HKG:2595 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-1,795	-677.64	-508.32
Depreciation & Amortization	9.58	13.94	17.67
Other Amortization	0.18	0.18	0.19
Loss (Gain) From Sale of Assets	0.01	0.01	0.14
Loss (Gain) From Sale of Investments	-0.08	-0.4	-3.59
Stock-Based Compensation	26.28	26.94	36.97
Other Operating Activities	1,543	395.18	253.63
Change in Accounts Receivable	93.23	-36.8	-32.95
Change in Inventory	-11.75	-3.53	0.54
Change in Accounts Payable	48.14	156.14	7.76
Change in Unearned Revenue	-24.03	-60.21	11.21
Change in Other Net Operating Assets	-25.8	-20.2	14.69
Operating Cash Flow	-135.7	-206.4	-202.06
Capital Expenditures	-0.11	-0.24	-0.59
Sale of Property, Plant & Equipment	0.07	0	0.01
Sale (Purchase) of Intangibles	-0.01	-0.03	-
Investment in Securities	-825.44	0.99	264.02
Investing Cash Flow	-825.48	0.73	263.44
Short-Term Debt Issued	88.9	56.93	5.31
Total Debt Issued	88.9	56.93	5.31
Short-Term Debt Repaid	-56.13	-11.11	-22.77
Long-Term Debt Repaid	-4.78	-5.14	-5.4
Total Debt Repaid	-60.91	-16.26	-28.17
Net Debt Issued (Repaid)	27.99	40.67	-22.86
Issuance of Common Stock	1,820	207.87	-
Other Financing Activities	-15.18	-15.11	-6.2
Financing Cash Flow	1,833	233.44	-29.06
Foreign Exchange Rate Adjustments	-36.62	2.16	4.55
Net Cash Flow	835.32	29.93	36.88
Free Cash Flow	-135.81	-206.64	-202.65
Free Cash Flow Margin	-104.25%	-197.35%	-274.85%
Free Cash Flow Per Share	-0.46	-0.80	-0.92
Cash Interest Paid	3.1	1.99	1.49
Cash Income Tax Paid	0.15	-	-
Levered Free Cash Flow	-2,214	407.96	-
Unlevered Free Cash Flow	-2,211	411.79	-
Change in Working Capital	79.8	35.4	1.27