Tai Sang Land Development Cash Flow Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	-377.29	-333.41	-185.66	360.12	633.62	-155.94	Upgrade
Depreciation & Amortization	44.55	45.54	48.19	54.74	45.31	24.1	Upgrade
Other Amortization	4.69	4.69	5.11	5.43	5.17	4.07	Upgrade
Gain (Loss) on Sale of Assets	-0.39	-0.39	-3.21	0.1	0.13	-0.01	Upgrade
Asset Writedown	329.25	329.25	190.02	-286.18	-617.13	243.05	Upgrade
Change in Accounts Receivable	8.84	8.84	-5.15	-4.05	-0.34	-2.02	Upgrade
Change in Other Net Operating Assets	-4.82	-4.82	-1.09	8.11	6.52	3.85	Upgrade
Other Operating Activities	165.57	117.38	113.23	26.27	67.79	32.99	Upgrade
Operating Cash Flow	170.89	167.58	162.59	166.88	142.31	150.85	Upgrade
Operating Cash Flow Growth	6.38%	3.08%	-2.57%	17.27%	-5.66%	-9.78%	Upgrade
Acquisition of Real Estate Assets	-6.37	-15.72	-37.44	-66.25	-143.13	-302.25	Upgrade
Sale of Real Estate Assets	0.47	2.99	14.92	0.39	0.7	1.9	Upgrade
Net Sale / Acq. of Real Estate Assets	-5.9	-12.72	-22.52	-65.86	-142.43	-300.35	Upgrade
Other Investing Activities	3.56	3.85	3.07	1.98	1.33	1.93	Upgrade
Investing Cash Flow	-2.34	-8.87	-19.44	-63.88	-141.1	-298.43	Upgrade
Long-Term Debt Issued	-	360.9	1,025	514.6	236.56	707.14	Upgrade
Long-Term Debt Repaid	-	-310.64	-1,020	-451.91	-160.48	-403	Upgrade
Net Debt Issued (Repaid)	52.93	50.26	4.39	62.69	76.08	304.14	Upgrade
Common Dividends Paid	-25.89	-28.77	-34.52	-74.79	-63.29	-63.29	Upgrade
Other Financing Activities	-145.1	-165.12	-138.8	-68.87	-43.18	-63.54	Upgrade
Foreign Exchange Rate Adjustments	-	-0.01	0.02	-0.08	-	-	Upgrade
Net Cash Flow	50.49	15.07	-25.77	21.95	-29.19	29.73	Upgrade
Cash Interest Paid	141.58	160.47	135.95	65.66	41.26	60.64	Upgrade
Cash Income Tax Paid	1.81	2.36	1.4	9.41	12.92	9.8	Upgrade
Levered Free Cash Flow	42.52	26.03	44.7	65.32	46.12	123.12	Upgrade
Unlevered Free Cash Flow	127.45	120.94	135.79	109.84	69	147.04	Upgrade
Change in Working Capital	3.97	3.97	-7.51	4.05	5.85	1.83	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.