HKG:2582 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	-382.97	-210.28	-73.3	-93.86	-71.19
Depreciation & Amortization	67.2	57.37	32.95	26.27	14.28
Loss (Gain) From Sale of Assets	-0.08	-0.07	-	0.71	0.98
Loss (Gain) From Sale of Investments	5.99	1.02	7.47	-0.17	0.12
Loss (Gain) on Equity Investments	6.68	2.66	2.11	0.33	0.42
Stock-Based Compensation	15.79	60.48	4.8	-	-
Provision & Write-off of Bad Debts	73.09	22	6.13	2.38	21.55
Other Operating Activities	121.55	-12.12	5.81	-12.49	-15.59
Change in Accounts Receivable	-69.11	-201.78	-114.34	-82.7	-139.75
Change in Inventory	-59.09	47.84	111.74	-122.76	-73.13
Change in Accounts Payable	92.47	164.55	57.64	112.69	21.22
Change in Unearned Revenue	1.42	20.91	-4.64	35.85	-11.51
Change in Income Taxes	-	-	-	-	0.17
Change in Other Net Operating Assets	-28.82	-15.93	-28.01	-40.13	-1.93
Operating Cash Flow	-155.88	-63.35	8.36	-173.87	-254.36
Capital Expenditures	-133.22	-203.09	-222.6	-204.85	-112.74
Sale of Property, Plant & Equipment	0.4	0.43	-	1.71	0.52
Cash Acquisitions	-3.42	-	-	-	-
Investment in Securities	-157.12	-172.01	-20.54	-18.98	-21.1
Other Investing Activities	-97.05	1.29	4.45	-47.04	-16.07
Investing Cash Flow	-390.37	-363.83	-248.69	-269.16	-149.38
Long-Term Debt Issued	706.04	528.65	576.72	445.06	122
Short-Term Debt Repaid	-	-	-	-0.83	-
Long-Term Debt Repaid	-619.1	-441.17	-274.45	-79.28	-80.27
Total Debt Repaid	-619.1	-441.17	-274.45	-80.11	-80.27
Net Debt Issued (Repaid)	86.94	87.48	302.26	364.95	41.73
Issuance of Common Stock	623.44	389.33	222.28	-	452.5
Other Financing Activities	-73.25	-47.32	-27.99	-13.17	-8.47
Financing Cash Flow	637.12	429.49	496.55	351.78	485.76
Foreign Exchange Rate Adjustments	0.63	0.25	0.18	-	-
Net Cash Flow	91.51	2.57	256.4	-91.26	82.02
Free Cash Flow	-289.1	-266.43	-214.24	-378.73	-367.1
Free Cash Flow Margin	-83.46%	-58.09%	-41.01%	-105.35%	-111.49%
Free Cash Flow Per Share	-2.70	-2.68	-2.38	-4.21	-4.49
Cash Interest Paid	38.38	32.3	29.29	14.67	7.79
Cash Income Tax Paid	0.12	-	-	0	0
Levered Free Cash Flow	-273.9	-341.02	-141.88	-203.44	-346.03
Unlevered Free Cash Flow	-252.04	-320.51	-127.6	-195.95	-342.79
Change in Working Capital	-63.13	15.59	22.4	-97.05	-204.93

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