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Price: 42.85 CNY -0.4%

Market Cap: ¥76.7B

Cash Flow Statement

Operating Cash Flow

Investing Cash Flow

Financing Cash Flow

Currency: CNY

		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	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-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	Dec-2025
Operating Cash Flow
Cash Taxes Paid		(35)	(31)	(33)	(39)	(42)	(31)	(32)	(37)	(39)	(36)	(33)	(31)	(25)	(46)	(53)	(66)	(61)	(50)	(46)	(2)	(9)	5	25	16	33	38	7	30	29	14	37	33	23	44	42	42	72	76	82	90	84	102	113	126	145	127	65	112	(40)	91	100	143	211	69	3	187	190	129	190	(124)	(118)	(106)	(102)	399	567	670	728	(14)	(119)	(350)	(477)	(219)	(318)	(428)	(392)	(236)	(282)	(131)	(193)	(297)	(154)	(138)	(154)	44	82	167	369	329
Change in Working Capital		(41)	(17)	(9)	(63)	(60)	(65)	(81)	(56)	(76)	(66)	(60)	(67)	(59)	(64)	(67)	(77)	(97)	(97)	(89)	(73)	(56)	(79)	(72)	(114)	(154)	(153)	(188)	(256)	(272)	(300)	(397)	(862)	(230)	(212)	(104)	(927)	(361)	(659)	(928)	(1 172)	(1 220)	(1 131)	(1 213)	(1 187)	(1 241)	(1 267)	(1 488)	(2 552)	(2 965)	(3 896)	(4 057)	(4 600)	(4 787)	(4 610)	(4 864)	(4 465)	(4 575)	(4 612)	(4 555)	(4 478)	(4 386)	(4 268)	(4 227)	(4 037)	(3 900)	(3 743)	(3 597)	(3 427)	(3 822)	(4 177)	(4 444)	(4 352)	(4 420)	(4 361)	(4 228)	(4 381)	(4 370)	(4 070)	(4 160)	(4 001)	(4 036)	(4 181)	(4 404)	(4 601)	(5 014)	(5 427)	(5 437)	(5 761)
Cash from Operating Activities		313 N/A	273 -13%	233 -15%	478 +105%	387 -19%	387 +0%	353 -9%	194 -45%	194 0%	311 +61%	451 +45%	567 +26%	786 +39%	941 +20%	851 -10%	651 -24%	602 -7%	569 -6%	650 +14%	769 +18%	572 -26%	480 -16%	423 -12%	216 -49%	392 +81%	494 +26%	502 +2%	415 -17%	368 -11%	326 -11%	345 +6%	485 +41%	544 +12%	537 -1%	474 -12%	506 +7%	412 -19%	307 -25%	373 +22%	810 +117%	759 -6%	801 +5%	1 056 +32%	1 049 -1%	1 105 +5%	1 426 +29%	1 421 0%	1 746 +23%	1 838 +5%	1 983 +8%	2 264 +14%	2 669 +18%	2 746 +3%	3 312 +21%	3 801 +15%	3 805 +0%	3 677 -3%	3 503 -5%	2 369 -32%	2 509 +6%	2 537 +1%	2 170 -14%	2 689 +24%	3 176 +18%	4 156 +31%	4 512 +9%	5 446 +21%	5 435 0%	5 491 +1%	6 164 +12%	6 596 +7%	7 429 +13%	7 864 +6%	7 232 -8%	7 016 -3%	6 012 -14%	5 607 -7%	5 749 +3%	4 665 -19%	4 437 -5%	4 576 +3%	5 043 +10%	5 337 +6%	5 834 +9%	5 606 -4%	5 146 -8%	5 593 +9%	4 652 -17%
Investing Cash Flow
Capital Expenditures		(761)	(778)	(554)	(528)	(580)	(372)	(260)	(382)	(307)	(435)	(559)	(452)	(502)	(474)	(423)	(729)	(948)	(1 179)	(1 130)	(925)	(667)	(426)	(463)	(321)	(477)	(415)	(589)	(687)	(883)	(1 256)	(1 354)	(1 560)	(1 413)	(1 190)	(1 312)	(1 054)	0	(976)	(846)	(1 119)	(1 232)	(1 117)	(888)	(1 190)	(1 437)	(1 780)	(2 050)	(2 364)	(2 869)	(4 459)	(4 570)	(4 768)	(4 490)	(3 668)	(4 181)	(4 284)	(4 337)	(4 084)	(4 293)	(4 311)	(4 260)	(4 084)	(3 499)	(2 804)	(2 892)	(2 610)	(2 709)	(3 330)	(3 250)	(3 642)	(4 281)	(4 358)	(4 660)	(4 260)	(4 033)	(3 924)	(3 864)	(3 963)	(3 669)	(3 128)	(3 223)	(3 409)	(3 784)	(4 591)	(5 182)	(5 359)	(5 859)	(6 298)
Other Items		(40)	(53)	(73)	(156)	(136)	(124)	(103)	146	144	111	111	(33)	(33)	(27)	(34)	(3)	(2)	10	14	95	99	103	110	(11)	(12)	22	18	248	235	255	255	25	86	44	24	34	(315)	(12)	8	(26)	270	(153)	(151)	(264)	(276)	(213)	(2 993)	(3 847)	(3 743)	(3 627)	(780)	471	391	475	331	661	534	571	684	755	935	790	821	193	134	120	95	471	501	(946)	(849)	(1 958)	(2 584)	(1 268)	(2 024)	(1 434)	345	1 651	800	2 131	1 507	466	28	(1 671)	(3 339)	(4 665)	(2 042)	(2 758)
Cash from Investing Activities		(801) N/A	(830) -4%	(627) +24%	(685) -9%	(716) -5%	(496) +31%	(362) +27%	(236) +35%	(162) +31%	(323) -99%	(449) -39%	(486) -8%	(535) -10%	(501) +6%	(457) +9%	(732) -60%	(950) -30%	(1 170) -23%	(1 117) +5%	(830) +26%	(568) +32%	(324) +43%	(353) -9%	(332) +6%	(489) -47%	(393) +20%	(571) -45%	(439) +23%	(648) -48%	(1 000) -54%	(1 099) -10%	(1 535) -40%	(1 327) +14%	(1 146) +14%	(1 288) -12%	(1 020) +21%	(1 104) -8%	(987) +11%	(838) +15%	(1 145) -37%	(963) +16%	(1 270) -32%	(1 039) +18%	(1 455) -40%	(1 713) -18%	(1 993) -16%	(5 043) -153%	(6 211) -23%	(6 612) -6%	(8 086) -22%	(5 350) +34%	(4 297) +20%	(4 099) +5%	(3 193) +22%	(3 850) -21%	(3 623) +6%	(3 803) -5%	(3 513) +8%	(3 609) -3%	(3 556) +1%	(3 326) +6%	(3 294) +1%	(2 678) +19%	(2 611) +3%	(2 757) -6%	(2 491) +10%	(2 615) -5%	(2 859) -9%	(2 749) +4%	(4 588) -67%	(5 130) -12%	(6 316) -23%	(7 244) -15%	(5 528) +24%	(6 057) -10%	(5 358) +12%	(3 519) +34%	(2 312) +34%	(2 869) -24%	(998) +65%	(1 716) -72%	(2 944) -72%	(3 756) -28%	(6 262) -67%	(8 521) -36%	(10 024) -18%	(7 901) +21%	(9 056) -15%
Financing Cash Flow
Net Issuance of Debt		366	442	358	349	333	219	264	165	185	65	(8)	5	(207)	(310)	(100)	77	570	811	388	533	282	182	298	(208)	(291)	(333)	(309)	(517)	(220)	(30)	145	953	817	712	942	624	723	730	552	598	585	1 103	920	1 207	1 221	2 060	2 766	1 893	1 732	862	(53)	(450)	(629)	(2 136)	(2 589)	(1 231)	(611)	1 902	3 672	2 129	549	(705)	(2 832)	(3 020)	(1 872)	(1 917)	(1 753)	(465)	(1 686)	(4 025)	(3 849)	(4 460)	(3 637)	(1 510)	(143)	163	(260)	306	755	1 864	3 476	2 984	2 886	1 932	2 100	1 371	(55)	732
Cash Paid for Dividends		(41)	(48)	(59)	(53)	(60)	(71)	(75)	(75)	(77)	(71)	(81)	(88)	(90)	(75)	(64)	(73)	(76)	(137)	(152)	(179)	(178)	(129)	(115)	(104)	(106)	(192)	(189)	(183)	(175)	(134)	(136)	(145)	(162)	(125)	(138)	(154)	(163)	(187)	(190)	(187)	(216)	(213)	(224)	(248)	(233)	(255)	(430)	(507)	(530)	(747)	(573)	(813)	(861)	(827)	(926)	(783)	(807)	(863)	(867)	(973)	(1 126)	(946)	(1 023)	(726)	(589)	(594)	(482)	(612)	(585)	(514)	(555)	(389)	(299)	(277)	(521)	(525)	(536)	(901)	(574)	(627)	(654)	(512)	(517)	(580)	(577)	(621)	(667)	(596)
Other		0	0	0	(2)	0	(0)	6	10	11	14	5	1	634	632	642	585	(50)	(58)	(60)	(2)	0	0	0	(27)	(20)	(6)	235	622	682	670	430	151	118	119	121	78	67	101	122	(15)	10	(147)	1 041	1 518	1 464	3 303	2 060	2 760	2 778	2 545	2 650	2 301	2 718	3 672	3 890	1 847	1 192	(1 694)	1 266	2 265	2 062	3 002	802	808	1 067	462	(797)	(1 169)	(753)	3 872	3 866	4 357	3 977	(983)	(940)	(687)	(576)	85	264	175	958	716	685	1 062	292	297	294	596
Cash from Financing Activities		702 N/A	392 -44%	292 -26%	293 +1%	270 -8%	147 -46%	194 +32%	100 -49%	119 +19%	8 -93%	(85) N/A	(82) +3%	337 N/A	247 -27%	478 +94%	589 +23%	443 -25%	616 +39%	175 -72%	351 +101%	104 -71%	57 -45%	183 +223%	(339) N/A	(417) -23%	(531) -27%	(263) +51%	(78) +70%	287 N/A	506 +76%	439 -13%	959 +119%	774 -19%	706 -9%	926 +31%	548 -41%	627 +14%	644 +3%	484 -25%	397 -18%	379 -5%	744 +96%	1 737 +134%	2 477 +43%	2 452 -1%	5 108 +108%	4 396 -14%	4 146 -6%	3 979 -4%	2 661 -33%	2 024 -24%	1 038 -49%	1 228 +18%	710 -42%	375 -47%	(166) N/A	(226) -36%	(655) -189%	4 071 N/A	3 422 -16%	1 485 -57%	1 351 -9%	(3 054) N/A	(2 939) +4%	(1 395) +53%	(2 050) -47%	(3 032) -48%	(2 246) +26%	(3 024) -35%	(667) +78%	(538) +19%	(492) +9%	42 N/A	(2 770) N/A	(1 604) +42%	(1 048) +35%	(1 372) -31%	(511) +63%	445 N/A	1 411 +217%	3 780 +168%	3 187 -16%	3 054 -4%	2 414 -21%	1 816 -25%	1 047 -42%	(428) N/A	732 N/A
Change in Cash
Effect of Foreign Exchange Rates		0	(0)	0	0	(0)	(0)	2	(5)	(4)	(8)	(1)	(8)	(8)	(4)	(17)	(2)	(4)	(8)	(5)	(0)	2	4	5	(1)	(1)	(1)	(4)	(3)	(3)	(3)	(4)	(8)	(8)	(7)	(4)	(0)	(4)	(4)	(5)	(17)	(14)	(15)	(13)	5	9	17	(9)	83	75	101	131	71	66	26	18	(54)	(76)	(31)	(18)	92	101	91	118	32	75	42	(43)	(28)	(44)	(53)	(4)	(25)	(33)	41	77	84	78	64	19	22	31	(12)	(51)	31	8	(6)	8	(95)
Net Change in Cash		214 N/A	(165) N/A	(102) +38%	87 N/A	(59) N/A	38 N/A	187 +391%	53 -72%	146 +177%	(12) N/A	(83) -577%	(10) +88%	580 N/A	683 +18%	855 +25%	506 -41%	91 -82%	8 -91%	(297) N/A	290 N/A	110 -62%	217 +97%	258 +19%	(456) N/A	(515) -13%	(431) +16%	(335) +22%	(105) +69%	5 N/A	(172) N/A	(320) -86%	(99) +69%	(18) +82%	90 N/A	107 +19%	34 -68%	(69) N/A	(40) +42%	14 N/A	45 +223%	161 +257%	260 +61%	1 742 +570%	2 076 +19%	1 854 -11%	4 558 +146%	764 -83%	(236) N/A	(720) -205%	(3 342) -364%	(931) +72%	(519) +44%	(58) +89%	855 N/A	343 -60%	(39) N/A	(427) -1 006%	(696) -63%	2 813 N/A	2 467 -12%	798 -68%	318 -60%	(2 925) N/A	(2 341) +20%	79 N/A	13 -84%	(243) N/A	301 N/A	(327) N/A	856 N/A	924 +8%	596 -35%	628 +5%	(1 025) N/A	(568) +45%	(310) +45%	794 N/A	2 990 +277%	2 260 -24%	4 872 +116%	6 671 +37%	5 275 -21%	4 585 -13%	2 017 -56%	(1 091) N/A	(3 837) -252%	(2 727) +29%	(3 767) -38%
Free Cash Flow
Free Cash Flow		(448) N/A	(505) -13%	(321) +36%	(50) +84%	(193) -287%	15 N/A	93 +526%	(188) N/A	(113) +40%	(124) -9%	(108) +12%	114 N/A	284 +149%	467 +64%	428 -8%	(78) N/A	(346) -342%	(611) -76%	(480) +21%	(156) +68%	(94) +39%	53 N/A	(40) N/A	(105) -164%	(85) +19%	79 N/A	(87) N/A	(272) -214%	(515) -89%	(930) -81%	(1 009) -9%	(1 075) -7%	(869) +19%	(653) +25%	(839) -29%	(547) +35%	412 N/A	(669) N/A	(473) +29%	(308) +35%	(473) -53%	(316) +33%	168 N/A	(142) N/A	(332) -134%	(355) -7%	(630) -78%	(618) +2%	(1 032) -67%	(2 475) -140%	(2 306) +7%	(2 099) +9%	(1 743) +17%	(356) +80%	(380) -7%	(480) -26%	(660) -38%	(582) +12%	(1 924) -231%	(1 802) +6%	(1 723) +4%	(1 914) -11%	(810) +58%	373 N/A	1 264 +239%	1 901 +50%	2 737 +44%	2 104 -23%	2 240 +6%	2 521 +13%	2 314 -8%	3 070 +33%	3 204 +4%	2 972 -7%	2 982 +0%	2 088 -30%	1 742 -17%	1 786 +3%	996 -44%	1 308 +31%	1 353 +3%	1 634 +21%	1 554 -5%	1 243 -20%	424 -66%	(213) N/A	(266) -25%	(1 646) -518%

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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