S.A.S. Dragon 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	501.24	403.8	400.34	713.19
Depreciation & Amortization	36.39	45.27	46.26	47.3
Loss (Gain) From Sale of Assets	-0.28	-1.33	-0.62	-1.22
Asset Writedown & Restructuring Costs	76.94	51.55	65.61	40.61
Loss (Gain) From Sale of Investments	-1.81	37.1	23.01	-54.88
Loss (Gain) on Equity Investments	-7	-8.15	10.61	8.43
Other Operating Activities	108.6	124.3	330.28	388.65
Change in Accounts Receivable	296.11	-292.55	431.24	-578.02
Change in Inventory	-1,147	648.75	193.33	-911.68
Change in Accounts Payable	705.97	137.83	-342.38	421.82
Change in Unearned Revenue	-18.48	-119.2	-157.69	318.45
Change in Other Net Operating Assets	0.19	2.73	-0.21	-0.04
Operating Cash Flow	552.81	1,040	995.29	348.3
Operating Cash Flow Growth	-46.83%	4.46%	185.76%	4.90%
Capital Expenditures	-3.48	-3.07	-16.13	-10.51
Sale of Property, Plant & Equipment	0.45	1.37	0.85	0.02
Cash Acquisitions	21.42	-	-	-
Sale (Purchase) of Intangibles	-	-3.02	-	-
Sale (Purchase) of Real Estate	-	-1.91	-2.55	-10.81
Investment in Securities	-35.76	-21.72	-1.15	-3.06
Other Investing Activities	26.35	59.66	1.26	16.13
Investing Cash Flow	12.91	38.22	-5.8	17.83
Long-Term Debt Issued	28,947	24,095	33,963	38,042
Long-Term Debt Repaid	-27,790	-24,658	-34,881	-37,558
Net Debt Issued (Repaid)	1,157	-563.12	-917.3	483.91
Common Dividends Paid	-250.34	-219.04	-250.34	-197.14
Other Financing Activities	-124.92	-146.3	-118.78	-62.87
Financing Cash Flow	781.74	-928.46	-1,286	223.9
Foreign Exchange Rate Adjustments	-0.53	-1.29	-30.03	1.97
Net Cash Flow	1,347	148.12	-326.95	592
Free Cash Flow	549.33	1,037	979.16	337.79
Free Cash Flow Growth	-47.01%	5.86%	189.87%	5.05%
Free Cash Flow Margin	1.98%	4.63%	3.92%	0.96%
Free Cash Flow Per Share	0.88	1.66	1.56	0.54
Cash Interest Paid	68.63	86.4	56.28	34.13
Cash Income Tax Paid	206.02	219.08	65.49	88.85
Levered Free Cash Flow	220.75	1,289	747.34	106.96
Unlevered Free Cash Flow	263.64	1,343	782.52	128.29
Change in Working Capital	-163.37	377.56	122.48	-793.36

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