HKG:0842 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	566.39	535.37	481.08	136.13
Depreciation & Amortization	401.49	351.86	368.84	364.53
Other Amortization	263.96	229.31	192.71	183.92
Loss (Gain) From Sale of Assets	1.07	14.08	1.49	5.93
Loss (Gain) From Sale of Investments	45.6	12.11	-42.42	8.11
Stock-Based Compensation	4.36	5.01	4.92	2.93
Provision & Write-off of Bad Debts	58.78	-4.13	27.52	23.76
Other Operating Activities	345.68	166.86	194.64	157.58
Change in Accounts Receivable	-441.75	-452.38	-27.89	-329.79
Change in Inventory	-643.11	-397.81	-126.07	-249.68
Change in Accounts Payable	-425.82	528.81	36.03	179.86
Change in Other Net Operating Assets	-203.54	2.48	-266.79	143
Operating Cash Flow	1.67	963.7	788.16	718.74
Operating Cash Flow Growth	-99.83%	22.27%	9.66%	-5.81%
Capital Expenditures	-954.96	-623.66	-368.93	-280.6
Sale of Property, Plant & Equipment	17	5.59	3.17	7.38
Cash Acquisitions	-116.66	62.78	-3.32	-
Sale (Purchase) of Intangibles	-0.27	-14.33	-3.06	-4.76
Investment in Securities	-47.75	-53.93	-19.53	-31.5
Other Investing Activities	92.18	-340.71	-419.59	-379.97
Investing Cash Flow	-1,010	-964.28	-811.26	-689.44
Long-Term Debt Issued	8,392	6,457	4,521	5,354
Long-Term Debt Repaid	-7,789	-4,931	-4,284	-5,251
Net Debt Issued (Repaid)	603.88	1,526	237.06	102.34
Issuance of Common Stock	11.98	7.19	0.09	0.12
Common Dividends Paid	-138.15	-171.66	-	-
Other Financing Activities	-293.14	-223.55	-156.22	-143.69
Financing Cash Flow	184.56	1,138	80.93	-41.23
Foreign Exchange Rate Adjustments	4.86	-10.31	29.13	-25.99
Net Cash Flow	-819.37	1,127	86.97	-37.92
Free Cash Flow	-953.29	340.03	419.24	438.14
Free Cash Flow Growth	-	-18.89%	-4.31%	26.41%
Free Cash Flow Margin	-5.91%	2.52%	3.26%	3.88%
Free Cash Flow Per Share	-0.65	0.23	0.31	0.32
Cash Interest Paid	293.14	223.55	156.22	143.69
Cash Income Tax Paid	81.93	63.61	37.25	27.97
Levered Free Cash Flow	-1,362	36.72	-59.76	-41.61
Unlevered Free Cash Flow	-1,174	176.44	37.87	48.31
Change in Working Capital	-1,686	-346.77	-440.6	-164.15

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