(a)Cash generated from operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
2024 |
|
|
2025 |
|
|
|
RMB’million |
|
|
RMB’million |
|
|
RMB’million |
|
Profit before income tax |
|
|
6,045 |
|
|
|
8,712 |
|
|
|
13,277 |
|
Adjustments for: |
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
1,004 |
|
|
|
978 |
|
|
|
1,375 |
|
Impairment of long-term investments |
|
|
23 |
|
|
|
64 |
|
|
|
82 |
|
Loss allowance for expected credit losses (Note 20) |
|
|
17 |
|
|
|
17 |
|
|
|
6 |
|
Non-cash employee benefits expense – share based payments
(Note 8) |
|
|
649 |
|
|
|
596 |
|
|
|
669 |
|
Fair value gains on investments (Note 7) |
|
|
- |
|
|
|
(12 |
) |
|
|
(49 |
) |
Net (gains)/losses in relation to equity investments (Note 7) |
|
|
(12 |
) |
|
|
50 |
|
|
|
(2,381 |
) |
Dividend income (Note 7) |
|
|
(15 |
) |
|
|
(17 |
) |
|
|
(173 |
) |
(Gains)/losses of step-up acquisition arising from business
combination (Note 7) |
|
|
(4 |
) |
|
|
(29 |
) |
|
|
6 |
|
Share of profit of associates and joint ventures (Note 17) |
|
|
(127 |
) |
|
|
(96 |
) |
|
|
(42 |
) |
Interest income |
|
|
(1,052 |
) |
|
|
(1,196 |
) |
|
|
(1,054 |
) |
Interest expenses |
|
|
124 |
|
|
|
124 |
|
|
|
122 |
|
Net exchange differences |
|
|
17 |
|
|
|
(30 |
) |
|
|
7 |
|
Increase in accounts receivable |
|
|
(204 |
) |
|
|
(539 |
) |
|
|
(355 |
) |
Decrease/(increase) in inventories |
|
|
7 |
|
|
|
(15 |
) |
|
|
(17 |
) |
Decrease/(increase) in other operating assets |
|
|
85 |
|
|
|
72 |
|
|
|
(416 |
) |
Increase/(decrease) in accounts payable |
|
|
52 |
|
|
|
1,845 |
|
|
|
(783 |
) |
Increase in other operating liabilities |
|
|
846 |
|
|
|
193 |
|
|
|
538 |
|
Cash generated from operations |
|
|
7,455 |
|
|
|
10,717 |
|
|
|
10,812 |
|
(b)Reconciliation of changes in liabilities from financing activities The reconciliation of changes in liabilities from financing activities are mainly related to lease liabilities and notes payable which have been disclosed in the consolidated statements of cash flows, Note 14 and Note 25, respectively.
|