HKG:1278 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	73.3	44.32	140.86	2.72	108.58
Depreciation & Amortization	12.01	12.96	14.31	14.33	14.93
Loss (Gain) From Sale of Assets	-0.34	-0.01	0.02	0	-
Asset Writedown & Restructuring Costs	-	19.63	-1.46	-12.32	-9.79
Loss (Gain) From Sale of Investments	15.71	2.84	-44.44	-59.54	-44.57
Loss (Gain) on Equity Investments	8.08	31.77	12.35	9.29	7.76
Other Operating Activities	-136.83	-122.52	-75.14	-4.13	-23.32
Change in Accounts Receivable	7.57	12.22	2.67	-1.84	515.79
Change in Inventory	-0.15	-0.53	-0.82	-1.75	-1.1
Change in Accounts Payable	-51.75	58.19	0.07	-18.75	-78.38
Change in Unearned Revenue	-66.39	-49.96	5.11	9.03	-34.27
Change in Other Net Operating Assets	-28.99	22.13	-29.02	3.92	3.04
Operating Cash Flow	-177.22	29.88	-20.04	-33.92	422.71
Capital Expenditures	-0.64	-0.48	-0.46	-0.36	-0.17
Sale of Property, Plant & Equipment	0.01	0.02	-	-	0.03
Sale (Purchase) of Intangibles	-	-0.17	-0.03	-0.56	-
Sale (Purchase) of Real Estate	-1.52	-1.67	-5.23	-81.55	-6.23
Investment in Securities	-200.83	-495.85	-252.23	121.54	-263.5
Other Investing Activities	226.92	201.39	186.36	187.85	163.71
Investing Cash Flow	23.94	-296.75	-71.58	226.92	-106.16
Long-Term Debt Issued	1,495	643	1,512	45.62	245.51
Total Debt Issued	1,495	643	1,512	45.62	245.51
Long-Term Debt Repaid	-60.88	-668.9	-406.98	-82.85	-984.63
Total Debt Repaid	-60.88	-668.9	-406.98	-82.85	-984.63
Net Debt Issued (Repaid)	1,434	-25.9	1,105	-37.23	-739.12
Common Dividends Paid	-48.59	-30.06	-19.48	-	-0.01
Other Financing Activities	-81.47	-86.92	-43.59	-38.38	-46.58
Financing Cash Flow	1,304	-142.87	1,042	-75.62	-785.71
Foreign Exchange Rate Adjustments	-0.17	0.85	0.1	0.86	-0.07
Net Cash Flow	1,151	-408.89	950.11	118.25	-469.23
Free Cash Flow	-177.87	29.4	-20.5	-34.27	422.54
Free Cash Flow Margin	-42.67%	8.71%	-6.07%	-10.20%	154.75%
Free Cash Flow Per Share	-0.02	0.00	-0.00	-0.00	0.04
Cash Interest Paid	-	86.92	43.59	38.38	46.58
Cash Income Tax Paid	-	28.35	31.76	51.75	11.14
Levered Free Cash Flow	-78.11	82.52	-14.35	18.32	440.28
Unlevered Free Cash Flow	-19.11	141.52	42.65	46.21	472.13
Change in Working Capital	-139.71	42.05	-21.99	-9.39	405.09

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