Z Fin 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	3,969	-278.24	-142.41	190.71
Depreciation & Amortization	20.58	23.45	25.95	32.59
Gain (Loss) on Sale of Assets	-1.02	-0.42	0.56	-
Gain (Loss) on Sale of Investments	82	184.51	-74.21	-449.22
Asset Writedown	100.17	253.48	11.47	-2.41
Income (Loss) on Equity Investments	70.51	-29.58	59.91	193.18
Change in Accounts Receivable	0.78	19.43	-5.23	7.46
Change in Accounts Payable	65.85	-22.34	3.21	-27.06
Change in Other Net Operating Assets	31.81	41.73	-8.81	-142.79
Other Operating Activities	-4,256	-20.85	-104.56	-30.25
Operating Cash Flow	76.06	164.83	-11.37	6.65
Operating Cash Flow Growth	-53.86%	-	-	-97.67%
Acquisition of Real Estate Assets	-10.62	-3.38	-3.95	-2.63
Sale of Real Estate Assets	0.77	0.42	0.57	0.12
Net Sale / Acq. of Real Estate Assets	-9.85	-2.96	-3.39	-2.51
Cash Acquisition	100.97	-	-	-
Investment in Marketable & Equity Securities	88.3	-625.7	-421.94	-956.66
Other Investing Activities	1,032	-170.47	-261.26	141.11
Investing Cash Flow	1,212	-799.13	-686.59	-818.07
Short-Term Debt Issued	1,319	515	270	955
Long-Term Debt Issued	200	-	-	-
Total Debt Issued	1,519	515	270	955
Short-Term Debt Repaid	-2,336	-102.9	-71.4	-685
Long-Term Debt Repaid	-1.64	-1.84	-4.16	-9.76
Total Debt Repaid	-2,338	-104.74	-75.56	-694.76
Net Debt Issued (Repaid)	-819.1	410.26	194.44	260.24
Issuance of Common Stock	-	-	-	793.21
Other Financing Activities	-357.26	-101.08	-93.2	-17.77
Foreign Exchange Rate Adjustments	-9.93	-8.38	-96.53	39.47
Net Cash Flow	101.62	-333.51	-693.25	263.72
Cash Interest Paid	84.24	83.32	35.27	17.77
Cash Income Tax Paid	83.87	37.34	70.01	42.94
Levered Free Cash Flow	-2,710	-847.14	-82.6	935.94
Unlevered Free Cash Flow	-2,664	-792.67	-53.85	948.12
Change in Working Capital	91.63	32.49	-11.03	-124.08

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