HKG:3625 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Net Income	-59.17	-56.84	-94.13	-65.9
Depreciation & Amortization	8.24	8.46	7.83	6.19
Loss (Gain) From Sale of Investments	-0.02	0.12	0.17	0.13
Stock-Based Compensation	7.09	7.84	7.84	7.82
Other Operating Activities	10.28	-0.27	7.21	3.97
Change in Accounts Receivable	1.61	-11.56	-16.47	-12.57
Change in Inventory	8.36	-49.04	-8.21	-63.31
Change in Accounts Payable	-12.04	19.39	4.51	5.6
Change in Unearned Revenue	1.44	3.01	2.33	-0.07
Change in Other Net Operating Assets	6.61	-3.85	0.37	12.33
Operating Cash Flow	-27.61	-82.74	-88.56	-105.81
Capital Expenditures	-0.74	-1.96	-3.49	-15.63
Sale (Purchase) of Intangibles	-0.18	-0.12	-	-0.26
Investment in Securities	30	20	-	-10
Other Investing Activities	3.2	1.97	-19.92	15.47
Investing Cash Flow	32.28	19.89	-23.42	-10.42
Long-Term Debt Issued	115.96	69.03	48.65	-
Long-Term Debt Repaid	-62.33	-49.17	-15.5	-2.28
Net Debt Issued (Repaid)	53.64	19.86	33.15	-2.28
Issuance of Common Stock	-	-	-	206.68
Other Financing Activities	-4.16	-1.19	-0.59	-
Financing Cash Flow	49.47	18.68	32.56	204.4
Foreign Exchange Rate Adjustments	-2.15	4.92	1.84	2.5
Net Cash Flow	51.99	-39.25	-77.57	90.67
Free Cash Flow	-28.35	-84.69	-92.05	-121.44
Free Cash Flow Margin	-7.75%	-23.84%	-61.25%	-93.18%
Free Cash Flow Per Share	-0.28	-0.85	-0.92	-1.40
Cash Interest Paid	2.5	1.19	0.59	-
Cash Income Tax Paid	-	-	-	0
Levered Free Cash Flow	-35.87	-61.44	-56.38	-
Unlevered Free Cash Flow	-34.21	-60.57	-55.86	-
Change in Working Capital	5.97	-42.04	-17.47	-58.02