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	587.52	540.95	516.94	489.4	438.58
Other Amortization	4.35	4.73	3.32	2.75	2.48
Loss (Gain) From Sale of Assets	-1.99	-1.42	-8.73	-5.54	-2.07
Asset Writedown & Restructuring Costs	1.11	5.12	-33.26	-39.29	-84.79
Loss (Gain) From Sale of Investments	-7.76	-9.84	-9.58	-8.36	-8.02
Provision & Write-off of Bad Debts	6.2	8.49	10.73	5.24	2.32
Other Operating Activities	98.09	93.93	121.24	122.37	97.65
Change in Accounts Receivable	-547.75	-629.94	-423.54	-717.33	-751.07
Change in Inventory	-92.83	-11.43	-120.86	-200.14	76.18
Change in Accounts Payable	184.72	-153.63	-332.39	632.33	121.63
Change in Other Net Operating Assets	12.52	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	-115.6	-212.42	-325.13	-244.76	-249.23
Sale of Property, Plant & Equipment	0.77	0.65	11.86	7.94	2.43
Investment in Securities	1.53	-8.63	-	-	-
Other Investing Activities	9.8	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	979.8	860.31	862.43	833.79	551.41
Long-Term Debt Repaid	-1,114	-554.05	-888.15	-1,106	-603.48
Net Debt Issued (Repaid)	-133.72	306.26	-25.72	-272.57	-52.07
Issuance of Common Stock	53.17	63.26	6.02	274.69	32.97
Common Dividends Paid	-209.78	-225.85	-175.9	-163.01	-148.43
Other Financing Activities	-0.8	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	7.24	15.01	6.86	15.69	-7.87
Net Cash Flow	146.33	355.19	-229.08	414.37	-126.17
Free Cash Flow	418.13	155.19	-59.85	513.48	9.89
Free Cash Flow Growth	169.43%	-	-	5092.02%	-92.94%
Free Cash Flow Margin	4.78%	1.83%	-0.74%	6.84%	0.15%
Free Cash Flow Per Share	0.60	0.23	-0.09	0.77	0.02
Cash Income Tax Paid	142.5	96.2	239.79	66.25	44.5
Levered Free Cash Flow	654.46	551.12	50.07	779.34	222.79
Unlevered Free Cash Flow	680.98	575.96	75.79	810.41	255.98
Change in Working Capital	-443.67	-744.37	-831.87	-219.39	-535.59

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