China Mengniu Dairy Company Limited (HKG:2319)
Hong Kong · Delayed Price · Currency is HKD 21.34
-0.14 (-0.65%)
Nov 4, 2026, 4:08 PM HKT
HKG:2319 Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 | 1,871 | 1,545 | 104.51 | 4,809 | 5,303 | 5,026 |
Depreciation & Amortization | 3,051 | 3,206 | 3,303 | 3,206 | 2,786 | 2,326 |
Other Amortization | 118.46 | 118.46 | 103.59 | 95.15 | 91.87 | 70.64 |
Loss (Gain) From Sale of Assets | 3.06 | 3.06 | -215.11 | -0.1 | -319.39 | 59.46 |
Asset Writedown & Restructuring Costs | 431.37 | 431.37 | 4,666 | - | 742.44 | 825.54 |
Loss (Gain) From Sale of Investments | 1,292 | 1,292 | 235.32 | 258 | 30.77 | -72.31 |
Loss (Gain) on Equity Investments | 804.01 | 804.01 | 871.73 | -91.92 | -408.95 | -693.33 |
Stock-Based Compensation | 19.2 | 19.2 | 351.41 | 627.12 | 756.93 | 234.19 |
Provision & Write-off of Bad Debts | 754.5 | 754.5 | 128.75 | 121.56 | 279.11 | 198.09 |
Other Operating Activities | -173.39 | 309.7 | -328.51 | -1,104 | -1,861 | -1,888 |
Change in Accounts Receivable | 78.17 | 78.17 | 277.96 | -130.34 | 241.19 | -1,106 |
Change in Inventory | 51.98 | 51.98 | 860.19 | 1,669 | -1,158 | -615.59 |
Change in Accounts Payable | -727.22 | -727.22 | -852.22 | -707.25 | 1,397 | 584.71 |
Change in Other Net Operating Assets | 864.06 | 864.06 | -1,174 | -402.25 | 452.02 | 2,596 |
Operating Cash Flow | 8,438 | 8,751 | 8,332 | 8,349 | 8,333 | 7,545 |
Operating Cash Flow Growth | -8.47% | 5.02% | -0.21% | 0.19% | 10.45% | 41.08% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -1,790 | -2,307 | -3,247 | -3,863 | -4,836 | -6,105 |
Sale of Property, Plant & Equipment | 102.33 | 102.33 | 51.59 | 69.6 | 112.87 | 112.87 |
Cash Acquisitions | - | - | - | 0.92 | 405.95 | -830.14 |
Divestitures | 1,106 | 578.87 | 0.02 | 832.14 | 162.78 | 65 |
Sale (Purchase) of Intangibles | -143.59 | -143.59 | -226.61 | -194.09 | -138.14 | -44.31 |
Investment in Securities | -5,846 | 1,608 | -1,947 | 5,164 | -11,839 | -7,777 |
Other Investing Activities | -580.1 | 1,409 | 1,405 | 1,170 | 923.94 | 1,477 |
Investing Cash Flow | -4,255 | 3,335 | -3,500 | -285.83 | -14,862 | -15,440 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Short-Term Debt Issued | - | 17,699 | 31,898 | 41,299 | 20,629 | - |
Long-Term Debt Issued | - | 26,391 | 37,184 | 49,091 | 36,201 | 46,303 |
Total Debt Issued | 59,513 | 44,090 | 69,082 | 90,390 | 56,829 | 46,303 |
Short-Term Debt Repaid | - | -17,399 | -31,898 | -41,299 | -20,629 | - |
Long-Term Debt Repaid | - | -35,510 | -40,678 | -51,724 | -28,693 | -38,572 |
Lease Payments | -211.76 | -211.76 | -306.32 | -268.71 | -216.18 | -281.85 |
Total Debt Repaid | -57,061 | -52,909 | -72,577 | -93,023 | -49,321 | -38,572 |
Net Debt Issued (Repaid) | 2,452 | -8,819 | -3,494 | -2,633 | 7,508 | 7,731 |
Issuance of Common Stock | - | - | - | 749.17 | 27.03 | 98.83 |
Repurchase of Common Stock | -479.29 | -558.43 | -284.16 | -817.99 | -253.95 | - |
Common Dividends Paid | -2,016 | -1,991 | -1,924 | -1,588 | -1,507 | -1,071 |
Other Financing Activities | -703.3 | -344.79 | -622.63 | -2,513 | -1,628 | 13.87 |
Financing Cash Flow | -746.31 | -11,714 | -6,325 | -6,802 | 4,147 | 6,773 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -530.15 | -535.13 | 490.78 | 247.32 | 43.09 | -10.86 |
Miscellaneous Cash Flow Adjustments | - | - | - | - | -59.21 | - |
Net Cash Flow | 2,907 | -163.36 | -1,003 | 1,508 | -2,398 | -1,134 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | 6,648 | 6,443 | 5,086 | 4,487 | 3,497 | 1,440 |
Free Cash Flow Growth | 1.58% | 26.70% | 13.35% | 28.30% | 142.87% | 19.52% |
Free Cash Flow Margin | 7.78% | 7.83% | 5.73% | 4.55% | 3.78% | 1.63% |
Free Cash Flow Per Share | 1.71 | 1.65 | 1.29 | 1.13 | 0.88 | 0.36 |
Levered Free Cash Flow | 6,920 | 4,570 | 2,559 | 3,491 | -3,077 | -814.59 |
Unlevered Free Cash Flow | 7,438 | 5,176 | 3,476 | 4,472 | -2,373 | -350.17 |
Free Cash Flow After Leases | 6,436 | 6,232 | 4,779 | 4,218 | 3,281 | 1,158 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Cash Interest Paid | 726.77 | 887.88 | 1,411 | 1,462 | 1,127 | 826.33 |
Cash Income Tax Paid | 1,813 | 1,251 | 1,340 | 1,370 | 930.4 | 902.79 |
Change in Working Capital | 266.99 | 266.99 | -888.51 | 429.21 | 932.11 | 1,459 |