HKG:1044 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	2,535	2,299	2,801	1,925	3,274
Depreciation & Amortization	1,025	962.37	875.55	864.71	851.03
Other Amortization	25.78	24.54	24.27	22.28	19.88
Loss (Gain) From Sale of Assets	47.3	-124.7	26.84	69.25	31.34
Asset Writedown & Restructuring Costs	2.18	-	5.88	-	-
Loss (Gain) From Sale of Investments	25.13	216.36	126.62	-	-41.91
Loss (Gain) on Equity Investments	-0.12	-0.38	-0.7	-	-
Stock-Based Compensation	2.51	8.87	45	66.19	-
Other Operating Activities	-519.24	-538.54	-447.76	-588.63	-311.23
Change in Accounts Receivable	63	317.18	328.14	780.24	317.43
Change in Inventory	308.88	-402.88	224.16	-328.99	138.91
Change in Accounts Payable	-274.62	311.02	-133.16	999.56	324.57
Operating Cash Flow	3,241	3,072	3,875	3,810	4,604
Operating Cash Flow Growth	5.49%	-20.72%	1.72%	-17.24%	-8.69%
Capital Expenditures	-960.67	-1,552	-1,470	-1,122	-781.33
Sale of Property, Plant & Equipment	10.39	140.36	28.42	10.84	5.09
Divestitures	-	-	-	-5.76	-
Sale (Purchase) of Intangibles	-87.94	40.2	-50.75	-123.04	-
Investment in Securities	-5,350	195.22	3,853	-5,532	2,518
Other Investing Activities	708.3	1,066	1,223	705.64	933.86
Investing Cash Flow	-5,680	-110.26	3,584	-6,066	2,676
Long-Term Debt Issued	25,436	25,874	19,905	23,560	19,960
Long-Term Debt Repaid	-22,748	-27,136	-22,803	-25,603	-22,325
Net Debt Issued (Repaid)	2,688	-1,262	-2,898	-2,043	-2,364
Repurchase of Common Stock	-25.73	-205.46	-358.4	-	-936.73
Common Dividends Paid	-1,594	-1,594	-1,627	-1,627	-2,706
Other Financing Activities	-299.31	-530.04	-665.59	-467.37	-479.48
Financing Cash Flow	769.04	-3,592	-5,549	-4,137	-6,487
Foreign Exchange Rate Adjustments	-36.64	54.05	23.12	142.25	-60.4
Net Cash Flow	-1,706	-575.84	1,933	-6,251	732.76
Free Cash Flow	2,280	1,521	2,406	2,688	3,822
Free Cash Flow Growth	49.96%	-36.78%	-10.51%	-29.67%	-10.71%
Free Cash Flow Margin	9.89%	6.71%	10.12%	11.89%	18.39%
Free Cash Flow Per Share	2.00	1.33	2.07	2.31	3.25
Cash Interest Paid	282.5	518.06	651.66	458.37	469.65
Cash Income Tax Paid	537.6	730.88	769.21	993.17	831.18
Levered Free Cash Flow	1,690	1,253	1,828	1,912	3,321
Unlevered Free Cash Flow	1,871	1,550	2,225	2,196	3,602
Change in Working Capital	97.26	225.33	419.15	1,451	780.91

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