HKG:3388 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	-182.56	88.76	129.06
Depreciation & Amortization	60.16	50.79	41.18
Other Amortization	2.61	1.92	1.64
Loss (Gain) From Sale of Assets	0.32	0.09	0
Loss (Gain) From Sale of Investments	1.54	-0.09	-1.22
Stock-Based Compensation	15.42	8.33	1.63
Other Operating Activities	259.17	4.02	29.36
Change in Accounts Receivable	-116.11	-49.05	-1.59
Change in Inventory	-236.78	-101.21	-186.61
Change in Accounts Payable	173.59	127.63	155.42
Change in Unearned Revenue	-23.47	39.08	13.63
Change in Other Net Operating Assets	-17.87	2.64	-21.36
Operating Cash Flow	-63.98	172.91	161.12
Operating Cash Flow Growth	-	7.32%	-
Capital Expenditures	-29.54	-207.43	-144.39
Sale of Property, Plant & Equipment	-	0.01	0.66
Sale (Purchase) of Intangibles	-2.9	-2.25	-0.68
Investment in Securities	-91.18	140.57	27.25
Other Investing Activities	-0.77	6.05	-7.7
Investing Cash Flow	-124.39	-63.06	-124.86
Long-Term Debt Issued	683.66	250	273.44
Long-Term Debt Repaid	-585.66	-186.86	-236.51
Net Debt Issued (Repaid)	98	63.14	36.93
Common Dividends Paid	-81.36	-	-71
Other Financing Activities	-18.19	-16.29	-16.85
Financing Cash Flow	-1.54	46.85	-50.92
Foreign Exchange Rate Adjustments	3.73	5.25	1.39
Net Cash Flow	-186.18	161.95	-13.26
Free Cash Flow	-93.52	-34.52	16.73
Free Cash Flow Margin	-2.99%	-1.51%	0.89%
Free Cash Flow Per Share	-0.25	-0.10	0.05
Cash Interest Paid	12.83	16.29	14.83
Cash Income Tax Paid	5.85	23.26	31.77
Levered Free Cash Flow	-122.58	-124.36	-
Unlevered Free Cash Flow	-113.74	-114.88	-
Change in Working Capital	-220.64	19.1	-40.52