ACTIVATION GP (09919) Cash Flow Statement

0.930
-0.010-1.06%

Market Closed May 22 16:05 CST

692.61MMarket Cap8.23P/E (TTM)

ACTIVATION GP (09919) Cash Flow

All

YOY

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(FY)Dec 31, 2025

(Q6)Jun 30, 2025

(FY)Dec 31, 2024

(Q6)Jun 30, 2024

(FY)Dec 31, 2023

(Q6)Jun 30, 2023

(FY)Dec 31, 2022

(Q6)Jun 30, 2022

(FY)Dec 31, 2021

(Q6)Jun 30, 2021

Cash flow from operating activities

Earning before tax

-10.05%108.05M

29.34%54.43M

-27.10%120.13M

-21.57%42.09M

195.85%164.79M

1,377.74%53.67M

-61.49%55.7M

-107.40%-4.2M

275.16%144.63M

403.78%56.73M

Profit adjustment

Interest (income) - adjustment

-8.12%-2.11M

-67.92%-1.7M

-46.50%-1.95M

-179.01%-1.01M

21.64%-1.33M

59.96%-362K

-1.25%-1.7M

-159.03%-904K

24.07%-1.68M

76.05%-349K

Attributable subsidiary (profit) loss

21.20%-3.48M

77.42%-266K

-5.03%-4.41M

-420.11%-1.18M

-1,208.10%-4.2M

--368K

-108.41%-321K

----

624.48%3.82M

123.23%567K

Impairment and provisions:

-42.27%3.05M

-46.37%605K

412.61%5.29M

775.45%1.13M

-88.91%1.03M

-120.69%-167K

552.88%9.3M

-61.70%807K

188.26%1.42M

147.88%2.11M

-Impairment of trade receivables (reversal)

-42.27%3.05M

-46.37%605K

412.61%5.29M

775.45%1.13M

-88.50%1.03M

-120.69%-167K

529.42%8.96M

-61.70%807K

188.26%1.42M

147.88%2.11M

-Other impairments and provisions

----

--334K

----

Revaluation surplus:

-4,497.63%-7.43M

----

-95.56%169K

----

1,057.14%3.81M

----

--329K

----

-Other fair value changes

-4,497.63%-7.43M

----

-95.56%169K

----

1,057.14%3.81M

----

--329K

----

Depreciation and amortization:

-2.96%4.95M

-6.73%2.47M

-1.71%5.1M

0.80%2.65M

1.37%5.19M

10.62%2.63M

-17.33%5.12M

-19.07%2.37M

-11.76%6.2M

13.86%2.93M

-Amortization of intangible assets

-9.54%237K

-7.41%125K

30.35%262K

68.75%135K

63.41%201K

-48.05%80K

-5.38%123K

156.67%154K

18.18%130K

7.14%60K

Financial expense

-11.24%371K

15.89%175K

1.95%418K

-24.12%151K

-22.05%410K

-16.39%199K

-14.19%526K

-21.19%238K

-75.63%613K

-84.24%302K

Special items

-98.04%325K

-96.61%325K

70.11%16.58M

154.74%9.59M

-47.90%9.75M

-46.21%3.76M

1,633.36%18.71M

--7M

-713.33%-1.22M

----

Operating profit before the change of operating capital

-26.60%103.74M

4.93%56.05M

-21.24%141.33M

-11.12%53.41M

104.70%179.44M

1,031.66%60.09M

-43.00%87.66M

-91.48%5.31M

225.58%153.79M

544.10%62.29M

Change of operating capital

Accounts receivable (increase)decrease

-101.46%-1.86M

-72.34%53.06M

241.88%127.42M

130.00%191.79M

-4.27%-89.81M

89.66%83.39M

-727.06%-86.13M

209.16%43.97M

80.30%-10.41M

-144.09%-40.28M

Accounts payable increase (decrease)

-83.11%-79.09M

19.12%-118.43M

-168.89%-43.19M

-185.42%-146.42M

-16.50%62.7M

53.83%-51.3M

11.48%75.09M

-471.83%-111.11M

1,113.26%67.36M

136.36%29.88M

prepayments (increase)decrease

144.46%5.86M

98.82%-105K

-1,167.79%-13.19M

52.43%-8.93M

-106.41%-1.04M

12.65%-18.78M

1,225.59%16.23M

-134.71%-21.5M

91.39%-1.44M

41.81%-9.16M

Cash from business operations

-86.51%28.65M

-110.50%-9.43M

40.37%212.37M

22.41%89.85M

62.93%151.29M

188.08%73.4M

-55.63%92.86M

-295.01%-83.33M

1,343.33%209.29M

307.56%42.73M

Other taxs

16.99%-35.5M

9.78%-26.55M

-18.21%-42.76M

-82.25%-29.43M

-13.56%-36.17M

26.30%-16.15M

6.10%-31.86M

-20.67%-21.91M

-177.45%-33.93M

-68.92%-18.16M

Net cash from operations

-104.03%-6.84M

-159.55%-35.98M

47.33%169.61M

5.53%60.42M

88.72%115.12M

154.40%57.26M

-65.21%61M

-528.19%-105.24M

703.43%175.36M

178.43%24.58M

Cash flow from investment activities

Interest received - investment

8.12%2.11M

67.92%1.7M

46.50%1.95M

179.01%1.01M

-21.64%1.33M

-59.96%362K

1.25%1.7M

159.03%904K

-24.07%1.68M

-76.05%349K

Loan receivable (increase) decrease

-79.92%527K

--527K

503.07%2.62M

----

-94.91%-651K

----

---334K

----

Sale of fixed assets

----

-10.34%26K

----

2,800.00%29K

----

-95.45%1K

-92.31%1K

-63.33%22K

116.67%13K

Purchase of fixed assets

64.84%-654K

46.49%-534K

-183.54%-1.86M

-86.89%-998K

79.40%-656K

76.06%-534K

25.12%-3.18M

-552.34%-2.23M

-372.97%-4.25M

33.72%-342K

Purchase of intangible assets

----

86.59%-101K

83.94%-101K

-684.38%-753K

-2,319.23%-629K

53.17%-96K

75.70%-26K

-6.22%-205K

---107K

Cash on investment

----

---3M

----

---36.79M

-20.56%-19.91M

----

---16.51M

Other items in the investment business

----

-56.06%87K

----

--198K

----

178.90%3.11M

----

Net cash from investment operations

811.51%1.98M

1,997.75%1.69M

44.84%-278K

88.89%-89K

98.70%-504K

96.23%-801K

-11,254.76%-38.71M

-28.07%-21.26M

-96.71%347K

-258.10%-16.6M

Net cash before financing

-102.87%-4.87M

-156.84%-34.29M

47.74%169.33M

6.87%60.33M

414.11%114.62M

144.63%56.45M

-87.31%22.29M

-1,685.62%-126.5M

1,049.42%175.71M

138.29%7.98M

Cash flow from financing activities

Interest paid - financing

11.24%-371K

-15.89%-175K

-1.95%-418K

24.12%-151K

22.05%-410K

16.39%-199K

14.19%-526K

21.19%-238K

75.63%-613K

84.24%-302K

Dividends paid - financing

24.40%-70.83M

23.48%-53.23M

-14.62%-93.69M

-81.89%-69.57M

19.26%-81.74M

-502.01%-38.25M

-102.91%-101.23M

---6.35M

---49.89M

----

Issuance expenses and redemption of securities expenses

----

-74.59%-10.19M

-60.66%-9.21M

88.72%-5.84M

88.33%-5.73M

Other items of the financing business

212.42%878K

--878K

95.82%-781K

----

-36.60%-18.69M

---1.01M

-94.37%-13.68M

----

69.36%-7.04M

100.60%80K

Net cash from financing operations

25.33%-72.96M

24.47%-53.86M

6.02%-97.71M

-73.82%-71.3M

18.42%-103.97M

-148.43%-41.02M

-84.93%-127.44M

-96.05%-16.51M

-134.50%-68.91M

-103.89%-8.42M

Effect of rate

-778.57%-3.33M

68.60%-2.35M

112.76%490K

-195.70%-7.49M

-843.24%-3.84M

-172.01%-2.53M

89.62%-407K

264.38%3.52M

49.63%-3.92M

-130.05%-2.14M

Net Cash

-208.66%-77.82M

-703.75%-88.15M

572.55%71.62M

-171.05%-10.97M

110.13%10.65M

110.79%15.44M

-198.44%-105.14M

-32,109.91%-143.01M

-41.07%106.8M

-100.23%-444K

Begining period cash

23.48%379.19M

2.27%307.08M

-26.01%300.27M

33.96%405.82M

133.94%302.94M

Cash at the end

-21.40%298.04M

0.02%288.69M

23.48%379.19M

-7.84%288.63M

2.27%307.08M

17.59%313.17M

-26.01%300.27M

-11.33%266.32M

33.96%405.82M

-9.63%300.35M

Cash balance analysis

Currency Unit

CNY

Accounting Standards

HKAS

Audit Opinions

Unqualified Opinion

Auditor

Ernst & Young

	(FY)Dec 31, 2025	(Q6)Jun 30, 2025	(FY)Dec 31, 2024	(Q6)Jun 30, 2024	(FY)Dec 31, 2023	(Q6)Jun 30, 2023	(FY)Dec 31, 2022	(Q6)Jun 30, 2022	(FY)Dec 31, 2021	(Q6)Jun 30, 2021
Cash flow from operating activities
Earning before tax	-10.05%108.05M	29.34%54.43M	-27.10%120.13M	-21.57%42.09M	195.85%164.79M	1,377.74%53.67M	-61.49%55.7M	-107.40%-4.2M	275.16%144.63M	403.78%56.73M
Profit adjustment
Interest (income) - adjustment	-8.12%-2.11M	-67.92%-1.7M	-46.50%-1.95M	-179.01%-1.01M	21.64%-1.33M	59.96%-362K	-1.25%-1.7M	-159.03%-904K	24.07%-1.68M	76.05%-349K
Attributable subsidiary (profit) loss	21.20%-3.48M	77.42%-266K	-5.03%-4.41M	-420.11%-1.18M	-1,208.10%-4.2M	--368K	-108.41%-321K	----	624.48%3.82M	123.23%567K
Impairment and provisions:	-42.27%3.05M	-46.37%605K	412.61%5.29M	775.45%1.13M	-88.91%1.03M	-120.69%-167K	552.88%9.3M	-61.70%807K	188.26%1.42M	147.88%2.11M
-Impairment of trade receivables (reversal)	-42.27%3.05M	-46.37%605K	412.61%5.29M	775.45%1.13M	-88.50%1.03M	-120.69%-167K	529.42%8.96M	-61.70%807K	188.26%1.42M	147.88%2.11M
-Other impairments and provisions	----	----	----	----	----	----	--334K	----	----	----
Revaluation surplus:	-4,497.63%-7.43M	----	-95.56%169K	----	1,057.14%3.81M	----	--329K	----	----	----
-Other fair value changes	-4,497.63%-7.43M	----	-95.56%169K	----	1,057.14%3.81M	----	--329K	----	----	----
Depreciation and amortization:	-2.96%4.95M	-6.73%2.47M	-1.71%5.1M	0.80%2.65M	1.37%5.19M	10.62%2.63M	-17.33%5.12M	-19.07%2.37M	-11.76%6.2M	13.86%2.93M
-Amortization of intangible assets	-9.54%237K	-7.41%125K	30.35%262K	68.75%135K	63.41%201K	-48.05%80K	-5.38%123K	156.67%154K	18.18%130K	7.14%60K
Financial expense	-11.24%371K	15.89%175K	1.95%418K	-24.12%151K	-22.05%410K	-16.39%199K	-14.19%526K	-21.19%238K	-75.63%613K	-84.24%302K
Special items	-98.04%325K	-96.61%325K	70.11%16.58M	154.74%9.59M	-47.90%9.75M	-46.21%3.76M	1,633.36%18.71M	--7M	-713.33%-1.22M	----
Operating profit before the change of operating capital	-26.60%103.74M	4.93%56.05M	-21.24%141.33M	-11.12%53.41M	104.70%179.44M	1,031.66%60.09M	-43.00%87.66M	-91.48%5.31M	225.58%153.79M	544.10%62.29M
Change of operating capital
Accounts receivable (increase)decrease	-101.46%-1.86M	-72.34%53.06M	241.88%127.42M	130.00%191.79M	-4.27%-89.81M	89.66%83.39M	-727.06%-86.13M	209.16%43.97M	80.30%-10.41M	-144.09%-40.28M
Accounts payable increase (decrease)	-83.11%-79.09M	19.12%-118.43M	-168.89%-43.19M	-185.42%-146.42M	-16.50%62.7M	53.83%-51.3M	11.48%75.09M	-471.83%-111.11M	1,113.26%67.36M	136.36%29.88M
prepayments (increase)decrease	144.46%5.86M	98.82%-105K	-1,167.79%-13.19M	52.43%-8.93M	-106.41%-1.04M	12.65%-18.78M	1,225.59%16.23M	-134.71%-21.5M	91.39%-1.44M	41.81%-9.16M
Cash from business operations	-86.51%28.65M	-110.50%-9.43M	40.37%212.37M	22.41%89.85M	62.93%151.29M	188.08%73.4M	-55.63%92.86M	-295.01%-83.33M	1,343.33%209.29M	307.56%42.73M
Other taxs	16.99%-35.5M	9.78%-26.55M	-18.21%-42.76M	-82.25%-29.43M	-13.56%-36.17M	26.30%-16.15M	6.10%-31.86M	-20.67%-21.91M	-177.45%-33.93M	-68.92%-18.16M
Net cash from operations	-104.03%-6.84M	-159.55%-35.98M	47.33%169.61M	5.53%60.42M	88.72%115.12M	154.40%57.26M	-65.21%61M	-528.19%-105.24M	703.43%175.36M	178.43%24.58M
Cash flow from investment activities
Interest received - investment	8.12%2.11M	67.92%1.7M	46.50%1.95M	179.01%1.01M	-21.64%1.33M	-59.96%362K	1.25%1.7M	159.03%904K	-24.07%1.68M	-76.05%349K
Loan receivable (increase) decrease	-79.92%527K	--527K	503.07%2.62M	----	-94.91%-651K	----	---334K	----	----	----
Sale of fixed assets	----	----	-10.34%26K	----	2,800.00%29K	----	-95.45%1K	-92.31%1K	-63.33%22K	116.67%13K
Purchase of fixed assets	64.84%-654K	46.49%-534K	-183.54%-1.86M	-86.89%-998K	79.40%-656K	76.06%-534K	25.12%-3.18M	-552.34%-2.23M	-372.97%-4.25M	33.72%-342K
Purchase of intangible assets	----	----	86.59%-101K	83.94%-101K	-684.38%-753K	-2,319.23%-629K	53.17%-96K	75.70%-26K	-6.22%-205K	---107K
Cash on investment	----	----	---3M	----	----	----	---36.79M	-20.56%-19.91M	----	---16.51M
Other items in the investment business	----	----	-56.06%87K	----	--198K	----	----	----	178.90%3.11M	----
Net cash from investment operations	811.51%1.98M	1,997.75%1.69M	44.84%-278K	88.89%-89K	98.70%-504K	96.23%-801K	-11,254.76%-38.71M	-28.07%-21.26M	-96.71%347K	-258.10%-16.6M
Net cash before financing	-102.87%-4.87M	-156.84%-34.29M	47.74%169.33M	6.87%60.33M	414.11%114.62M	144.63%56.45M	-87.31%22.29M	-1,685.62%-126.5M	1,049.42%175.71M	138.29%7.98M
Cash flow from financing activities
Interest paid - financing	11.24%-371K	-15.89%-175K	-1.95%-418K	24.12%-151K	22.05%-410K	16.39%-199K	14.19%-526K	21.19%-238K	75.63%-613K	84.24%-302K
Dividends paid - financing	24.40%-70.83M	23.48%-53.23M	-14.62%-93.69M	-81.89%-69.57M	19.26%-81.74M	-502.01%-38.25M	-102.91%-101.23M	---6.35M	---49.89M	----
Issuance expenses and redemption of securities expenses	----	----	----	----	----	----	-74.59%-10.19M	-60.66%-9.21M	88.72%-5.84M	88.33%-5.73M
Other items of the financing business	212.42%878K	--878K	95.82%-781K	----	-36.60%-18.69M	---1.01M	-94.37%-13.68M	----	69.36%-7.04M	100.60%80K
Net cash from financing operations	25.33%-72.96M	24.47%-53.86M	6.02%-97.71M	-73.82%-71.3M	18.42%-103.97M	-148.43%-41.02M	-84.93%-127.44M	-96.05%-16.51M	-134.50%-68.91M	-103.89%-8.42M
Effect of rate	-778.57%-3.33M	68.60%-2.35M	112.76%490K	-195.70%-7.49M	-843.24%-3.84M	-172.01%-2.53M	89.62%-407K	264.38%3.52M	49.63%-3.92M	-130.05%-2.14M
Net Cash	-208.66%-77.82M	-703.75%-88.15M	572.55%71.62M	-171.05%-10.97M	110.13%10.65M	110.79%15.44M	-198.44%-105.14M	-32,109.91%-143.01M	-41.07%106.8M	-100.23%-444K
Begining period cash	23.48%379.19M	23.48%379.19M	2.27%307.08M	2.27%307.08M	-26.01%300.27M	-26.01%300.27M	33.96%405.82M	33.96%405.82M	133.94%302.94M	133.94%302.94M
Cash at the end	-21.40%298.04M	0.02%288.69M	23.48%379.19M	-7.84%288.63M	2.27%307.08M	17.59%313.17M	-26.01%300.27M	-11.33%266.32M	33.96%405.82M	-9.63%300.35M
Cash balance analysis
Currency Unit	CNY	CNY	CNY	CNY	CNY	CNY	CNY	CNY	CNY	CNY
Accounting Standards	HKAS	HKAS	HKAS	HKAS	HKAS	HKAS	HKAS	HKAS	HKAS	HKAS
Audit Opinions	Unqualified Opinion	--	Unqualified Opinion	--	Unqualified Opinion	--	Unqualified Opinion	--	Unqualified Opinion	--
Auditor	Ernst & Young	--	Ernst & Young	--	Ernst & Young	--	Ernst & Young	--	Ernst & Young	--

FY: Financial Year. Refers to the 10-K file disclosed by the listed company to the SEC.

Q: Quarter. Refers to the 10-Q file disclosed by the listed company to the SEC. Q1, Q2, Q3, and Q4 are quarterly reports each with a span of 3 months; Q6 and Q9 are cumulative reports, with Q6 including 6 months and Q9 9 months.

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