HKG:2553 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-204.03	-137.41	-66.45	-20.46
Depreciation & Amortization	132.36	131.79	108.48	55.47
Other Amortization	0.16	0.33	0.08	0.11
Loss (Gain) From Sale of Assets	-0.11	0	-1.59	-
Asset Writedown & Restructuring Costs	22	-	-	5.34
Loss (Gain) From Sale of Investments	1.01	1.74	0.17	0.11
Stock-Based Compensation	-	-	3.98	0.6
Other Operating Activities	-77.01	-57.74	-11.2	7.59
Change in Accounts Receivable	6.57	-40.13	1.58	-0.79
Change in Inventory	6.95	-16.3	-38.72	-11.08
Change in Accounts Payable	187.89	117.19	52.71	15.9
Change in Unearned Revenue	33.21	12.65	-3.82	10.61
Change in Other Net Operating Assets	-22.03	7.19	-55.7	41.23
Operating Cash Flow	86.97	19.31	-10.49	104.63
Operating Cash Flow Growth	350.43%	-	-	-
Capital Expenditures	-219.83	-141.56	-212.54	-805.84
Sale of Property, Plant & Equipment	0.54	-	-	-
Sale (Purchase) of Intangibles	-1.12	-3.36	-7.92	-8.12
Investing Cash Flow	-220.41	-144.92	-220.45	-813.96
Long-Term Debt Issued	715.63	277.74	35	809.03
Long-Term Debt Repaid	-587.38	-201.1	-130.01	-99.82
Net Debt Issued (Repaid)	128.25	76.64	-95.01	709.21
Issuance of Common Stock	-	-	-	300
Other Financing Activities	-37.26	-23.21	5.39	37.3
Financing Cash Flow	90.99	53.43	-89.62	1,047
Net Cash Flow	-42.45	-72.18	-320.56	337.18
Free Cash Flow	-132.86	-122.25	-223.02	-701.21
Free Cash Flow Margin	-25.47%	-21.69%	-37.64%	-180.02%
Free Cash Flow Per Share	-0.37	-0.34	-0.62	-2.24
Cash Interest Paid	34.82	33.92	33.83	23.61
Cash Income Tax Paid	-2.27	0.4	3.13	-1.23
Levered Free Cash Flow	-158.92	-165.55	-151.8	-
Unlevered Free Cash Flow	-137.03	-144.15	-135.02	-
Change in Working Capital	212.59	80.59	-43.95	55.87