HKG:2889 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	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-544.96	-541.24	-283.89	-452.1
Depreciation & Amortization	89.98	79.94	60.44	45.38
Loss (Gain) From Sale of Assets	0.02	0.02	0.15	-
Loss (Gain) From Sale of Investments	-65.65	-65.65	-111.76	-0.42
Loss (Gain) on Equity Investments	0.74	0.74	-	-
Stock-Based Compensation	157.19	157.19	65.36	61.64
Provision & Write-off of Bad Debts	149.95	149.95	14.17	5.4
Other Operating Activities	742.74	128.27	74.56	70.51
Change in Accounts Receivable	-775.32	-775.32	-207.16	-248.56
Change in Inventory	-51.02	-51.02	-46.4	-191.58
Change in Accounts Payable	182.35	182.35	105.02	224.26
Change in Unearned Revenue	103.48	103.48	-39.29	17.43
Change in Other Net Operating Assets	-74.5	-74.5	98.21	4.3
Operating Cash Flow	-85	-705.79	-270.57	-463.73
Capital Expenditures	-217.71	-161.93	-150.37	-157.16
Sale of Property, Plant & Equipment	0.47	0.73	0.17	0.01
Investment in Securities	-206.5	-198	-204.47	-158
Other Investing Activities	-189.5	43.91	-56.33	-62.98
Investing Cash Flow	-613.24	-315.3	-410.99	-378.13
Long-Term Debt Issued	-	1,642	1,073	711.86
Long-Term Debt Repaid	-	-1,190	-698.31	-692.52
Net Debt Issued (Repaid)	381.01	452.8	374.52	19.34
Issuance of Common Stock	291	1,331	-	1,345
Other Financing Activities	-49.4	-42.53	-23.76	-23.13
Financing Cash Flow	622.61	1,741	350.76	1,342
Foreign Exchange Rate Adjustments	0.11	-0.01	-0.02	0.06
Net Cash Flow	-75.52	719.97	-330.83	499.85
Free Cash Flow	-302.71	-867.72	-420.94	-620.89
Free Cash Flow Margin	-10.88%	-33.93%	-28.14%	-50.99%
Free Cash Flow Per Share	-2.18	-6.58	-3.57	-5.88
Cash Interest Paid	45.16	38.12	23.76	24.14
Cash Income Tax Paid	0.03	0.03	0.07	0
Levered Free Cash Flow	-	-931.27	-412.33	-
Unlevered Free Cash Flow	-	-903.72	-394.97	-
Change in Working Capital	-615.01	-615.01	-89.61	-194.14

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