HKG:9985 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	1,069	880.35	151.3	826.73
Depreciation & Amortization	140.01	125.18	133.5	104.68
Other Amortization	2.08	3.27	1.77	1.76
Loss (Gain) From Sale of Assets	7.53	7.06	2.02	1.28
Asset Writedown & Restructuring Costs	21.97	4.9	7.03	0.08
Loss (Gain) From Sale of Investments	120.03	-19.76	-25.84	-27.11
Stock-Based Compensation	36.2	89.98	726.94	50.52
Other Operating Activities	-122.63	-100.64	-67.44	-27.4
Change in Accounts Receivable	-30.77	10.5	117.44	-55.67
Change in Inventory	-441.25	179.37	4.99	-63.23
Change in Accounts Payable	145.46	-5.4	106.27	118.35
Change in Unearned Revenue	361.45	-18.92	44.68	-52.67
Change in Other Net Operating Assets	0.17	-0.17	0.29	11.81
Operating Cash Flow	1,309	1,156	1,203	889.13
Operating Cash Flow Growth	13.24%	-3.93%	35.30%	25.87%
Capital Expenditures	-304.07	-121.08	-288.48	-377.29
Sale of Property, Plant & Equipment	7.08	35.79	4.34	2.84
Cash Acquisitions	10.26	-	-	-
Sale (Purchase) of Intangibles	28.33	-1.17	-6.72	-21.2
Investment in Securities	-87	-1,099	-329.2	-1,435
Other Investing Activities	2.6	55.18	-376.28	50.07
Investing Cash Flow	-342.8	-1,131	-996.14	-1,781
Long-Term Debt Issued	2,788	2,560	1,122	664
Long-Term Debt Repaid	-2,592	-2,545	-1,430	-600.77
Net Debt Issued (Repaid)	196.19	14.51	-307.93	63.23
Issuance of Common Stock	-	-	907.71	3,601
Repurchase of Common Stock	-	-	-	-1,802
Common Dividends Paid	-855.86	-831.6	-	-595.99
Other Financing Activities	9.5	-11.52	-15.09	-5.39
Financing Cash Flow	-650.17	-828.61	584.69	1,260
Foreign Exchange Rate Adjustments	-0.26	15.42	28.68	-36.25
Net Cash Flow	315.52	-788.26	820.18	332.54
Free Cash Flow	1,005	1,035	914.46	511.84
Free Cash Flow Growth	-2.90%	13.14%	78.66%	38.37%
Free Cash Flow Margin	16.03%	21.24%	19.74%	10.66%
Free Cash Flow Per Share	0.43	0.45	0.42	0.25
Cash Interest Paid	20.66	23.7	12.79	14.31
Cash Income Tax Paid	478.33	358.45	265.99	277.49
Levered Free Cash Flow	952.03	876.74	990.05	382.43
Unlevered Free Cash Flow	964.05	890.19	998.41	385.89
Change in Working Capital	35.05	165.38	273.67	-41.4

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