HKG:1786 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	143.89	128.21	145.04	115.64	50.38
Depreciation & Amortization	133.31	130.03	147.61	123.66	117.26
Other Amortization	1.53	1.57	-	-	-
Loss (Gain) From Sale of Assets	-0.08	0.26	-500.85	-0.25	-0.41
Asset Writedown & Restructuring Costs	0.93	0.02	75.35	9.04	23.4
Loss (Gain) From Sale of Investments	-13.09	-7.64	-4.94	-3.84	-4.12
Provision & Write-off of Bad Debts	12.36	-21.6	-40.67	-61.16	34.49
Other Operating Activities	-6.65	3.06	98.33	27.37	-4.03
Change in Accounts Receivable	-298.18	265.78	27.8	-9.78	-357.8
Change in Inventory	-26.29	-97.94	-689.45	29.28	-771.51
Change in Accounts Payable	92.08	-124.07	835	-212.44	513.37
Operating Cash Flow	41.51	283.18	86.57	22.44	-407.91
Operating Cash Flow Growth	-85.34%	227.12%	285.84%	-	-
Capital Expenditures	-13.29	-26.83	-28.22	-54.14	-136.04
Sale of Property, Plant & Equipment	0.24	46.79	267.64	0.66	12.64
Investment in Securities	14.11	7.64	5.39	4.41	-
Other Investing Activities	373.35	-596.6	-	-	4.41
Investing Cash Flow	374.41	-568.99	244.81	-49.07	-118.99
Common Dividends Paid	-42.65	-45.73	-37.85	-15.24	-
Other Financing Activities	-	19.3	-	15	-
Financing Cash Flow	-42.65	-26.43	-37.85	-0.24	-
Foreign Exchange Rate Adjustments	-1.52	1.7	0.92	11.5	-2.9
Net Cash Flow	371.75	-310.54	294.45	-15.38	-529.8
Free Cash Flow	28.22	256.35	58.34	-31.71	-543.95
Free Cash Flow Growth	-88.99%	339.38%	-	-	-
Free Cash Flow Margin	0.82%	8.22%	1.88%	-1.12%	-24.88%
Free Cash Flow Per Share	0.02	0.17	0.04	-0.02	-0.36
Cash Income Tax Paid	-	110.55	99.35	-18.59	58.19
Levered Free Cash Flow	23.45	247.87	-74.22	371.3	-533
Unlevered Free Cash Flow	23.7	248.2	-73.8	371.3	-533
Change in Working Capital	-230.7	49.28	166.71	-188.02	-624.86

Source: S&P Global Market Intelligence. Standard template. Financial Sources.