HKG:2023 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	51.3	43.58	22.32	35.5
Depreciation & Amortization	13.61	15.99	16.5	17.63
Other Amortization	0.1	0.1	0.07	0.07
Loss (Gain) From Sale of Assets	0.08	0.05	0.01	0.14
Asset Writedown & Restructuring Costs	-	-	-0.09	-0.1
Loss (Gain) From Sale of Investments	3.42	5.13	-0.79	5.39
Loss (Gain) on Equity Investments	-0.41	-0.13	-0.2	1.5
Provision & Write-off of Bad Debts	5.22	-0.29	5.06	3.88
Other Operating Activities	6.84	13.4	7.82	-19.78
Change in Accounts Receivable	-148.69	-118.01	-15.77	-27.7
Change in Inventory	-9.09	1.14	6.94	11.8
Change in Accounts Payable	269.3	69.06	-0.01	-21.89
Operating Cash Flow	191.69	30.01	41.86	6.44
Operating Cash Flow Growth	538.85%	-28.33%	550.47%	-52.63%
Capital Expenditures	-69.09	-109.17	-161.78	-130.9
Sale of Property, Plant & Equipment	0.03	0.03	0	0.03
Cash Acquisitions	-	-3.9	-	-
Sale (Purchase) of Intangibles	-0.08	-1.06	-0.53	-
Investment in Securities	-	-	-1	0.2
Other Investing Activities	-64.03	-25.84	5.76	20.51
Investing Cash Flow	-133.17	-139.95	-157.54	-110.16
Short-Term Debt Issued	268.14	77.75	78.58	180.01
Long-Term Debt Issued	354.34	218.96	638.15	440.26
Total Debt Issued	622.48	296.71	716.73	620.27
Short-Term Debt Repaid	-196.73	-17.17	-145.65	-213.62
Long-Term Debt Repaid	-436.9	-155.99	-411.56	-330.61
Total Debt Repaid	-633.63	-173.16	-557.21	-544.22
Net Debt Issued (Repaid)	-11.15	123.55	159.52	76.05
Other Financing Activities	-33.49	-29.33	-17.5	-7.43
Financing Cash Flow	-44.65	94.22	142.02	68.61
Foreign Exchange Rate Adjustments	-13.36	-3.48	0.19	5.66
Net Cash Flow	0.51	-19.21	26.53	-29.45
Free Cash Flow	122.6	-79.17	-119.92	-124.46
Free Cash Flow Margin	13.52%	-11.22%	-22.43%	-26.13%
Free Cash Flow Per Share	0.25	-0.16	-0.24	-0.25
Cash Interest Paid	33.49	29.33	17.5	7.43
Cash Income Tax Paid	8.26	2.33	5.8	7.04
Levered Free Cash Flow	133.3	-76.79	-208.2	-145.65
Unlevered Free Cash Flow	138.72	-69.64	-199.67	-134.73
Change in Working Capital	111.53	-47.81	-8.84	-37.79

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.