HKG:3378 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	-131.01	-115.83	-76.06
Depreciation & Amortization	6.26	5.37	1.01
Other Amortization	0.14	0.11	0.03
Loss (Gain) From Sale of Investments	-13.98	-1.62	33.1
Stock-Based Compensation	20.92	22.35	15.49
Other Operating Activities	-0.34	-7.28	-20.62
Change in Accounts Payable	18.63	7.78	0.88
Change in Other Net Operating Assets	-2.99	-15.77	-5.83
Operating Cash Flow	-102.38	-104.89	-51.99
Capital Expenditures	-1.84	-6.21	-4.23
Sale (Purchase) of Intangibles	-0.1	-	-0.55
Investment in Securities	34.7	99.91	94.63
Other Investing Activities	0.36	2.92	4.11
Investing Cash Flow	33.11	96.62	93.96
Long-Term Debt Issued	67	-	-
Long-Term Debt Repaid	-23.91	-3.81	-1.16
Net Debt Issued (Repaid)	43.09	-3.81	-1.16
Issuance of Common Stock	516.62	12.84	91.38
Other Financing Activities	-34.84	-2.55	-
Financing Cash Flow	524.87	6.49	90.22
Foreign Exchange Rate Adjustments	-2.41	1	0.03
Net Cash Flow	453.19	-0.79	132.21
Free Cash Flow	-104.22	-111.1	-56.23
Free Cash Flow Margin	-113280.44%	-5052.48%	-2214.49%
Free Cash Flow Per Share	-0.88	-0.94	-7.71
Cash Interest Paid	0.85	-	-
Cash Income Tax Paid	-	5.81	2.05
Levered Free Cash Flow	-176.03	101.65	-
Unlevered Free Cash Flow	-168.77	107.51	-
Change in Working Capital	15.64	-7.99	-4.95