HKG:1503 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-97.75	-184.77	-172.32	-209.54	267.7	285.05
Depreciation & Amortization	0.11	0.1	0.12	0.08	0.11	0.08
Other Amortization	-	-	-	4.6	4.8	4.8
Asset Writedown	292.54	393.22	394.45	-32.91	-81.51	-26.03
Change in Accounts Receivable	-3.03	-4.06	3.81	2.55	-1.29	-8.32
Change in Accounts Payable	-30.09	-5.8	-8	-65.5	11.6	-0.64
Change in Other Net Operating Assets	21.19	1.59	14.36	23.09	-5.27	10.14
Other Operating Activities	57.17	67.56	44.98	473.21	38.97	-70.57
Operating Cash Flow	240.11	268.1	274.91	200.37	235.09	194.71
Operating Cash Flow Growth	-20.53%	-2.48%	37.20%	-14.77%	20.74%	309.54%
Acquisition of Real Estate Assets	-38.51	-57.1	-102.56	-74.4	-20.49	-9.29
Sale of Real Estate Assets	0.01	0.06	-	-	-	-
Net Sale / Acq. of Real Estate Assets	-38.5	-57.04	-102.56	-74.4	-20.49	-9.29
Cash Acquisition	-	-	-	-1,083	-	-
Investment in Marketable & Equity Securities	-51	-51	5.22	77.3	129.51	-129.51
Other Investing Activities	50.79	11.24	29.79	11.9	10.26	6.48
Investing Cash Flow	-38.71	-96.81	-67.55	-1,068	119.28	-132.32
Long-Term Debt Issued	-	48.45	2,563	5,553	256.88	254.98
Total Debt Issued	4,093	48.45	2,563	5,553	256.88	254.98
Short-Term Debt Repaid	-	-0.49	-0.01	-0.01	-	-1,270
Long-Term Debt Repaid	-	-16.06	-2,562	-4,041	-	-0.71
Total Debt Repaid	-4,098	-16.55	-2,562	-4,041	-	-1,271
Net Debt Issued (Repaid)	-5.23	31.9	1.07	1,512	256.88	-1,016
Issuance of Common Stock	-	-	66.95	116.37	61.34	-
Common Dividends Paid	-116.22	-108.14	-181.95	-275.19	-239.5	-97.72
Other Financing Activities	-172.56	-187.5	-155.14	-78.75	-54.32	-54.97
Foreign Exchange Rate Adjustments	0.04	0.04	-	-	-	-
Net Cash Flow	-92.58	-92.4	-61.7	406.62	378.77	-1,106
Cash Interest Paid	124.89	131.09	144.53	80.92	54.32	54.97
Cash Income Tax Paid	78.22	71.05	63.26	49.98	48.78	44.9
Levered Free Cash Flow	66.84	137.8	137.79	265.32	290.28	-1,242
Unlevered Free Cash Flow	145	220.21	223.52	320.01	322.51	-1,209
Change in Working Capital	-11.93	-8.27	10.17	-39.86	5.04	1.17

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.