China Merchants Land 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	-1,851	133.41	329.66	560.57
Depreciation & Amortization	211.37	231.7	225.44	277.95
Loss (Gain) From Sale of Assets	0.05	-0.05	-56.68	0
Asset Writedown & Restructuring Costs	160.21	-	-	-
Loss (Gain) From Sale of Investments	183.62	36.42	-10.61	-10.94
Loss (Gain) on Equity Investments	246.31	-368.08	-263.94	-414.49
Provision & Write-off of Bad Debts	335.15	2.5	59.06	262.07
Other Operating Activities	-42.37	1,394	1,016	358.52
Change in Accounts Receivable	191.49	5,378	213.61	473.25
Change in Inventory	9,160	7,081	11,378	-16,284
Change in Accounts Payable	-5,899	-4,961	-5,987	5,101
Change in Unearned Revenue	2,516	-6,703	-1,347	3,569
Change in Other Net Operating Assets	1,336	-2,777	-409.28	-6.3
Operating Cash Flow	6,548	-551.79	5,149	-6,113
Capital Expenditures	-1.42	-14.77	-27.75	-12.52
Sale of Property, Plant & Equipment	0.09	0.34	0.23	0.2
Cash Acquisitions	-26.56	302.41	-	528.13
Divestitures	-	-	398.85	-
Sale (Purchase) of Real Estate	-	-0.23	-2.32	-96.82
Investment in Securities	-434.05	-2,294	-861.81	1,351
Other Investing Activities	1,054	-2,346	-6,082	-2,768
Investing Cash Flow	592.2	-4,352	-6,574	-997.67
Short-Term Debt Issued	2,427	1,850	4,238	4,961
Long-Term Debt Issued	20,525	28,690	29,964	35,663
Total Debt Issued	22,951	30,540	34,202	40,623
Short-Term Debt Repaid	-1,168	-367.62	-1,442	-2,828
Long-Term Debt Repaid	-23,779	-27,557	-32,143	-22,906
Total Debt Repaid	-24,947	-27,925	-33,584	-25,734
Net Debt Issued (Repaid)	-1,996	2,616	618.31	14,889
Common Dividends Paid	-53.7	-401.43	-876.83	-286.64
Other Financing Activities	-1,286	-1,880	-1,504	-2,782
Financing Cash Flow	-3,335	334.31	-1,762	11,820
Foreign Exchange Rate Adjustments	-19.27	-15.35	105.35	-5.02
Net Cash Flow	3,785	-4,585	-3,083	4,704
Free Cash Flow	6,546	-566.56	5,121	-6,126
Free Cash Flow Margin	31.68%	-1.97%	17.14%	-23.63%
Free Cash Flow Per Share	1.33	-0.12	1.04	-1.25
Cash Interest Paid	1,300	1,527	1,518	1,240
Cash Income Tax Paid	1,181	1,677	2,265	3,433
Levered Free Cash Flow	2,865	2,567	20,208	-3,227
Unlevered Free Cash Flow	3,225	3,030	20,601	-2,795
Change in Working Capital	7,304	-1,982	3,849	-7,147

Source: S&P Global Market Intelligence. Standard template. Financial Sources.