HKG:2526 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-67.14	-43.38	-56.12
Depreciation & Amortization	10.9	13.63	7.51
Other Amortization	0.12	-	-
Loss (Gain) From Sale of Assets	-2.2	-0.18	0.08
Loss (Gain) From Sale of Investments	9.57	2.07	1.01
Loss (Gain) on Equity Investments	-0.03	0.1	0
Stock-Based Compensation	0.06	0.1	6.44
Other Operating Activities	0.3	19.2	14.85
Change in Accounts Receivable	-28.52	-28.09	-1.02
Change in Inventory	-0.51	4.2	-2.44
Change in Accounts Payable	15.08	4.19	-0.28
Change in Other Net Operating Assets	11.83	-1.61	-17.43
Operating Cash Flow	-50.54	-29.78	-47.4
Capital Expenditures	-7.47	-24.2	-24.22
Sale of Property, Plant & Equipment	-	0.24	-
Divestitures	-0.11	-	-
Sale (Purchase) of Intangibles	-0.16	-1.05	-
Investment in Securities	9.84	23.66	-92.84
Other Investing Activities	-	21	-
Investing Cash Flow	2.1	19.66	-117.06
Short-Term Debt Issued	-	10	-
Total Debt Issued	-	10	-
Short-Term Debt Repaid	-10	-	-
Long-Term Debt Repaid	-1.83	-2.73	-2.2
Total Debt Repaid	-11.83	-2.73	-2.2
Net Debt Issued (Repaid)	-11.83	7.28	-2.2
Issuance of Common Stock	60	-	170.15
Other Financing Activities	-3.97	-0.47	-3.97
Financing Cash Flow	44.2	6.81	163.98
Net Cash Flow	-4.23	-3.32	-0.47
Free Cash Flow	-58	-53.98	-71.61
Free Cash Flow Margin	-35.28%	-76.72%	-135.52%
Free Cash Flow Per Share	-0.72	-0.68	-0.94
Cash Interest Paid	0.55	0.47	0.26
Cash Income Tax Paid	-	0.03	-
Levered Free Cash Flow	-49.35	-63.77	-
Unlevered Free Cash Flow	-48.99	-50.52	-
Change in Working Capital	-2.12	-21.31	-21.17