HKG:2659 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
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-380.24	-364.43	-160.4
Depreciation & Amortization	32.32	31.36	22.21
Other Amortization	1.09	0.77	0.22
Loss (Gain) From Sale of Assets	0.08	0.08	0.03
Loss (Gain) on Equity Investments	0.48	0.61	0.92
Stock-Based Compensation	129.86	153.15	-
Other Operating Activities	4.78	3.34	0.69
Change in Accounts Receivable	2.31	1.86	-2
Change in Inventory	-0.71	3.36	-0.63
Change in Accounts Payable	72.73	44.1	11.61
Change in Unearned Revenue	3.4	3.2	0.4
Change in Other Net Operating Assets	-18.2	-97.18	-13.26
Operating Cash Flow	-152.1	-219.78	-140.21
Capital Expenditures	-96.71	-118.27	-136.37
Sale of Property, Plant & Equipment	0.44	0.15	-
Other Investing Activities	3.7	-4	-
Investing Cash Flow	-92.58	-122.12	-136.37
Long-Term Debt Issued	-	161.66	48.47
Long-Term Debt Repaid	-	-71.6	-41.49
Net Debt Issued (Repaid)	82.58	90.06	6.98
Issuance of Common Stock	490.1	460.1	120.25
Other Financing Activities	-10.59	-6.97	-4.3
Financing Cash Flow	562.1	543.2	122.93
Foreign Exchange Rate Adjustments	0.44	1.19	2.97
Net Cash Flow	317.86	202.49	-150.68
Free Cash Flow	-248.81	-338.06	-276.58
Free Cash Flow Margin	-533.26%	-5487.91%	-3991.02%
Free Cash Flow Per Share	-4.42	-6.32	-5.47
Cash Interest Paid	6.53	5.51	4.3
Levered Free Cash Flow	-	-214.42	-
Unlevered Free Cash Flow	-	-211.58	-
Change in Working Capital	59.54	-44.66	-3.88

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