HKG:2590 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
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-329.13	-831.5	-1,127	-1,567
Depreciation & Amortization	53.46	60.49	86.38	122.28
Other Amortization	1.99	1.99	1.52	2.68
Loss (Gain) From Sale of Assets	0.31	0.31	6.32	0.9
Asset Writedown & Restructuring Costs	-	-	6.09	9.86
Loss (Gain) on Equity Investments	-0.02	-0.02	-14.9	14.97
Stock-Based Compensation	29.49	29.49	21.03	14.19
Provision & Write-off of Bad Debts	15.17	15.17	9.86	11.29
Other Operating Activities	424.72	748.47	754.44	854.7
Change in Accounts Receivable	-19.71	-19.71	-372.34	-111.69
Change in Inventory	119.59	119.59	-105.53	-540.39
Change in Accounts Payable	178.28	178.28	179.87	87.39
Change in Unearned Revenue	-303.38	-303.38	61.67	464.55
Change in Other Net Operating Assets	-107.28	-107.28	14.84	-12.76
Operating Cash Flow	63.49	-108.1	-477.43	-649.16
Capital Expenditures	-121.33	-102.23	-48.03	-36.03
Sale of Property, Plant & Equipment	5.54	5.54	1.85	0.21
Investment in Securities	170	142	8	-183.03
Other Investing Activities	-1.52	2.74	6.92	-0.56
Investing Cash Flow	52.69	48.04	-31.27	-219.4
Short-Term Debt Issued	-	487.9	430.37	286.8
Total Debt Issued	689.27	487.9	430.37	286.8
Short-Term Debt Repaid	-	-495.17	-220.11	-155.89
Long-Term Debt Repaid	-	-33.32	-46.61	-63.13
Total Debt Repaid	-495.51	-528.49	-266.72	-219.01
Net Debt Issued (Repaid)	193.76	-40.59	163.65	67.79
Issuance of Common Stock	-	-	-	1,450
Other Financing Activities	-18.45	-15.56	-13.26	-13.52
Financing Cash Flow	175.31	-56.15	150.39	1,505
Foreign Exchange Rate Adjustments	23.23	-8.22	-2.47	9.81
Net Cash Flow	314.72	-124.42	-360.78	645.83
Free Cash Flow	-57.84	-210.34	-525.46	-685.18
Free Cash Flow Margin	-2.18%	-8.73%	-24.52%	-47.18%
Free Cash Flow Per Share	-0.20	-0.72	-1.80	-2.34
Cash Interest Paid	14.33	14.33	13.26	13.52
Cash Income Tax Paid	2.85	2.45	6.16	1.06
Levered Free Cash Flow	-	552.24	291.53	-
Unlevered Free Cash Flow	-	560.94	299.84	-
Change in Working Capital	-132.51	-132.51	-221.48	-112.9

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