HKG:0916 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	4,526	6,355	8,488	7,684	10,020
Depreciation & Amortization	12,940	11,768	10,907	10,249	9,004
Other Amortization	48.28	12.97	12.58	11.32	11.57
Loss (Gain) on Sale of Assets	-32.54	10.29	6.15	-1.73	-5.3
Loss (Gain) on Sale of Investments	-160.04	-937.16	48.57	108.09	-196.89
Loss (Gain) on Equity Investments	-	-	-27.5	419.37	576.86
Asset Writedown	47.54	1,113	2,158	2,045	256.23
Change in Accounts Receivable	-231.25	-9,569	-11,043	5,021	-5,677
Change in Inventory	30.01	-122.6	18.74	7.05	55.73
Change in Accounts Payable	182.03	2,972	-	-	992.7
Change in Other Net Operating Assets	-	-	1,989	1,989	1,433
Other Operating Activities	4,252	5,454	1,701	2,044	1,455
Operating Cash Flow	21,833	17,109	14,333	29,568	18,120
Operating Cash Flow Growth	27.61%	19.37%	-51.52%	63.18%	47.64%
Capital Expenditures	-23,909	-26,881	-23,830	-22,470	-18,227
Sale of Property, Plant & Equipment	18.68	14.08	1.01	18.72	481.55
Cash Acquisitions	-	-374.82	-	3,358	-773.84
Divestitures	-	1,116	-7.05	-	-11.4
Investment in Securities	180.82	-74.9	-2,387	604.89	-977.92
Other Investing Activities	128.47	115.01	2,069	-747.14	145.98
Investing Cash Flow	-23,581	-26,085	-24,152	-19,109	-19,010
Long-Term Debt Issued	216,258	247,814	152,787	169,623	120,022
Long-Term Debt Repaid	-208,904	-230,939	-152,155	-155,274	-116,032
Net Debt Issued (Repaid)	7,355	16,875	632.56	14,349	3,990
Repurchase of Common Stock	-	-2,126	-56.78	-	-
Common Dividends Paid	-6,089	-5,523	-1,178	-1,468	-945.08
Other Financing Activities	-507.42	-1,914	-3,250	-8,904	-3,851
Financing Cash Flow	757.94	7,311	-3,852	3,977	-806.51
Foreign Exchange Rate Adjustments	-149.03	-32.5	5.17	-11.12	6.86
Net Cash Flow	-1,139	-1,697	-13,666	14,425	-1,689
Free Cash Flow	-2,076	-9,772	-9,497	7,098	-106.97
Free Cash Flow Margin	-6.86%	-26.29%	-32.05%	17.81%	-0.27%
Free Cash Flow Per Share	-0.25	-1.17	-1.13	0.85	-0.01
Cash Interest Paid	-	-	3,619	3,533	3,823
Cash Income Tax Paid	3,419	3,341	1,780	1,570	1,692
Levered Free Cash Flow	-9,889	-15,544	-10,372	-3,698	-6,739
Unlevered Free Cash Flow	-7,847	-13,355	-8,235	-1,509	-4,592
Change in Working Capital	210.5	-6,667	-9,036	7,018	-3,196

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