HKG:1167 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	-145.98	-155.71	-359.12	-371.86	-301.19
Depreciation & Amortization	22.81	26.46	25.08	13.8	10.79
Loss (Gain) From Sale of Assets	-19.17	0.14	-0.63	-	-
Loss (Gain) From Sale of Investments	0.9	0.02	7.24	-4.19	-0.19
Loss (Gain) on Equity Investments	0.53	-	-	-	-
Stock-Based Compensation	4.48	9.96	14.86	16.99	19.45
Other Operating Activities	-0.98	-32.06	-38.48	-79.07	15.25
Change in Accounts Receivable	-1.16	1.66	5.69	79.07	89.03
Change in Accounts Payable	-72.59	36.77	-15.36	45.5	22.77
Change in Unearned Revenue	-0.41	-0.42	-0.42	-0.42	-3.24
Change in Other Net Operating Assets	0.53	39.06	-3.07	7.75	-0.16
Operating Cash Flow	-211.05	-74.12	-364.2	-292.42	-147.49
Capital Expenditures	-1.1	-12.09	-37.83	-16.44	-10.11
Sale of Property, Plant & Equipment	986.52	0.26	1.73	0.09	0.01
Sale (Purchase) of Intangibles	-0.57	-	-0.83	-0.06	-1.03
Investment in Securities	-1,127	217.47	-27.71	-667.47	178.76
Other Investing Activities	24.9	50.59	17.25	-2.43	-5.97
Investing Cash Flow	-117.42	256.22	-47.39	-686.32	161.67
Long-Term Debt Issued	114.87	87.7	73.62	-	-
Total Debt Issued	114.87	87.7	73.62	-	-
Long-Term Debt Repaid	-102.19	-100.28	-13.5	-7.6	-11.37
Total Debt Repaid	-102.19	-100.28	-13.5	-7.6	-11.37
Net Debt Issued (Repaid)	12.68	-12.58	60.12	-7.6	-11.37
Issuance of Common Stock	45	45	199.14	-	132.83
Repurchase of Common Stock	-11.28	-4.57	-5.68	-	-
Other Financing Activities	-5	-6.58	-7.91	-2.26	-12.41
Financing Cash Flow	41.41	21.28	245.66	-9.85	109.06
Foreign Exchange Rate Adjustments	-16.26	4.55	10.7	85.77	-26.44
Net Cash Flow	-303.32	207.94	-155.22	-902.83	96.79
Free Cash Flow	-212.15	-86.21	-402.03	-308.86	-157.6
Free Cash Flow Margin	-396.35%	-55.37%	-632.92%	-322.58%	-103.13%
Free Cash Flow Per Share	-0.27	-0.11	-0.52	-0.41	-0.21
Cash Interest Paid	5	6.58	7.91	2.26	0.51
Levered Free Cash Flow	-62.9	-51.68	-267.43	-158.82	-67.48
Unlevered Free Cash Flow	-54.82	-46.43	-262.23	-157.41	-67.12
Change in Working Capital	-73.63	77.07	-13.15	131.92	108.4

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