HKG:2126 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	-555.29	-590.62	-768	-846.14	-702.33
Depreciation & Amortization	76.21	83.67	93.77	81.37	46.33
Other Amortization	5.66	5.99	6.06	5.71	1.9
Loss (Gain) From Sale of Assets	0.07	-	0.93	0.17	0.12
Asset Writedown & Restructuring Costs	354.86	132.26	181.21	-	-
Stock-Based Compensation	4.45	37.31	34.97	82.5	89.37
Other Operating Activities	-28.63	27.77	49.45	164.76	-46.37
Change in Accounts Receivable	-	-	5.31	-5.31	-
Change in Inventory	-30.75	3.52	5.38	-8.76	-28.78
Change in Accounts Payable	59.28	-35.22	-41.95	-	-
Change in Unearned Revenue	16.45	-14.22	30.42	-	-
Change in Income Taxes	3.07	-	-	-	-
Change in Other Net Operating Assets	17.77	16.1	4.02	-11.03	78.57
Operating Cash Flow	-76.85	-333.44	-398.42	-536.72	-561.2
Capital Expenditures	-1.38	-5.22	-12.41	-76.87	-73.09
Sale of Property, Plant & Equipment	0.13	-	0.08	0.05	-
Sale (Purchase) of Intangibles	-0.23	-10.15	-2.17	-23.71	-64.04
Other Investing Activities	-	-0.06	24.4	-23.55	-
Investing Cash Flow	-1.49	-15.43	9.9	-124.08	-137.13
Long-Term Debt Issued	144.37	327.95	210	234.8	-
Long-Term Debt Repaid	-302.84	-225.71	-197.34	-115.75	-13.02
Net Debt Issued (Repaid)	-158.48	102.24	12.66	119.05	-13.02
Issuance of Common Stock	0.24	0.4	0.03	0.09	0.7
Other Financing Activities	-11.58	-12.16	-12.42	-6.79	-18.3
Financing Cash Flow	-169.82	90.49	0.28	112.35	-30.62
Foreign Exchange Rate Adjustments	-6.16	9.84	10.81	97.39	-67.25
Net Cash Flow	-254.31	-248.53	-377.43	-451.06	-796.2
Free Cash Flow	-78.23	-338.67	-410.83	-613.6	-634.29
Free Cash Flow Margin	-27.58%	-214.05%	-236.30%	-421.13%	-2059.57%
Free Cash Flow Per Share	-0.19	-0.82	-1.00	-1.50	-1.59
Cash Interest Paid	11.58	12.16	12.42	6.79	5.91
Cash Income Tax Paid	3.07	-	-	-	-
Levered Free Cash Flow	-16.52	-227.7	-218.11	-428.1	-575.04
Unlevered Free Cash Flow	-9.38	-220.06	-210.35	-423.86	-573.36
Change in Working Capital	65.82	-29.81	3.19	-25.1	49.79

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