HKG:2126 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	-590.62	-768	-846.14	-702.33
Depreciation & Amortization	83.67	93.77	81.37	46.33
Other Amortization	5.99	6.06	5.71	1.9
Loss (Gain) From Sale of Assets	-	0.93	0.17	0.12
Asset Writedown & Restructuring Costs	132.26	181.21	-	-
Stock-Based Compensation	37.31	34.97	82.5	89.37
Other Operating Activities	27.77	49.45	164.76	-46.37
Change in Accounts Receivable	-35.22	-36.64	-5.31	-
Change in Inventory	3.52	5.38	-8.76	-28.78
Change in Unearned Revenue	-14.22	30.42	-	-
Change in Other Net Operating Assets	16.1	4.02	-11.03	78.57
Operating Cash Flow	-333.44	-398.42	-536.72	-561.2
Capital Expenditures	-5.22	-12.41	-76.87	-73.09
Sale of Property, Plant & Equipment	-	0.08	0.05	-
Sale (Purchase) of Intangibles	-10.15	-2.17	-23.71	-64.04
Other Investing Activities	-0.06	24.4	-23.55	-
Investing Cash Flow	-15.43	9.9	-124.08	-137.13
Long-Term Debt Issued	327.95	210	234.8	-
Long-Term Debt Repaid	-225.71	-197.34	-115.75	-13.02
Net Debt Issued (Repaid)	102.24	12.66	119.05	-13.02
Issuance of Common Stock	0.4	0.03	0.09	0.7
Other Financing Activities	-12.16	-12.42	-6.79	-18.3
Financing Cash Flow	90.49	0.28	112.35	-30.62
Foreign Exchange Rate Adjustments	9.84	10.81	97.39	-67.25
Net Cash Flow	-248.53	-377.43	-451.06	-796.2
Free Cash Flow	-338.67	-410.83	-613.6	-634.29
Free Cash Flow Margin	-214.05%	-236.30%	-421.13%	-2059.57%
Free Cash Flow Per Share	-0.82	-1.00	-1.50	-1.59
Cash Interest Paid	12.16	12.42	6.79	5.91
Levered Free Cash Flow	-227.7	-218.11	-428.1	-575.04
Unlevered Free Cash Flow	-220.06	-210.35	-423.86	-573.36
Change in Working Capital	-29.81	3.19	-25.1	49.79

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