Town Ray Holdings Limited (HKG:1692)

Town Ray Holdings Cash Flow Statement

Financials in millions HKD. Fiscal year is January - December.

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	51.44	62.58	107.61	122.21	134.31	106.5
Depreciation & Amortization	35.96	34.16	31.04	28.74	27.92	25.85
Loss (Gain) From Sale of Assets	0.07	0.07	0.04	0.02	0.63	-
Asset Writedown & Restructuring Costs	0.1	0.1	0.01	-	-	-
Provision & Write-off of Bad Debts	-1.65	-1.65	3.2	-0.69	1.02	-0.36
Other Operating Activities	-71.51	-2.97	-18.88	8.74	13.19	-3.49
Change in Accounts Receivable	26.13	26.13	-68.23	31.71	19.92	-27.89
Change in Inventory	28.45	28.45	-35.92	67.53	37.98	-120.12
Change in Accounts Payable	14.55	14.55	16.77	-35.95	-3.29	13.7
Change in Other Net Operating Assets	-2.69	-2.69	-12.53	-25.59	25.97	22.62
Operating Cash Flow	80.86	158.74	23.11	196.7	257.65	16.82
Operating Cash Flow Growth	-17.44%	586.88%	-88.25%	-23.66%	1431.52%	-85.60%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-9.76	-14.73	-22.7	-13.57	-45.76	-39.61
Sale of Property, Plant & Equipment	0.35	0.36	0.03	0.08	0.05	-
Sale (Purchase) of Real Estate	-	-	-2.21	-	-	-
Other Investing Activities	-8.58	-3.82	-18.54	8.08	-48.48	2.27
Investing Cash Flow	-17.99	-18.19	-43.43	-5.41	-94.19	-37.34

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	107.16	71.95	4.48	189.76	109.52
Total Debt Issued	56.37	107.16	71.95	4.48	189.76	109.52
Short-Term Debt Repaid	-	-120.84	-53.36	-18.85	-234.15	-68.98
Long-Term Debt Repaid	-	-15.68	-13.78	-11.91	-12.52	-12.72
Lease Payments	-16.35	-15.68	-13.78	-11.91	-12.52	-12.72
Total Debt Repaid	-72.9	-136.53	-67.14	-30.75	-246.67	-81.7
Net Debt Issued (Repaid)	-16.53	-29.37	4.81	-26.28	-56.91	27.82
Common Dividends Paid	-52.06	-82.93	-93.7	-123.14	-96.21	-86.88
Other Financing Activities	-2.21	-2.96	-2.31	-2.59	-4.03	-0.79
Financing Cash Flow	-70.79	-115.25	-91.2	-152	-157.15	-59.85

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	6.64	2.45	-0.31	-0.49	-2.31	1.34
Net Cash Flow	-1.29	27.75	-111.83	38.8	4	-79.02

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	71.1	144.01	0.41	183.13	211.89	-22.78
Free Cash Flow Growth	-16.43%	35370.20%	-99.78%	-13.58%	-	-
Free Cash Flow Margin	10.89%	21.41%	0.06%	26.00%	25.73%	-2.99%
Free Cash Flow Per Share	0.20	0.40	0.00	0.51	0.59	-0.06
Levered Free Cash Flow	50.78	120.08	-31.54	156.21	178.69	-55.16
Unlevered Free Cash Flow	52.16	121.93	-30.09	157.83	181.17	-54.64
Free Cash Flow After Leases	54.75	128.33	-13.37	171.22	199.37	-35.5

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	2.21	2.96	2.31	2.59	4.03	0.79
Cash Income Tax Paid	11.96	11.96	32.19	27.18	18.07	21.27
Change in Working Capital	66.45	66.45	-99.92	37.69	80.58	-111.68

Data Source: S&P Global Market Intelligence Last updated: Sep 24, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Oct 5, 2026

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