HKG:1427 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	-123.88	-165.55	10.99	-347.35	41.81
Depreciation & Amortization	10.52	6.6	7.95	9.74	10.41
Loss (Gain) From Sale of Assets	-3.33	1.15	0.41	-0.11	-
Asset Writedown & Restructuring Costs	0.6	1.1	0.1	72.38	-
Loss (Gain) From Sale of Investments	1.24	2.91	20.29	115.53	36.82
Provision & Write-off of Bad Debts	22.65	66.61	-23.28	163.16	44.54
Other Operating Activities	133.59	87.87	75.7	10.78	32.82
Change in Accounts Receivable	-270.3	-240.7	-339.69	318.69	-218.06
Change in Inventory	175.57	140.18	170.93	58.52	-318.7
Change in Accounts Payable	-1.25	32.14	153.77	-377.58	152.7
Change in Other Net Operating Assets	316.28	103.72	-106.1	-189.56	66.28
Operating Cash Flow	261.68	36.01	-28.94	-165.79	-151.39
Operating Cash Flow Growth	626.66%	-	-	-	-
Capital Expenditures	-142.43	-38.51	-1.7	-0.25	-4.23
Sale of Property, Plant & Equipment	0.08	-	-	-	-
Divestitures	-22.36	-	-	-	-
Sale (Purchase) of Intangibles	-	-	-	-	-0.21
Investment in Securities	5.03	1.98	6.95	25.47	-65.35
Other Investing Activities	20.86	-26.58	11.09	22.01	-34.29
Investing Cash Flow	-138.82	-63.11	16.34	47.23	-104.07
Short-Term Debt Issued	-	-	-	30	33.33
Long-Term Debt Issued	698	557.4	806.62	774.28	751.47
Total Debt Issued	698	557.4	806.62	804.28	784.8
Short-Term Debt Repaid	-	-30	-30	-	-1.6
Long-Term Debt Repaid	-751.76	-406.07	-1,215	-898.88	-1,042
Total Debt Repaid	-751.76	-436.07	-1,245	-898.88	-1,043
Net Debt Issued (Repaid)	-53.76	121.33	-437.94	-94.6	-258.62
Issuance of Common Stock	-	-	483	260	630.71
Other Financing Activities	-60.59	-73.13	-71.46	-70.13	-57.09
Financing Cash Flow	-114.35	48.2	-26.4	95.28	315
Foreign Exchange Rate Adjustments	7.84	4.69	3.95	-2.49	5.29
Net Cash Flow	16.35	25.8	-35.05	-25.77	64.83
Free Cash Flow	119.25	-2.5	-30.64	-166.04	-155.62
Free Cash Flow Margin	7.03%	-0.12%	-1.13%	-8.63%	-5.37%
Free Cash Flow Per Share	0.14	-0.00	-0.04	-0.20	-0.20
Cash Interest Paid	60.59	73.13	71.46	70.13	57.09
Cash Income Tax Paid	-25.06	6.2	18.5	34.59	20.64
Levered Free Cash Flow	-54.06	-179.21	799.5	11.4	-171.55
Unlevered Free Cash Flow	-16.2	-133.48	844.19	55.69	-135.3
Change in Working Capital	220.29	35.34	-121.1	-189.93	-317.79

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