HKG:2657 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	360.37	186.83	84.52	-5.87
Depreciation & Amortization	106.18	74.83	78.19	86.66
Other Amortization	-	1.67	1.67	1.69
Loss (Gain) From Sale of Assets	-	0.16	-0.49	-0.12
Loss (Gain) From Sale of Investments	-	-0.55	2.47	-0.19
Stock-Based Compensation	-	5.13	3.94	2.28
Other Operating Activities	71.6	1.2	6.28	-32.92
Change in Accounts Receivable	-	-10.91	-15.37	12.71
Change in Inventory	-163.3	-86.87	15.03	-19.06
Change in Accounts Payable	-	62.07	17.58	0.76
Change in Unearned Revenue	-	3.81	6.88	-4.66
Change in Other Net Operating Assets	35.6	69.15	5.11	23.98
Operating Cash Flow	410.45	306.51	205.82	65.27
Operating Cash Flow Growth	33.91%	48.92%	215.31%	-
Capital Expenditures	-73.2	-89.57	-91.59	-83.9
Sale of Property, Plant & Equipment	-	0.9	0.57	0.31
Sale (Purchase) of Intangibles	-4.8	-0.74	-0.64	-0.59
Investment in Securities	-	0.83	4.9	242.74
Other Investing Activities	3.41	-	-	-
Investing Cash Flow	-74.59	-88.59	-86.76	158.56
Long-Term Debt Issued	-	50.96	26.94	-
Long-Term Debt Repaid	-	-59.25	-61.97	-65.51
Net Debt Issued (Repaid)	-	-8.29	-35.02	-65.51
Common Dividends Paid	-95	-50	-	-
Other Financing Activities	861.94	-5.2	-1.61	-2.15
Financing Cash Flow	766.94	-63.49	-36.64	-67.66
Foreign Exchange Rate Adjustments	-1.57	0.16	0.18	0.91
Net Cash Flow	1,101	154.59	82.61	157.08
Free Cash Flow	337.25	216.94	114.23	-18.63
Free Cash Flow Growth	55.46%	89.91%	-	-
Free Cash Flow Margin	13.77%	17.93%	14.19%	-2.70%
Free Cash Flow Per Share	2.68	1.73	0.91	-0.15
Cash Interest Paid	-	4.11	1.61	2.01
Cash Income Tax Paid	-	32.44	10.1	0.65
Levered Free Cash Flow	192.71	140.09	106.39	-
Unlevered Free Cash Flow	196.13	141.63	107.28	-
Change in Working Capital	-127.7	37.24	29.23	13.74

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