HKG:0535 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	-4,571	342.72	2,324	4,014
Depreciation & Amortization	67.4	66.16	48.15	67.09
Loss (Gain) From Sale of Assets	-0.58	3.64	-20.66	-177.27
Asset Writedown & Restructuring Costs	644.26	-84.02	-674.31	-1,386
Loss (Gain) From Sale of Investments	276.75	-13.03	-77.12	-179.85
Loss (Gain) on Equity Investments	2,378	356.31	-2,160	-1,881
Provision & Write-off of Bad Debts	404.31	325.86	-	-
Other Operating Activities	1,960	579.12	1,115	-1,009
Change in Accounts Receivable	589.76	2,504	3,263	5,316
Change in Inventory	9,030	8,310	2,939	3,122
Change in Accounts Payable	-10,933	-10,622	-4,734	-7,067
Change in Other Net Operating Assets	-	-	-	-722
Operating Cash Flow	-153.51	1,768	2,078	128.59
Operating Cash Flow Growth	-	-14.92%	1516.19%	-
Capital Expenditures	-35.94	-99.22	-48.49	-57.52
Sale of Property, Plant & Equipment	3.96	0.59	1.47	2.56
Cash Acquisitions	62.94	51.64	464.92	955.69
Divestitures	-	154.76	43.71	-139.85
Sale (Purchase) of Real Estate	-466.42	-461.67	-588.43	-872.61
Investment in Securities	4,066	210.48	-5,086	-3,154
Other Investing Activities	273.22	1,296	-415.72	4,678
Investing Cash Flow	3,904	1,153	-5,628	1,412
Short-Term Debt Issued	1,834	1,332	-	211.4
Long-Term Debt Issued	10,175	42,675	36,132	46,363
Total Debt Issued	12,010	44,007	36,132	46,574
Short-Term Debt Repaid	-521.54	-2,095	-	-860.11
Long-Term Debt Repaid	-14,219	-45,826	-33,544	-43,288
Total Debt Repaid	-14,741	-47,921	-33,544	-44,148
Net Debt Issued (Repaid)	-2,731	-3,913	2,588	2,426
Issuance of Common Stock	-	1.49	8.7	43.67
Common Dividends Paid	-17.11	-116.3	-996.58	-1,326
Other Financing Activities	-1,633	-2,524	-837.88	-1,062
Financing Cash Flow	-4,382	-6,552	762.08	82.3
Foreign Exchange Rate Adjustments	-1.4	32.02	68.97	-2.34
Net Cash Flow	-633	-3,599	-2,719	1,620
Free Cash Flow	-189.45	1,669	2,030	71.07
Free Cash Flow Growth	-	-17.78%	2755.93%	-
Free Cash Flow Margin	-1.44%	9.56%	19.70%	0.50%
Free Cash Flow Per Share	-0.01	0.10	0.12	0.00
Cash Interest Paid	1,436	1,663	1,360	736.86
Cash Income Tax Paid	491.19	1,282	560.33	2,086
Levered Free Cash Flow	2,037	-2,829	-1,583	-4,714
Unlevered Free Cash Flow	2,760	-1,994	-894.79	-4,180
Change in Working Capital	-1,313	191.43	1,469	649.19

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