HKG:0865 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-7.05	-40.59	4.51	31.32	1.3
Depreciation & Amortization	0.37	0.66	1.12	1.75	1.89
Asset Writedown & Restructuring Costs	1.64	11.19	-0.11	2.9	1.27
Other Operating Activities	-7.77	19.54	5.98	-0.89	-9.35
Change in Accounts Receivable	-10.54	1.47	9.26	49.53	-36.41
Change in Inventory	91	7.25	158.19	-78.51	-192.44
Change in Accounts Payable	-30.81	5.16	-42.97	-27.45	35
Change in Unearned Revenue	-19.15	-9.76	-123.32	-102.36	205.98
Change in Other Net Operating Assets	9.68	-1.98	-0.51	-6.25	7.8
Operating Cash Flow	27.36	-7.06	12.16	-129.96	15.04
Capital Expenditures	-0.01	-0.11	-0.11	-0.38	-0.52
Sale (Purchase) of Real Estate	8.8	4.18	7.58	8.84	10.07
Other Investing Activities	2.07	2.73	2.05	2.48	3.61
Investing Cash Flow	10.85	6.8	9.52	10.93	13.16
Short-Term Debt Issued	3	5.08	1.36	27.18	14.3
Long-Term Debt Issued	-	-	20	-	40
Total Debt Issued	3	5.08	21.36	27.18	54.3
Long-Term Debt Repaid	-0.19	-36.11	-20.26	-4.26	-0.55
Total Debt Repaid	-0.19	-36.11	-20.26	-4.26	-0.55
Net Debt Issued (Repaid)	2.81	-31.03	1.1	22.93	53.75
Other Financing Activities	-10.9	-56.31	-3.04	-1.92	-0.83
Financing Cash Flow	-8.09	-87.33	-1.94	21.01	52.92
Foreign Exchange Rate Adjustments	0.09	-0.1	0.22	0.33	-
Net Cash Flow	30.21	-87.7	19.96	-97.69	81.13
Free Cash Flow	27.35	-7.17	12.05	-130.34	14.53
Free Cash Flow Margin	29.96%	-9.34%	4.33%	-49.72%	13.75%
Free Cash Flow Per Share	0.01	-0.00	0.00	-0.02	0.00
Cash Interest Paid	-	1.19	2.93	1.82	0.83
Cash Income Tax Paid	5.94	0.65	3.3	19.53	11.35
Levered Free Cash Flow	32.63	32.64	10.7	-127.72	32.18
Unlevered Free Cash Flow	32.63	32.65	10.71	-127.72	32.2
Change in Working Capital	40.17	2.14	0.66	-165.04	19.93