HKG:1877 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	-1,281	-2,283	-2,386	-720.91
Depreciation & Amortization	298.65	315.4	293.65	248.98
Other Amortization	28.42	17.12	-	15.93
Loss (Gain) From Sale of Assets	-12.78	-29.41	-27.01	-0.81
Asset Writedown & Restructuring Costs	0.94	0.52	9.03	0.03
Loss (Gain) From Sale of Investments	71.23	75.19	-	-65.75
Loss (Gain) on Equity Investments	-	-	71.03	-
Stock-Based Compensation	-	-	91.91	-
Provision & Write-off of Bad Debts	-14.67	18.34	0.05	0.36
Other Operating Activities	-10.02	-178.56	-515.11	7.55
Change in Accounts Receivable	54.21	-314.42	971.48	-770.56
Change in Inventory	-159.27	-32.45	-136.39	-154.82
Change in Accounts Payable	-415.29	262.67	-479.57	702.33
Change in Unearned Revenue	-	-	1.05	-
Change in Other Net Operating Assets	-10.67	19.01	330.62	195.05
Operating Cash Flow	-1,434	-2,005	-1,775	-605.05
Capital Expenditures	-690.99	-832.57	-383.1	-901.77
Sale of Property, Plant & Equipment	1.87	4.1	0	0.01
Cash Acquisitions	-	-	2.22	-
Sale (Purchase) of Intangibles	-	-	-10.85	-
Investment in Securities	-247.76	-207.9	-104.24	-1,045
Other Investing Activities	44.1	103.19	28.35	28.95
Investing Cash Flow	-892.78	-933.19	-467.62	-1,918
Long-Term Debt Issued	2,307	977.1	840.36	500
Long-Term Debt Repaid	-1,214	-533.78	-154.26	-828.36
Net Debt Issued (Repaid)	1,093	443.32	686.1	-328.36
Issuance of Common Stock	-	152.59	3,812	2,122
Repurchase of Common Stock	-4	-26.89	-	-
Common Dividends Paid	-73.79	-38.23	-	-16.69
Other Financing Activities	7.81	181.03	144.64	889
Financing Cash Flow	1,023	711.83	4,643	2,666
Foreign Exchange Rate Adjustments	12.01	7.55	92.27	-23.23
Net Cash Flow	-1,291	-2,219	2,492	119.61
Free Cash Flow	-2,125	-2,838	-2,158	-1,507
Free Cash Flow Margin	-109.06%	-188.85%	-148.50%	-37.44%
Free Cash Flow Per Share	-2.16	-2.88	-2.35	-1.69
Cash Interest Paid	-	-	25.55	-
Cash Income Tax Paid	78.6	-65.42	107.13	-43.19
Levered Free Cash Flow	-1,104	-2,116	-1,310	-1,174
Unlevered Free Cash Flow	-1,072	-2,098	-1,292	-1,160
Change in Working Capital	-514.68	59.85	687.19	-90.44

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