HKG:1121 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	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-278.56	-277.41	-326.38	-167.04	9.22	-108.76
Depreciation & Amortization	45.91	44.1	23.78	12.79	9.63	16.6
Other Amortization	0.02	0.02	0.46	0.42	0.11	2.65
Loss (Gain) From Sale of Assets	0	0	0.05	-0.08	1.5	0.61
Asset Writedown & Restructuring Costs	3.81	3.81	6.89	-0.14	4.76	50.77
Loss (Gain) From Sale of Investments	0.32	0.32	-0.61	-0.14	-0.71	-
Stock-Based Compensation	122.4	122.4	177.64	119.61	6.03	15.89
Provision & Write-off of Bad Debts	-0.25	-0.25	0.34	-1.22	0.65	0.53
Other Operating Activities	48.43	13.85	11.95	9.27	3.18	7.75
Change in Accounts Receivable	11.27	11.27	-54.08	-12.02	-44.53	-0.2
Change in Inventory	12.75	12.75	31.95	-72.72	-68.15	-8.86
Change in Accounts Payable	-7.17	-7.17	-14.83	5.56	23.16	8.85
Change in Unearned Revenue	1.96	1.96	-11.31	11.82	20.81	-
Change in Other Net Operating Assets	23.77	23.77	-7.74	15.21	-28.71	11.58
Operating Cash Flow	-15.34	-50.58	-161.89	-78.7	-63.05	-2.59
Capital Expenditures	-29.44	-29.44	-92.32	-56.86	-106.24	-10.45
Sale of Property, Plant & Equipment	0	0	0.03	0.31	0.8	0.08
Sale (Purchase) of Real Estate	-	-	-	-	-10.85	-
Other Investing Activities	-55.55	1.62	-2.14	-4.26	2.52	0.05
Investing Cash Flow	-84.98	-27.82	-94.44	-60.81	-113.78	-10.31
Short-Term Debt Issued	-	100.2	115.2	91.33	133.6	148.14
Total Debt Issued	100.2	100.2	115.2	91.33	133.6	148.14
Short-Term Debt Repaid	-	-100.2	-106	-100.77	-163.3	-132.2
Long-Term Debt Repaid	-	-21.42	-4.7	-2.23	-0.77	-0.6
Total Debt Repaid	-121.62	-121.62	-110.7	-103	-164.07	-132.8
Net Debt Issued (Repaid)	-21.42	-21.42	4.5	-11.67	-30.47	15.34
Issuance of Common Stock	-	-	49.26	374.7	347.18	-
Repurchase of Common Stock	-1.81	-3.59	-4.33	-	-	-
Other Financing Activities	66.31	-7.38	-5.19	-4.59	-4.71	-5.91
Financing Cash Flow	43.09	-32.38	44.25	358.44	312	9.43
Net Cash Flow	-57.23	-110.78	-212.08	218.93	135.17	-3.48
Free Cash Flow	-44.78	-80.02	-254.21	-135.56	-169.3	-13.04
Free Cash Flow Margin	-23.68%	-31.56%	-86.07%	-49.42%	-54.00%	-11.65%
Free Cash Flow Per Share	-0.03	-0.04	-0.14	-0.08	-0.09	-0.01
Cash Interest Paid	7.38	7.38	5.19	4.59	4.71	5.91
Cash Income Tax Paid	1.94	1.94	4.5	1	1.3	0.5
Levered Free Cash Flow	43.9	10.49	-146.25	-141.23	-217.81	-7.7
Unlevered Free Cash Flow	49.31	15.58	-143.03	-138.47	-214.32	-4
Change in Working Capital	42.58	42.58	-56	-52.16	-97.42	11.37

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.