HKG:1938 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	246.31	212.67	183.78	163.03	-94.35
Depreciation & Amortization	83.74	81.02	41.54	75.86	78.14
Loss (Gain) From Sale of Assets	-79.52	0.36	-1.12	-1.75	290.48
Asset Writedown & Restructuring Costs	9.45	9.79	2	8.23	613.84
Loss (Gain) From Sale of Investments	-	-	-73.79	-	-
Loss (Gain) on Equity Investments	-	-	-	-	15.02
Provision & Write-off of Bad Debts	20.87	12.66	66.72	24.23	7.18
Other Operating Activities	-167.9	-84.86	-45.83	-189.3	-1,026
Change in Accounts Receivable	-120.59	-72.44	0.19	100.03	1.25
Change in Inventory	493.69	-19.61	5.55	441.86	-223.13
Change in Accounts Payable	-24.29	155.76	306.52	-653.57	675.12
Change in Unearned Revenue	-399.42	-3.26	-169.92	-353.05	-10.92
Change in Other Net Operating Assets	91.79	-86.22	115.43	538.5	-1,231
Operating Cash Flow	154.12	205.87	431.07	154.07	-904.63
Operating Cash Flow Growth	-25.14%	-52.24%	179.79%	-	-
Capital Expenditures	-30.92	-62.33	-96.26	-13.31	-37.8
Sale of Property, Plant & Equipment	8.47	1.32	2.05	57.72	51.4
Divestitures	0.3	-	-	-	8.51
Investment in Securities	-	-	34.68	-	-
Other Investing Activities	17.96	5.19	50.86	-6.24	2,540
Investing Cash Flow	-4.19	-55.82	-8.68	38.17	2,562
Long-Term Debt Issued	734.93	798.28	658.25	529.6	2,435
Total Debt Issued	734.93	798.28	658.25	529.6	2,435
Long-Term Debt Repaid	-839.03	-823.63	-929.79	-634.11	-4,000
Total Debt Repaid	-839.03	-823.63	-929.79	-634.11	-4,000
Net Debt Issued (Repaid)	-104.1	-25.36	-271.54	-104.52	-1,565
Other Financing Activities	-93.55	-53.11	-94.5	-44.59	-144.14
Financing Cash Flow	-197.65	-78.47	-366.03	-149.1	-1,709
Foreign Exchange Rate Adjustments	15.85	-50.45	-40.29	-47.6	52.94
Net Cash Flow	-31.87	21.13	16.06	-4.46	1.12
Free Cash Flow	123.2	143.54	334.81	140.76	-942.43
Free Cash Flow Growth	-14.17%	-57.13%	137.86%	-	-
Free Cash Flow Margin	5.24%	4.88%	12.63%	5.96%	-51.97%
Free Cash Flow Per Share	0.12	0.14	0.33	0.14	-0.93
Cash Interest Paid	93.58	53.19	94.55	44.64	144.25
Cash Income Tax Paid	142.91	80.71	0.15	0.34	0.03
Levered Free Cash Flow	-169.91	313.8	437.38	-149.29	-352.44
Unlevered Free Cash Flow	-111.43	382.68	496.47	-121.39	-262.29
Change in Working Capital	41.18	-25.78	257.77	73.77	-788.54

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