Tristate Holdings 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	156.02	171.23	30.77	21.13
Depreciation & Amortization	250.49	241.11	205.8	202.57
Loss (Gain) From Sale of Assets	-19.9	0.81	-7.35	2.18
Asset Writedown & Restructuring Costs	24.54	52.23	35.98	49.98
Stock-Based Compensation	0.72	0.74	0.73	0.73
Provision & Write-off of Bad Debts	6.65	0.92	0.92	-0.38
Other Operating Activities	126.91	77.46	196.88	78.7
Change in Accounts Receivable	109.26	-77.83	-57.06	-153.5
Change in Inventory	-100.76	70.44	-408.41	-152.26
Change in Accounts Payable	-115.47	7.16	93.2	125.86
Change in Other Net Operating Assets	-101.62	-72.78	-30.75	23.7
Operating Cash Flow	336.85	471.49	60.72	198.7
Operating Cash Flow Growth	-28.56%	676.56%	-69.44%	-7.91%
Capital Expenditures	-95.45	-98.05	-89.95	-49.68
Sale of Property, Plant & Equipment	23.74	0.66	1.07	0.66
Divestitures	-	-	4.97	-
Investment in Securities	-5.92	-	-	-
Other Investing Activities	2.37	4.4	0.52	33.88
Investing Cash Flow	-75.26	-92.99	-83.38	-15.14
Short-Term Debt Issued	256.18	291.25	555.54	282.08
Total Debt Issued	256.18	291.25	555.54	282.08
Short-Term Debt Repaid	-288.93	-365.51	-490.56	-298.74
Long-Term Debt Repaid	-133.6	-109.74	-89.62	-100.12
Total Debt Repaid	-422.52	-475.25	-580.17	-398.86
Net Debt Issued (Repaid)	-166.35	-183.99	-24.64	-116.78
Issuance of Common Stock	0.72	-	-	-
Common Dividends Paid	-68.15	-16.3	-	-
Other Financing Activities	-16.47	-17.13	-15.24	-11.05
Financing Cash Flow	-250.25	-217.42	-39.88	-127.83
Foreign Exchange Rate Adjustments	-8.3	1.56	-14.81	-2.56
Net Cash Flow	3.04	162.64	-77.35	53.17
Free Cash Flow	241.39	373.44	-29.23	149.02
Free Cash Flow Growth	-35.36%	-	-	-9.75%
Free Cash Flow Margin	5.77%	8.86%	-0.78%	4.91%
Free Cash Flow Per Share	0.88	1.38	-0.11	0.55
Cash Interest Paid	13.16	13.72	15.24	11.05
Cash Income Tax Paid	72.88	118.12	45.94	18.41
Levered Free Cash Flow	266.46	352.64	57.35	169.06
Unlevered Free Cash Flow	305.08	392.75	94.33	188.11
Change in Working Capital	-208.59	-73.01	-403.01	-156.2

Source: S&P Global Market Intelligence. Standard template. Financial Sources.