HKG:1845 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	-63.15	-48.57	1.75	-72.35	-12.41
Depreciation & Amortization	24.98	23.7	16.44	16.73	15.82
Loss (Gain) From Sale of Assets	-0.09	0.52	0.25	0.29	-4.08
Asset Writedown & Restructuring Costs	31.75	28.77	-3.92	32.03	9.45
Loss (Gain) From Sale of Investments	-	-	-	-0.09	-0.02
Loss (Gain) on Equity Investments	-	-	0.18	0.13	0.12
Stock-Based Compensation	-	-	-	0.31	0.62
Provision & Write-off of Bad Debts	3.33	9.25	-7.71	14.45	8.68
Other Operating Activities	-0.71	-7.33	2.77	9.29	4.58
Change in Accounts Receivable	93.67	51.24	-11.88	65.98	33.05
Change in Inventory	2.45	-3.67	0.96	0.88	6.84
Change in Accounts Payable	-28.78	-22.62	45.49	-40.93	21.71
Change in Unearned Revenue	27.88	0.75	-2.3	-6.05	-91.17
Change in Other Net Operating Assets	-19.05	-24.84	-7.86	14.95	29.39
Operating Cash Flow	72.27	7.21	34.18	35.63	22.57
Operating Cash Flow Growth	902.97%	-78.92%	-4.07%	57.87%	-
Capital Expenditures	-46.48	-57.46	-33.55	-16.61	-47.27
Sale of Property, Plant & Equipment	8.49	0.65	0.15	0.05	-
Cash Acquisitions	-	-	9.03	-	-
Divestitures	-	-	-	-	1.52
Investment in Securities	-	-	-	-10.39	-18.68
Other Investing Activities	1.09	2.82	6.24	6.73	30.38
Investing Cash Flow	-36.89	-53.98	-18.13	-20.23	-34.07
Long-Term Debt Issued	43.68	61.35	32.9	37.27	42.96
Total Debt Issued	43.68	61.35	32.9	37.27	42.96
Long-Term Debt Repaid	-32.76	-35.58	-46.26	-50.72	-47.39
Total Debt Repaid	-32.76	-35.58	-46.26	-50.72	-47.39
Net Debt Issued (Repaid)	10.92	25.77	-13.36	-13.45	-4.42
Other Financing Activities	-0.27	-2.84	1.88	-2.1	-2.25
Financing Cash Flow	10.65	22.93	-11.48	-15.54	-6.68
Net Cash Flow	46.03	-23.85	4.57	-0.14	-18.17
Free Cash Flow	25.8	-50.25	0.63	19.02	-24.71
Free Cash Flow Growth	-	-	-96.70%	-	-
Free Cash Flow Margin	12.60%	-20.80%	0.25%	5.45%	-4.40%
Free Cash Flow Per Share	0.02	-0.04	-	0.01	-0.02
Cash Interest Paid	3.47	2.84	2.12	2.5	2.55
Cash Income Tax Paid	0.02	0.76	0.82	0.98	0.62
Levered Free Cash Flow	35.3	-40.11	27.15	35.73	2.64
Unlevered Free Cash Flow	37.47	-38.33	28.76	37.48	4.24
Change in Working Capital	76.17	0.86	24.41	34.84	-0.18

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