HKG:1935 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	312.82	388.2	366.73	326.04
Depreciation & Amortization	74.7	70.24	65.29	57.58
Other Amortization	2.41	1.6	7.52	7.37
Loss (Gain) From Sale of Assets	1.98	1.41	0.11	2.31
Asset Writedown & Restructuring Costs	35.02	2.45	8.53	-
Loss (Gain) From Sale of Investments	-	-	-	-0.19
Provision & Write-off of Bad Debts	0.55	0.33	0.18	0.13
Other Operating Activities	194.18	95.15	94.29	71.59
Change in Accounts Receivable	-0.83	-0.16	-1.32	0.45
Change in Accounts Payable	14.49	62.48	-11.66	32.42
Change in Unearned Revenue	26.22	103.1	72.05	71.16
Change in Other Net Operating Assets	-2.55	8.95	-8.36	3.49
Operating Cash Flow	659	733.74	643.54	522.34
Operating Cash Flow Growth	-10.19%	14.02%	23.20%	18.32%
Capital Expenditures	-118.79	-74.06	-182.19	-285.67
Sale of Property, Plant & Equipment	0.15	-	-	0.15
Cash Acquisitions	-34.44	-	-	-
Sale (Purchase) of Intangibles	-12.83	-2.48	-0.49	-4.37
Sale (Purchase) of Real Estate	-57.92	-	-193.95	-
Investment in Securities	-367.86	-111.14	-	-
Other Investing Activities	-466.04	1.27	-3.23	0.92
Investing Cash Flow	-1,058	-218.41	-379.86	-288.98
Short-Term Debt Issued	-	-	70	-
Total Debt Issued	-	-	70	-
Short-Term Debt Repaid	-	-	-70	-
Long-Term Debt Repaid	-0.4	-0.4	-0.33	-0.57
Total Debt Repaid	-0.4	-0.4	-70.33	-0.57
Net Debt Issued (Repaid)	-0.4	-0.4	-0.33	-0.57
Common Dividends Paid	-	-21.6	-	-66.49
Other Financing Activities	-0.02	-0.02	-0.61	-0.02
Financing Cash Flow	-0.42	-22.02	-0.95	-150.19
Foreign Exchange Rate Adjustments	-0.53	1.69	10.85	-5.49
Net Cash Flow	-399.68	495	273.58	77.69
Free Cash Flow	540.21	659.68	461.35	236.67
Free Cash Flow Growth	-18.11%	42.99%	94.93%	-27.88%
Free Cash Flow Margin	55.08%	75.53%	56.31%	34.57%
Free Cash Flow Per Share	0.34	0.41	0.29	0.15
Cash Interest Paid	0.02	0.02	0.61	0.02
Cash Income Tax Paid	1	3.02	1.8	-
Levered Free Cash Flow	245.24	389.94	179.12	117.33
Unlevered Free Cash Flow	245.26	389.95	179.5	117.34
Change in Working Capital	37.34	174.37	100.89	57.51

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