HKG:2328 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	38,137	32,173	24,585	29,163	22,360	20,868
Depreciation & Amortization	3,778	3,801	3,750	3,717	3,496	3,539
Other Amortization	-	-	-	-	268	-
Gain (Loss) on Sale of Assets	-84	-84	-110	-118	-111	-71
Gain (Loss) on Sale of Investments	-8,750	-8,750	4,300	3,545	-3,703	-1,480
Change in Accounts Receivable	-	-	-	-	-5,390	3,377
Reinsurance Recoverable	-1,176	-1,176	-2,043	-5,227	-	-
Change in Insurance Reserves / Liabilities	29,080	29,080	18,301	33,572	21,697	4,648
Change in Other Net Operating Assets	5,200	5,200	1,031	3,922	-1,794	434
Other Operating Activities	-17,188	-16,892	-23,968	-21,307	-16,828	-16,992
Operating Cash Flow	42,109	36,464	20,542	42,710	16,336	12,811
Operating Cash Flow Growth	74.83%	77.51%	-51.90%	161.45%	27.52%	-50.36%
Capital Expenditures	-3,063	-3,182	-2,734	-5,563	-2,417	-9,780
Sale of Property, Plant & Equipment	230	288	218	203	340	157
Investment in Securities	-40,818	-43,307	-30,486	-34,910	-38,898	-37,735
Other Investing Activities	20,949	18,655	21,872	20,657	23,999	19,131
Investing Cash Flow	-22,702	-27,546	-11,130	-32,188	-8,158	-29,390
Short-Term Debt Issued	-	-	-	3,705	8,957	12,269
Long-Term Debt Issued	-	11,988	-	-	-	8,000
Total Debt Issued	10,618	11,988	-	3,705	8,957	20,269
Total Debt Repaid	-17,694	-1,247	-2,532	-927	-15,924	-1,000
Net Debt Issued (Repaid)	-7,076	10,741	-2,532	2,778	-6,967	19,269
Common Dividends Paid	-15,503	-15,503	-10,632	-9,053	-8,342	-10,254
Other Financing Activities	-1,391	-1,288	-1,059	-722	-1,536	1,394
Financing Cash Flow	-23,970	-6,050	-14,223	-6,997	-16,845	10,409
Foreign Exchange Rate Adjustments	-4	7	49	311	-111	-158
Net Cash Flow	-4,567	2,875	-4,762	3,836	-8,778	-6,328
Free Cash Flow	39,046	33,282	17,808	37,147	13,919	3,031
Free Cash Flow Growth	83.31%	86.89%	-52.06%	166.88%	359.22%	-86.22%
Free Cash Flow Margin	7.34%	6.47%	3.76%	8.42%	3.33%	0.74%
Free Cash Flow Per Share	1.76	1.50	0.80	1.67	0.63	0.14
Cash Interest Paid	1,163	1,113	1,059	893	1,775	1,123
Cash Income Tax Paid	4,561	4,561	8,578	6,730	4,771	5,683
Levered Free Cash Flow	20,394	41,606	-118,802	-147,963	24,323	17,293
Unlevered Free Cash Flow	27,233	48,525	-111,832	-141,633	25,189	18,216
Change in Working Capital	33,104	33,104	17,289	32,267	15,191	10,828

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