HKG:3836 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	-291.07	-252.19	-1,628	673.16
Depreciation & Amortization	381.53	349.8	326.03	300.5
Other Amortization	3.4	1.97	2.46	1.75
Loss (Gain) From Sale of Assets	16.03	-1.28	-2.08	18.34
Asset Writedown & Restructuring Costs	9.32	121.91	94.2	40.92
Loss (Gain) From Sale of Investments	0.91	-	1,299	58.76
Loss (Gain) on Equity Investments	0.01	8.71	3.69	-0.25
Stock-Based Compensation	-	-	-	1.35
Other Operating Activities	78.62	231.05	258.57	-8.24
Change in Accounts Receivable	-32.55	-55.4	-49.73	7.22
Change in Inventory	-926.66	62.09	362.65	-512.33
Change in Accounts Payable	-174.66	394.77	417.87	-47.18
Change in Other Net Operating Assets	768.28	-504.08	-343.59	242.12
Operating Cash Flow	-166.84	357.35	781.12	776.1
Operating Cash Flow Growth	-	-54.25%	0.65%	-2.93%
Capital Expenditures	-610.86	-352.14	-383.53	-738.37
Sale of Property, Plant & Equipment	146.03	177.64	187.12	142.39
Cash Acquisitions	-137.36	-19.92	-	-
Sale (Purchase) of Intangibles	-1.66	-0.19	-2.92	-19.21
Investment in Securities	-34.45	-175.08	149	-30
Other Investing Activities	14.52	-19.81	35.07	48.9
Investing Cash Flow	-623.78	-389.5	4.74	-589.29
Short-Term Debt Issued	10,114	10,415	11,140	14,298
Total Debt Issued	10,114	10,415	11,140	14,298
Short-Term Debt Repaid	-8,867	-10,318	-11,687	-14,273
Long-Term Debt Repaid	-193.21	-99.7	-99.17	-62.28
Total Debt Repaid	-9,060	-10,418	-11,786	-14,335
Net Debt Issued (Repaid)	1,054	-2.6	-646.13	-36.72
Issuance of Common Stock	-	-	-	1.44
Repurchase of Common Stock	-	-6.36	-80.53	-41.78
Common Dividends Paid	-49.7	-88.66	-281.01	-101.51
Other Financing Activities	-130.56	-86.46	-72.74	-93.38
Financing Cash Flow	873.31	-184.08	-1,080	-271.94
Foreign Exchange Rate Adjustments	-21.83	-27.66	-23.66	-29.99
Net Cash Flow	60.86	-243.88	-318.21	-115.12
Free Cash Flow	-777.7	5.21	397.59	37.73
Free Cash Flow Growth	-	-98.69%	953.78%	-93.79%
Free Cash Flow Margin	-4.98%	0.03%	2.44%	0.21%
Free Cash Flow Per Share	-0.52	0.00	0.26	0.02
Cash Interest Paid	174.57	134.2	124.35	139.78
Cash Income Tax Paid	84.81	160.33	174.8	307.65
Levered Free Cash Flow	-790.06	-319.26	536.54	-766.56
Unlevered Free Cash Flow	-680.95	-236.74	612.35	-684.78
Change in Working Capital	-365.59	-102.62	387.2	-310.18

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