HKG:2512 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
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
Net Income	14.46	12.09	13.92	8.03	12.69
Depreciation & Amortization	7.92	6.28	3.43	1.88	1.37
Other Amortization	0.3	0.3	0.2	0.08	0.01
Loss (Gain) From Sale of Assets	0.01	0.02	-0.04	-0.22	0.06
Provision & Write-off of Bad Debts	0.04	0.69	4.16	0.47	-0.11
Other Operating Activities	2.81	7.19	4.62	-1.49	3.11
Change in Accounts Receivable	21.83	-38.57	-83.68	-17.97	-15.81
Change in Inventory	-0.77	-0.13	-	-	-
Change in Accounts Payable	24.55	-44.54	72.83	19.37	71.64
Change in Unearned Revenue	-0.5	0.16	-1.77	1.72	-2.08
Change in Other Net Operating Assets	34.76	-181.46	20.25	4.68	-2.6
Operating Cash Flow	105.4	-237.99	33.92	16.55	68.28
Operating Cash Flow Growth	-	-	104.88%	-75.75%	-
Capital Expenditures	-15.65	-16.92	-12.71	-8.27	-5.68
Sale of Property, Plant & Equipment	0.01	0.01	0.11	1.11	0.06
Sale (Purchase) of Intangibles	-0.14	-0.36	-0.18	-0.23	-0.03
Other Investing Activities	61.52	32.81	-108.55	0	0.3
Investing Cash Flow	45.73	15.54	-121.32	-7.39	-5.35
Short-Term Debt Issued	-	411.98	263	100.5	84.17
Total Debt Issued	413.98	411.98	263	100.5	84.17
Short-Term Debt Repaid	-	-315.98	-163	-75.5	-69.74
Long-Term Debt Repaid	-	-0.58	-0.73	-0.19	-0.65
Total Debt Repaid	-366.45	-316.55	-163.73	-75.69	-70.38
Net Debt Issued (Repaid)	47.53	95.42	99.27	24.81	13.78
Issuance of Common Stock	-	344.48	-	-	-
Common Dividends Paid	-	-	-30	-	-
Other Financing Activities	-3.64	-15.13	102.49	-3	-30.6
Financing Cash Flow	32.2	424.78	171.76	21.82	-16.82
Foreign Exchange Rate Adjustments	0.09	6.35	-	-	-
Net Cash Flow	183.42	208.68	84.36	30.98	46.11
Free Cash Flow	89.74	-254.91	21.21	8.28	62.6
Free Cash Flow Growth	-	-	155.99%	-86.77%	-
Free Cash Flow Margin	12.05%	-36.02%	3.05%	1.51%	13.48%
Free Cash Flow Per Share	0.20	-0.60	0.06	-	-
Cash Interest Paid	9.54	8.43	4.22	2.42	2.24
Cash Income Tax Paid	2.11	0.18	0.11	3.48	1.23
Levered Free Cash Flow	81.8	-259.64	61.65	-2.52	-
Unlevered Free Cash Flow	87.49	-254.29	64.14	-1.04	-
Change in Working Capital	79.86	-264.55	7.62	7.8	51.16

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