HKG:2281 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	184.81	177.24	209.9	203.22	241.93	247.22
Depreciation & Amortization	344.69	336.79	330.94	307.79	286.71	203.75
Other Amortization	32.51	31.39	28.05	27.6	21.25	6.17
Loss (Gain) on Sale of Assets	-1.9	-1.85	4.71	0.3	-1.29	-0.25
Loss (Gain) on Sale of Investments	-5.16	-5.16	3.04	-0.59	-0.67	-0.72
Asset Writedown	-	-	-	-	12.22	4.81
Change in Accounts Receivable	-145.81	-109.22	-70.51	-87.29	-265.98	-190.17
Change in Inventory	-1.24	4.36	15.38	-35.75	35.61	-11.36
Change in Accounts Payable	-25.74	-34.58	-26.46	11.01	56.52	-11.51
Other Operating Activities	92.02	101.64	91.5	151.36	136.74	118.2
Operating Cash Flow	506.24	536.25	609.19	597.24	537.2	369.44
Operating Cash Flow Growth	-25.02%	-11.97%	2.00%	11.18%	45.41%	52.93%
Capital Expenditures	-242.03	-352.54	-522.65	-678.39	-754.36	-997.08
Sale of Property, Plant & Equipment	-0	0.01	3.99	0.06	2.48	0.5
Divestitures	5.61	5.61	-	-	-	-
Investment in Securities	12.9	2.9	41.62	-	1.11	-
Investing Cash Flow	-223.52	-344.01	-477.04	-678.33	-750.76	-996.57
Short-Term Debt Issued	-	3.15	2.65	-	-	-
Long-Term Debt Issued	-	620.64	735.83	1,101	754.23	1,256
Total Debt Issued	400.79	623.79	738.48	1,101	754.23	1,256
Long-Term Debt Repaid	-	-619.09	-909.56	-1,095	-521.32	-538.15
Net Debt Issued (Repaid)	-14.57	4.7	-171.08	6.42	232.91	717.37
Common Dividends Paid	-131.6	-140.26	-160.65	-187.32	-198.97	-160.66
Other Financing Activities	-0.74	-	-19.67	-0	15.18	10.71
Financing Cash Flow	-146.91	-135.56	-351.4	-180.9	49.12	567.41
Net Cash Flow	135.81	56.68	-219.25	-261.99	-164.45	-59.72
Free Cash Flow	264.21	183.72	86.54	-81.15	-217.16	-627.63
Free Cash Flow Growth	113.67%	112.28%	-	-	-	-
Free Cash Flow Margin	19.89%	13.81%	6.73%	-6.00%	-15.85%	-52.06%
Free Cash Flow Per Share	0.32	0.22	0.10	-0.10	-0.25	-0.74
Cash Interest Paid	-	-	-	-	0.21	4.09
Cash Income Tax Paid	127.74	126.18	101.34	107.38	117.87	118.31
Levered Free Cash Flow	278.22	97.78	-58.25	-364.3	-586.71	-741.54
Unlevered Free Cash Flow	331.6	153.37	-9.82	-282.21	-507.04	-671.78
Change in Working Capital	-177.69	-145.37	-83.62	-120.58	-176.35	-214.03

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.