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Price: 27.62 CNY -0.9% Market Closed

Market Cap: ¥409.3B

Cash Flow Statement

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Currency: CNY

		Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Sep-2011	Mar-2012	Sep-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025
Operating Cash Flow
Cash Taxes Paid		(46)	(52)	(103)	(120)	(118)	(104)	(58)	(40)	(50)	(155)	(159)	(323)	(483)	(866)	(1 854)	(2 685)	(3 640)	(4 499)	(6 895)	(6 481)	(5 826)	(4 471)	(3 401)	(2 085)	(4 476)	(5 542)	(4 429)	(5 461)	(3 419)	(4 552)	(4 593)	424	1 159	1 201	989	1 438	(1 832)	(2 384)	(3 416)	(3 932)	(4 133)	(4 836)	(5 465)	(8 106)	(9 364)	(9 816)	(10 177)	(8 071)	(7 812)	(7 366)	(6 311)	(6 159)	(5 946)	(5 303)	(5 314)	(5 569)	(4 378)	(4 592)	(5 725)	(5 334)	(6 648)	(6 529)	(6 560)	(7 242)	(7 233)	(8 044)	(11 628)	(11 323)	(13 403)	(13 293)	(11 499)	(12 593)	(11 381)	(11 237)	(12 066)	(11 041)	(10 945)	(11 106)	(7 630)	(7 467)	(7 720)	(7 493)	(9 096)	(9 790)
Change in Working Capital		(1 883)	(226)	192	1 669	(526)	(3 919)	(1 313)	(1 469)	3 619	5 529	20 747	17 086	27 388	64 427	96 861	110 280	53 445	48 160	40 199	(57 848)	(26 857)	(53 929)	(93 250)	24 634	54 652	51 233	17 478	(25 631)	(24 482)	(38 927)	(7 737)	14 317	14 955	(7 603)	(20 929)	(10 672)	(29 226)	(33 116)	(17 170)	(20 942)	(40 595)	(58 588)	(78 276)	(42 712)	3 907	24 608	40 936	3 187	(13 558)	(17 156)	(8 973)	(12 367)	(35 250)	(43 311)	(54 813)	(15 172)	29 035	4 503	47 212	9 116	(7 756)	25 641	(17 301)	(12 270)	(18 266)	(37 413)	(35 985)	(26 448)	24 848	39 943	53 259	42 813	(14 010)	(33 367)	(46 720)	(49 121)	(29 041)	(33 117)	(16 167)	(62 784)	(57 757)	(99 059)	(96 768)	(140 512)
Cash from Operating Activities		(1 929) N/A	(279) +86%	89 N/A	1 549 +1 640%	(644) N/A	(4 022) -525%	(1 372) +66%	(1 509) -10%	3 569 N/A	5 541 +55%	21 578 +289%	17 881 -17%	30 250 +69%	68 956 +128%	104 598 +52%	121 162 +16%	67 682 -44%	62 074 -8%	49 682 -20%	(50 026) N/A	(22 190) +56%	(48 218) -117%	(86 480) -79%	35 160 N/A	64 360 +83%	60 091 -7%	26 046 -57%	(20 601) N/A	(17 759) +14%	(35 084) -98%	(6 125) +83%	14 403 N/A	15 480 +7%	(6 247) N/A	(19 463) -212%	(8 426) +57%	(18 610) -121%	(10 021) +46%	202 N/A	16 475 +8 056%	30 432 +85%	47 102 +55%	166 097 +253%	110 495 -33%	86 246 -22%	51 884 -40%	(91 180) N/A	(63 256) +31%	(49 392) +22%	(72 833) -47%	(56 998) +22%	(69 489) -22%	(104 193) -50%	(51 137) +51%	(19 177) +62%	16 676 N/A	57 654 +246%	68 447 +19%	61 583 -10%	23 432 -62%	21 976 -6%	26 616 +21%	13 099 -51%	73 911 +464%	101 825 +38%	53 562 -47%	73 156 +37%	68 157 -7%	28 458 -58%	123 596 +334%	129 484 +5%	61 531 -52%	78 523 +28%	(1 105) N/A	(14 125) -1 179%	(37 523) -166%	(40 837) -9%	31 863 N/A	(14 013) N/A	127 074 N/A	172 563 +36%	48 708 -72%	165 478 +240%	115 150 -30%
Investing Cash Flow
Capital Expenditures		(20)	(21)	(25)	(49)	(49)	(52)	(52)	(34)	(560)	(554)	(606)	(605)	(465)	(485)	(633)	(859)	(634)	(659)	(547)	(385)	(376)	(362)	(344)	(1 811)	(1 906)	(1 949)	(2 017)	(842)	(1 023)	(1 090)	(1 272)	8	513	93	52	157	(333)	(322)	(373)	(375)	(604)	(655)	(771)	(1 965)	(4 288)	(4 274)	(4 178)	(3 009)	(597)	(597)	(567)	(530)	(443)	(414)	(439)	(497)	(459)	(479)	(489)	(433)	(429)	(402)	(393)	(428)	(609)	(637)	(635)	(705)	(720)	(907)	(1 034)	(1 205)	(1 304)	(1 430)	(1 417)	(1 408)	(1 580)	(1 413)	(1 443)	(1 326)	(1 293)	(1 272)	(1 377)	(1 416)
Other Items		1 138	495	674	426	10	857	(376)	(1 154)	369	(262)	158	1 995	(148)	(2 777)	(1 309)	(4 543)	(2 911)	(3 087)	(11 529)	(14 702)	(24 777)	(10 057)	1 012	5 064	(5 132)	(12 118)	(16 628)	(12 308)	(39 709)	(40 641)	(41 797)	(3 296)	(4 380)	2 633	4 432	4 857	5 103	(4 834)	(4 840)	5 244	628	5 296	4 846	(20 270)	(33 623)	(43 660)	(35 864)	(11 914)	10 535	30 183	19 945	25 522	28 716	20 710	14 074	4 586	(20 336)	(17 297)	(11 102)	(8 686)	16 676	34 287	20 578	2 570	(6 250)	(20 486)	(8 868)	706	(6 196)	(5 731)	9 001	21 840	512	(5 197)	(16 624)	(15 632)	(16 618)	(53 939)	(59 598)	(68 773)	(72 970)	(9 811)	1 822	602
Cash from Investing Activities		1 118 N/A	474 -58%	650 +37%	377 -42%	(39) N/A	805 N/A	(429) N/A	(1 188) -177%	(191) +84%	(816) -327%	(448) +45%	1 390 N/A	(613) N/A	(3 262) -432%	(1 942) +40%	(5 402) -178%	(3 545) +34%	(3 746) -6%	(12 075) -222%	(15 087) -25%	(25 153) -67%	(10 418) +59%	667 N/A	3 253 +388%	(7 038) N/A	(14 068) -100%	(18 646) -33%	(13 150) +29%	(40 732) -210%	(41 731) -2%	(43 069) -3%	(3 289) +92%	(3 867) -18%	2 727 N/A	4 485 +64%	5 014 +12%	4 770 -5%	(5 155) N/A	(5 212) -1%	4 869 N/A	24 -100%	4 640 +19 233%	4 074 -12%	(22 235) N/A	(37 910) -70%	(47 933) -26%	(40 041) +16%	(14 921) +63%	9 938 N/A	29 586 +198%	19 378 -35%	24 991 +29%	28 273 +13%	20 297 -28%	13 635 -33%	4 089 -70%	(20 795) N/A	(17 777) +15%	(11 591) +35%	(9 119) +21%	16 248 N/A	33 886 +109%	20 186 -40%	2 143 -89%	(6 860) N/A	(21 125) -208%	(9 504) +55%	0 N/A	(6 916) N/A	(6 637) +4%	7 967 N/A	20 635 +159%	(792) N/A	(6 627) -737%	(18 041) -172%	(17 041) +6%	(18 198) -7%	(55 352) -204%	(61 041) -10%	(70 100) -15%	(74 264) -6%	(11 083) +85%	445 N/A	(814) N/A
Financing Cash Flow
Net Issuance of Debt		(10)	450	(840)	450	450	0	100	899	0	0	1 400	601	1 500	1 500	0	0	(201)	(345)	(342)	(341)	(141)	(447)	(450)	(451)	(450)	(9)	(87)	0	0	0	0	0	10 000	2 000	20 773	11 451	24 034	30 756	16 706	14 059	31 679	36 991	59 796	51 678	19 736	1 134	(14 281)	(13 448)	1 100	28 413	21 297	40 985	48 901	25 098	17 557	(11 984)	(8 936)	(16 009)	525	23 925	11 132	32 913	20 116	29 524	30 176	29 683	28 540	17 687	11 960	(14 421)	(27 505)	(38 809)	(55 291)	(16 631)	(475)	6 655	60 873	29 095	13 200	14 297	(9 909)	(8 104)	(7 849)	52 093
Cash Paid for Dividends		(93)	0	(358)	(358)	(273)	0	0	(130)	(124)	(140)	(146)	(356)	(340)	(342)	(1 006)	(674)	(688)	(693)	(2 427)	(2 381)	(2 462)	(2 457)	(3 696)	(3 742)	(3 661)	0	(3 395)	(3 395)	(3 395)	0	(5 050)	(18)	230	(117)	(323)	1 024	(4 006)	(4 122)	(5 143)	(3 870)	(4 058)	(4 475)	(5 839)	(7 780)	(7 705)	(8 690)	(7 571)	(10 808)	(10 671)	(10 352)	(10 716)	(8 541)	(8 341)	(9 044)	(9 314)	(10 250)	(11 547)	(11 250)	(11 493)	(10 081)	(10 134)	(10 433)	(11 186)	(14 173)	(13 721)	(13 277)	(12 710)	(12 025)	(12 091)	(12 724)	(12 234)	(15 364)	(15 067)	(15 352)	(15 020)	(14 368)	(13 809)	(13 872)	(13 563)	(13 235)	(17 970)	(18 434)	(18 542)	(15 389)
Other		0	0	(94)	(2)	(3)	(17)	(16)	(15)	1 059	1 073	5 713	5 713	4 640	4 640	0	25 094	24 979	24 979	25 011	(82)	30	44	296	3 155	136	169	(115)	(2 313)	2 989	3 280	2 572	0	395	103	205	3 518	269	184	98	(3 601)	8 653	11 668	24 246	23 019	15 278	13 389	2 550	2 952	1 572	160	(3 704)	(2 236)	(3 075)	(2 491)	(782)	(1 664)	(1 269)	(919)	(945)	(897)	(1 157)	(111)	(2 510)	(2 779)	(4 456)	(6 236)	(1 794)	9 130	9 844	40 673	38 764	28 462	28 499	(1 652)	(2 404)	(2 905)	1 218	8 134	8 281	10 499	12 517	8 413	9 003	7 285
Cash from Financing Activities		(103) N/A	357 N/A	(1 199) N/A	183 N/A	174 -5%	(290) N/A	76 N/A	754 +892%	935 +24%	933 0%	6 968 +647%	5 958 -14%	5 801 -3%	5 799 0%	(1 006) N/A	24 421 N/A	24 090 -1%	23 940 -1%	22 242 -7%	(2 804) N/A	(2 573) +8%	(2 859) -11%	(3 850) -35%	(1 037) +73%	(3 975) -283%	(3 482) +12%	(3 598) -3%	(5 709) -59%	(407) +93%	(108) +73%	(2 479) -2 195%	(356) +86%	10 332 N/A	1 986 -81%	20 655 +940%	15 995 -23%	20 298 +27%	26 818 +32%	11 661 -57%	6 586 -44%	36 273 +451%	44 184 +22%	78 202 +77%	66 918 -14%	27 309 -59%	5 832 -79%	(19 302) N/A	(21 304) -10%	(7 999) +62%	18 221 N/A	6 878 -62%	30 206 +339%	37 485 +24%	13 562 -64%	7 459 -45%	(23 898) N/A	(21 751) +9%	(28 176) -30%	(11 912) +58%	12 948 N/A	(159) N/A	22 368 N/A	6 420 -71%	12 572 +96%	11 998 -5%	10 169 -15%	14 034 +38%	14 791 +5%	9 713 -34%	13 529 +39%	(975) N/A	(25 711) -2 537%	(41 860) -63%	(33 636) +20%	(17 899) +47%	(10 617) +41%	48 281 N/A	23 356 -52%	7 917 -66%	11 560 +46%	(15 362) N/A	(18 126) -18%	(17 388) +4%	43 990 N/A
Change in Cash
Effect of Foreign Exchange Rates		0	0	0	0	0	0	0	(3)	(14)	(18)	(19)	(27)	(26)	(41)	(72)	(58)	(123)	(209)	(241)	(255)	(186)	(81)	(18)	(8)	(3)	(7)	(27)	(55)	(94)	(113)	(134)	20	227	(31)	(183)	(435)	(352)	(160)	(67)	(11)	(114)	(263)	(291)	681	1 170	1 005	1 686	968	1 336	1 503	314	(449)	(1 347)	(2 287)	(464)	1 404	1 563	2 715	1 225	365	(239)	143	120	(1 278)	(1 930)	(2 398)	(3 182)	(2 729)	(1 589)	(2 176)	(954)	1 905	557	641	1 561	(1 244)	399	639	(472)	(51)	245	477	356	80
Net Change in Cash		(914) N/A	552 N/A	(460) N/A	2 109 N/A	(509) N/A	(3 507) -589%	(1 725) +51%	(1 946) -13%	4 299 N/A	5 640 +31%	28 079 +398%	25 202 -10%	35 412 +41%	71 452 +102%	101 578 +42%	140 123 +38%	88 104 -37%	82 059 -7%	59 608 -27%	(68 172) N/A	(50 102) +27%	(61 576) -23%	(89 681) -46%	37 368 N/A	53 344 +43%	42 534 -20%	3 775 -91%	(39 515) N/A	(58 992) -49%	(77 036) -31%	(51 807) +33%	10 778 N/A	22 172 +106%	(1 565) N/A	5 494 N/A	12 148 +121%	6 106 -50%	11 482 +88%	6 584 -43%	27 919 +324%	66 615 +139%	95 663 +44%	248 082 +159%	155 859 -37%	76 815 -51%	10 788 -86%	(148 837) N/A	(98 513) +34%	(46 117) +53%	(23 523) +49%	(30 428) -29%	(14 741) +52%	(39 782) -170%	(19 565) +51%	1 453 N/A	(1 729) N/A	16 671 N/A	25 209 +51%	39 305 +56%	27 626 -30%	37 826 +37%	83 013 +119%	39 825 -52%	87 348 +119%	105 033 +20%	40 208 -62%	74 504 +85%	80 219 +8%	29 667 -63%	128 312 +333%	135 522 +6%	58 360 -57%	36 428 -38%	(40 726) N/A	(48 503) -19%	(66 424) -37%	(10 355) +84%	506 N/A	(67 609) N/A	68 483 N/A	83 182 +21%	19 976 -76%	148 891 +645%	158 406 +6%
Free Cash Flow
Free Cash Flow		(1 949) N/A	(300) +85%	64 N/A	1 500 +2 244%	(693) N/A	(4 074) -488%	(1 424) +65%	(1 543) -8%	3 009 N/A	4 987 +66%	20 972 +321%	17 276 -18%	29 785 +72%	68 471 +130%	103 965 +52%	120 303 +16%	67 048 -44%	61 415 -8%	49 135 -20%	(50 411) N/A	(22 566) +55%	(48 580) -115%	(86 824) -79%	33 349 N/A	62 454 +87%	58 142 -7%	24 029 -59%	(21 443) N/A	(18 782) +12%	(36 174) -93%	(7 397) +80%	14 411 N/A	15 993 +11%	(6 154) N/A	(19 411) -215%	(8 269) +57%	(18 943) -129%	(10 343) +45%	(171) +98%	16 100 N/A	29 828 +85%	46 447 +56%	165 326 +256%	108 530 -34%	81 958 -24%	47 610 -42%	(95 358) N/A	(66 265) +31%	(49 989) +25%	(73 430) -47%	(57 565) +22%	(70 019) -22%	(104 636) -49%	(51 551) +51%	(19 616) +62%	16 179 N/A	57 195 +254%	67 968 +19%	61 094 -10%	22 999 -62%	21 547 -6%	26 214 +22%	12 706 -52%	73 483 +478%	101 216 +38%	52 925 -48%	72 521 +37%	67 452 -7%	27 738 -59%	122 690 +342%	128 451 +5%	60 325 -53%	77 219 +28%	(2 534) N/A	(15 541) -513%	(38 931) -151%	(42 417) -9%	30 450 N/A	(15 457) N/A	125 748 N/A	171 270 +36%	47 435 -72%	164 101 +246%	113 734 -31%

Income Statement Balance Sheet Cash Flow Statement

Income Statement Balance Sheet Cash Flow Statement

See Also

Relative Valuation

Wall Street Estimates

Profitability Analysis

Solvency Analysis

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