HKG:3311 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	12,159	10,987	7,300	5,919
Depreciation & Amortization	899.96	774.92	608.3	551.59
Loss (Gain) From Sale of Assets	-85.44	-4.76	-38.41	-12.08
Asset Writedown & Restructuring Costs	149.73	-277.56	-196.21	-397.33
Loss (Gain) From Sale of Investments	-	-16.59	-240.38	-21.44
Loss (Gain) on Equity Investments	-850.67	-857.34	-538.81	-938.55
Stock-Based Compensation	6.95	5.96	30.19	36.29
Provision & Write-off of Bad Debts	18.12	84.46	33.35	-4.99
Other Operating Activities	320.01	968.27	2,280	2,104
Change in Accounts Receivable	-23,930	-16,193	-18,346	-14,155
Change in Inventory	854.94	998.84	-4.2	389.9
Change in Accounts Payable	15,839	6,246	11,670	6,821
Change in Other Net Operating Assets	-3,495	-2,261	-2,370	-741.34
Operating Cash Flow	1,886	454.76	187.63	-449.29
Operating Cash Flow Growth	314.81%	142.37%	-	-
Capital Expenditures	-1,027	-643.73	-320.98	-559.2
Sale of Property, Plant & Equipment	68.26	47.74	26.05	39.48
Divestitures	184.74	-	571.71	-
Sale (Purchase) of Real Estate	3.74	-	-	-
Investment in Securities	964.34	749.73	-721.15	-4,334
Other Investing Activities	874.39	911.54	887.39	831.48
Investing Cash Flow	1,068	1,065	443.03	-4,023
Short-Term Debt Issued	253.72	-	205.29	-
Long-Term Debt Issued	53,619	32,610	26,965	29,501
Total Debt Issued	53,873	32,610	27,170	29,501
Short-Term Debt Repaid	-3,081	-203.07	-	-1,906
Long-Term Debt Repaid	-39,020	-22,256	-18,923	-18,081
Total Debt Repaid	-42,101	-22,459	-18,923	-19,987
Net Debt Issued (Repaid)	11,772	10,151	8,247	9,515
Issuance of Common Stock	1,514	1,997	-	3,166
Repurchase of Common Stock	-3,665	-	-	-3,222
Common Dividends Paid	-3,255	-2,617	-2,238	-1,972
Other Financing Activities	-6,695	-5,403	-6,475	-1,813
Financing Cash Flow	-328.04	4,129	-466.18	5,673
Foreign Exchange Rate Adjustments	-502.61	-1,210	-906.35	369.59
Net Cash Flow	2,124	4,439	-741.87	1,571
Free Cash Flow	859.16	-188.97	-133.34	-1,008
Free Cash Flow Margin	0.79%	-0.18%	-0.15%	-1.60%
Free Cash Flow Per Share	0.17	-0.04	-0.03	-0.20
Cash Interest Paid	3,075	3,003	2,689	2,154
Cash Income Tax Paid	2,392	1,669	1,822	1,506
Levered Free Cash Flow	-479.24	-733.42	-1,346	-7,637
Unlevered Free Cash Flow	1,395	1,084	306.49	-6,300
Change in Working Capital	-10,731	-11,209	-9,051	-7,686

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