HKG:0811 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,608	1,545	1,579	1,397	1,306
Depreciation & Amortization	286.36	262.53	286.08	268.11	290.42
Other Amortization	13.68	53.19	30.18	19.64	12.96
Loss (Gain) From Sale of Assets	-72.6	-1.66	-2.18	-40.43	-2.02
Asset Writedown & Restructuring Costs	-3.03	-3.35	3.17	4.81	0.06
Loss (Gain) From Sale of Investments	-171.98	-171.48	-1.6	23.28	-183.78
Provision & Write-off of Bad Debts	-	33.27	105.25	139.37	130.25
Other Operating Activities	-130.06	66.82	79.02	22.39	48.59
Change in Accounts Receivable	77.61	-229.8	170.83	-44.1	46.55
Change in Inventory	90.42	172.53	-138.67	131.59	-659.93
Change in Accounts Payable	-201.18	-45.96	325.55	124.78	1,054
Operating Cash Flow	1,508	1,772	2,353	2,024	2,047
Operating Cash Flow Growth	-14.90%	-24.67%	16.23%	-1.12%	12.57%
Capital Expenditures	-178.96	-151.2	-180.49	-216.71	-273.75
Sale of Property, Plant & Equipment	119.45	2.39	6.1	41.6	3.95
Cash Acquisitions	-	-	-	-71.73	-
Investment in Securities	5.01	-869.67	-403.29	370.28	-1,082
Other Investing Activities	-2,240	195.52	116.73	109	73.15
Investing Cash Flow	-2,294	-822.95	-460.95	232.44	-1,279
Short-Term Debt Issued	-	10	10	18	-
Long-Term Debt Issued	10	-	-	-	-
Total Debt Issued	10	10	10	18	-
Short-Term Debt Repaid	-	-10	-18	-	-
Long-Term Debt Repaid	-10	-114.41	-112.23	-115.1	-128.77
Total Debt Repaid	-10	-124.41	-130.23	-115.1	-128.77
Net Debt Issued (Repaid)	-	-114.41	-120.23	-97.1	-128.77
Common Dividends Paid	-740.62	-950.32	-420.25	-394.85	-382.49
Other Financing Activities	-156.5	-0.56	-35.34	-0.57	-0.53
Financing Cash Flow	-897.12	-1,065	-575.82	-492.51	-511.8
Net Cash Flow	-1,683	-115.76	1,316	1,764	256.93
Free Cash Flow	1,329	1,621	2,173	1,808	1,774
Free Cash Flow Growth	-18.00%	-25.37%	20.18%	1.92%	12.80%
Free Cash Flow Margin	11.33%	13.15%	18.30%	16.54%	16.96%
Free Cash Flow Per Share	1.08	1.31	1.76	1.46	1.44
Cash Interest Paid	-	-	-	-	0.02
Cash Income Tax Paid	-2.06	289.01	113.49	42.84	131.15
Levered Free Cash Flow	752.37	737.92	1,566	1,134	890.73
Unlevered Free Cash Flow	752.37	745.7	1,577	1,147	902.91
Change in Working Capital	-21.62	-11.7	273.97	190.54	444.89

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