Progressive Path Group Holdings Limited (HKG:1581)

Acelyrin Cash Flow Statement

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Net Income	34.1	22.22	-21.96	12.13	3.74
Depreciation & Amortization	97.97	102.24	98.17	71.66	60.09
Loss (Gain) From Sale of Assets	-1.9	-0.51	-0.65	-3.3	-1.48
Provision & Write-off of Bad Debts	4.37	1.53	9.94	-1.6	9.11
Other Operating Activities	5.68	15.52	-0.2	5.58	-9.75
Change in Accounts Receivable	-52.77	-70.66	-29.67	-9.65	-25.1
Change in Accounts Payable	20.99	33.7	21.44	0.91	11.59
Change in Other Net Operating Assets	-0.92	-1.71	1.6	-0.05	2.12
Operating Cash Flow	107.52	102.34	78.68	75.68	50.32
Operating Cash Flow Growth	5.06%	30.06%	3.96%	50.41%	-28.66%
Capital Expenditures	-31.75	-13.87	-41.16	-42.84	-33.27
Sale of Property, Plant & Equipment	2.32	0.61	1.1	7.04	5.64
Other Investing Activities	3.45	-4.71	-3.54	-5.46	3.27
Investing Cash Flow	-25.98	-17.97	-43.61	-41.26	-24.36
Short-Term Debt Issued	266.24	240.49	188.01	123.41	89.98
Total Debt Issued	266.24	240.49	188.01	123.41	89.98
Short-Term Debt Repaid	-281.72	-243.34	-189.2	-85.18	-76.32
Long-Term Debt Repaid	-61.49	-65.93	-75.78	-66.99	-44.03
Total Debt Repaid	-343.2	-309.27	-264.98	-152.16	-120.35
Net Debt Issued (Repaid)	-76.96	-68.79	-76.97	-28.75	-30.37
Issuance of Common Stock	-	-	53.95	-	-
Other Financing Activities	-2.64	-14.43	-2	-5.2	7.69
Financing Cash Flow	-79.6	-83.22	-25.02	-33.95	-22.68
Net Cash Flow	1.94	1.15	10.05	0.48	3.27
Free Cash Flow	75.77	88.47	37.52	32.85	17.05
Free Cash Flow Growth	-14.36%	135.78%	14.23%	92.63%	-37.36%
Free Cash Flow Margin	8.29%	12.14%	7.34%	6.37%	3.91%
Free Cash Flow Per Share	0.18	0.21	0.12	0.16	0.08
Cash Interest Paid	10.75	14.65	10.57	6.48	5.32
Cash Income Tax Paid	0.42	0.19	0.14	0.21	-0.02
Levered Free Cash Flow	72.14	68.03	42.58	19.88	15.04
Unlevered Free Cash Flow	78.86	77.18	49.18	23.92	18.37
Change in Net Working Capital	8.44	32.45	-11.02	12.19	2.82

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