HKG:1851 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	162.57	153.21	148.03	85.01	38.68
Depreciation & Amortization	51.05	45.88	44.31	38.03	34.45
Other Amortization	0.98	0.61	0.5	0.45	0.42
Loss (Gain) From Sale of Assets	0.13	0.01	0.07	0.08	0.1
Loss (Gain) From Sale of Investments	-0.16	-	-	-	-
Other Operating Activities	8.17	3.19	14.08	24.08	10.99
Change in Accounts Receivable	0.5	-0.19	11.54	-12.93	-0.09
Change in Inventory	0.27	0.09	-0.14	-0.75	0.03
Change in Unearned Revenue	17.24	3.67	21.64	46.65	27.98
Change in Other Net Operating Assets	-29.36	-0.76	-2.66	31.38	6.81
Operating Cash Flow	211.4	205.69	237.36	212	119.35
Operating Cash Flow Growth	2.78%	-13.34%	11.96%	77.62%	51.92%
Capital Expenditures	-89.55	-106.67	-139.69	-153.17	-80.26
Sale of Property, Plant & Equipment	0.01	0.01	0.01	0	-
Sale (Purchase) of Intangibles	-4.07	-1.52	-1.31	-0.2	-1.39
Investment in Securities	-47.02	-	-	-	-
Other Investing Activities	-	-	-	-	5
Investing Cash Flow	-140.64	-108.18	-140.99	-153.37	-76.66
Long-Term Debt Issued	13	40	374.79	106.75	48.63
Total Debt Issued	13	40	374.79	106.75	48.63
Long-Term Debt Repaid	-143.56	-70.53	-436.13	-95.15	-59.61
Total Debt Repaid	-143.56	-70.53	-436.13	-95.15	-59.61
Net Debt Issued (Repaid)	-130.56	-30.53	-61.34	11.6	-10.98
Other Financing Activities	-7.58	-11.24	-20.41	-31.27	-26.77
Financing Cash Flow	-138.14	-41.77	-81.75	-19.67	-37.75
Foreign Exchange Rate Adjustments	-0.84	0.27	1.25	4.59	-1.17
Net Cash Flow	-68.22	56.01	15.86	43.55	3.78
Free Cash Flow	121.85	99.02	97.67	58.82	39.09
Free Cash Flow Growth	23.05%	1.39%	66.04%	50.49%	-
Free Cash Flow Margin	30.41%	26.57%	27.52%	20.55%	17.24%
Free Cash Flow Per Share	0.24	0.20	0.20	0.12	0.08
Cash Interest Paid	7.58	11.24	20.41	31.27	26.77
Cash Income Tax Paid	0.49	0.64	0.8	0.5	0.5
Levered Free Cash Flow	35.81	44.75	-24.76	35.67	-20.9
Unlevered Free Cash Flow	40.4	46.93	-15	53.87	-14.9
Change in Working Capital	-11.35	2.8	30.37	64.36	34.72

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