HKG:0719 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	Jan '23 Jan 1, 2023	Dec '21 Dec 31, 2021
Net Income	289.89	470.02	496.51	411.06	348.55
Depreciation & Amortization	-	540.95	516.94	489.4	438.58
Other Amortization	-	4.73	3.32	2.75	2.48
Loss (Gain) From Sale of Assets	-	-1.42	-8.73	-5.54	-2.07
Asset Writedown & Restructuring Costs	-	5.12	-33.26	-39.29	-84.79
Loss (Gain) From Sale of Investments	-	-9.84	-9.58	-8.36	-8.02
Provision & Write-off of Bad Debts	-	8.49	10.73	5.24	2.32
Other Operating Activities	243.84	110.12	121.24	122.37	97.65
Change in Accounts Receivable	-	-629.94	-423.54	-717.33	-751.07
Change in Inventory	-	-11.43	-120.86	-200.14	76.18
Change in Accounts Payable	-	-153.63	-332.39	632.33	121.63
Change in Other Net Operating Assets	-	35.88	53.07	45.8	3.96
Operating Cash Flow	533.73	367.61	265.28	758.24	259.12
Operating Cash Flow Growth	45.19%	38.57%	-65.01%	192.63%	-38.33%
Capital Expenditures	-	-212.42	-325.13	-244.76	-249.23
Sale of Property, Plant & Equipment	-	0.65	11.86	7.94	2.43
Investment in Securities	-	-8.63	-	-	-
Other Investing Activities	-103.5	8.18	8.17	7.92	9.11
Investing Cash Flow	-103.5	-212.21	-305.11	-228.9	-237.69
Long-Term Debt Issued	-	860.31	862.43	833.79	551.41
Long-Term Debt Repaid	-	-554.05	-888.15	-1,106	-603.48
Net Debt Issued (Repaid)	-	306.26	-25.72	-272.57	-52.07
Issuance of Common Stock	-	63.26	6.02	274.69	32.97
Common Dividends Paid	-	-225.85	-175.9	-163.01	-148.43
Other Financing Activities	-291.13	41.11	-0.5	30.24	27.8
Financing Cash Flow	-291.13	184.78	-196.11	-130.66	-139.73
Foreign Exchange Rate Adjustments	-	15.01	6.86	15.69	-7.87
Miscellaneous Cash Flow Adjustments	7.24	-	-	-	-
Net Cash Flow	146.33	355.19	-229.08	414.37	-126.17
Free Cash Flow	533.73	155.19	-59.85	513.48	9.89
Free Cash Flow Growth	243.92%	-	-	5092.02%	-92.94%
Free Cash Flow Margin	6.10%	1.83%	-0.74%	6.84%	0.15%
Free Cash Flow Per Share	0.77	0.23	-0.09	0.77	0.02
Cash Income Tax Paid	-	96.2	239.79	66.25	44.5
Levered Free Cash Flow	571.62	551.12	50.07	779.34	222.79
Unlevered Free Cash Flow	593.22	575.96	75.79	810.41	255.98
Change in Working Capital	-	-760.56	-831.87	-219.39	-535.59

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