PAX Global Technology 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	713.43	1,155	1,265	1,084
Depreciation & Amortization	98.04	65.65	63.38	68.38
Loss (Gain) From Sale of Assets	0.26	-14.87	0.45	0.03
Loss (Gain) From Sale of Investments	-3.26	4.42	-0.91	-28.88
Loss (Gain) on Equity Investments	-10.64	-4.97	-7.42	-3.45
Stock-Based Compensation	31.67	-	-	13.67
Other Operating Activities	-5.35	-144.93	-26.32	-39.18
Change in Accounts Receivable	104.25	-350.46	-355.03	-682.44
Change in Inventory	188.64	630.01	-643.41	-416.16
Change in Accounts Payable	53.55	-849.47	349.5	358.73
Change in Other Net Operating Assets	-7.89	-0.52	3.61	-6.82
Operating Cash Flow	1,163	490.02	648.53	347.66
Operating Cash Flow Growth	137.28%	-24.44%	86.54%	-52.70%
Capital Expenditures	-126.88	-213	-330.61	-344.87
Cash Acquisitions	-25.46	-	-	-
Investment in Securities	-160.05	4.05	2.01	70.3
Other Investing Activities	-23.36	36.73	28.58	39.8
Investing Cash Flow	-335.75	-172.21	-300.02	-234.77
Long-Term Debt Repaid	-19.83	-24.84	-31.77	-33.86
Total Debt Repaid	-19.83	-24.84	-31.77	-33.86
Net Debt Issued (Repaid)	-19.83	-24.84	-31.77	-33.86
Issuance of Common Stock	8.15	13.83	5.3	34.62
Repurchase of Common Stock	-57.15	-84.73	-69.44	-86.96
Common Dividends Paid	-501.3	-430.19	-345.32	-350.86
Other Financing Activities	-0.31	-	-7.94	-11.08
Financing Cash Flow	-570.45	-525.92	-449.17	-448.14
Foreign Exchange Rate Adjustments	-36.49	-88.52	-272.06	65.46
Net Cash Flow	220	-296.64	-372.72	-269.79
Free Cash Flow	1,036	277.02	317.92	2.79
Free Cash Flow Growth	273.92%	-12.87%	11294.91%	-99.59%
Free Cash Flow Margin	17.14%	4.13%	3.94%	0.04%
Free Cash Flow Per Share	0.95	0.25	0.29	0.00
Cash Interest Paid	5.56	5.38	5.65	6.98
Cash Income Tax Paid	148.68	247.67	196.98	208.19
Levered Free Cash Flow	817.15	-69.32	119.28	-328.85
Unlevered Free Cash Flow	817.15	-69.32	122.81	-324.69
Change in Working Capital	338.55	-570.44	-645.33	-746.69

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