HKG:2450 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	-17.08	-21.97	37.49	67.41	64.71	124.19
Depreciation & Amortization	86.72	68.55	60.63	61.38	51.69	57.64
Asset Writedown & Restructuring Costs	13.35	13.35	-	-	-	-
Provision & Write-off of Bad Debts	-0.19	-0.19	-19.2	-25.81	-6.08	33.02
Other Operating Activities	49.75	92.43	98.07	101.29	11.59	65.27
Change in Accounts Receivable	7.24	7.24	37.7	-12.96	52.33	11.37
Change in Inventory	1.43	1.43	1.66	-0.2	0.24	1.99
Change in Accounts Payable	11.86	11.86	-8.72	-39.4	67.7	-0.61
Change in Other Net Operating Assets	-0.41	-0.41	-0.36	3.52	2.66	-1.15
Operating Cash Flow	152.67	172.29	207.27	155.23	244.84	291.72
Operating Cash Flow Growth	10.56%	-16.88%	33.52%	-36.60%	-16.07%	76.98%
Capital Expenditures	-15.31	-5.53	-108.49	-296.99	-725.39	-28.46
Investment in Securities	-	-232.53	-	-	-	-
Other Investing Activities	34.23	34.23	173	-173	105	-104.97
Investing Cash Flow	18.92	-203.83	64.51	-469.99	-620.39	-133.43
Short-Term Debt Issued	-	-	207	-	244.47	20
Long-Term Debt Issued	-	1,360	-	-	1,521	69
Total Debt Issued	-	1,360	207	-	1,765	89
Short-Term Debt Repaid	-	-335.1	-	-	-27	-25.4
Long-Term Debt Repaid	-	-800.37	-100	-34.5	-643.87	-63.36
Total Debt Repaid	-130.31	-1,135	-100	-34.5	-670.87	-88.76
Net Debt Issued (Repaid)	-130.31	224.53	107	-34.5	1,094	0.24
Issuance of Common Stock	-	-	93.39	-	1.8	-
Common Dividends Paid	-15.39	-7.39	-	-	-153.52	-280.45
Other Financing Activities	-208.23	61.07	-443.47	-191.74	-46.92	2.65
Financing Cash Flow	-353.93	278.21	-243.08	-226.24	895.71	-277.56
Foreign Exchange Rate Adjustments	-	-	4.29	-	-	-
Net Cash Flow	-182.34	246.67	32.99	-540.99	520.17	-119.27
Free Cash Flow	137.36	166.76	98.78	-141.75	-480.54	263.26
Free Cash Flow Growth	77.94%	68.82%	-	-	-	-
Free Cash Flow Margin	54.35%	70.61%	33.99%	-34.77%	-129.76%	51.99%
Free Cash Flow Per Share	0.52	0.63	0.38	-0.72	-2.43	-
Cash Interest Paid	71.35	69.16	37.44	40.1	36.87	5.34
Cash Income Tax Paid	-	-14.17	-9.52	41.83	94.95	58.79
Levered Free Cash Flow	58.79	-334.77	-17.02	-210.58	-103.45	117.03
Unlevered Free Cash Flow	110.98	-281.54	21.8	-166.67	-69.93	119.8
Change in Working Capital	20.12	20.12	30.28	-49.04	122.94	11.6

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