HKG:7489 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	1,017	-90.46	-1,496
Depreciation & Amortization	2,652	1,763	1,138
Other Amortization	31.86	18	9.74
Loss (Gain) From Sale of Assets	-83.79	-47.59	-9.04
Asset Writedown & Restructuring Costs	-	3	39.58
Loss (Gain) From Sale of Investments	0.03	0.92	13.14
Stock-Based Compensation	93.85	65.84	38.83
Provision & Write-off of Bad Debts	3.82	-	-
Other Operating Activities	12.68	-173.15	-484.92
Change in Accounts Receivable	-2,446	26.24	-813.07
Change in Inventory	-5,029	-943.17	-129.25
Change in Accounts Payable	7,616	2,206	2,953
Change in Unearned Revenue	604.99	157.34	615.89
Change in Other Net Operating Assets	245.27	318.01	1,756
Operating Cash Flow	4,720	3,304	3,632
Operating Cash Flow Growth	42.88%	-9.04%	-
Capital Expenditures	-2,848	-1,643	-2,217
Sale of Property, Plant & Equipment	763.01	391.33	47.97
Sale (Purchase) of Intangibles	-2,833	-1,502	-1,319
Other Investing Activities	43.64	79.26	-797.79
Investing Cash Flow	-4,875	-2,674	-4,286
Long-Term Debt Issued	3,985	1,200	3,000
Long-Term Debt Repaid	-3,552	-1,538	-197.94
Net Debt Issued (Repaid)	433.39	-338.01	2,802
Issuance of Common Stock	2,000	-	-
Other Financing Activities	-104.47	-97.93	-71.15
Financing Cash Flow	2,329	-435.94	2,731
Net Cash Flow	2,175	193.41	2,077
Free Cash Flow	1,872	1,661	1,415
Free Cash Flow Growth	12.71%	17.38%	-
Free Cash Flow Margin	5.37%	8.58%	11.10%
Free Cash Flow Per Share	0.56	0.54	0.46
Cash Interest Paid	56.47	78.22	22.58
Levered Free Cash Flow	-1,707	-67.71	-
Unlevered Free Cash Flow	-1,652	-2.99	-
Change in Working Capital	992.33	1,764	4,382

Source: S&P Capital IQ. Standard template. Financial Sources.