HKG:9686 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	-38.93	-83.05	-154.65	-241.97	-296.54
Depreciation & Amortization	30.46	27.89	33.09	34.02	41.12
Other Amortization	0.49	0.52	0.62	-	0.71
Loss (Gain) From Sale of Assets	-3.37	0.56	0.43	-10.54	-20.8
Loss (Gain) From Sale of Investments	-4.46	-	-	-	-
Loss (Gain) on Equity Investments	4.53	17.43	4.93	4.76	4.15
Stock-Based Compensation	19.55	8.58	29.82	79.18	153.56
Provision & Write-off of Bad Debts	-18.19	37.17	-	-	-
Other Operating Activities	16.52	5.91	40.66	56.18	37.92
Change in Inventory	-3.31	20.96	-18.62	-0.02	-23.18
Change in Other Net Operating Assets	37.26	-14.4	43.58	4.57	19.69
Operating Cash Flow	40.55	21.56	-20.16	-73.83	-83.38
Operating Cash Flow Growth	88.04%	-	-	-	-
Capital Expenditures	-5.47	-13.44	-4.27	-7.34	-18.38
Sale of Property, Plant & Equipment	0.12	0.26	0.38	0.33	0.19
Cash Acquisitions	-	-2.84	-	-	-
Divestitures	26.65	7.44	-	-1.44	-16.72
Investment in Securities	-176.96	119.03	-141.68	-	29.14
Other Investing Activities	-	-	-1.03	-	0.31
Investing Cash Flow	-155.67	110.45	-146.6	-8.45	-5.47
Long-Term Debt Issued	482.9	240	-	270	240.8
Short-Term Debt Repaid	-	-	-	-	-0.71
Long-Term Debt Repaid	-552.09	-266.17	-27.16	-178.17	-187.77
Total Debt Repaid	-552.09	-266.17	-27.16	-178.17	-188.48
Net Debt Issued (Repaid)	-69.19	-26.17	-27.16	91.83	52.33
Issuance of Common Stock	-	-	567.65	-	33.26
Other Financing Activities	-21.83	-30.39	-35.72	-27.21	-20.69
Financing Cash Flow	-91.01	-56.56	504.77	64.62	64.9
Foreign Exchange Rate Adjustments	-9.19	8.61	-11.97	3.66	-2.99
Net Cash Flow	-215.32	84.06	326.05	-13.99	-26.94
Free Cash Flow	35.08	8.13	-24.42	-81.17	-101.77
Free Cash Flow Growth	331.64%	-	-	-	-
Free Cash Flow Margin	7.56%	1.62%	-4.54%	-11.81%	-16.57%
Free Cash Flow Per Share	0.04	0.01	-0.04	-0.13	-0.16
Cash Interest Paid	19.75	23.47	25.16	23.04	15.79
Cash Income Tax Paid	4.41	7.44	3.44	0.25	0.07
Levered Free Cash Flow	23.18	-4.13	-78.29	-52.41	22.89
Unlevered Free Cash Flow	37.28	12.75	-54.37	-25.61	45.59
Change in Working Capital	33.95	6.56	24.96	4.55	-3.5

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