HKG:3689 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	99.59	15.34	121.06	59.7	94.31
Depreciation & Amortization	139.46	150.86	144.08	150.02	149.44
Loss (Gain) From Sale of Assets	-	0.35	0.19	0.58	0.45
Asset Writedown & Restructuring Costs	-	-	-	-	15.51
Loss (Gain) From Sale of Investments	-	9.4	0.88	4.44	2.33
Provision & Write-off of Bad Debts	-	4.28	2.77	4.21	2.93
Other Operating Activities	43.61	9.61	-18.8	-55.09	-7.79
Change in Accounts Receivable	-	-13.57	-16.16	-16.89	-23.05
Change in Inventory	-	4.57	14.77	-2.81	-27.18
Change in Accounts Payable	-	99.3	-44.59	77.25	126.42
Operating Cash Flow	282.66	280.13	204.2	221.4	333.37
Operating Cash Flow Growth	0.90%	37.19%	-7.77%	-33.59%	21.10%
Capital Expenditures	-48.2	-86.98	-130.89	-115.2	-171.18
Sale of Property, Plant & Equipment	-	0.08	0.16	0.84	0.18
Cash Acquisitions	-	6.13	-115.76	-0.57	-
Divestitures	31	-	0.03	-0.05	-
Investment in Securities	-	-20	122.17	35	-138
Other Investing Activities	-81.11	13.44	16.56	-3.18	9.67
Investing Cash Flow	-98.31	-87.33	-107.72	-83.16	-299.33
Short-Term Debt Issued	-	177	28.9	126.92	144.5
Long-Term Debt Issued	64.3	181.92	68.25	-	60
Total Debt Issued	64.3	358.92	97.15	126.92	204.5
Short-Term Debt Repaid	-	-252.1	-55.76	-150	-113.42
Long-Term Debt Repaid	-137.2	-338.27	-74.74	-62.47	-41.19
Total Debt Repaid	-137.2	-590.37	-130.51	-212.47	-154.61
Net Debt Issued (Repaid)	-72.9	-231.46	-33.36	-85.54	49.89
Common Dividends Paid	-48.6	-	-	-	-
Other Financing Activities	-76.25	-20.25	-22.21	-25.34	-26.62
Financing Cash Flow	-197.75	-251.71	-55.56	-110.88	23.27
Foreign Exchange Rate Adjustments	-	-0.14	-0.07	-0.37	0.36
Miscellaneous Cash Flow Adjustments	-	-3.52	-	-	-
Net Cash Flow	-13.39	-62.57	40.83	26.99	57.67
Free Cash Flow	234.46	193.15	73.31	106.2	162.19
Free Cash Flow Growth	21.39%	163.47%	-30.97%	-34.52%	43.76%
Free Cash Flow Margin	11.58%	9.40%	3.59%	5.75%	8.30%
Free Cash Flow Per Share	0.70	0.58	0.22	0.32	0.48
Cash Interest Paid	-	20.25	22.21	25.34	26.62
Cash Income Tax Paid	-	53.07	52.07	51.63	54.82
Levered Free Cash Flow	244.9	146.48	25.79	103.43	119.24
Unlevered Free Cash Flow	254.83	153.94	31.67	112.83	131.62
Change in Working Capital	-	90.3	-45.98	57.55	76.19

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