HKG:1815 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	102.76	-23.19	-35	-25.6	0.07
Depreciation & Amortization	3.99	6.78	8.9	8.52	10.88
Other Amortization	-	0.77	0.78	0.77	-
Loss (Gain) From Sale of Assets	-41.25	-	-	-	-
Asset Writedown & Restructuring Costs	2.72	-	-	0.57	1.42
Loss (Gain) on Equity Investments	0.18	-	0.03	-	-
Stock-Based Compensation	56.46	-	-	-	-
Provision & Write-off of Bad Debts	-0.15	30.36	13.99	1.55	-8.73
Other Operating Activities	-19.71	32.72	18.99	-5	2.88
Change in Accounts Receivable	-36.38	-7.92	-35.74	176.44	38.94
Change in Inventory	-0.41	6.49	13.14	-15.06	-314.69
Change in Accounts Payable	76.41	18.59	-12.34	-70.46	-46.9
Change in Unearned Revenue	-1.65	1.99	-1.73	2.68	-3.52
Change in Other Net Operating Assets	-	-	-	-0.06	0.09
Operating Cash Flow	184.24	30.29	-56.5	74.35	-319.56
Operating Cash Flow Growth	508.20%	-	-	-	-
Capital Expenditures	-7.79	-1.25	-1.45	-0.76	-
Cash Acquisitions	-31.19	-2.49	-	1.4	-
Divestitures	-0.17	-	-	-	-
Sale (Purchase) of Intangibles	-40.88	-5	-	-	-30.88
Investment in Securities	-3.38	-	-0.04	-	-
Other Investing Activities	9.33	-13.23	-3.35	1.03	25.71
Investing Cash Flow	-74.08	-21.96	-4.83	1.67	-5.17
Short-Term Debt Issued	123.03	99.3	103.06	105.73	-
Total Debt Issued	123.03	99.3	103.06	105.73	-
Short-Term Debt Repaid	-89	-89.8	-87.18	-10.42	-10.18
Long-Term Debt Repaid	-0.34	-1.69	-4.11	-4.12	-4.81
Total Debt Repaid	-89.34	-91.49	-91.29	-14.54	-14.99
Net Debt Issued (Repaid)	33.68	7.81	11.77	91.2	-14.99
Issuance of Common Stock	39.09	-	-	-	-
Other Financing Activities	-4.53	-5.89	-6.15	-4.66	-0.46
Financing Cash Flow	68.24	1.92	5.62	86.54	-15.44
Foreign Exchange Rate Adjustments	-	-0.47	-	-	-
Net Cash Flow	178.39	9.78	-55.7	162.57	-340.18
Free Cash Flow	176.44	29.05	-57.94	73.6	-319.56
Free Cash Flow Growth	507.46%	-	-	-	-
Free Cash Flow Margin	36.23%	18.43%	-14.12%	4.11%	-87.75%
Free Cash Flow Per Share	0.14	0.02	-0.05	0.06	-0.26
Cash Interest Paid	4.53	5.89	6.15	4.66	0.46
Cash Income Tax Paid	19.1	-	-0.21	0.72	4.77
Levered Free Cash Flow	67.03	63.81	-30.76	84.84	-344.44
Unlevered Free Cash Flow	69.86	67.2	-27.28	87.75	-344.16
Change in Working Capital	37.99	19.15	-36.67	93.55	-326.08

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