HKG:3363 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	14.51	36.39	-17.55	47.17	160.84
Depreciation & Amortization	125.15	122.18	119.2	124.65	116.44
Other Amortization	4.13	3.62	3.11	2.31	0.6
Loss (Gain) From Sale of Assets	-16.15	-10.31	1.38	0.82	1.38
Asset Writedown & Restructuring Costs	-	-	-	-	22.23
Provision & Write-off of Bad Debts	-1.13	0.96	-0.42	-2.15	1.29
Other Operating Activities	48.55	32.78	50.11	53.87	103.01
Change in Accounts Receivable	-485.72	-551.57	-380.05	-83.21	-652.11
Change in Inventory	-18.6	4.35	20.43	-12.44	-54.87
Change in Accounts Payable	119.1	-48.55	77.26	18.81	101.83
Change in Unearned Revenue	4.21	-5.18	2.98	-0.87	4.44
Change in Other Net Operating Assets	0.03	-2.58	2.78	-0.2	-0.06
Operating Cash Flow	-205.93	-417.9	-120.77	148.76	-194.98
Capital Expenditures	-229.48	-230.65	-128.73	-183.37	-235.73
Sale of Property, Plant & Equipment	64.27	22.39	0.4	18.76	26.29
Cash Acquisitions	-	-91.14	-5.93	-100.39	-12.13
Sale (Purchase) of Intangibles	-2.83	-0.31	-1.24	-1.6	-0.56
Other Investing Activities	-30.6	31.77	-14.54	32.88	24.69
Investing Cash Flow	-198.63	-267.95	-150.04	-233.72	-197.43
Long-Term Debt Issued	1,137	1,356	1,027	1,066	1,383
Long-Term Debt Repaid	-669.68	-687.16	-714.76	-823.56	-867.94
Total Debt Repaid	-669.68	-687.16	-714.76	-823.56	-867.94
Net Debt Issued (Repaid)	467.59	668.61	312.28	242.57	514.57
Common Dividends Paid	-10	-5	-7.1	-45	-15
Other Financing Activities	-51.97	-44.3	-60.29	-62.35	-62.93
Financing Cash Flow	405.62	619.31	244.89	135.22	436.63
Net Cash Flow	1.06	-66.54	-25.93	50.26	44.21
Free Cash Flow	-435.41	-648.55	-249.5	-34.6	-430.71
Free Cash Flow Margin	-17.30%	-26.63%	-10.44%	-1.15%	-12.11%
Free Cash Flow Per Share	-0.87	-1.30	-0.50	-0.07	-0.86
Cash Interest Paid	47.84	44.3	52.31	59.35	62.03
Cash Income Tax Paid	0.93	1.58	-5.52	17.67	26.31
Levered Free Cash Flow	-413.82	-125.16	17.01	279.76	-119.98
Unlevered Free Cash Flow	-384.87	-97.47	49.7	316.86	-81.21
Change in Working Capital	-380.98	-603.52	-276.6	-77.9	-600.76

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