HKG:1911 Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-40.21	-179.02	-471.9	-429.9	1,624	1,038
Depreciation & Amortization, Total	36.85	51.03	60.7	68.66	77.91	69.4
Gain (Loss) On Sale of Investments	62.74	51.65	195.83	149.06	-894.58	-1,021
Stock-Based Compensation	24.52	38.79	61.43	113.48	62.7	67.97
Change in Accounts Receivable	133.06	127.03	398.92	-530.83	1,831	-1,757
Change in Accounts Payable	121.58	1,159	-1,279	203.44	-713.54	1,191
Change in Other Net Operating Assets	-387.31	-1,327	1,224	-369.95	-842.03	973.93
Other Operating Activities	-2.34	-43.97	210.84	77.87	-644.89	4.15
Operating Cash Flow	-76.85	42.96	790.71	-738.01	1,698	340.15
Capital Expenditures	-15.16	-16.05	-1.18	-4.05	-26.68	-7.76
Sale (Purchase) of Intangibles	-2.43	-3.5	-11.69	-47.48	-30.65	-31.08
Investment in Securities	26.28	-12.06	1,055	514.11	-1,584	-150.94
Other Investing Activities	-60.67	-12.71	74.88	36.53	38.49	254.34
Investing Cash Flow	-17.02	-33.7	1,128	327.83	-1,028	-521.37
Short-Term Debt Issued	-	-	-	-	-	125.07
Long-Term Debt Issued	-	-	160.88	915.73	2,839	293.36
Total Debt Issued	100	-	160.88	915.73	2,839	418.43
Short-Term Debt Repaid	-	-	-	-	-314.41	-
Long-Term Debt Repaid	-	-138.27	-2,476	-1,158	-610.03	-362.67
Total Debt Repaid	-131.21	-138.27	-2,476	-1,158	-924.44	-362.67
Net Debt Issued (Repaid)	-31.21	-138.27	-2,315	-242.57	1,914	55.76
Issuance of Common Stock	6.38	6.38	-	21.97	45.36	34.47
Repurchase of Common Stock	-	-	-	-83.01	-99.78	-147.87
Common Dividends Paid	-	-	-	-201.11	-197.32	-79.9
Other Financing Activities	278.72	268.77	-92.92	-114.37	-545.48	41.83
Financing Cash Flow	253.88	136.88	-2,408	-619.1	1,117	-95.7
Foreign Exchange Rate Adjustments	15.58	42.11	62.06	185.36	-51.93	-98.37
Net Cash Flow	175.59	188.23	-427.58	-843.92	1,735	-375.29
Free Cash Flow	-92.01	26.91	789.53	-742.06	1,671	332.39
Free Cash Flow Growth	-	-96.59%	-	-	402.75%	-
Free Cash Flow Margin	-9.38%	3.27%	109.21%	-54.61%	70.99%	12.23%
Free Cash Flow Per Share	-0.18	0.05	1.56	-1.46	3.17	0.64
Cash Interest Paid	3.99	3.59	50.27	92.79	72.85	10.5
Cash Income Tax Paid	63.02	74.17	108.59	109.96	125.41	82.38

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