HKG:2515 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	-48.54	21.75	41.05	35.09	41.41
Depreciation & Amortization	5.23	4.72	4.09	3.26	3.25
Loss (Gain) From Sale of Assets	0.08	-	-	-0.08	-
Asset Writedown & Restructuring Costs	0.45	-	-	-	-
Provision & Write-off of Bad Debts	20.84	14.34	8.08	7.52	3.69
Other Operating Activities	6.9	-4.21	-3.8	-0.45	5.4
Change in Accounts Receivable	37.1	-151.99	-132.18	-128.93	-142.69
Change in Inventory	0.55	-1.49	-0.09	-0.02	-0.14
Change in Accounts Payable	17.89	23.02	44.32	90.66	89.03
Change in Unearned Revenue	2	0.17	0	0.38	-1.58
Change in Other Net Operating Assets	-6.86	-9.38	5	3.68	12.77
Operating Cash Flow	35.63	-103.07	-33.6	11.15	11.17
Operating Cash Flow Growth	-	-	-	-0.15%	60.19%
Capital Expenditures	-3.21	-2.93	-1.44	-8.34	-3.5
Sale of Property, Plant & Equipment	-	-	-	0.08	-
Other Investing Activities	-2	0.71	10.74	9.01	-9.17
Investing Cash Flow	-5.21	-2.22	9.3	0.75	-12.67
Short-Term Debt Issued	15	40	30	32.11	0.05
Long-Term Debt Issued	-	-	-	0.18	5.44
Total Debt Issued	15	40	30	32.29	5.49
Short-Term Debt Repaid	-46.5	-20	-10.21	-32.22	-0
Long-Term Debt Repaid	-0.83	-0.96	-5.45	-0.84	-5.88
Total Debt Repaid	-47.33	-20.96	-15.66	-33.06	-5.88
Net Debt Issued (Repaid)	-32.33	19.04	14.34	-0.77	-0.38
Issuance of Common Stock	-	122.31	10	-	1
Other Financing Activities	8.25	-22.95	-13.82	-2.24	-
Financing Cash Flow	-24.07	118.41	10.52	-3.01	0.62
Foreign Exchange Rate Adjustments	0	0.06	-	-	-
Net Cash Flow	6.34	13.18	-13.78	8.89	-0.89
Free Cash Flow	32.41	-106	-35.04	2.81	7.67
Free Cash Flow Growth	-	-	-	-63.40%	-
Free Cash Flow Margin	13.26%	-35.04%	-10.97%	0.97%	2.79%
Free Cash Flow Per Share	0.15	-0.53	-0.23	0.02	0.05
Cash Interest Paid	0.75	1.63	0.37	-	-
Cash Income Tax Paid	3.45	7.7	6.87	6.58	0.38
Levered Free Cash Flow	50.02	-93.32	-46.94	-0.89	-34.39
Unlevered Free Cash Flow	50.49	-92.3	-46.71	-0.89	-34.39
Change in Working Capital	50.67	-139.67	-82.95	-34.23	-42.61

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