HKG:1385 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	572.6	719.49	1,077	514.47
Depreciation & Amortization	207.05	243.22	126.98	213.19
Other Amortization	123.55	16.64	66.44	9.84
Loss (Gain) From Sale of Assets	-2.12	-1.24	-1.33	-0.52
Asset Writedown & Restructuring Costs	0.18	12.99	162.8	66.19
Loss (Gain) From Sale of Investments	-0.72	-3.09	-0.19	1.77
Stock-Based Compensation	50.96	106.88	128.43	14.07
Provision & Write-off of Bad Debts	46.01	10.13	-1.11	-
Other Operating Activities	194.47	175.99	27.92	47.69
Change in Accounts Receivable	-417.85	-239.2	-735.8	-172.78
Change in Inventory	-125.68	-1,815	-681.59	-347.15
Change in Accounts Payable	92.28	65.8	147.65	253.87
Operating Cash Flow	732.47	-708.17	321.29	602.2
Operating Cash Flow Growth	-	-	-46.65%	151.18%
Capital Expenditures	-632.95	-850.93	-782.53	-564.5
Sale of Property, Plant & Equipment	13.71	2.37	2.53	0.66
Cash Acquisitions	-15	-	-	-
Investment in Securities	-124.07	110	633.26	-624
Other Investing Activities	4.31	6.97	14.22	5.04
Investing Cash Flow	-754	-731.6	-132.51	-1,183
Long-Term Debt Issued	1,735	1,679	78.57	167.25
Total Debt Issued	1,735	1,679	78.57	167.25
Long-Term Debt Repaid	-1,570	-272.13	-89.16	-131.02
Total Debt Repaid	-1,570	-272.13	-89.16	-131.02
Net Debt Issued (Repaid)	164.82	1,407	-10.59	36.23
Issuance of Common Stock	41.89	42.79	45.4	696.8
Common Dividends Paid	-122.95	-136.93	-55.13	-2.19
Other Financing Activities	4.87	-2.75	524.91	-12.04
Financing Cash Flow	88.63	1,310	504.59	718.81
Foreign Exchange Rate Adjustments	3.28	2.13	11.17	-1.83
Net Cash Flow	70.38	-127.36	704.53	136.39
Free Cash Flow	99.51	-1,559	-461.24	37.71
Free Cash Flow Growth	-	-	-	-68.43%
Free Cash Flow Margin	2.77%	-44.09%	-13.03%	1.46%
Free Cash Flow Per Share	0.12	-1.89	-0.56	0.05
Cash Income Tax Paid	-17.95	60.64	128.01	75.4
Levered Free Cash Flow	-460.62	-1,864	-833.03	-248.54
Unlevered Free Cash Flow	-433.92	-1,846	-830.3	-245.71
Change in Working Capital	-459.51	-1,989	-1,266	-264.49

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