HKG:2577 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	-840.51	-1,046	-1,102	-2,205	-3,399
Depreciation & Amortization	517.34	505.43	524.74	463.08	263.13
Other Amortization	-	10.52	9.58	6.7	2.11
Loss (Gain) From Sale of Assets	-	-10.77	-9.11	1.42	0.23
Loss (Gain) From Sale of Investments	-	-1.47	-5.59	-28.59	-0.21
Stock-Based Compensation	-	166.94	86.36	30.6	19.72
Provision & Write-off of Bad Debts	-	1.54	1.56	0.13	0.24
Other Operating Activities	-483.25	196.52	116.94	1,094	2,449
Change in Accounts Receivable	-	-145.88	-189.01	65.09	43.67
Change in Inventory	-	-143.66	-32.75	-364.37	-116.07
Change in Accounts Payable	-	133.72	-80.56	5.05	200
Change in Unearned Revenue	-	-6.08	69.69	3.95	-43.65
Change in Other Net Operating Assets	-	2.52	16.5	-7.79	19.47
Operating Cash Flow	-806.43	-336.35	-593.61	-936.3	-562.14
Capital Expenditures	-210.62	-171.75	-331.31	-464.62	-1,121
Sale of Property, Plant & Equipment	5.91	17.65	25.13	0.89	6.33
Investment in Securities	-1,633	21.55	644.37	369.94	-1,000
Other Investing Activities	-135.32	3.69	-	-	-
Investing Cash Flow	-1,973	-128.87	338.2	-93.8	-2,115
Long-Term Debt Issued	1,416	392.76	266.16	1,268	4,039
Long-Term Debt Repaid	-1,167	-530.53	-305.94	-672.58	-81.94
Net Debt Issued (Repaid)	248.8	-137.77	-39.78	595.87	3,957
Issuance of Common Stock	1,956	1,889	20	-	-
Other Financing Activities	-71.08	-89.23	-107.02	-135.71	-131.82
Financing Cash Flow	2,134	1,662	-126.8	460.16	3,825
Foreign Exchange Rate Adjustments	-0.8	-0.45	0.35	2.07	-0.57
Net Cash Flow	-646	1,196	-381.86	-567.86	1,147
Free Cash Flow	-1,017	-508.1	-924.92	-1,401	-1,683
Free Cash Flow Margin	-83.83%	-61.33%	-156.05%	-1028.77%	-2467.81%
Free Cash Flow Per Share	-1.15	-0.62	-1.16	-	-
Cash Interest Paid	71.08	89.23	107.02	135.71	131.82
Cash Income Tax Paid	0.51	0.34	0.01	0.07	-
Levered Free Cash Flow	-790.63	-276.83	-775.46	-1,318	-
Unlevered Free Cash Flow	-736.09	-224.29	-701.14	-1,236	-
Change in Working Capital	-	-159.38	-216.15	-298.07	103.41

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