HKG:6681 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-314.86	-198.28	-359.08	-502.45	-697.84
Depreciation & Amortization	25.52	26.27	21	12.36	1.55
Other Amortization	0.66	0.88	0.27	0.07	0.08
Loss (Gain) From Sale of Assets	0.06	-0	0.06	0.13	-0.01
Loss (Gain) From Sale of Investments	-1.12	-0.01	-2.67	-3.24	-
Stock-Based Compensation	77.21	66.77	44.87	-	19.37
Provision & Write-off of Bad Debts	38.92	11.48	0.85	0.05	0.01
Other Operating Activities	16.55	-14.27	183.54	401.2	628.83
Change in Accounts Receivable	-27.91	-64.45	-48.01	-11.79	-6.01
Change in Accounts Payable	-3.66	12.33	23.44	2.07	4.85
Change in Unearned Revenue	10.06	9.68	2.71	0.72	0.39
Change in Other Net Operating Assets	0.53	3.56	-3.84	0.21	-0.44
Operating Cash Flow	-178.03	-146.04	-136.87	-100.68	-49.21
Capital Expenditures	-14.31	-17.33	-15.97	-16.4	-10.8
Sale of Property, Plant & Equipment	0.57	0.07	0.25	0.02	0.01
Sale (Purchase) of Intangibles	-13.4	-0.37	-2.05	-2.66	-0.02
Investment in Securities	-203.03	0.01	333.46	-327.55	-
Other Investing Activities	-20.72	144.91	-212.64	2.63	-1.17
Investing Cash Flow	-272.89	123.38	102.55	-334.46	-21.48
Short-Term Debt Issued	348.92	335.04	15	6.96	-
Long-Term Debt Issued	-	-	-	50	350
Total Debt Issued	348.92	335.04	15	56.96	350
Short-Term Debt Repaid	-25	-15	-2.36	-	-4.09
Long-Term Debt Repaid	-101.37	-8.26	-7.95	-6.25	-0.81
Total Debt Repaid	-126.37	-23.26	-10.31	-6.25	-4.89
Net Debt Issued (Repaid)	222.56	311.78	4.69	50.71	345.11
Issuance of Common Stock	218.2	-	153.12	89.5	63.7
Other Financing Activities	-101.49	-2.98	-94.28	-0.57	-15.19
Financing Cash Flow	339.27	308.81	63.53	139.65	393.61
Foreign Exchange Rate Adjustments	-7.13	0.16	0.12	0.01	-
Net Cash Flow	-118.78	286.31	29.33	-295.49	322.93
Free Cash Flow	-192.34	-163.37	-152.84	-117.08	-60.01
Free Cash Flow Margin	-87.41%	-133.57%	-227.44%	-1036.94%	-2610.05%
Free Cash Flow Per Share	-0.16	-0.16	-0.26	-0.42	-0.40
Cash Interest Paid	80.15	1.02	0.63	0.57	0.19
Cash Income Tax Paid	1.25	0.05	-	-	-
Levered Free Cash Flow	-145.64	8.4	-252.93	-82.34	-
Unlevered Free Cash Flow	-130.65	22.17	-240.29	-70.32	-
Change in Working Capital	-20.98	-38.88	-25.71	-8.8	-1.2

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