HKG:1853 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	81.71	99.9	120.96	114.67	122.76
Depreciation & Amortization	148.52	137.34	134.22	137.96	138.93
Other Amortization	1.3	0.05	0.46	0.85	4.72
Loss (Gain) on Sale of Assets	-	-0.09	-	-0.01	-5.95
Loss (Gain) on Sale of Investments	-16.29	-	-	-	-0.52
Asset Writedown	3.82	10.18	0.51	17.1	22.56
Change in Accounts Receivable	-49.3	-250.67	40.1	53.64	20.89
Change in Inventory	1.87	-3.98	0.77	22.9	-16.96
Change in Accounts Payable	138.91	47.7	94.48	-74.46	-181.3
Other Operating Activities	19.24	22.72	23.72	9.94	10.45
Operating Cash Flow	329.01	36.02	399.34	246.15	124
Operating Cash Flow Growth	813.41%	-90.98%	62.23%	98.51%	-70.18%
Capital Expenditures	-238.38	-124.45	-29.16	-50.43	-78.14
Sale of Property, Plant & Equipment	-	0.04	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-	7.15
Investment in Securities	-300	-138	-	-	-68.38
Other Investing Activities	5.05	-	-	-	0.23
Investing Cash Flow	-533.32	-262.41	-29.16	-50.43	-139.14
Short-Term Debt Issued	-	-	70.28	648.99	-
Long-Term Debt Issued	456.09	615.55	-	-	336.87
Total Debt Issued	456.09	615.55	70.28	648.99	336.87
Short-Term Debt Repaid	-	-	-304.28	-414.99	-
Long-Term Debt Repaid	-616.41	-1.54	-1.54	-0.77	-389.81
Total Debt Repaid	-616.41	-1.54	-305.82	-415.76	-389.81
Net Debt Issued (Repaid)	-160.33	614.01	-235.54	233.23	-52.94
Common Dividends Paid	-47.49	-49.23	-53.83	-63.08	-
Other Financing Activities	-	-0.28	-	-	-
Financing Cash Flow	-207.82	564.5	-289.37	170.16	-52.94
Foreign Exchange Rate Adjustments	-0.02	0.02	-	0.05	-0.02
Net Cash Flow	-412.14	338.13	80.81	365.93	-68.1
Free Cash Flow	90.63	-88.43	370.18	195.72	45.86
Free Cash Flow Growth	-	-	89.14%	326.80%	-86.86%
Free Cash Flow Margin	5.32%	-4.90%	21.85%	11.83%	2.78%
Free Cash Flow Per Share	0.19	-0.19	0.79	0.43	0.10
Cash Income Tax Paid	51.56	76.05	101.84	78.16	130.07
Levered Free Cash Flow	81.26	-234.18	369.16	189.74	-71.39
Unlevered Free Cash Flow	92.47	-228.39	376.74	195.95	-64.86
Change in Working Capital	83.35	-223.46	127.64	-1.41	-199.01

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