HKG:0323 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-208.81	-4,659	-1,327	-857.62	5,332
Depreciation & Amortization	-	4,512	3,812	3,281	3,232
Loss (Gain) From Sale of Assets	-	300.32	-93.86	-440.34	-223.74
Asset Writedown & Restructuring Costs	-	66.34	-	-	-
Loss (Gain) From Sale of Investments	-	-8.41	-274.88	-811.36	-855.64
Provision & Write-off of Bad Debts	-	-32.31	-37.98	-34.4	-2.77
Other Operating Activities	4,360	1,008	1,032	1,903	2,503
Change in Accounts Receivable	-	-1,317	-555.11	-211.97	918.67
Change in Inventory	-	1,141	708.33	665.6	-2,898
Change in Accounts Payable	-	-58.76	-1,029	3,063	8,763
Change in Other Net Operating Assets	-	0.77	-10.76	38.96	8.61
Operating Cash Flow	4,152	960.87	1,992	6,642	16,774
Operating Cash Flow Growth	332.06%	-51.76%	-70.01%	-60.41%	505.46%
Capital Expenditures	-1,990	-1,682	-6,399	-8,342	-7,586
Sale of Property, Plant & Equipment	183.69	82.93	611.05	477.5	187.33
Divestitures	-	-	770.27	449.76	-
Investment in Securities	152.7	-1,371	4,321	-121.89	-3,553
Other Investing Activities	164.08	177.8	135.5	438.83	230.56
Investing Cash Flow	-1,489	-2,793	-560.87	-7,098	-10,722
Short-Term Debt Issued	-	-	500	-	-
Long-Term Debt Issued	16,214	17,497	12,655	16,958	16,619
Total Debt Issued	16,214	17,497	13,155	16,958	16,619
Long-Term Debt Repaid	-21,932	-16,246	-15,212	-12,984	-19,686
Total Debt Repaid	-21,932	-16,246	-15,212	-12,984	-19,686
Net Debt Issued (Repaid)	-5,718	1,251	-2,057	3,974	-3,068
Issuance of Common Stock	9,000	-	-	171.86	-
Repurchase of Common Stock	-	-56.87	-62.13	-3.86	-
Common Dividends Paid	-507.08	-582.62	-676.65	-3,142	-1,606
Other Financing Activities	93.46	476.75	1,435	-482.95	-227.25
Financing Cash Flow	2,868	1,088	-1,361	516.57	-4,900
Foreign Exchange Rate Adjustments	-3.28	2.75	-1.79	77.36	-53
Net Cash Flow	5,527	-741.48	67.86	137.68	1,099
Free Cash Flow	2,162	-721.51	-4,407	-1,700	9,188
Free Cash Flow Margin	2.79%	-0.88%	-4.46%	-1.67%	8.07%
Free Cash Flow Per Share	0.28	-0.09	-0.57	-0.22	1.19
Cash Interest Paid	-	-	48.66	166.5	179.3
Cash Income Tax Paid	-	298.16	590.55	638.76	3,234
Levered Free Cash Flow	148.04	2,143	-8,971	5,160	6,505
Unlevered Free Cash Flow	439.42	2,514	-8,655	5,456	6,913
Change in Working Capital	-	-226.08	-1,118	3,602	6,790

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