HKG:1882 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	3,301	3,080	2,492	2,265	3,052
Depreciation & Amortization	528.21	478.96	391.39	360.88	325.75
Loss (Gain) From Sale of Assets	-	5.1	6.54	-1.71	-14.62
Loss (Gain) From Sale of Investments	-	-230.2	-173.25	-188.73	-228.12
Loss (Gain) on Equity Investments	-	-38.22	-14.47	-16.46	-33.31
Provision & Write-off of Bad Debts	-	-30.14	3.58	2.69	7.19
Other Operating Activities	-349.53	-148.47	-391.1	-449.46	-66.45
Change in Accounts Receivable	-	-655.01	-343.37	318.75	-370.63
Change in Inventory	-	-1,047	-335.73	-119.19	-60.23
Change in Accounts Payable	-	553.41	492.7	-648.74	116.94
Change in Unearned Revenue	-	-104.31	-195.17	264.34	-
Change in Other Net Operating Assets	-	237.3	79.94	-6.44	395.6
Operating Cash Flow	3,480	2,101	2,013	1,781	3,124
Operating Cash Flow Growth	65.59%	4.41%	13.03%	-43.00%	-4.70%
Capital Expenditures	-1,148	-1,173	-1,114	-1,467	-923.79
Sale of Property, Plant & Equipment	-	15.06	236.51	13.02	31.85
Cash Acquisitions	-	-	-104.15	-	-
Divestitures	-	-	-22.39	-	29.82
Sale (Purchase) of Intangibles	-	-9.38	-1.72	-28.73	-
Investment in Securities	-	-2,755	699.49	1,687	-1,337
Other Investing Activities	-1,393	801.06	-433.58	27.52	-300.41
Investing Cash Flow	-2,542	-3,080	-701.96	171.31	-2,266
Long-Term Debt Issued	-	840.26	2,531	1,616	1,473
Total Debt Issued	-	840.26	2,531	1,616	1,473
Long-Term Debt Repaid	-	-1,604	-1,219	-2,364	-607.55
Total Debt Repaid	-	-1,604	-1,219	-2,364	-607.55
Net Debt Issued (Repaid)	-	-763.92	1,312	-748.25	865.01
Common Dividends Paid	-1,075	-955.36	-768.28	-1,233	-870.74
Other Financing Activities	1,131	-2.71	-	27.85	-1.68
Financing Cash Flow	56.01	-1,722	544.17	-1,954	-1,012
Net Cash Flow	994.01	-2,700	1,855	-1.78	-153.81
Free Cash Flow	2,331	928.51	898.72	313.57	2,200
Free Cash Flow Growth	151.09%	3.31%	186.61%	-85.75%	-16.58%
Free Cash Flow Margin	13.15%	5.76%	6.88%	2.55%	13.74%
Free Cash Flow Per Share	1.46	0.58	0.56	0.20	1.38
Cash Interest Paid	-	63.31	75.9	55.65	45.49
Cash Income Tax Paid	-	655.74	609.45	782.7	575.05
Levered Free Cash Flow	1,983	388.6	576.68	179.48	1,397
Unlevered Free Cash Flow	2,035	429.52	622.97	215.65	1,426
Change in Working Capital	-	-1,016	-301.63	-191.27	81.67

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