HKG:1385 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	232.34	572.6	719.49	1,077	514.47
Depreciation & Amortization	248.3	313.81	243.22	126.98	213.19
Other Amortization	146.75	16.79	16.64	66.44	9.84
Loss (Gain) From Sale of Assets	-0.53	-2.12	-1.24	-1.33	-0.52
Asset Writedown & Restructuring Costs	18.02	0.18	12.99	162.8	66.19
Loss (Gain) From Sale of Investments	3.42	-0.72	-3.09	-0.19	1.77
Stock-Based Compensation	15.82	50.96	106.88	128.43	14.07
Provision & Write-off of Bad Debts	26.86	46.01	10.13	-1.11	-
Other Operating Activities	439.28	194.47	175.99	27.92	47.69
Change in Accounts Receivable	-670.01	-417.85	-239.2	-735.8	-172.78
Change in Inventory	77.89	-125.68	-1,815	-681.59	-347.15
Change in Accounts Payable	251.41	92.28	65.8	147.65	253.87
Operating Cash Flow	784.16	732.47	-708.17	321.29	602.2
Operating Cash Flow Growth	7.06%	-	-	-46.65%	151.18%
Capital Expenditures	-265.44	-632.95	-850.93	-782.53	-564.5
Sale of Property, Plant & Equipment	2.4	13.71	2.37	2.53	0.66
Cash Acquisitions	-0.17	-15	-	-	-
Investment in Securities	-20	-124.07	110	633.26	-624
Other Investing Activities	3.86	4.31	6.97	14.22	5.04
Investing Cash Flow	-279.35	-754	-731.6	-132.51	-1,183
Long-Term Debt Issued	1,435	1,735	1,679	78.57	167.25
Total Debt Issued	1,435	1,735	1,679	78.57	167.25
Long-Term Debt Repaid	-1,641	-1,570	-272.13	-89.16	-131.02
Total Debt Repaid	-1,641	-1,570	-272.13	-89.16	-131.02
Net Debt Issued (Repaid)	-205.79	164.82	1,407	-10.59	36.23
Issuance of Common Stock	40.28	41.89	42.79	45.4	696.8
Common Dividends Paid	-102.62	-122.95	-136.93	-55.13	-2.19
Other Financing Activities	-	4.87	-2.75	524.91	-12.04
Financing Cash Flow	-268.13	88.63	1,310	504.59	718.81
Foreign Exchange Rate Adjustments	-5.47	3.28	2.13	11.17	-1.83
Net Cash Flow	231.21	70.38	-127.36	704.53	136.39
Free Cash Flow	518.72	99.51	-1,559	-461.24	37.71
Free Cash Flow Growth	421.26%	-	-	-	-68.43%
Free Cash Flow Margin	13.03%	2.77%	-44.09%	-13.03%	1.46%
Free Cash Flow Per Share	0.63	0.12	-1.89	-0.56	0.05
Cash Income Tax Paid	240.67	-17.95	60.64	128.01	75.4
Levered Free Cash Flow	172.78	-461.39	-1,864	-833.03	-248.54
Unlevered Free Cash Flow	196.58	-434.69	-1,846	-830.3	-245.71
Change in Working Capital	-346.1	-459.51	-1,989	-1,266	-264.49

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