HKG:1426 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	-46.63	-77.54	28.35	509.95
Gain (Loss) on Sale of Assets	-	-	-	-0.15
Asset Writedown	158.47	132.02	-268.42	-128.73
Stock-Based Compensation	37.72	38.61	34.5	31.01
Change in Accounts Receivable	-1.75	2.9	10.73	-26.13
Change in Accounts Payable	-27.4	-3.32	-27	9.69
Change in Other Net Operating Assets	-16.06	6.98	0.88	2.66
Other Operating Activities	298.11	384.17	610.86	-50.86
Operating Cash Flow	402.45	483.82	389.9	347.45
Operating Cash Flow Growth	-16.82%	24.09%	12.22%	0.53%
Acquisition of Real Estate Assets	-9.68	-27.61	-18.32	-2.91
Sale of Real Estate Assets	-	-	-	1.79
Net Sale / Acq. of Real Estate Assets	-9.68	-27.61	-18.32	-1.12
Cash Acquisition	-	-	-739.73	-
Investing Cash Flow	-9.68	-27.61	-758.05	-1.12
Long-Term Debt Issued	145.14	203.72	3,710	-
Long-Term Debt Repaid	-68.92	-92.11	-2,901	-3.15
Net Debt Issued (Repaid)	76.22	111.61	809.48	-3.15
Repurchase of Common Stock	-4.83	-140.06	-4.74	-4.36
Common Dividends Paid	-273.02	-268.96	-289.7	-259.48
Other Financing Activities	-146.93	-146.44	-139.03	-71.84
Foreign Exchange Rate Adjustments	3.8	8.09	38.53	-5.88
Net Cash Flow	48.02	20.46	46.39	1.61
Cash Interest Paid	195.56	181.19	110.18	62.18
Cash Income Tax Paid	25.92	21.32	7.49	3.28
Levered Free Cash Flow	-104.96	196.75	138.7	192.4
Unlevered Free Cash Flow	95.9	377.83	242.89	214.7
Change in Working Capital	-45.21	6.56	-15.39	-13.78

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