HKG:8481 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	75.85	47.51	28.35	12.06	13.6
Depreciation & Amortization	37.14	44.48	33.93	26.12	18.88
Other Amortization	1.21	1.57	2.33	3.33	2.97
Loss (Gain) From Sale of Assets	0.81	2.71	0.09	0.39	0.69
Asset Writedown & Restructuring Costs	-	-	-	0.02	-
Loss (Gain) From Sale of Investments	-	-	-0.01	-0.07	-0.01
Provision & Write-off of Bad Debts	-1.75	2.65	0.46	0.91	0.19
Other Operating Activities	7.41	15.06	15.18	9.78	8.5
Change in Accounts Receivable	-29.42	-46.75	-58.29	-47.9	-24.72
Change in Inventory	0.17	-8.04	-5.75	7.96	-0.51
Change in Accounts Payable	-36.68	-1.79	56.67	-22.55	11.26
Operating Cash Flow	54.74	57.4	72.95	-9.97	30.83
Operating Cash Flow Growth	-4.63%	-21.32%	-	-	13.42%
Capital Expenditures	-264.96	-124.53	-20.74	-53.06	-61.69
Sale of Property, Plant & Equipment	0.04	0.06	0.08	0.35	0.1
Sale (Purchase) of Intangibles	-21.41	-46.26	-2.29	-1.05	-2.18
Investment in Securities	-	-	0.01	12.08	-12
Other Investing Activities	192.03	-2.48	-6.89	31.94	-0.21
Investing Cash Flow	-94.29	-173.21	-29.82	-9.74	-75.98
Long-Term Debt Issued	523.03	418.8	445.6	390.17	137.66
Total Debt Issued	523.03	418.8	445.6	390.17	137.66
Long-Term Debt Repaid	-353.22	-289.22	-411.19	-363.79	-87.2
Total Debt Repaid	-353.22	-289.22	-411.19	-363.79	-87.2
Net Debt Issued (Repaid)	169.81	129.59	34.41	26.39	50.46
Repurchase of Common Stock	-24.81	-24.1	-0.32	-	-
Other Financing Activities	-15.26	-11.28	-9.9	-9.52	-7.22
Financing Cash Flow	129.74	94.21	24.19	16.87	43.24
Foreign Exchange Rate Adjustments	-0.71	-0.12	-0.25	0.04	0.16
Net Cash Flow	89.48	-21.72	67.07	-2.8	-1.76
Free Cash Flow	-210.22	-67.13	52.21	-63.04	-30.86
Free Cash Flow Margin	-35.89%	-11.46%	9.66%	-14.04%	-6.23%
Free Cash Flow Per Share	-0.49	-0.14	0.10	-0.13	-0.06
Cash Interest Paid	15.26	11.28	9.9	9.52	7.22
Cash Income Tax Paid	13.26	5.37	-0.28	-0.03	0.04
Levered Free Cash Flow	-128.48	-103.7	39.84	-53.77	-16.77
Unlevered Free Cash Flow	-122.43	-95.87	45.98	-48.01	-12.22
Change in Working Capital	-65.94	-56.58	-7.37	-62.49	-13.97

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