HKG:3677 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	FY 2021
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	441.47	91.01	-589.87	-1,720	-402.28
Depreciation & Amortization	676.37	598.97	405.16	288.32	183.25
Other Amortization	9.97	9.97	8.69	5.68	2.42
Loss (Gain) From Sale of Assets	19.9	8.8	-1.32	-8.23	-0.1
Asset Writedown & Restructuring Costs	-	-	6.98	244.64	-
Loss (Gain) From Sale of Investments	15.81	9.71	10.84	600.06	22.46
Loss (Gain) on Equity Investments	-328.98	-302.5	25.09	-0.92	-
Stock-Based Compensation	57.52	58.88	43.93	35.04	22.61
Other Operating Activities	180.2	175.74	311.23	585.8	134.15
Change in Accounts Receivable	-516.57	-483.79	-836.22	-1,373	-141.6
Change in Inventory	-195.87	-120.35	116.73	-941.52	-446.52
Change in Accounts Payable	480.56	218.68	403.52	2,491	1,034
Change in Unearned Revenue	-287.24	-29.91	-100.72	128.48	-64.91
Change in Other Net Operating Assets	-734.58	-596.35	480.31	1,017	-509.2
Operating Cash Flow	-181.46	-361.14	284.35	1,354	-165.42
Operating Cash Flow Growth	-	-	-78.99%	-	-
Capital Expenditures	-1,934	-614.8	-791.75	-2,688	-896.12
Sale of Property, Plant & Equipment	3.27	3.53	7.42	12.51	0.33
Cash Acquisitions	-	-	-	-239.54	-
Sale (Purchase) of Intangibles	-10.33	-10.33	-21.99	-19.57	-0.59
Investment in Securities	0.21	-345.8	1,019	-1,147	612.11
Other Investing Activities	301.65	192.23	89.9	68.34	-
Investing Cash Flow	-1,639	-775.16	302.73	-4,013	-284.28
Long-Term Debt Issued	-	1,369	1,221	2,886	69
Long-Term Debt Repaid	-	-938.88	-620.75	-359.04	-408.85
Net Debt Issued (Repaid)	1,093	430.18	600.59	2,527	-339.85
Issuance of Common Stock	1,903	1,000	5.14	2,415	1,290
Other Financing Activities	-148.42	-132.06	-94.71	-2,119	-11.65
Financing Cash Flow	2,848	1,298	511.03	2,824	938.32
Foreign Exchange Rate Adjustments	-2.96	2.98	-	4.38	-14.72
Net Cash Flow	1,024	164.79	1,098	168.75	473.9
Free Cash Flow	-2,115	-975.94	-507.4	-1,334	-1,062
Free Cash Flow Margin	-32.76%	-19.02%	-12.19%	-40.55%	-70.80%
Free Cash Flow Per Share	-0.88	-0.42	-0.27	-0.78	-0.68
Cash Interest Paid	142.79	125.7	133.41	109.84	11.65
Cash Income Tax Paid	0.41	0.07	23.51	4.88	-
Levered Free Cash Flow	-	-1,456	258.72	-1,222	-
Unlevered Free Cash Flow	-	-1,373	304.63	-1,201	-
Change in Working Capital	-1,254	-1,012	63.61	1,323	-127.93

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