Asia Financial Holdings 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	1,053	647.07	346.75	123.2	677.62
Depreciation & Amortization	18.42	16.14	16.45	15.68	13.4
Gain (Loss) on Sale of Assets	0.01	0.02	0.31	-0.09	0.04
Gain (Loss) on Sale of Investments	-118.16	15.38	-49.97	-0.19	3.95
Change in Accounts Receivable	-	-	-	-	18.27
Reinsurance Recoverable	-647.42	31.27	-255.97	133.35	-62.64
Change in Insurance Reserves / Liabilities	731.11	399.52	271.28	-133.53	303.35
Change in Other Net Operating Assets	157.73	17.25	-461.22	-960.46	-117.76
Other Operating Activities	-413.87	-244.66	-284.08	-273.33	-376.5
Operating Cash Flow	-99.36	131.98	-602.02	-1,113	-110.51
Capital Expenditures	-15.58	-12.3	-14.93	-9.77	-5.47
Sale of Property, Plant & Equipment	0.07	-	-	0.42	-
Investment in Securities	101.98	-328.83	-104.71	-63.22	-218.05
Other Investing Activities	395.37	373.39	292.74	325.29	409.93
Investing Cash Flow	481.83	32.26	173.11	252.72	186.41
Total Debt Repaid	-2.11	-2.18	-2.5	-3.26	-1.63
Net Debt Issued (Repaid)	-2.11	-2.18	-2.5	-3.26	-1.63
Repurchases of Common Stock	-2.04	-16.29	-24.96	-9.41	-25.94
Common Dividends Paid	-143.26	-97.44	-69.98	-112.62	-103.6
Other Financing Activities	-0.16	-0.14	-0.11	-0.13	0.53
Financing Cash Flow	-147.57	-116.06	-97.55	-125.43	-130.64
Net Cash Flow	234.9	48.18	-526.46	-985.69	-54.74
Free Cash Flow	-114.94	119.68	-616.95	-1,123	-115.98
Free Cash Flow Margin	-3.01%	3.18%	-22.09%	-49.95%	-6.60%
Free Cash Flow Per Share	-0.12	0.13	-0.66	-1.20	-0.12
Cash Interest Paid	0.16	0.14	0.11	0.13	0.09
Cash Income Tax Paid	12.72	7.13	15.67	13.93	39.74
Levered Free Cash Flow	-672.59	-418.89	-27.45	-1,042	69.84
Unlevered Free Cash Flow	-672.49	-418.8	-27.38	-1,042	69.9
Change in Working Capital	-552.75	-258.4	-689.09	-1,079	-194.72

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