HKG:2271 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	31.5	38.07	49.35	50.82	38.99
Depreciation & Amortization	0.98	0.93	0.98	0.96	0.74
Loss (Gain) on Equity Investments	-0.03	0.02	-	-	-
Provision & Write-off of Bad Debts	26.51	7.97	3.85	2.66	0.33
Other Operating Activities	-0.12	2.48	11.45	7.68	-0.33
Change in Accounts Receivable	-109.47	-44.73	-30.98	-35.45	-6.98
Change in Inventory	-5.39	-0.5	-0.16	0.01	0.14
Change in Accounts Payable	5.77	22.66	0.27	0.84	-0.59
Change in Unearned Revenue	-0.91	1.57	11.64	-5.32	-1.17
Change in Other Net Operating Assets	69.54	-54.92	-45.06	-25.51	-2.96
Operating Cash Flow	18.37	-26.45	1.32	-3.3	28.18
Operating Cash Flow Growth	-	-	-	-	-69.10%
Capital Expenditures	-1.35	-0.84	-0.73	-0.58	-2.81
Sale (Purchase) of Intangibles	-	-	-0.07	-	-
Investment in Securities	-	-0.08	-	-	-
Other Investing Activities	-	-	-	0.24	44.76
Investing Cash Flow	-1.35	-0.92	-0.81	-0.34	41.95
Short-Term Debt Issued	-	-	-	3.49	56.83
Long-Term Debt Issued	29	-	-	-	-
Total Debt Issued	29	-	-	3.49	56.83
Short-Term Debt Repaid	-	-	-	-5.35	-58.33
Total Debt Repaid	-	-	-	-5.35	-58.33
Net Debt Issued (Repaid)	29	-	-	-1.86	-1.5
Issuance of Common Stock	-	-	148.26	-	90
Common Dividends Paid	-9.8	-12.71	-	-	-34.96
Other Financing Activities	-1.45	-0.04	-16.2	-	-204.65
Financing Cash Flow	17.75	-12.75	132.07	-1.86	-151.12
Net Cash Flow	34.77	-40.13	132.58	-5.5	-80.99
Free Cash Flow	17.02	-27.29	0.59	-3.88	25.37
Free Cash Flow Growth	-	-	-	-	-71.79%
Free Cash Flow Margin	3.60%	-6.62%	0.17%	-1.21%	8.58%
Free Cash Flow Per Share	0.03	-0.05	0.00	-0.01	0.07
Cash Interest Paid	1.21	-	-	-	-
Cash Income Tax Paid	12.26	14.89	8.52	9.76	17.85
Levered Free Cash Flow	20.44	-32.9	-6.43	-13.1	73.94
Unlevered Free Cash Flow	21.23	-32.9	-6.43	-13.1	73.94
Change in Working Capital	-40.47	-75.92	-64.29	-65.42	-11.56

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