HKG:0386 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	36,218	32,476	48,939	58,310	66,933	71,975
Depreciation & Amortization	128,377	128,377	120,851	114,525	112,660	115,680
Loss (Gain) From Sale of Assets	384	384	-810	-2,995	722	3,062
Asset Writedown & Restructuring Costs	11,747	11,747	6,565	7,997	2,921	9,869
Loss (Gain) From Sale of Investments	-	-	-	-	2	206
Loss (Gain) on Equity Investments	-10,463	-10,463	-8,961	-6,199	-14,479	-23,253
Provision & Write-off of Bad Debts	-258	-258	108	-243	-1,084	2,311
Other Operating Activities	-5,451	11,987	20,493	28,321	22,404	29,465
Change in Accounts Receivable	-7,928	-7,928	-7,864	3,974	1,974	-8,177
Change in Inventory	22,341	22,341	-10,117	-12,726	-45,421	-58,372
Change in Accounts Payable	-26,167	-26,167	-19,844	-29,489	-30,363	82,408
Operating Cash Flow	148,800	162,496	149,360	161,475	116,269	225,174
Operating Cash Flow Growth	-13.11%	8.79%	-7.50%	38.88%	-48.37%	33.62%
Capital Expenditures	-134,609	-133,625	-139,206	-171,493	-172,527	-144,921
Sale of Property, Plant & Equipment	1,117	1,241	1,864	5,363	212	1,478
Cash Acquisitions	1,537	1,537	-	-110	-7,881	-1,106
Investment in Securities	-31,365	-32,898	-38,357	-7,925	63,350	-14,614
Other Investing Activities	31,914	17,273	14,459	18,300	21,836	13,965
Investing Cash Flow	-131,406	-146,472	-161,240	-155,865	-95,010	-145,198
Long-Term Debt Issued	-	417,594	672,450	699,410	564,417	356,459
Long-Term Debt Repaid	-	-405,499	-647,706	-618,945	-532,947	-357,644
Net Debt Issued (Repaid)	9,992	12,095	24,744	80,465	31,470	-1,185
Issuance of Common Stock	-	-	11,995	-	-	-
Repurchase of Common Stock	-1,554	-1,554	-2,131	-2,325	-4,179	-
Common Dividends Paid	-28,063	-27,636	-42,108	-40,760	-56,903	-35,110
Other Financing Activities	-5,831	-8,979	-11,737	-14,648	-10,087	-21,647
Financing Cash Flow	-25,456	-26,074	-19,237	22,732	-39,699	-57,942
Foreign Exchange Rate Adjustments	-846	-192	653	-21	3,288	-1,003
Net Cash Flow	-8,908	-10,242	-30,464	28,321	-15,152	21,031
Free Cash Flow	14,191	28,871	10,154	-10,018	-56,258	80,253
Free Cash Flow Growth	-60.72%	184.33%	-	-	-	117.58%
Free Cash Flow Margin	0.52%	1.04%	0.33%	-0.31%	-1.70%	2.93%
Free Cash Flow Per Share	0.12	0.24	0.08	-0.08	-0.47	0.66
Cash Interest Paid	7,375	7,375	7,912	7,997	9,679	5,849
Cash Income Tax Paid	3,244	14,854	16,040	14,189	17,318	23,786
Levered Free Cash Flow	38,488	21,426	8,908	-36,203	-65,659	69,581
Unlevered Free Cash Flow	50,517	33,456	20,534	-24,909	-55,178	78,967
Change in Working Capital	-11,754	-11,754	-37,825	-38,241	-73,810	15,859

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