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 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	-26.82	28.77	14.68	-123.57	-137.3
Depreciation & Amortization	93.47	97.31	92.82	104.69	104.53
Loss (Gain) From Sale of Assets	-	-	-	0.47	7.21
Asset Writedown & Restructuring Costs	75.53	29.19	4.92	36.07	31.75
Loss (Gain) From Sale of Investments	-4.23	1.67	0.64	2.7	5.68
Provision & Write-off of Bad Debts	7.13	10.86	3.78	34.71	68.91
Other Operating Activities	44.54	31.45	55.18	67.7	14.55
Change in Accounts Receivable	-26.25	-71.16	-16.77	38.73	-16.27
Change in Inventory	0.64	2.24	-12.7	-4.37	17.93
Change in Accounts Payable	2.88	-29.36	16.29	-7.97	143.37
Change in Unearned Revenue	-15.71	13.79	10.73	0.37	-3.53
Change in Other Net Operating Assets	-24.9	-8.78	186.52	-79.1	-18.7
Operating Cash Flow	126.29	105.98	356.08	70.44	219.42
Operating Cash Flow Growth	19.17%	-70.24%	405.50%	-67.90%	-
Capital Expenditures	-195.45	-192.88	-195.78	-137.97	-154.47
Sale of Property, Plant & Equipment	-	-	-	0.05	1.01
Sale (Purchase) of Real Estate	-	-	-	-	-6.71
Investment in Securities	-25.55	-	-	-	-
Other Investing Activities	-48	58.29	16.95	39.3	-24.9
Investing Cash Flow	-269	-134.59	-178.83	-98.62	-185.07
Long-Term Debt Issued	553.96	408.37	552.48	622.18	475.18
Total Debt Issued	553.96	408.37	552.48	622.18	475.18
Long-Term Debt Repaid	-500.95	-333.29	-713.39	-533.26	-554.33
Total Debt Repaid	-500.95	-333.29	-713.39	-533.26	-554.33
Net Debt Issued (Repaid)	53.01	75.08	-160.91	88.92	-79.15
Issuance of Common Stock	-	-	309.29	-	-
Repurchase of Common Stock	-3.54	-0.87	-	-	-
Common Dividends Paid	-22.66	-10.86	-	-	-
Other Financing Activities	-32.29	-34.23	-47.81	-59.02	-
Financing Cash Flow	-5.48	29.12	100.57	29.9	-79.15
Foreign Exchange Rate Adjustments	5.78	-5.34	23.39	10.84	4.81
Net Cash Flow	-142.41	-4.84	301.22	12.56	-39.98
Free Cash Flow	-69.16	-86.91	160.3	-67.53	64.95
Free Cash Flow Margin	-4.22%	-5.34%	10.22%	-4.70%	4.44%
Free Cash Flow Per Share	-0.06	-0.08	0.17	-0.09	0.09
Cash Interest Paid	32.29	34.23	47.81	59.02	58.25
Cash Income Tax Paid	16.6	22.2	2.37	5.62	10.86
Levered Free Cash Flow	-176.06	-106.36	133.94	-281.5	24.89
Unlevered Free Cash Flow	-162.08	-88.17	163.82	-244.61	61.29
Change in Working Capital	-63.34	-93.28	184.08	-52.33	124.09

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