HKG:6963 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	6,307	5,449	3,738	4,494	5,883
Depreciation & Amortization	1,658	1,642	1,701	1,668	1,740
Gain (Loss) on Sale of Assets	-	1	8	1	-3
Change in Accounts Receivable	-	-	-	-	-1,297
Reinsurance Recoverable	-	-437	-859	-383	-706
Change in Insurance Reserves / Liabilities	-	38,725	24,501	39,942	42,594
Change in Other Net Operating Assets	-	-7,394	-7,178	-1,686	14,200
Other Operating Activities	56,351	-9,058	-2,548	-17,829	-16,131
Operating Cash Flow	64,316	32,603	20,334	25,917	44,573
Operating Cash Flow Growth	97.27%	60.34%	-21.54%	-41.85%	13.80%
Capital Expenditures	-635	-602	-2,051	-1,435	-1,698
Sale of Property, Plant & Equipment	218	14	106	66	56
Investment in Securities	-81,064	-54,344	-46,293	-40,416	-15,140
Other Investing Activities	19,818	17,314	11,827	13,370	12,096
Investing Cash Flow	-61,663	-37,618	-36,411	-28,415	-4,686
Short-Term Debt Issued	7,471	2,750	14,919	5,287	2,750
Long-Term Debt Issued	-	-	7,000	-	10,000
Total Debt Issued	7,471	2,750	21,919	5,287	12,750
Total Debt Repaid	-3,078	-9,642	-795	-6,398	-36,710
Net Debt Issued (Repaid)	4,393	-6,892	21,124	-1,111	-23,960
Issuance of Common Stock	-	-	-	5,772	-
Common Dividends Paid	-1,993	-1,919	-2,025	-1,708	-1,513
Other Financing Activities	3,996	-873	-973	-1,078	-890
Financing Cash Flow	6,396	-9,684	18,126	1,875	-26,363
Foreign Exchange Rate Adjustments	-60	9	-184	171	-64
Net Cash Flow	8,989	-14,690	1,865	-452	13,460
Free Cash Flow	63,681	32,001	18,283	24,482	42,875
Free Cash Flow Growth	99.00%	75.03%	-25.32%	-42.90%	16.51%
Free Cash Flow Margin	80.14%	40.68%	25.48%	36.76%	35.74%
Free Cash Flow Per Share	5.54	2.78	1.59	2.35	4.14
Cash Interest Paid	949	907	710	980	839
Cash Income Tax Paid	-	-108	494	343	305
Levered Free Cash Flow	-21,098	1,025	-102,466	-27,670	3,548
Unlevered Free Cash Flow	-20,425	1,843	-101,772	-27,046	4,291
Change in Working Capital	-	30,894	16,464	37,873	54,791

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