HKG:1901 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	-42.05	-9.58	-39.5	-137.48
Depreciation & Amortization	16.28	16.09	12.33	7.01
Other Amortization	1.05	0.52	0.01	0.01
Loss (Gain) From Sale of Assets	-	-2.15	2.81	0.08
Asset Writedown & Restructuring Costs	5.75	1.76	-0.21	2.23
Loss (Gain) From Sale of Investments	1.46	0.93	10.05	-0.92
Loss (Gain) on Equity Investments	0.76	1.63	1.65	2.32
Provision & Write-off of Bad Debts	-12.99	17.76	-7.44	-
Other Operating Activities	58.74	11.4	7.75	11.73
Change in Accounts Receivable	126.67	-207.36	2.06	17.91
Change in Inventory	0.71	-0.43	-4.82	-
Change in Accounts Payable	-106.06	122.47	5.28	-0.99
Change in Unearned Revenue	-25.14	78.79	9.02	-23.96
Change in Other Net Operating Assets	-112.29	-19.58	-39.96	97.71
Operating Cash Flow	-87.11	12.24	-40.99	-24.37
Capital Expenditures	-1.09	-3.43	-32.51	-7.53
Sale of Property, Plant & Equipment	-	10.1	3.08	0.6
Sale (Purchase) of Intangibles	-	-3.11	-	-
Investment in Securities	55.31	5.46	-9.04	-13.75
Other Investing Activities	0.64	6.51	-5.15	11.67
Investing Cash Flow	54.86	15.54	-43.62	-9
Short-Term Debt Issued	197.46	194.86	198.66	431.34
Long-Term Debt Issued	-	-	-	5
Total Debt Issued	197.46	194.86	198.66	436.34
Short-Term Debt Repaid	-194.86	-198.66	-203.72	-419.84
Long-Term Debt Repaid	-5.77	-6.28	-5.3	-5.63
Total Debt Repaid	-200.62	-204.94	-209.02	-425.47
Net Debt Issued (Repaid)	-3.16	-10.08	-10.37	10.87
Issuance of Common Stock	-	35.67	-	55.67
Other Financing Activities	-6.64	-10.16	76.7	-11.62
Financing Cash Flow	-9.81	15.43	66.33	54.92
Foreign Exchange Rate Adjustments	22.25	-30.5	18.99	-0.56
Net Cash Flow	-19.81	12.71	0.7	20.99
Free Cash Flow	-88.2	8.82	-73.5	-31.9
Free Cash Flow Margin	-12.32%	1.65%	-96.11%	-41.17%
Free Cash Flow Per Share	-0.11	0.01	-0.10	-0.06
Cash Interest Paid	9.14	10.18	7.44	11.62
Cash Income Tax Paid	-0.58	0.09	-0.04	0.34
Levered Free Cash Flow	-54.72	-1.7	-73.85	59.3
Unlevered Free Cash Flow	-48.5	5.07	-68.63	66.53
Change in Working Capital	-116.12	-26.12	-28.42	90.67

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