HKG:2531 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	44.67	44.44	51.13	44.15	31.83
Depreciation & Amortization	7.1	7.1	8.04	7.39	4.95
Other Amortization	8.49	8.49	5.82	3.46	1.98
Loss (Gain) From Sale of Assets	-0.08	-0.08	0.13	0.21	0.06
Loss (Gain) From Sale of Investments	-0.53	-0.53	-9.64	-8.37	-0.32
Loss (Gain) on Equity Investments	-3.78	-3.78	-0.17	-	0.06
Provision & Write-off of Bad Debts	3.36	3.36	1.32	0.51	0.11
Other Operating Activities	-17.18	-12.56	-0.09	6.63	2.7
Change in Accounts Receivable	-32.9	-32.9	-7.01	-21.28	50.47
Change in Inventory	6.23	6.23	4.76	-2.97	-1.13
Change in Accounts Payable	55.37	55.37	-20.07	37.71	-17.63
Change in Unearned Revenue	-2.44	-2.44	-35.49	-29.93	-14.81
Change in Other Net Operating Assets	-27.46	-27.46	27.38	-7.22	-0.68
Operating Cash Flow	40.86	45.25	26.12	30.28	57.59
Operating Cash Flow Growth	568.72%	73.26%	-13.74%	-47.42%	-
Capital Expenditures	5.76	-4.49	-1.57	-5.57	-7.99
Sale of Property, Plant & Equipment	0.12	0.12	0.18	0.18	0
Sale (Purchase) of Intangibles	-2.84	-9.58	-14.42	-9.65	-3.49
Investment in Securities	-174.6	-7.65	0.85	90	-32.81
Other Investing Activities	-13.15	-16.17	3.16	6.03	7.56
Investing Cash Flow	-184.71	-37.76	-11.8	80.99	-36.73
Short-Term Debt Issued	-	48.9	46.9	37	60
Total Debt Issued	103	48.9	46.9	37	60
Short-Term Debt Repaid	-	-50.05	-39.04	-39.7	-49
Long-Term Debt Repaid	-	-2.57	-2.79	-2.47	-2.4
Total Debt Repaid	-65.42	-52.62	-41.83	-42.17	-51.4
Net Debt Issued (Repaid)	37.58	-3.72	5.07	-5.17	8.6
Issuance of Common Stock	273.01	273.01	245.45	-	-
Repurchase of Common Stock	-	-	-240.8	-	-
Other Financing Activities	-22.17	-23.75	-5.04	-13.03	-2.33
Financing Cash Flow	288.42	245.55	4.68	-18.2	6.28
Foreign Exchange Rate Adjustments	-0.9	0.06	-0.01	-	-
Net Cash Flow	143.68	253.1	18.99	93.08	27.14
Free Cash Flow	46.62	40.77	24.55	24.71	49.6
Free Cash Flow Growth	-	66.05%	-0.64%	-50.18%	-
Free Cash Flow Margin	6.71%	5.82%	4.38%	5.97%	15.18%
Free Cash Flow Per Share	0.10	0.12	0.08	0.09	0.17
Cash Interest Paid	2.38	2.41	2.27	1.52	2.07
Cash Income Tax Paid	1.25	1.25	7.52	-0.02	1.71
Levered Free Cash Flow	28.05	23.13	-62.92	12.15	-
Unlevered Free Cash Flow	29.68	24.66	-61.49	13.18	-
Change in Working Capital	-1.19	-1.19	-30.43	-23.69	16.23

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.