Tian Cheng Holdings Cash Flow Statement

Financials in millions HKD. Fiscal year is June - May.

Millions HKD. Fiscal year is Jun - May.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '25 Nov 30, 2025	May '25 May 31, 2025	May '24 May 31, 2024	May '23 May 31, 2023	May '22 May 31, 2022	May '21 May 31, 2021
Net Income	-42.3	-34.48	-44.14	-87.05	16.68	37.64
Depreciation & Amortization	7.36	9.16	14.26	15.61	10.55	7.92
Loss (Gain) From Sale of Assets	1.11	1.11	-3.15	0.18	0.47	0.02
Asset Writedown & Restructuring Costs	1.01	1.01	3.56	12.8	-	-
Stock-Based Compensation	0.98	0.98	-	-	-	-
Provision & Write-off of Bad Debts	1.63	1.63	-1.55	1.61	-	-
Other Operating Activities	-0.11	-1.76	-1.81	-5.21	-4.19	6.23
Change in Accounts Receivable	11.98	11.98	3.24	18.56	15.82	-32.32
Change in Inventory	-0.63	-0.63	-	-	-	-
Change in Accounts Payable	-2.35	-2.35	2.89	3.8	-24.82	14.79
Change in Other Net Operating Assets	-	-	-	10	-10	-
Operating Cash Flow	-21.32	-13.35	-26.7	-29.7	4.52	34.28
Operating Cash Flow Growth	-	-	-	-	-86.82%	13.33%
Capital Expenditures	-	-	-0.1	-11.13	-28.48	-14.11
Sale of Property, Plant & Equipment	7.32	10.82	8.58	0.36	0.01	-
Other Investing Activities	0.36	0.56	0.32	0.99	0.3	-9.9
Investing Cash Flow	7.68	11.38	8.8	-9.77	-28.18	-24.01
Short-Term Debt Issued	-	1	1.34	-	-	-
Total Debt Issued	1	1	1.34	-	-	-
Short-Term Debt Repaid	-	-	-	-	-	-6.73
Long-Term Debt Repaid	-	-2.41	-2.6	-1.84	-0.61	-0.46
Total Debt Repaid	-3.71	-2.41	-2.6	-1.84	-0.61	-7.2
Net Debt Issued (Repaid)	-2.71	-1.41	-1.26	-1.84	-0.61	-7.2
Issuance of Common Stock	6.95	3.31	12.01	-	-	104.01
Common Dividends Paid	-	-	-	-	-25	-10.11
Other Financing Activities	-0.37	-0.41	-0.7	-0.18	-0.06	-3.47
Financing Cash Flow	3.87	1.49	10.06	-2.02	-25.68	83.24
Foreign Exchange Rate Adjustments	0.06	0.01	-0.02	-	-	-
Net Cash Flow	-9.71	-0.48	-7.87	-41.49	-49.34	93.5
Free Cash Flow	-21.32	-13.35	-26.79	-40.83	-23.97	20.17
Free Cash Flow Growth	-	-	-	-	-	21.83%
Free Cash Flow Margin	-13.85%	-6.58%	-12.00%	-20.62%	-11.29%	5.83%
Free Cash Flow Per Share	-0.07	-0.05	-0.11	-0.18	-0.11	0.10
Cash Interest Paid	0.14	0.18	0.28	0.18	0.06	0.21
Cash Income Tax Paid	-	-0.01	-	2.49	7.45	4.99
Levered Free Cash Flow	-10.5	-4.52	-12.92	-20.58	-34.36	46.97
Unlevered Free Cash Flow	-10.41	-4.41	-12.75	-20.47	-34.32	47.1
Change in Working Capital	9.01	9.01	6.13	32.36	-19	-17.53

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