Tian An Medicare 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	28.77	14.68	-123.57	-137.3
Depreciation & Amortization	97.31	92.82	104.69	104.53
Loss (Gain) From Sale of Assets	-	-	0.47	7.21
Asset Writedown & Restructuring Costs	29.19	4.92	36.07	31.75
Loss (Gain) From Sale of Investments	1.67	0.64	2.7	5.68
Provision & Write-off of Bad Debts	10.86	3.78	34.71	68.91
Other Operating Activities	31.45	55.18	67.7	14.55
Change in Accounts Receivable	-71.16	-16.77	38.73	-16.27
Change in Inventory	2.24	-12.7	-4.37	17.93
Change in Accounts Payable	-29.36	16.29	-7.97	143.37
Change in Unearned Revenue	13.79	10.73	0.37	-3.53
Change in Other Net Operating Assets	-8.78	186.52	-79.1	-18.7
Operating Cash Flow	105.98	356.08	70.44	219.42
Operating Cash Flow Growth	-70.24%	405.50%	-67.90%	-
Capital Expenditures	-192.88	-195.78	-137.97	-154.47
Sale of Property, Plant & Equipment	-	-	0.05	1.01
Sale (Purchase) of Real Estate	-	-	-	-6.71
Other Investing Activities	58.29	16.95	39.3	-24.9
Investing Cash Flow	-134.59	-178.83	-98.62	-185.07
Long-Term Debt Issued	408.37	552.48	622.18	475.18
Total Debt Issued	408.37	552.48	622.18	475.18
Long-Term Debt Repaid	-333.29	-713.39	-533.26	-554.33
Total Debt Repaid	-333.29	-713.39	-533.26	-554.33
Net Debt Issued (Repaid)	75.08	-160.91	88.92	-79.15
Issuance of Common Stock	-	309.29	-	-
Repurchase of Common Stock	-0.87	-	-	-
Common Dividends Paid	-10.86	-	-	-
Other Financing Activities	-34.23	-47.81	-59.02	-
Financing Cash Flow	29.12	100.57	29.9	-79.15
Foreign Exchange Rate Adjustments	-5.34	23.39	10.84	4.81
Net Cash Flow	-4.84	301.22	12.56	-39.98
Free Cash Flow	-86.91	160.3	-67.53	64.95
Free Cash Flow Margin	-5.34%	10.22%	-4.70%	4.44%
Free Cash Flow Per Share	-0.08	0.17	-0.09	0.09
Cash Interest Paid	34.23	47.81	59.02	58.25
Cash Income Tax Paid	22.2	2.37	5.62	10.86
Levered Free Cash Flow	-106.36	133.94	-281.5	24.89
Unlevered Free Cash Flow	-88.17	163.82	-244.61	61.29
Change in Working Capital	-93.28	184.08	-52.33	124.09

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