China Modern Dairy Holdings Ltd. (HKG:1117)
Hong Kong · Delayed Price · Currency is HKD 1.420
-0.010 (-0.70%)
Oct 6, 2026, 4:08 PM HKT
HKG:1117 Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | -196.44 | -1,129 | -1,417 | 175.16 | 562.5 | 1,019 |
Depreciation & Amortization | 505.88 | 530.06 | 532.37 | 450.17 | 397.9 | 295.52 |
Other Amortization | 3.76 | 3.76 | 3.3 | 2.94 | 0.86 | 0.05 |
Loss (Gain) From Sale of Assets | 22.78 | 22.78 | 16.33 | 20.21 | -15.16 | 9.66 |
Asset Writedown & Restructuring Costs | 3,112 | 3,112 | 3,462 | 1,280 | 990.11 | 956.01 |
Loss (Gain) From Sale of Investments | - | - | -15.21 | -5.05 | -2.47 | -1.82 |
Loss (Gain) on Equity Investments | -0.87 | -0.87 | -9.84 | 3.94 | -15.41 | -36.93 |
Stock-Based Compensation | 53 | 53 | 51.71 | 50.05 | 44.95 | 22.22 |
Provision & Write-off of Bad Debts | 14.74 | 14.74 | 18.65 | 17.22 | 1.97 | - |
Other Operating Activities | -394.61 | 234.87 | 125.77 | 377.83 | 648.3 | 58.3 |
Change in Accounts Receivable | 21.51 | 21.51 | 257.62 | 172.1 | -585.68 | -167.76 |
Change in Inventory | 60.63 | 60.63 | 43.27 | 417.32 | -940.09 | -309.39 |
Change in Accounts Payable | -498.22 | -498.22 | -707.47 | 2,460 | 399.19 | 19.83 |
Change in Unearned Revenue | 76.71 | 76.71 | 51.96 | 26.37 | 90.14 | 4.18 |
Change in Other Net Operating Assets | - | - | -9.86 | - | - | - |
Operating Cash Flow | 2,781 | 2,502 | 2,404 | 5,449 | 1,577 | 1,869 |
Operating Cash Flow Growth | 11.41% | 4.11% | -55.89% | 245.50% | -15.60% | -3.61% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -3,318 | -3,780 | -4,418 | -4,280 | -4,061 | -1,994 |
Sale of Property, Plant & Equipment | 1,303 | 1,345 | 1,035 | 1,081 | 1,146 | 804.81 |
Cash Acquisitions | -1.34 | - | 28.2 | -206.11 | -776.72 | -1,537 |
Divestitures | - | - | - | - | - | 7.41 |
Sale (Purchase) of Intangibles | -4.39 | -3.66 | -5.13 | -12.13 | -8.27 | -0.45 |
Investment in Securities | -2,055 | -1,656 | -601.97 | -653.73 | -281.68 | -267.72 |
Other Investing Activities | -1,621 | 253.01 | -6.22 | 190.66 | -12.49 | 107.41 |
Investing Cash Flow | -5,696 | -3,841 | -3,968 | -3,881 | -3,991 | -2,874 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Short-Term Debt Issued | - | 199.8 | - | - | 100 | - |
Long-Term Debt Issued | - | 12,372 | 9,163 | 5,971 | 8,283 | 6,707 |
Total Debt Issued | 10,893 | 12,572 | 9,163 | 5,971 | 8,383 | 6,707 |
Short-Term Debt Repaid | - | - | - | -100 | - | - |
Long-Term Debt Repaid | - | -7,853 | -7,155 | -7,093 | -5,119 | -5,972 |
Lease Payments | -111.45 | -112.09 | -185.25 | -135.87 | -66.65 | -14.46 |
Total Debt Repaid | -7,123 | -7,853 | -7,155 | -7,193 | -5,119 | -5,972 |
Net Debt Issued (Repaid) | 3,771 | 4,719 | 2,007 | -1,222 | 3,264 | 735.25 |
Issuance of Common Stock | - | - | - | - | - | 1,295 |
Repurchase of Common Stock | -94.4 | -58.59 | -57.7 | -47.41 | -13.3 | -53.05 |
Common Dividends Paid | - | -95.59 | -34.89 | -112 | -204.39 | -142.53 |
Other Financing Activities | -122.57 | -563.24 | 86.72 | -252.9 | -458.31 | -194.83 |
Financing Cash Flow | 3,554 | 4,002 | 2,001 | -1,634 | 2,588 | 1,640 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -174.83 | -44.4 | 1.11 | 1.44 | 12.87 | - |
Net Cash Flow | 463.52 | 2,619 | 438.15 | -64.67 | 186.73 | 634.55 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | -537.16 | -1,278 | -2,014 | 1,168 | -2,484 | -125.57 |
Free Cash Flow Growth | - | - | - | - | - | - |
Free Cash Flow Margin | -4.09% | -10.14% | -15.20% | 8.68% | -20.20% | -1.77% |
Free Cash Flow Per Share | -0.07 | -0.16 | -0.26 | 0.15 | -0.32 | -0.02 |
Levered Free Cash Flow | -3,927 | -2,921 | -3,093 | 201.33 | -4,641 | -369.31 |
Unlevered Free Cash Flow | -3,491 | -2,523 | -2,763 | 527.11 | -4,404 | -245.48 |
Free Cash Flow After Leases | -648.6 | -1,390 | -2,199 | 1,033 | -2,550 | -140.03 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Cash Interest Paid | 600.42 | 542.98 | 500.58 | 427.59 | 384.63 | 191.67 |
Cash Income Tax Paid | 12.08 | 14.36 | 39.83 | 21.37 | 20.16 | 1.98 |
Change in Working Capital | -339.38 | -339.38 | -364.48 | 3,076 | -1,036 | -453.15 |