HKG:2628 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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	144,781	154,078	106,935	51,184	66,680	50,766
Depreciation & Amortization	4,892	4,892	5,029	5,016	-	4,939
Other Amortization	-	-	-	-	-	389
Gain (Loss) on Sale of Assets	-52	-52	-84	-66	-	1,323
Gain (Loss) on Sale of Investments	-62,507	-62,507	-117,750	50,555	-	26,638
Change in Accounts Receivable	-599	-599	24	-7,863	-	3,627
Change in Deferred Taxes	22,943	22,943	4,707	-1,960	-	-6,741
Change in Insurance Reserves / Liabilities	644,623	644,623	580,024	460,002	-	-
Change in Other Net Operating Assets	13,692	13,692	-15,978	11,202	-	22,090
Other Operating Activities	-326,144	-318,342	-184,121	-168,491	278,604	227,854
Operating Cash Flow	442,826	459,925	378,795	384,366	345,284	286,446
Operating Cash Flow Growth	14.26%	21.42%	-1.45%	11.32%	20.54%	-5.78%
Capital Expenditures	-1,678	-3,056	-3,979	-4,171	-3,076	-5,583
Sale of Property, Plant & Equipment	288	290	261	1,051	363	341
Cash Acquisitions	-12,619	-14,158	-13,724	-34,043	-34,743	-35,923
Investment in Securities	-706,328	-783,992	-535,951	-566,072	-301,220	-492,242
Other Investing Activities	205,119	196,128	190,109	178,999	176,010	174,488
Investing Cash Flow	-450,412	-547,368	-354,620	-424,236	-158,271	-393,839
Short-Term Debt Issued	-	-	-	67,129	-	117,211
Long-Term Debt Issued	-	56	35,065	43	688	116
Total Debt Issued	-30,855	56	35,065	67,172	688	117,327
Total Debt Repaid	-99,178	-13,856	-102,087	-1,726	-98,986	-1,528
Net Debt Issued (Repaid)	-130,033	-13,800	-67,022	65,446	-98,298	115,799
Common Dividends Paid	-26,363	-26,602	-26,915	-22,189	-26,386	-26,680
Other Financing Activities	199,879	184,743	7,178	17,016	4,589	22,100
Financing Cash Flow	43,483	144,341	-86,759	60,273	-120,095	111,219
Foreign Exchange Rate Adjustments	-126	-30	28	64	217	-71
Net Cash Flow	35,771	56,868	-62,556	20,467	67,135	3,755
Free Cash Flow	441,148	456,869	374,816	380,195	342,208	280,863
Free Cash Flow Growth	15.11%	21.89%	-1.42%	11.10%	21.84%	-5.29%
Free Cash Flow Margin	128.96%	129.84%	119.20%	173.31%	144.63%	35.34%
Free Cash Flow Per Share	15.60	16.16	13.26	13.45	12.11	9.94
Cash Interest Paid	-	-	-	-	-	12,714
Cash Income Tax Paid	14,559	12,866	6,521	5,779	6,225	12,078
Levered Free Cash Flow	73,388	518,147	-756,982	4,857,433	-73,671	-13,297
Unlevered Free Cash Flow	75,983	520,745	-754,357	4,857,433	-73,671	-13,297
Change in Working Capital	680,659	680,659	568,777	447,604	-	-25,551

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.