HKG:1681 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	910.46	784.53	682.91	590.17
Depreciation & Amortization	63.99	78.09	76.36	72.99
Loss (Gain) From Sale of Assets	0.35	0.85	4.12	1.99
Loss (Gain) From Sale of Investments	0.09	-0.23	-	-
Loss (Gain) on Equity Investments	0.07	-	-	-
Stock-Based Compensation	-	-	-1.78	23.41
Provision & Write-off of Bad Debts	-8.78	-12.6	-32.49	-18.04
Other Operating Activities	-33.07	-14.33	39.93	-90.34
Change in Accounts Receivable	-27.9	-1.71	113.87	114.21
Change in Inventory	77.41	-89.69	-54.9	-39.56
Change in Accounts Payable	116.92	80.76	114.41	50.99
Change in Unearned Revenue	-4.55	-0.46	2.26	1.67
Change in Other Net Operating Assets	-8.01	-6.24	3	18.04
Operating Cash Flow	1,087	818.97	947.68	725.54
Operating Cash Flow Growth	32.73%	-13.58%	30.62%	-16.32%
Capital Expenditures	-109	-52.56	-51.59	-98.25
Sale of Property, Plant & Equipment	0.33	0.15	1.2	0.32
Investment in Securities	-143.06	-248.27	-365.67	-230
Other Investing Activities	64.82	68.92	47.26	29.62
Investing Cash Flow	-186.91	-231.77	-368.8	-298.31
Long-Term Debt Issued	497.55	442.39	259.32	295.72
Long-Term Debt Repaid	-758.2	-382.93	-436.67	-235.81
Net Debt Issued (Repaid)	-260.65	59.46	-177.35	59.91
Issuance of Common Stock	142.99	14.2	2.64	14.57
Repurchase of Common Stock	-	-	-29.07	-30.15
Common Dividends Paid	-680.54	-326.25	-127.49	-198.08
Other Financing Activities	68.94	-27.51	-10.93	-12.91
Financing Cash Flow	-729.26	-280.1	-342.21	-166.66
Foreign Exchange Rate Adjustments	-11.4	-9.01	17.18	-4.52
Net Cash Flow	159.42	298.09	253.85	256.05
Free Cash Flow	977.99	766.41	896.09	627.29
Free Cash Flow Growth	27.61%	-14.47%	42.85%	-23.35%
Free Cash Flow Margin	32.96%	29.59%	38.30%	30.68%
Free Cash Flow Per Share	1.18	0.96	1.13	0.78
Cash Interest Paid	0.41	1.09	0.56	12.91
Cash Income Tax Paid	37.18	20.03	13.21	134.68
Levered Free Cash Flow	681.72	507.99	650.74	464.15
Unlevered Free Cash Flow	697.28	521.28	657.57	472.21
Change in Working Capital	153.88	-17.34	178.64	145.35

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