HKG:0956 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	1,826	1,672	2,207	2,293	2,295
Depreciation & Amortization	3,269	3,041	2,371	2,320	2,121
Other Amortization	-	38.7	8.23	8.95	7.34
Loss (Gain) on Sale of Assets	-	-0.62	3.34	-0.29	-0.24
Loss (Gain) on Sale of Investments	-	-148.14	-365.63	-255.24	-295.94
Asset Writedown	-	307.33	117.71	41.53	19.03
Change in Accounts Receivable	-	-1,060	-903.39	902.8	-3,159
Change in Inventory	-	-1,154	-861.79	109.66	-156.08
Change in Accounts Payable	-	-397.18	588.4	266.97	1,701
Change in Other Net Operating Assets	-	2.35	49.92	4.82	-
Other Operating Activities	2,202	1,488	1,632	1,781	1,788
Operating Cash Flow	7,297	3,721	4,852	7,463	4,333
Operating Cash Flow Growth	96.11%	-23.31%	-34.99%	72.26%	11.14%
Capital Expenditures	-9,273	-7,525	-6,578	-7,288	-7,946
Sale of Property, Plant & Equipment	14.46	18.55	20.83	9.84	0.68
Cash Acquisitions	-197.54	-	-45.48	-128.44	-39.23
Divestitures	430.33	-	-	-	3.92
Investment in Securities	-99.45	211.97	22.37	-848.7	-307.04
Other Investing Activities	328.31	352.55	163.93	606.26	976.3
Investing Cash Flow	-8,797	-6,942	-6,416	-7,649	-7,311
Long-Term Debt Issued	18,705	17,477	12,993	12,686	14,278
Long-Term Debt Repaid	-16,848	-11,702	-12,688	-9,766	-8,859
Net Debt Issued (Repaid)	1,857	5,775	304.51	2,920	5,419
Issuance of Common Stock	2,880	76.26	-	-	5,584
Repurchase of Common Stock	-	-1,040	-	-910	-590
Common Dividends Paid	-2,127	-2,271	-2,209	-2,282	-1,965
Other Financing Activities	683.16	350.36	-405.89	96.32	201.08
Financing Cash Flow	3,294	2,890	-2,310	-175.59	8,649
Foreign Exchange Rate Adjustments	-4.83	-4.17	-11.89	-6.49	-0.98
Net Cash Flow	1,789	-335.34	-3,886	-367.4	5,670
Free Cash Flow	-1,976	-3,804	-1,726	175.72	-3,613
Free Cash Flow Margin	-9.96%	-17.80%	-8.51%	0.95%	-22.39%
Free Cash Flow Per Share	-0.47	-0.91	-0.41	0.04	-0.94
Cash Income Tax Paid	704.47	863.5	928.49	721.44	645.55
Levered Free Cash Flow	-1,115	-6,371	-4,683	-940.35	-3,559
Unlevered Free Cash Flow	-447.53	-5,597	-4,004	-168.31	-2,791
Change in Working Capital	-	-2,682	-1,135	1,285	-1,624

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