Shenzhen Investment 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	-1,823	-261.4	2,085	-2,722
Depreciation & Amortization	347.4	331.7	384.79	365.6
Other Amortization	30.33	25.63	29.24	48.37
Loss (Gain) From Sale of Assets	-0.18	3.92	-1.81	0.42
Asset Writedown & Restructuring Costs	227.88	-554.65	351.89	771.11
Loss (Gain) From Sale of Investments	1,160	75.03	355.85	6,374
Loss (Gain) on Equity Investments	1,135	682.7	-391.44	-843.45
Stock-Based Compensation	0.04	0.23	0.68	3.46
Provision & Write-off of Bad Debts	4.05	17.84	56	4.84
Other Operating Activities	-1,526	-3,319	-621.27	2,378
Change in Accounts Receivable	765.4	426.43	-1,427	-83.85
Change in Inventory	-3,659	-7,671	-19,260	-10,094
Change in Accounts Payable	-115.28	-186.46	2,290	831.58
Change in Unearned Revenue	4,446	18,066	-6,127	-6,211
Change in Other Net Operating Assets	-2,830	-3,240	9,035	2,514
Operating Cash Flow	-1,836	4,397	-13,240	-6,662
Capital Expenditures	-926.33	-443.3	-1,021	-353.33
Sale of Property, Plant & Equipment	0.17	0.21	0.05	0.06
Sale (Purchase) of Real Estate	-369.32	1,948	-	-
Investment in Securities	-12.32	-467.33	-92.33	-57.35
Other Investing Activities	-85.08	-684.79	1,422	241.69
Investing Cash Flow	-1,393	353.24	308.95	-168.93
Short-Term Debt Issued	40.25	67.32	340.66	524.39
Long-Term Debt Issued	22,119	34,343	45,657	50,376
Total Debt Issued	22,159	34,410	45,998	50,900
Short-Term Debt Repaid	-1,099	-4,719	-40.57	-56.91
Long-Term Debt Repaid	-22,134	-33,496	-37,196	-39,364
Total Debt Repaid	-23,234	-38,215	-37,237	-39,421
Net Debt Issued (Repaid)	-1,074	-3,805	8,761	11,480
Repurchase of Common Stock	-	-	-1.85	-
Common Dividends Paid	-622.92	-1,246	-978.87	-1,602
Other Financing Activities	-121.26	-165.54	-192.54	-352.86
Financing Cash Flow	-1,819	-5,216	7,588	9,525
Foreign Exchange Rate Adjustments	-219.98	-148.54	-2,906	1,057
Net Cash Flow	-5,268	-614.41	-8,249	3,751
Free Cash Flow	-2,763	3,954	-14,261	-7,015
Free Cash Flow Margin	-17.75%	24.97%	-45.21%	-21.89%
Free Cash Flow Per Share	-0.31	0.44	-1.60	-0.79
Cash Interest Paid	2,075	3,391	1,784	1,189
Cash Income Tax Paid	2,036	3,325	5,228	3,770
Levered Free Cash Flow	-5,285	11,575	-14,368	-5,049
Unlevered Free Cash Flow	-4,421	12,353	-13,760	-4,589
Change in Working Capital	-1,393	7,395	-15,489	-13,043

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