HKG:0600 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-1,032	-860.92	-752.79	-611.57
Depreciation & Amortization	96.53	132.94	70.5	48.51
Other Amortization	29.4	19.26	15.47	15.26
Loss (Gain) From Sale of Assets	0.09	0.13	-0.1	-
Loss (Gain) From Sale of Investments	-2.14	-0.42	-21.45	-23.56
Loss (Gain) on Equity Investments	-	-	4.66	-
Stock-Based Compensation	91.25	51.48	42.87	36.1
Other Operating Activities	343.32	207.76	170.54	131.91
Change in Accounts Receivable	17.22	-42.84	-126.26	-26.34
Change in Inventory	-163.99	-76.55	76.27	-49.92
Change in Accounts Payable	1.07	39.22	-5.76	16.64
Change in Unearned Revenue	-0.19	-6.52	-2.48	-1.8
Change in Other Net Operating Assets	-93	-61.07	68.29	17.35
Operating Cash Flow	-712.33	-597.53	-460.24	-447.42
Capital Expenditures	-150.84	-46.21	-107.7	-47.44
Sale of Property, Plant & Equipment	0.12	0.01	0.53	-
Cash Acquisitions	-	-50	92.84	-
Investment in Securities	-341.34	120.59	135.31	168.34
Other Investing Activities	-	-	-0.25	-
Investing Cash Flow	-492.06	24.39	120.73	120.9
Long-Term Debt Issued	-	319.12	262.07	30
Long-Term Debt Repaid	-	-225.13	-111.79	-15.06
Net Debt Issued (Repaid)	317.29	93.98	150.28	14.94
Issuance of Common Stock	1,200	1,025	589	265
Repurchase of Common Stock	-7.45	-1.96	-14.25	-
Other Financing Activities	-85.88	-16.41	-138.8	-1.71
Financing Cash Flow	1,424	1,101	586.23	278.23
Foreign Exchange Rate Adjustments	-0.52	-0.97	1.18	-0.02
Net Cash Flow	219.05	526.51	247.9	-48.31
Free Cash Flow	-863.16	-643.73	-567.94	-494.86
Free Cash Flow Margin	-176.98%	-136.13%	-246.80%	-985.19%
Free Cash Flow Per Share	-12.00	-8.95	-9.69	-10.10
Cash Interest Paid	19.06	16.31	4.52	1.71
Levered Free Cash Flow	-	777.26	1,047	-
Unlevered Free Cash Flow	-	793.59	1,050	-
Change in Working Capital	-238.89	-147.76	10.06	-44.07

Source: S&P Global Market Intelligence. Standard template. Financial Sources.