HKG:1728 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	-1,601	-849.28	-296.29	-3,622
Depreciation & Amortization	875.85	836.97	807.29	895.72
Other Amortization	0.85	6.79	6.68	6.29
Loss (Gain) From Sale of Assets	4.47	-91.36	-552.21	971.37
Asset Writedown & Restructuring Costs	116.7	-	-253.67	628.39
Loss (Gain) From Sale of Investments	-4.18	115.92	-	-
Loss (Gain) on Equity Investments	-3.67	0.5	-43.06	-45.34
Stock-Based Compensation	-1.54	1.08	1.87	15.93
Other Operating Activities	899.77	912.23	1,235	612.15
Change in Accounts Receivable	-203.14	-34.51	97.62	49.27
Change in Inventory	114.45	267.44	-1,374	-838.11
Change in Accounts Payable	-80.85	128.39	-41.33	1,596
Change in Other Net Operating Assets	-86.25	-1,257	570.74	-1,002
Operating Cash Flow	31.09	36.79	158.79	155.63
Operating Cash Flow Growth	-15.50%	-76.83%	2.03%	-55.05%
Capital Expenditures	-370.1	-1,124	-868.9	-638.43
Sale of Property, Plant & Equipment	244.45	301.74	301.31	509.12
Cash Acquisitions	-82.34	-55.91	-71	-71
Divestitures	-	-1.56	1,411	-255.89
Sale (Purchase) of Intangibles	-8.71	-0.33	-1.91	-3.54
Investment in Securities	329.88	-10.08	451.06	70.92
Other Investing Activities	89.54	96.81	77.85	42.99
Investing Cash Flow	202.72	-793.48	1,299	-345.83
Long-Term Debt Issued	36,151	36,082	28,532	21,831
Long-Term Debt Repaid	-35,370	-34,408	-27,225	-19,874
Net Debt Issued (Repaid)	780.64	1,673	1,307	1,957
Issuance of Common Stock	654.29	951.07	-	-
Repurchase of Common Stock	-100	-	-	-
Common Dividends Paid	-	-41.71	-	-
Other Financing Activities	-1,741	-1,815	-2,243	-2,048
Financing Cash Flow	-406.15	767.08	-936.38	-90.45
Foreign Exchange Rate Adjustments	0.58	0.39	3.93	-1.12
Net Cash Flow	-171.77	10.77	525.32	-281.77
Free Cash Flow	-339.02	-1,087	-710.11	-482.8
Free Cash Flow Margin	-1.63%	-4.51%	-3.14%	-2.30%
Free Cash Flow Per Share	-0.11	-0.39	-0.26	-0.18
Cash Interest Paid	912.87	1,178	1,082	1,420
Cash Income Tax Paid	106.2	51.8	93.57	152.52
Levered Free Cash Flow	-1,891	-1,732	-1,768	-647.55
Unlevered Free Cash Flow	-1,327	-1,091	-1,153	166.13
Change in Working Capital	-255.79	-896.06	-747.19	-194.59

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