HKG:2722 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	763.92	431.28	303.63	310.3	296.51
Depreciation & Amortization	327.08	324.59	310.66	274.13	269.37
Other Amortization	-	56.55	44.25	41.76	61.11
Loss (Gain) From Sale of Assets	-	-22.13	-90.62	-102.41	-122.73
Asset Writedown & Restructuring Costs	-	-0.76	47.72	143.29	53.44
Loss (Gain) From Sale of Investments	-	-512.21	-301.59	-231.29	-383.97
Provision & Write-off of Bad Debts	-	95.79	144.6	54.01	175.51
Other Operating Activities	-631.54	273.01	138	144.42	268.62
Change in Accounts Receivable	-	-546.7	-59.34	-676.23	222.66
Change in Inventory	-	302.86	-253.42	32.84	172.02
Change in Accounts Payable	-	429.28	-130.77	464.04	-240.44
Change in Unearned Revenue	-	-96.16	-1.38	-195.14	-356.81
Operating Cash Flow	459.46	718.3	145.76	239.07	383.75
Operating Cash Flow Growth	-36.04%	392.78%	-39.03%	-37.70%	123.73%
Capital Expenditures	-228.54	-202.61	-196.56	-71.75	-122.16
Sale of Property, Plant & Equipment	18.77	116.28	257.39	204.5	439.39
Investment in Securities	10.57	-340.79	-135.16	-99	9
Other Investing Activities	577.99	474.93	309.65	404.5	215.43
Investing Cash Flow	378.79	47.8	235.32	438.25	541.66
Long-Term Debt Issued	1,086	641.51	1,911	1,442	1,733
Long-Term Debt Repaid	-1,218	-1,187	-1,902	-1,488	-1,739
Net Debt Issued (Repaid)	-131.97	-545.85	8.56	-45.34	-5.52
Common Dividends Paid	-221.63	-156.94	-188.75	-165.04	-165.5
Other Financing Activities	-130.18	-143.33	-186.35	-137.63	-245.18
Financing Cash Flow	-483.77	-846.11	-366.54	-348.01	-416.2
Foreign Exchange Rate Adjustments	1.29	-0.29	6.55	2.35	-8.08
Net Cash Flow	355.76	-80.3	21.1	331.65	501.13
Free Cash Flow	230.91	515.68	-50.8	167.32	261.58
Free Cash Flow Growth	-55.22%	-	-	-36.04%	272.60%
Free Cash Flow Margin	2.30%	5.78%	-0.63%	2.32%	3.53%
Free Cash Flow Per Share	0.06	0.14	-0.01	0.04	0.07
Cash Interest Paid	13.78	6.12	9.01	9.32	11.08
Cash Income Tax Paid	338.04	324.54	299.59	282.92	336.95
Levered Free Cash Flow	-14.02	1,137	153.83	626.67	420.03
Unlevered Free Cash Flow	26.67	1,181	202.95	694.54	487.04
Change in Working Capital	-	64.8	-446.3	-394.58	-237.43

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