	-241.59	-217	-395.62	-615.91
Levered Free Cash Flow	-537.58	-1,178	-3,741	1,883	2,079	5,202
Unlevered Free Cash Flow	-467.42	-1,108	-3,670	1,954	2,175	5,284
Change in Working Capital	-1,449	-1,449	-3,138	2,581	1,251	3,790

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