HKG:2637 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	177.03	136.08	117.45	68.98
Depreciation & Amortization	7.72	4.98	3.89	2.81
Loss (Gain) From Sale of Assets	0.15	-	0.03	0.02
Loss (Gain) From Sale of Investments	-6.66	-1.14	-	0.14
Stock-Based Compensation	-	0	0.01	0.03
Provision & Write-off of Bad Debts	-0.01	0.13	0.67	-0.06
Other Operating Activities	13.34	15.4	23.24	29.24
Change in Accounts Receivable	-21.83	-22.78	-25.47	5.62
Change in Inventory	-21.08	-10.41	3.4	-5.54
Change in Accounts Payable	17.35	33.9	25.61	-13.2
Change in Unearned Revenue	-6.13	7.78	-1.72	-2.73
Operating Cash Flow	159.88	163.94	147.11	85.31
Operating Cash Flow Growth	-2.48%	11.45%	72.44%	-
Capital Expenditures	-44.79	-178.56	-58.71	-3.07
Sale (Purchase) of Intangibles	-0.13	-	-	-
Sale (Purchase) of Real Estate	-	-	-0.78	-28.63
Investment in Securities	-441.4	-244.13	100.42	-22.04
Other Investing Activities	7.08	43.98	-53.69	-0.02
Investing Cash Flow	-479.24	-378.72	-12.77	-53.76
Long-Term Debt Issued	78.51	17.83	5.57	-
Long-Term Debt Repaid	-9.63	-4.83	-46.91	-9.84
Net Debt Issued (Repaid)	68.88	13	-41.34	-9.84
Issuance of Common Stock	907.92	-	-	157.6
Other Financing Activities	-45.79	-14.27	-10.15	-14.63
Financing Cash Flow	931.01	-1.27	-51.49	133.13
Foreign Exchange Rate Adjustments	-4.88	-	-	-
Net Cash Flow	606.77	-216.04	82.85	164.68
Free Cash Flow	115.09	-14.62	88.39	82.24
Free Cash Flow Growth	-	-	7.47%	-
Free Cash Flow Margin	19.76%	-3.13%	27.92%	38.71%
Free Cash Flow Per Share	1.66	-0.22	1.31	1.28
Cash Interest Paid	14.26	13.43	10.15	14.63
Cash Income Tax Paid	15.83	4.28	0.01	-
Levered Free Cash Flow	27.61	-57.3	59.52	-
Unlevered Free Cash Flow	31.2	-52.79	64.36	-
Change in Working Capital	-31.69	8.5	1.81	-15.85