HKG:3752 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	-179.31	-191.76	-157.46
Depreciation & Amortization	13.15	13.62	19.46
Other Amortization	1.1	0.94	1.21
Loss (Gain) From Sale of Assets	0.13	0.25	0.3
Loss (Gain) From Sale of Investments	-3.32	-9.25	-0.5
Stock-Based Compensation	-	19.35	1.85
Provision & Write-off of Bad Debts	4.85	19.94	0.98
Other Operating Activities	130.61	111.18	71.05
Change in Accounts Receivable	-71.89	-117.24	-50.28
Change in Inventory	-114.94	4.64	-4.57
Change in Accounts Payable	113.89	35.05	38.1
Change in Unearned Revenue	-9.97	18.61	-6.92
Change in Other Net Operating Assets	38.18	-28.82	-8.43
Operating Cash Flow	-77.52	-123.49	-95.23
Capital Expenditures	-14.75	-22.65	-9.61
Sale of Property, Plant & Equipment	0.05	0.37	0.26
Sale (Purchase) of Intangibles	-5.33	-1.96	-0.21
Investment in Securities	-101.2	-254.22	32.14
Other Investing Activities	-0.14	-0.28	-0.04
Investing Cash Flow	-121.36	-278.74	22.55
Short-Term Debt Issued	-	-	15
Total Debt Issued	-	-	15
Short-Term Debt Repaid	-	-15	-
Long-Term Debt Repaid	-1.76	-12.49	-6.29
Total Debt Repaid	-1.76	-27.49	-6.29
Net Debt Issued (Repaid)	-1.76	-27.49	8.71
Issuance of Common Stock	195	0.35	500
Other Financing Activities	-1.44	-0.26	-1.17
Financing Cash Flow	191.8	-27.4	507.55
Foreign Exchange Rate Adjustments	0.07	0.03	0.28
Net Cash Flow	-7.01	-429.6	435.14
Free Cash Flow	-92.27	-146.15	-104.84
Free Cash Flow Margin	-17.68%	-44.93%	-39.26%
Free Cash Flow Per Share	-1.13	-1.73	-1.24
Cash Interest Paid	0.2	0.26	1.17
Levered Free Cash Flow	-163.19	-301.17	-
Unlevered Free Cash Flow	-86.63	-238.52	-
Change in Working Capital	-44.72	-87.77	-32.1