HKG:1053 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	-2,722	-3,196	-1,494	-1,019	2,274
Depreciation & Amortization	1,746	1,759	1,694	1,470	1,247
Other Amortization	25.07	-	0.28	0.15	41.49
Loss (Gain) From Sale of Assets	-16.99	-2.56	-4.5	-1.68	4.73
Asset Writedown & Restructuring Costs	2,410	1,183	115.1	117.11	440.33
Loss (Gain) From Sale of Investments	-	-	-	-32.67	-16.34
Provision & Write-off of Bad Debts	2.46	3.53	-	0.05	0.02
Other Operating Activities	215.64	192.43	390.02	410.77	583.83
Change in Accounts Receivable	-193.95	-578.25	-217.35	495.62	-2,338
Change in Inventory	130.54	864.74	-217.13	1,105	1,130
Change in Accounts Payable	25.03	1,163	1,002	-879.21	2,268
Change in Other Net Operating Assets	41.73	17.63	6.58	-11.22	-3.59
Operating Cash Flow	1,649	1,310	1,022	1,470	5,621
Operating Cash Flow Growth	25.88%	28.16%	-30.48%	-73.85%	320.21%
Capital Expenditures	-997.24	-766.09	-816.38	-2,693	-4,891
Sale of Property, Plant & Equipment	2.57	-	6.74	1.68	45.02
Cash Acquisitions	-	-	-	-	-114.36
Divestitures	-	-	1.07	-	-
Investment in Securities	-641.3	-30.35	-	551.1	-600
Other Investing Activities	8.32	7.23	7.5	28.61	24.58
Investing Cash Flow	-1,628	-789.2	-801.07	-2,111	-5,536
Long-Term Debt Issued	2,912	2,481	2,450	3,908	6,454
Long-Term Debt Repaid	-3,621	-1,796	-4,529	-4,861	-5,125
Net Debt Issued (Repaid)	-709.21	684.64	-2,079	-953.33	1,329
Issuance of Common Stock	-	-	-	-	65.94
Repurchase of Common Stock	-	-69.76	-	-	-
Common Dividends Paid	-184.58	-154.96	-247.8	-299.68	-345.74
Other Financing Activities	-	-	-	-	-0.58
Financing Cash Flow	-893.79	459.92	-2,327	-1,253	1,049
Net Cash Flow	-872.53	980.58	-2,106	-1,894	1,134
Free Cash Flow	651.67	543.78	205.66	-1,223	730.11
Free Cash Flow Growth	19.84%	164.41%	-	-	-34.50%
Free Cash Flow Margin	2.71%	2.00%	0.52%	-3.34%	1.83%
Free Cash Flow Per Share	0.07	0.06	0.02	-0.14	0.08
Cash Income Tax Paid	172.96	157.05	331.52	433.16	374.61
Levered Free Cash Flow	1,799	1,179	1,694	-1,681	2,319
Unlevered Free Cash Flow	1,924	1,295	1,861	-1,495	2,623
Change in Working Capital	-10.83	1,370	321.53	525.55	1,046

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