HKG:3718 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	25.69	284.73	238.58	408.99
Depreciation & Amortization	602.98	555.24	444.73	345.35
Other Amortization	2.03	1.95	0.92	0.67
Loss (Gain) From Sale of Assets	-3.93	-7.54	-2.97	2.86
Asset Writedown & Restructuring Costs	237.68	-	-	-
Loss (Gain) on Equity Investments	0.93	-0.44	-1.24	-2.12
Provision & Write-off of Bad Debts	31	11	33	5.89
Other Operating Activities	210.92	111.23	115.02	77.13
Change in Accounts Receivable	-826.9	-746.6	-716.66	-308.02
Change in Inventory	-22.64	-1.19	3.32	-22.16
Change in Accounts Payable	141.52	105.51	116.08	29.02
Change in Unearned Revenue	-7.02	-17.02	28.01	6.34
Change in Other Net Operating Assets	20	203.2	159.95	-101.9
Operating Cash Flow	412.25	500.07	418.73	442.04
Operating Cash Flow Growth	-17.56%	19.43%	-5.27%	-21.99%
Capital Expenditures	-355.07	-727.23	-674.3	-750.86
Sale of Property, Plant & Equipment	38.61	80.28	12.67	20.24
Cash Acquisitions	-5.23	-	-	-
Sale (Purchase) of Intangibles	-3.17	-66.78	-18.09	-3.05
Investment in Securities	-9.09	-0.85	-	-
Other Investing Activities	18.07	23.73	21.6	2.63
Investing Cash Flow	-315.87	-690.84	-658.12	-731.03
Short-Term Debt Issued	-	-	-	13.02
Long-Term Debt Issued	2,944	1,913	884.72	846.54
Total Debt Issued	2,944	1,913	884.72	859.56
Long-Term Debt Repaid	-2,948	-1,886	-411.24	-444.79
Total Debt Repaid	-2,948	-1,886	-411.24	-444.79
Net Debt Issued (Repaid)	-4.38	26.88	473.48	414.78
Repurchase of Common Stock	-20.75	-1.46	-	-
Common Dividends Paid	-87.1	-81.44	-115.69	-
Other Financing Activities	-125.57	-86.94	-107.73	-179.28
Financing Cash Flow	-237.8	-142.94	250.06	235.49
Foreign Exchange Rate Adjustments	0.34	5.61	13.28	23.86
Net Cash Flow	-141.08	-328.11	23.95	-29.64
Free Cash Flow	57.19	-227.16	-255.57	-308.81
Free Cash Flow Margin	0.95%	-4.49%	-6.01%	-8.52%
Free Cash Flow Per Share	0.02	-0.06	-0.07	-0.09
Cash Interest Paid	107.14	107.2	90.03	65.63
Cash Income Tax Paid	62.89	127.75	93.51	141.98
Levered Free Cash Flow	18.72	-516.35	-440.88	-682.52
Unlevered Free Cash Flow	85.69	-449.35	-384.61	-641.02
Change in Working Capital	-695.05	-456.1	-409.3	-396.73

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