China Tangshang Holdings Cash Flow Statement

Financials in millions HKD. Fiscal year is April - March.

Millions HKD. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Net Income	-62.08	-89.06	-115.06	30.37	8.02	-13.35
Depreciation & Amortization	0.83	1.67	2.13	2.23	2.8	2.37
Loss (Gain) From Sale of Assets	-1.71	-1.71	-0.08	-	1.08	-37.75
Asset Writedown & Restructuring Costs	34.67	34.67	50.21	22.65	11.55	56.66
Provision & Write-off of Bad Debts	1.62	1.62	-0.07	-5.78	-	2.61
Other Operating Activities	189.56	150.6	133.03	74.08	43.36	-30.97
Change in Accounts Receivable	-155.06	-155.06	-361.15	291.83	53.71	-259.14
Change in Inventory	460.52	460.52	904.39	434.69	-19.58	-110.29
Change in Accounts Payable	-1.39	-1.39	-192.37	-48.11	72.92	43.71
Change in Unearned Revenue	-471.22	-471.22	-660.85	-506.14	124.82	420.4
Change in Other Net Operating Assets	53	53	18	61.4	50.22	-105.61
Operating Cash Flow	48.74	-16.34	-221.84	357.21	355.1	-31.18
Operating Cash Flow Growth	-	-	-	0.60%	-	-
Capital Expenditures	-	-	-	-	-0.24	-6.86
Sale of Property, Plant & Equipment	-	-	-	-	-	0.09
Cash Acquisitions	-	-	-	144.2	-	-195.34
Divestitures	-0.03	-	-0.12	-	-0.02	-1.7
Sale (Purchase) of Real Estate	-	-	-	-	-	-4.45
Other Investing Activities	-0.25	0	25.78	-74.66	7.02	-28.24
Investing Cash Flow	-0.27	0	25.66	69.54	6.77	-236.51
Short-Term Debt Issued	-	-	-	-	26.78	380.58
Total Debt Issued	-	-	-	-	26.78	380.58
Short-Term Debt Repaid	-	-	-	-91.71	-225.97	-151.76
Long-Term Debt Repaid	-	-63.17	-30.39	-28.93	-30.65	-23.88
Total Debt Repaid	-57.62	-63.17	-30.39	-120.64	-256.62	-175.64
Net Debt Issued (Repaid)	-57.62	-63.17	-30.39	-120.64	-229.84	204.94
Other Financing Activities	-19.58	-23.37	-29.58	-33.71	-51.06	-30.15
Financing Cash Flow	-77.2	-86.54	-59.97	-154.35	-280.89	174.79
Foreign Exchange Rate Adjustments	7.47	2.95	-14.19	-7.81	2.19	4.05
Net Cash Flow	-21.26	-99.93	-270.34	264.59	83.17	-88.84
Free Cash Flow	48.74	-16.34	-221.84	357.21	354.86	-38.03
Free Cash Flow Growth	-	-	-	0.66%	-	-
Free Cash Flow Margin	10.64%	-2.81%	-25.28%	54.89%	139.73%	-66.71%
Free Cash Flow Per Share	0.01	-0.01	-0.07	0.13	0.15	-0.02
Cash Interest Paid	19.83	23.37	29.58	33.71	51.06	30.15
Cash Income Tax Paid	5.75	6.98	32.39	50.78	15.01	10.25
Levered Free Cash Flow	10.01	-44.6	-204.7	-488.48	197.27	-601.3
Unlevered Free Cash Flow	31.95	-20.8	-177.68	-467.22	220.3	-589.15
Change in Working Capital	-114.15	-114.15	-291.99	233.66	282.09	-10.94

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.