HKG:2337 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	-2.37	67.79	39.49	16.53	176.62
Depreciation & Amortization	61.09	62.8	71.7	77.47	75.77
Loss (Gain) From Sale of Assets	-0.9	0.77	-1.46	0.1	-1.18
Loss (Gain) on Equity Investments	-1.17	-1.2	15.14	13.82	-1
Other Operating Activities	16.38	14.58	12.7	0.46	55.25
Change in Accounts Receivable	60.58	-61.37	33.74	-29.65	0.9
Change in Inventory	-4.93	45.08	-50.28	-56.24	31.95
Change in Accounts Payable	4.58	-24.41	-36.52	-50.05	23.81
Change in Other Net Operating Assets	-121.06	-85.15	-49.7	121.08	-299.1
Operating Cash Flow	12.2	18.88	34.8	93.52	63.01
Operating Cash Flow Growth	-35.40%	-45.74%	-62.79%	48.42%	-65.45%
Capital Expenditures	-13.7	-15.21	-48.22	-12.14	-23.8
Sale of Property, Plant & Equipment	5.4	7.06	4.74	0.3	10.12
Divestitures	0.7	-	0.52	-	-
Other Investing Activities	2.52	1.02	1.19	0.66	0.41
Investing Cash Flow	-5.08	-7.13	-41.77	-11.18	-13.27
Long-Term Debt Issued	664.32	451.02	404.78	262.3	204
Total Debt Issued	664.32	451.02	404.78	262.3	204
Short-Term Debt Repaid	-	-	-	-	-51.98
Long-Term Debt Repaid	-457.88	-380.1	-345.86	-262.96	-203.9
Total Debt Repaid	-457.88	-380.1	-345.86	-262.96	-255.88
Net Debt Issued (Repaid)	206.45	70.91	58.92	-0.66	-51.88
Common Dividends Paid	-13.87	-27.36	-	-8.18	-16.83
Other Financing Activities	-79.77	-31.49	-65.83	-67.42	-38.58
Financing Cash Flow	112.81	12.07	-6.92	-76.25	-107.29
Foreign Exchange Rate Adjustments	-0.16	-0.07	0.11	0.63	-0.49
Net Cash Flow	119.76	23.76	-13.78	6.72	-58.04
Free Cash Flow	-1.5	3.68	-13.42	81.39	39.22
Free Cash Flow Growth	-	-	-	107.53%	-71.75%
Free Cash Flow Margin	-0.02%	0.05%	-0.18%	1.34%	0.67%
Free Cash Flow Per Share	-0.00	0.01	-0.04	0.22	0.10
Cash Interest Paid	8.13	29.42	33.73	37.18	17.38
Cash Income Tax Paid	39.95	40.66	45.09	55.49	61.74
Levered Free Cash Flow	63.46	-31.47	-36.63	51.97	-22.59
Unlevered Free Cash Flow	78.84	-12.89	-15.14	74.64	3.6
Change in Working Capital	-60.83	-125.86	-102.76	-14.85	-242.44

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