Power Assets Holdings Cash Flow Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. 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	6,236	6,119	6,003	5,649	6,140
Depreciation & Amortization	4	3	4	3	3
Loss (Gain) on Equity Investments	-6,142	-5,855	-5,264	-4,778	-4,896
Change in Accounts Receivable	-117	80	1	3	-53
Change in Accounts Payable	189	179	-477	-502	-220
Change in Other Net Operating Assets	662	562	442	-4	44
Other Operating Activities	52	-147	841	401	-79
Operating Cash Flow	884	941	1,550	772	939
Operating Cash Flow Growth	-6.06%	-39.29%	100.78%	-17.79%	-2.39%
Capital Expenditures	-1	-	-2	-1	-
Investment in Securities	-447	963	628	-2,185	1,226
Other Investing Activities	4,323	4,723	3,574	6,194	4,705
Investing Cash Flow	3,875	5,686	4,200	4,008	5,931
Long-Term Debt Issued	3,281	1,126	-	-	3,685
Long-Term Debt Repaid	-2,630	-1,464	-181	-2	-3,682
Net Debt Issued (Repaid)	651	-338	-181	-2	3
Repurchase of Common Stock	-	-	-	-121	-
Common Dividends Paid	-6,010	-6,010	-6,009	-6,019	-6,019
Financing Cash Flow	-5,359	-6,348	-6,190	-6,142	-6,016
Foreign Exchange Rate Adjustments	8	-2	13	4	-1
Net Cash Flow	-592	277	-427	-1,358	853
Free Cash Flow	883	941	1,548	771	939
Free Cash Flow Growth	-6.16%	-39.21%	100.78%	-17.89%	-2.19%
Free Cash Flow Margin	114.53%	102.39%	119.81%	60.95%	57.64%
Free Cash Flow Per Share	0.41	0.44	0.73	0.36	0.44
Cash Interest Paid	239	196	170	108	153
Cash Income Tax Paid	194	318	94	41	83
Levered Free Cash Flow	-26.63	413.25	475.5	515.5	922.63
Unlevered Free Cash Flow	115.88	518.88	564.88	580.5	1,001
Change in Working Capital	734	821	-34	-503	-229

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.