HKG:1875 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	34.76	-37.76	-49.92	-261.22
Depreciation & Amortization	62.84	41.3	36.42	33.1
Other Amortization	2.58	1.73	1.62	1.14
Loss (Gain) From Sale of Assets	0.99	3.42	2.36	5
Asset Writedown & Restructuring Costs	-	7.15	-	-
Loss (Gain) From Sale of Investments	-	-0.94	-0.91	-
Loss (Gain) on Equity Investments	-	2.5	6.63	0.02
Stock-Based Compensation	6.01	10.64	16.11	5.3
Provision & Write-off of Bad Debts	1.05	-0.32	0.6	-
Other Operating Activities	0.83	16.97	6.47	2.47
Change in Accounts Receivable	-49.41	-82.55	-36.28	-20.23
Change in Inventory	17.35	-31.19	-65.26	-21.44
Change in Accounts Payable	-0.57	111.74	83.77	101.15
Change in Unearned Revenue	17.35	-7.5	-2.64	13.1
Change in Other Net Operating Assets	22.64	21.23	60.95	-33.51
Operating Cash Flow	116.4	56.43	59.93	-175.14
Operating Cash Flow Growth	106.28%	-5.84%	-	-
Capital Expenditures	-122.8	-197.28	-238.98	-112.28
Sale of Property, Plant & Equipment	0.96	0.48	1.88	0.02
Sale (Purchase) of Intangibles	-0.78	-5.92	-1.14	-3.03
Investment in Securities	0.11	38.62	-44.52	6.9
Investing Cash Flow	-122.51	-164.11	-282.76	-108.39
Long-Term Debt Issued	267.82	132.15	277.86	205.97
Total Debt Issued	267.82	132.15	277.86	205.97
Long-Term Debt Repaid	-219.43	-77.94	-198.2	-1.49
Total Debt Repaid	-219.43	-77.94	-198.2	-1.49
Net Debt Issued (Repaid)	48.4	54.21	79.66	204.47
Issuance of Common Stock	-	-	405.79	9.61
Other Financing Activities	-14.21	-15.99	-4.21	-2
Financing Cash Flow	34.18	38.23	481.24	212.08
Foreign Exchange Rate Adjustments	1.58	3.28	6.56	-1.28
Net Cash Flow	29.66	-66.17	264.96	-72.73
Free Cash Flow	-6.39	-140.85	-179.05	-287.42
Free Cash Flow Margin	-0.58%	-18.04%	-40.49%	-376.57%
Free Cash Flow Per Share	-0.01	-0.19	-0.28	-0.50
Cash Interest Paid	14.21	12.61	6.39	2
Cash Income Tax Paid	-	0	-	-
Levered Free Cash Flow	-50.79	-150.5	-194.28	-303.88
Unlevered Free Cash Flow	-44.61	-147.27	-190.15	-302.34
Change in Working Capital	7.35	11.73	40.55	39.06

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.