HKG:2632 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	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-364.36	-143.27	-181.92	-252.37
Depreciation & Amortization	27.27	27.34	18.43	11.54
Other Amortization	5.27	4.15	1.14	2.63
Loss (Gain) From Sale of Assets	3.24	5.11	5.12	0.03
Loss (Gain) From Sale of Investments	2.32	0.15	8.54	1.99
Stock-Based Compensation	3.69	2.73	21.28	4.7
Other Operating Activities	327.79	139.23	173.59	173.74
Change in Accounts Receivable	3.26	-12.04	-179.92	-86.98
Change in Inventory	-44.91	-13.13	-10.07	-38.53
Change in Accounts Payable	19.25	22.94	55.9	18.66
Change in Unearned Revenue	1.2	-4.82	-4.99	8.61
Change in Other Net Operating Assets	-18.35	0.81	-31.61	16.1
Operating Cash Flow	-34.32	29.19	-124.5	-139.89
Capital Expenditures	-42.55	-12.21	-11.21	-25.89
Sale of Property, Plant & Equipment	-	-	0.06	0.04
Sale (Purchase) of Intangibles	-5.02	-9.48	-7.16	-2.53
Investment in Securities	-30.65	-34.27	16.74	29.17
Investing Cash Flow	-78.23	-55.96	-1.58	0.79
Long-Term Debt Issued	-	138.52	41.25	52.74
Long-Term Debt Repaid	-	-62.54	-51.66	-27.83
Net Debt Issued (Repaid)	45.64	75.98	-10.41	24.9
Issuance of Common Stock	105.25	119.94	172.65	67.62
Other Financing Activities	-5.7	-2.69	-2.27	0.95
Financing Cash Flow	145.19	193.23	159.97	93.47
Foreign Exchange Rate Adjustments	-0.05	0	0.15	-0.19
Net Cash Flow	32.6	166.46	34.05	-45.82
Free Cash Flow	-76.87	16.98	-135.71	-165.78
Free Cash Flow Margin	-12.24%	2.94%	-24.70%	-77.44%
Free Cash Flow Per Share	-0.72	0.17	-1.49	-2.02
Cash Interest Paid	2.73	2.69	2.27	0.58
Cash Income Tax Paid	2.24	0.06	-	-
Levered Free Cash Flow	-	388.92	232.4	-
Unlevered Free Cash Flow	-	390.94	233.8	-
Change in Working Capital	-39.55	-6.24	-170.68	-82.15

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