Tian Chang Group Holdings Cash Flow Statement

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

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-14.46	-13.67	23.46	105.95	96.26
Depreciation & Amortization	48.94	50.9	50.71	49.63	51.02
Loss (Gain) From Sale of Assets	-	0.12	0.03	0.42	0.24
Asset Writedown & Restructuring Costs	0	0.02	0.19	0.57	8.33
Loss (Gain) From Sale of Investments	-0.47	-0.86	-0.95	-0.91	-0.87
Stock-Based Compensation	-	-	-	-	0.5
Provision & Write-off of Bad Debts	0.84	1.85	-0.57	-0.22	0.35
Other Operating Activities	12.63	3.14	1.93	-1.98	1.36
Change in Accounts Receivable	13.18	-25.55	121.18	-11.97	-57.68
Change in Inventory	6.42	1.38	42.93	23.92	-75.68
Change in Accounts Payable	-28.11	18.27	-142.64	-15.62	78.12
Change in Other Net Operating Assets	-	-	-	-	-7.67
Operating Cash Flow	38.98	35.61	96.26	149.81	94.28
Operating Cash Flow Growth	9.46%	-63.01%	-35.74%	58.90%	11.86%
Capital Expenditures	-1.3	-4.46	-5.22	-4.96	-62.49
Sale of Property, Plant & Equipment	-	0.1	0.03	0.11	0.59
Cash Acquisitions	-	-	0.07	-	-
Investment in Securities	-	7.16	-	-	-
Other Investing Activities	1.7	3.04	3.18	1.14	5.37
Investing Cash Flow	0.4	5.84	-0.32	-1.29	-54.1
Long-Term Debt Issued	-	27.89	48.68	248.48	302
Long-Term Debt Repaid	-33.87	-62.26	-123.83	-368.26	-330.6
Net Debt Issued (Repaid)	-33.87	-34.37	-75.15	-119.78	-28.6
Common Dividends Paid	-	-9.3	-12.4	-12.4	-9.3
Other Financing Activities	-1.23	-2.7	-5.23	-6.65	-7.25
Financing Cash Flow	-35.09	-46.37	-92.79	-138.83	-45.15
Foreign Exchange Rate Adjustments	-1.49	1.79	1.06	4.02	2.68
Net Cash Flow	2.79	-3.14	4.22	13.7	-2.3
Free Cash Flow	37.67	31.15	91.05	144.85	31.79
Free Cash Flow Growth	20.95%	-65.79%	-37.14%	355.67%	-
Free Cash Flow Margin	7.26%	5.77%	13.05%	12.66%	2.84%
Free Cash Flow Per Share	0.06	0.05	0.14	0.23	0.05
Cash Interest Paid	1.23	2.7	5.23	6.65	7.25
Cash Income Tax Paid	5.69	-2.21	5.77	18.83	28.45
Levered Free Cash Flow	32.93	40.92	80.64	138.64	-6.53
Unlevered Free Cash Flow	33.76	42.67	84.03	143.15	-1.74
Change in Working Capital	-8.51	-5.91	21.47	-3.67	-62.92

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