HKG:2348 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	564.94	326	358.06	358.18
Depreciation & Amortization	104.48	81.85	64.39	56.36
Other Amortization	2.14	2.05	2.02	1.18
Loss (Gain) From Sale of Assets	4.21	0.26	-38.84	-69.11
Loss (Gain) From Sale of Investments	-292.89	-5.68	-7.2	-5.56
Loss (Gain) on Equity Investments	3.7	40.93	61.91	46.42
Stock-Based Compensation	-0.51	-1.02	-4.91	4.33
Provision & Write-off of Bad Debts	-1.99	0.69	2.44	-
Other Operating Activities	5.72	-128.93	1.77	-3.9
Change in Accounts Receivable	40.73	73.38	-79.82	-27.07
Change in Inventory	-141.01	19.7	-42.37	39.45
Change in Accounts Payable	56.22	-61.91	80.86	-12.11
Change in Unearned Revenue	3.36	-0.3	-0.3	-0.3
Change in Other Net Operating Assets	-128.89	-8.62	36.26	5.28
Operating Cash Flow	220.2	338.4	434.27	393.14
Operating Cash Flow Growth	-34.93%	-22.07%	10.46%	29.79%
Capital Expenditures	-126.04	-199.55	-204.37	-313.07
Sale of Property, Plant & Equipment	0.77	0.63	0.39	1.6
Cash Acquisitions	-	-	-8.64	-
Divestitures	-	-	20.8	73.77
Sale (Purchase) of Intangibles	-49.58	-12.46	-21.3	-89.96
Investment in Securities	223.76	-133.31	-25.5	64.7
Other Investing Activities	156.27	-42.88	63.6	-21.24
Investing Cash Flow	205.17	-387.57	-175.01	-284.2
Short-Term Debt Issued	224.86	120.06	6.43	21.01
Total Debt Issued	224.86	120.06	6.43	21.01
Short-Term Debt Repaid	-300	-	-	-
Long-Term Debt Repaid	-1.31	-1.56	-0.44	-1.04
Total Debt Repaid	-301.31	-1.56	-0.44	-1.04
Net Debt Issued (Repaid)	-76.45	118.51	6	19.97
Issuance of Common Stock	1.37	1.17	0.35	2.19
Repurchase of Common Stock	-	-	-	-15.53
Common Dividends Paid	-111.2	-117.08	-99.54	-143.91
Other Financing Activities	-3.16	-0.53	0.5	7.53
Financing Cash Flow	-189.44	2.07	-92.7	-129.75
Foreign Exchange Rate Adjustments	12.92	2.25	7.39	0.08
Net Cash Flow	248.85	-44.86	173.94	-20.74
Free Cash Flow	94.16	138.85	229.9	80.07
Free Cash Flow Growth	-32.19%	-39.61%	187.12%	-51.12%
Free Cash Flow Margin	8.88%	12.06%	17.99%	6.87%
Free Cash Flow Per Share	0.06	0.09	0.15	0.05
Cash Interest Paid	3.16	0.53	-	0.54
Cash Income Tax Paid	76.74	62.52	63.19	65.16
Levered Free Cash Flow	-18.43	-217.18	365.17	-1.67
Unlevered Free Cash Flow	-16.17	-216.56	365.4	-1.27
Change in Working Capital	-169.6	22.26	-5.36	5.25

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