HKG:1209 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	3,629	2,929	2,206	1,725
Depreciation & Amortization	268.7	257.19	216.91	118.86
Other Amortization	86.85	17.73	17.63	2.76
Loss (Gain) From Sale of Assets	-0.3	-3.56	-0.45	-12.32
Asset Writedown & Restructuring Costs	-39.04	-39.35	-43.26	-30
Loss (Gain) From Sale of Investments	-66.92	-	-	-28.06
Loss (Gain) on Equity Investments	-3.12	-2.65	-1.22	1.9
Provision & Write-off of Bad Debts	57.63	32.16	6.9	6.15
Other Operating Activities	-142.77	-79.91	-274.95	-200.84
Change in Accounts Receivable	-427.92	-389.35	-667.31	-226.52
Change in Inventory	-37.94	-54.56	-8.11	55.08
Change in Accounts Payable	-22.12	59.3	151.03	138.74
Change in Unearned Revenue	107.77	301.44	-87.33	410.28
Change in Other Net Operating Assets	848.6	14.32	375.08	328.85
Operating Cash Flow	4,259	3,042	1,891	2,290
Operating Cash Flow Growth	40.02%	60.84%	-17.41%	107.61%
Capital Expenditures	-355.66	-431.85	-114.21	-254.43
Sale of Property, Plant & Equipment	7.37	10.38	11.46	12.7
Cash Acquisitions	-141.38	2.2	-1,264	-
Sale (Purchase) of Intangibles	-36.41	-149.83	-6.84	-116.48
Investment in Securities	-3,042	-1,600	-	1,476
Other Investing Activities	604.59	342.32	308.95	301.69
Investing Cash Flow	-2,964	-1,827	-1,064	1,419
Short-Term Debt Issued	-	-	307.54	837.58
Total Debt Issued	-	-	307.54	837.58
Short-Term Debt Repaid	-	-	-1,154	-516.5
Long-Term Debt Repaid	-260.88	-169.8	-140.98	-125.06
Total Debt Repaid	-260.88	-169.8	-1,295	-641.56
Net Debt Issued (Repaid)	-260.88	-169.8	-987.45	196.02
Common Dividends Paid	-3,052	-2,090	-962.78	-300.08
Other Financing Activities	7.24	31.71	14.55	-217.75
Financing Cash Flow	-3,306	-2,228	-1,936	-321.82
Foreign Exchange Rate Adjustments	1.26	0.57	3.37	-1.54
Net Cash Flow	-2,009	-1,013	-1,105	3,386
Free Cash Flow	3,903	2,610	1,777	2,035
Free Cash Flow Growth	49.56%	46.87%	-12.70%	127.09%
Free Cash Flow Margin	22.90%	17.67%	14.79%	22.93%
Free Cash Flow Per Share	1.71	1.14	0.78	0.89
Cash Interest Paid	-	-	4.77	9.11
Cash Income Tax Paid	974.15	735.08	650.94	497.98
Levered Free Cash Flow	2,979	1,386	3,413	1,455
Unlevered Free Cash Flow	3,052	1,459	3,467	1,502
Change in Working Capital	468.39	-68.85	-236.64	706.43

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