HKG:1138 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	4,037	4,042	3,381	1,457	-4,975
Depreciation & Amortization	3,902	3,592	3,244	2,807	2,828
Other Amortization	12.19	1.97	3.6	3.6	3.28
Loss (Gain) From Sale of Assets	-666.25	-143.63	-402.87	-73.95	-21.5
Asset Writedown & Restructuring Costs	439.04	0.25	1.32	2.79	4,958
Loss (Gain) From Sale of Investments	-1,283	-1,181	-235.29	-1,063	-988.24
Provision & Write-off of Bad Debts	6.24	-6.51	7.75	1.62	-30.76
Other Operating Activities	1,759	1,525	2,028	1,222	1,119
Change in Accounts Receivable	-1,245	293	63.09	-931.88	218.87
Change in Inventory	355.61	173.2	131.87	-264.87	-153.73
Change in Accounts Payable	-244.9	185.4	383.47	366.67	413.78
Change in Other Net Operating Assets	68.94	39.96	-9.64	2.55	3.92
Operating Cash Flow	7,389	8,665	8,971	4,211	3,395
Operating Cash Flow Growth	-14.73%	-3.41%	113.03%	24.05%	-51.99%
Capital Expenditures	-5,635	-8,185	-5,926	-4,450	-2,926
Sale of Property, Plant & Equipment	1,925	225.19	885.19	362.11	91.89
Investment in Securities	-123.27	-2,132	-541.66	-1,730	-528.89
Other Investing Activities	826.8	1,174	689.65	626.68	720.65
Investing Cash Flow	-3,007	-8,917	-4,893	-5,191	-2,642
Long-Term Debt Issued	8,132	12,182	11,196	14,978	7,245
Long-Term Debt Repaid	-8,681	-7,067	-12,305	-12,602	-7,353
Net Debt Issued (Repaid)	-548.43	5,115	-1,109	2,376	-107.37
Issuance of Common Stock	7,983	91.83	-	46.41	-
Common Dividends Paid	-2,396	-4,204	-2,165	-768.69	-1,634
Other Financing Activities	-738.14	-1,132	595.15	-136.34	-342.77
Financing Cash Flow	4,300	-129.37	-2,678	1,518	-2,084
Foreign Exchange Rate Adjustments	-98.82	151.41	51.66	178.53	-15.65
Net Cash Flow	8,584	-229.9	1,451	715.75	-1,347
Free Cash Flow	1,754	480.6	3,045	-238.76	468.51
Free Cash Flow Growth	264.96%	-84.21%	-	-	-70.04%
Free Cash Flow Margin	7.34%	2.07%	13.39%	-1.28%	3.69%
Free Cash Flow Per Share	0.36	0.10	0.64	-0.05	0.10
Cash Income Tax Paid	681.85	885.3	829.21	67.39	55.61
Levered Free Cash Flow	782.47	-1,823	549.16	-1,610	-460.14
Unlevered Free Cash Flow	1,618	-947.43	1,450	-953.29	50
Change in Working Capital	-817.45	834.85	942.86	-146.82	502.36

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