HKG:2190 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	244.37	100.26	-78.73	-113.56	-199.69
Depreciation & Amortization	37.53	37.85	35.88	26.27	13.38
Loss (Gain) From Sale of Assets	0.09	0.05	0.59	9.13	-0.02
Asset Writedown & Restructuring Costs	0.99	6.74	-	-	-
Loss (Gain) From Sale of Investments	0.63	36.25	8.53	-4.78	-13.93
Loss (Gain) on Equity Investments	-	1.1	-	-	-
Stock-Based Compensation	28.7	23.74	85.77	87.68	76.21
Other Operating Activities	3.15	-19.11	13.63	-23.52	5
Change in Accounts Receivable	-6.83	-0.35	-0.17	-0.57	-0.33
Change in Inventory	29.65	-38.93	-47.3	-61.97	-28.28
Change in Accounts Payable	40.17	24.94	36.39	36.76	44.55
Change in Other Net Operating Assets	6.42	1.55	43.86	-46.75	-13.11
Operating Cash Flow	384.86	174.08	98.44	-91.32	-116.21
Operating Cash Flow Growth	121.09%	76.83%	-	-	-
Capital Expenditures	-111.22	-191.34	-190.92	-134.74	-78.11
Sale of Property, Plant & Equipment	0.42	0.07	0.39	-	0.11
Sale (Purchase) of Intangibles	-	-	-	-10.55	-11.49
Investment in Securities	62.06	-617.81	-24.39	50.24	-1,239
Other Investing Activities	4.07	7.72	8.67	-	-
Investing Cash Flow	-44.68	-801.36	-206.24	-95.05	-1,328
Long-Term Debt Issued	139	87	50	-	5
Long-Term Debt Repaid	-169.5	-54.58	-6.41	-4.89	-39.2
Net Debt Issued (Repaid)	-30.5	32.42	43.59	-4.89	-34.2
Issuance of Common Stock	9.81	0.06	-	-	2,968
Repurchase of Common Stock	-119.6	-72.28	-53.8	-24.64	-9.15
Common Dividends Paid	-32.69	-	-	-	-
Other Financing Activities	-1.02	-2.18	-1.25	-0.72	-115.06
Financing Cash Flow	-174	-41.98	-11.46	-30.26	2,810
Foreign Exchange Rate Adjustments	-4.74	0.79	0.54	3.57	-6.46
Net Cash Flow	161.45	-668.47	-118.72	-213.06	1,359
Free Cash Flow	273.64	-17.26	-92.48	-226.06	-194.32
Free Cash Flow Margin	25.88%	-2.21%	-17.52%	-67.66%	-109.22%
Free Cash Flow Per Share	0.85	-0.05	-0.28	-0.68	-0.66
Cash Interest Paid	1.02	2.18	1.25	0.72	0.31
Levered Free Cash Flow	128.56	-153.23	-53.44	-226.74	-129.84
Unlevered Free Cash Flow	129.2	-151.87	-52.65	-226.29	-129.65
Change in Working Capital	69.41	-12.79	32.78	-72.54	2.83

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