HKG:0587 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	6.28	264.13	328.66	578.61
Depreciation & Amortization	317.68	256.61	221.77	160.5
Other Amortization	0.85	0.65	0.53	0.3
Loss (Gain) From Sale of Assets	0.32	0.02	1	-13.73
Asset Writedown & Restructuring Costs	10.37	-	-	-
Loss (Gain) From Sale of Investments	-	-	-	-0.86
Loss (Gain) on Equity Investments	5.52	-0.69	-5	-9.81
Provision & Write-off of Bad Debts	19.63	15.26	3.42	12.9
Other Operating Activities	83.79	132.06	115.24	115.47
Change in Accounts Receivable	78.22	-152.1	-131.46	-179.67
Change in Inventory	-7.06	-11.41	-9.78	-4.24
Change in Accounts Payable	1.22	110.74	12.52	134.9
Change in Unearned Revenue	3.2	2.95	0.82	6.29
Change in Other Net Operating Assets	-85.93	12.89	5.28	-32.94
Operating Cash Flow	434.08	631.11	542.99	767.72
Operating Cash Flow Growth	-31.22%	16.23%	-29.27%	69.30%
Capital Expenditures	-560.13	-768.77	-1,441	-1,803
Sale of Property, Plant & Equipment	0.73	0.06	3.06	1.3
Cash Acquisitions	-	-90.65	-101.09	-66.31
Divestitures	-	-	5.71	39.97
Investment in Securities	41.04	-58.44	14.98	-8.2
Other Investing Activities	-21.82	-55.92	110.59	-345.66
Investing Cash Flow	-540.18	-973.72	-1,407	-2,182
Short-Term Debt Issued	-	-	-	219.63
Long-Term Debt Issued	3,191	1,223	1,926	2,169
Total Debt Issued	3,191	1,223	1,926	2,389
Short-Term Debt Repaid	-	-	-	-565.24
Long-Term Debt Repaid	-2,803	-741	-1,197	-165.26
Total Debt Repaid	-2,803	-741	-1,197	-730.49
Net Debt Issued (Repaid)	387.85	481.63	729.17	1,658
Common Dividends Paid	-51.33	-	-	-
Other Financing Activities	-131.05	-165.81	-187.85	-286.68
Financing Cash Flow	205.46	315.82	541.32	1,372
Net Cash Flow	99.37	-26.8	-323.06	-42.67
Free Cash Flow	-126.04	-137.67	-897.62	-1,035
Free Cash Flow Margin	-7.47%	-7.32%	-51.90%	-60.98%
Free Cash Flow Per Share	-0.07	-0.07	-0.49	-0.54
Cash Interest Paid	139.98	145.75	131.42	81.21
Cash Income Tax Paid	32.08	57.5	58.55	44.74
Levered Free Cash Flow	-274.76	-303.89	-940.91	-2,165
Unlevered Free Cash Flow	-201.47	-240.45	-883.39	-2,132
Change in Working Capital	-10.36	-36.93	-122.62	-75.66

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