HKG:1090 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	-35.56	-414.58	-219.07	-178.3	495.04
Depreciation & Amortization	458.38	446.09	433.28	417.5	412.03
Other Amortization	4.89	5.5	5.12	4.08	3.33
Loss (Gain) From Sale of Assets	-	0.71	0.68	0.48	2.39
Provision & Write-off of Bad Debts	-	16.74	11.52	0.92	-0.67
Other Operating Activities	99.1	-42.11	-5.53	-315.76	215.43
Change in Accounts Receivable	-	196.08	-35.94	-218.88	-323.66
Change in Inventory	-	113.2	-477.99	351.03	-645.33
Change in Accounts Payable	-	252.04	326.5	185.77	51.72
Change in Unearned Revenue	-	14.09	4.82	11.43	209.81
Change in Other Net Operating Assets	-	-148.3	23.87	14.02	16.16
Operating Cash Flow	526.81	439.46	67.28	272.28	436.24
Operating Cash Flow Growth	19.88%	553.18%	-75.29%	-37.59%	27.94%
Capital Expenditures	-224.7	-442.37	-638.89	-651.84	-617.24
Sale of Property, Plant & Equipment	-	0.43	1.44	1.54	35.46
Sale (Purchase) of Intangibles	-	-1.75	-27.66	-6.99	-71.3
Other Investing Activities	-59.42	11.35	10.65	8.12	8.27
Investing Cash Flow	-284.12	-432.33	-654.46	-649.17	-644.81
Long-Term Debt Issued	-	15,434	11,324	10,184	10,492
Long-Term Debt Repaid	-	-11,007	-7,668	-6,635	-7,690
Net Debt Issued (Repaid)	-	4,426	3,657	3,548	2,802
Issuance of Common Stock	-	-	-	-	85.35
Common Dividends Paid	-	-	-	-65.35	-124.41
Other Financing Activities	-286.7	-4,545	-3,212	-2,847	-2,514
Financing Cash Flow	-286.7	-118.77	444.39	635.9	248.89
Foreign Exchange Rate Adjustments	-0.69	0.22	1.24	6.65	-2.31
Net Cash Flow	-44.71	-111.42	-141.55	265.66	38.01
Free Cash Flow	302.1	-2.91	-571.61	-379.56	-181.01
Free Cash Flow Margin	0.68%	-0.01%	-1.13%	-0.76%	-0.39%
Free Cash Flow Per Share	0.24	-0.00	-0.45	-0.30	-0.15
Cash Interest Paid	-	288.55	273.79	275.57	270.95
Cash Income Tax Paid	-	22.58	51.63	135.66	163.03
Levered Free Cash Flow	491.82	25.56	-499.17	-639.46	-524.26
Unlevered Free Cash Flow	655.75	204.57	-328.06	-466.85	-354.09
Change in Working Capital	-	427.11	-158.73	343.36	-691.31

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