HKG:6805 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	134.78	122.61	91.17	111.24	55.92
Depreciation & Amortization	310.49	265.46	263.99	219.07	203.55
Other Amortization	0.74	0.53	0.28	0.14	0.09
Gain (Loss) on Sale of Assets	7.17	-6.76	-0.44	0.46	0.06
Gain (Loss) on Sale of Investments	0.47	0.85	0.6	1.12	0.11
Income (Loss) on Equity Investments	-0.48	-0.37	-0.03	0.05	-
Change in Accounts Receivable	-83.94	-57.79	-155.47	-41.24	-70.12
Change in Accounts Payable	52.55	34.49	52.09	65.39	78.4
Change in Other Net Operating Assets	-	-	-	-	-3.14
Other Operating Activities	95.53	114.76	122.56	95.93	81.06
Operating Cash Flow	574.91	488.08	375.31	455.96	357.36
Operating Cash Flow Growth	17.79%	30.05%	-17.69%	27.59%	37.16%
Acquisition of Real Estate Assets	-707.85	-687.94	-638.58	-784.95	-661.68
Sale of Real Estate Assets	22.25	21.71	189.23	3.71	0.02
Net Sale / Acq. of Real Estate Assets	-685.59	-666.23	-449.35	-781.24	-661.66
Investment in Marketable & Equity Securities	-0.8	-0.4	-	-	-
Other Investing Activities	74.1	-93.29	1.71	-46.57	1.03
Investing Cash Flow	-614.89	-763.35	-450.64	-828.07	-660.7
Short-Term Debt Issued	-	-	-	8.52	2.25
Long-Term Debt Issued	1,312	1,633	1,522	1,307	760.3
Total Debt Issued	1,312	1,633	1,522	1,316	762.55
Short-Term Debt Repaid	-	-	-	-10.77	-
Long-Term Debt Repaid	-967.65	-1,310	-1,005	-734.93	-346.13
Total Debt Repaid	-967.65	-1,310	-1,005	-745.7	-346.13
Net Debt Issued (Repaid)	343.87	322.4	517.47	570.21	416.42
Repurchase of Common Stock	-	-	-3.07	-7.89	-0.1
Common Dividends Paid	-254.67	-100.51	-49.29	-	-
Other Financing Activities	-74.78	-0.91	-303.16	-111.42	-73.65
Foreign Exchange Rate Adjustments	-0.67	-3.04	-0.17	-0.65	0.06
Net Cash Flow	-26.22	-57.35	86.45	78.14	39.39
Cash Interest Paid	126.51	141.3	152.39	124.6	102.04
Cash Income Tax Paid	42.1	50.75	40.8	47.42	32.4
Levered Free Cash Flow	460.13	193.29	247.15	378.47	228.23
Unlevered Free Cash Flow	534.07	280.14	332.75	441.88	285.33
Change in Working Capital	12.83	-18.55	-106.7	27.95	16.57

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.