HKG:0405 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	-633.48	-336.59	-3.96	-510.94	674.56	587.12
Depreciation & Amortization	148.78	151.67	149.98	146.88	144.68	142.33
Other Amortization	19.34	19.34	21.9	27.08	28.17	29.05
Gain (Loss) on Sale of Assets	-0.05	-0.05	0.01	0.08	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-	-0.63
Asset Writedown	342.73	342.73	-27.58	95.81	-78.67	297.63
Change in Accounts Receivable	4.14	4.14	10.44	-6.51	-8.49	-0.28
Change in Accounts Payable	2.25	2.25	-10.93	-2.37	8.32	5.04
Change in Other Net Operating Assets	22.63	22.63	217.54	-59.6	85.99	113.31
Other Operating Activities	465.01	11.63	93.17	663.43	-81.09	-478.64
Operating Cash Flow	372.25	218.65	451.11	354.14	774.54	694.83
Operating Cash Flow Growth	1.85%	-51.53%	27.38%	-54.28%	11.47%	-11.88%
Acquisition of Real Estate Assets	-64.56	-62.9	-68.03	-69.66	-70.29	-44.35
Sale of Real Estate Assets	0.27	0.45	0.04	0.01	0.03	0.01
Net Sale / Acq. of Real Estate Assets	-64.3	-62.45	-67.99	-69.65	-70.26	-44.34
Cash Acquisition	-	-	-	-3,641	-4,117	-
Investment in Marketable & Equity Securities	50	60	-60	-26.48	-0.39	-0.39
Other Investing Activities	20.93	24.62	36.18	25.51	26.14	31.99
Investing Cash Flow	6.63	22.17	-91.81	-3,711	-4,162	-12.74
Long-Term Debt Issued	-	5,969	6,776	5,445	7,708	4,086
Long-Term Debt Repaid	-	-5,945	-6,810	-4,602	-3,785	-3,566
Net Debt Issued (Repaid)	-73.27	24.36	-33.5	842.85	3,923	519.9
Issuance of Common Stock	-	-	-	3,222	-	-
Common Dividends Paid	-315.91	-335.23	-453.74	-893.24	-682.35	-694.11
Other Financing Activities	0.09	40.89	210.26	102.75	-205.25	-24.39
Foreign Exchange Rate Adjustments	0.07	7.59	1.63	-36.69	2.38	-
Net Cash Flow	-10.14	-21.57	83.95	-119.58	-349.14	483.49
Cash Interest Paid	837.08	886.7	854.72	539.96	326.48	444.08
Cash Income Tax Paid	151.41	140.81	146.26	139.32	87.25	102.05
Levered Free Cash Flow	337.35	244.74	261.96	39.98	748.15	588.75
Unlevered Free Cash Flow	857.61	804.36	818.72	373.75	942.09	856.15
Change in Working Capital	29.23	29.23	217.06	-68.3	86.84	117.86

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.