HKG:6998 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024
Net Income	399.26	387.89
Depreciation & Amortization	239.34	189.03
Other Amortization	4.84	5.14
Loss (Gain) From Sale of Assets	0.01	1.75
Asset Writedown & Restructuring Costs	-	2.26
Loss (Gain) From Sale of Investments	0.69	-0.67
Stock-Based Compensation	51.85	33.29
Other Operating Activities	126.86	305.74
Change in Accounts Receivable	-334.36	48.99
Change in Inventory	94.66	-222.22
Change in Accounts Payable	-84.48	154.64
Change in Other Net Operating Assets	-46.95	9.87
Operating Cash Flow	451.73	915.73
Operating Cash Flow Growth	-50.67%	-
Capital Expenditures	-46.69	-26.17
Sale of Property, Plant & Equipment	0.11	0.08
Cash Acquisitions	885.74	-
Sale (Purchase) of Intangibles	-0.99	-161.18
Other Investing Activities	402.64	-405.47
Investing Cash Flow	1,241	-592.74
Long-Term Debt Issued	1,645	1,245
Long-Term Debt Repaid	-2,151	-1,671
Net Debt Issued (Repaid)	-505.35	-426.35
Other Financing Activities	-192.95	-256.83
Financing Cash Flow	-744.78	-683.18
Foreign Exchange Rate Adjustments	-4.52	4.76
Net Cash Flow	943.23	-355.42
Free Cash Flow	405.04	889.56
Free Cash Flow Growth	-54.47%	-
Free Cash Flow Margin	16.28%	34.94%
Free Cash Flow Per Share	0.24	0.53
Cash Interest Paid	192.95	256.83
Cash Income Tax Paid	106.04	51.11
Levered Free Cash Flow	1,166	-
Unlevered Free Cash Flow	1,269	-
Change in Working Capital	-371.13	-8.72

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