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	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-333.41	-185.66	360.12	633.62
Depreciation & Amortization	45.54	48.19	54.74	45.31
Other Amortization	4.69	5.11	5.43	5.17
Gain (Loss) on Sale of Assets	-0.39	-3.21	0.1	0.13
Asset Writedown	329.25	190.02	-286.18	-617.13
Change in Accounts Receivable	8.84	-5.15	-4.05	-0.34
Change in Other Net Operating Assets	-4.82	-1.09	8.11	6.52
Other Operating Activities	117.38	113.23	26.27	67.79
Operating Cash Flow	167.58	162.59	166.88	142.31
Operating Cash Flow Growth	3.08%	-2.57%	17.27%	-5.66%
Acquisition of Real Estate Assets	-15.72	-37.44	-66.25	-143.13
Sale of Real Estate Assets	2.99	14.92	0.39	0.7
Net Sale / Acq. of Real Estate Assets	-12.72	-22.52	-65.86	-142.43
Other Investing Activities	3.85	3.07	1.98	1.33
Investing Cash Flow	-8.87	-19.44	-63.88	-141.1
Long-Term Debt Issued	360.9	1,025	514.6	236.56
Long-Term Debt Repaid	-310.64	-1,020	-451.91	-160.48
Net Debt Issued (Repaid)	50.26	4.39	62.69	76.08
Common Dividends Paid	-28.77	-34.52	-74.79	-63.29
Other Financing Activities	-165.12	-138.8	-68.87	-43.18
Foreign Exchange Rate Adjustments	-0.01	0.02	-0.08	-
Net Cash Flow	15.07	-25.77	21.95	-29.19
Cash Interest Paid	160.47	135.95	65.66	41.26
Cash Income Tax Paid	2.36	1.4	9.41	12.92
Levered Free Cash Flow	26.03	44.7	65.32	46.12
Unlevered Free Cash Flow	120.94	135.79	109.84	69
Change in Working Capital	3.97	-7.51	4.05	5.85

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