Steve Leung Design Group 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	11.19	1.81	-18.84	-62.44	2.94
Depreciation & Amortization	22.63	24.59	25.63	35.73	39.79
Other Amortization	0.37	0.39	0.41	0.42	0.48
Loss (Gain) From Sale of Assets	1.1	-0.04	0.21	0.02	0.07
Loss (Gain) From Sale of Investments	-	-	-	-	-0.31
Loss (Gain) on Equity Investments	-0.27	-	-	-	-
Stock-Based Compensation	-	-	-	1.57	-
Provision & Write-off of Bad Debts	15.96	6.45	24.72	30.35	40.17
Other Operating Activities	2.52	10.6	-1.85	3.49	-15.57
Change in Accounts Receivable	-25.83	-21.85	-4.61	-49.83	-2.93
Change in Inventory	0.01	0.02	-0.01	-0.01	0.15
Change in Accounts Payable	15.34	6.71	3.18	3.74	4.23
Change in Unearned Revenue	1.24	4.99	-8.67	0.99	6.02
Change in Other Net Operating Assets	3.09	-3.68	1.55	1.3	-8.2
Operating Cash Flow	47.35	29.99	21.72	-34.66	66.83
Operating Cash Flow Growth	57.85%	38.07%	-	-	19.06%
Capital Expenditures	-1.42	-2.56	-1.09	-4.82	-5.88
Sale of Property, Plant & Equipment	3.04	0.19	0.14	0	0.05
Sale (Purchase) of Intangibles	-0	-0.01	-0.08	-0	-
Investment in Securities	-0.01	-	-	30.3	-29.88
Other Investing Activities	0.18	0.26	0.35	0.43	6.37
Investing Cash Flow	1.78	-2.11	-0.67	25.92	-29.33
Short-Term Debt Issued	15	265	170	170	140
Total Debt Issued	15	265	170	170	140
Short-Term Debt Repaid	-35	-275	-170	-160	-146.91
Long-Term Debt Repaid	-18.13	-21.07	-19.99	-25.06	-24.96
Total Debt Repaid	-53.13	-296.07	-189.99	-185.06	-171.87
Net Debt Issued (Repaid)	-38.13	-31.07	-19.99	-15.06	-31.87
Issuance of Common Stock	-	-	-	-	0.21
Common Dividends Paid	-	-	-	-57.07	-34.23
Other Financing Activities	-0.89	-3.57	-4.43	-3.68	-4.01
Financing Cash Flow	-39.01	-34.64	-24.42	-75.82	-69.9
Foreign Exchange Rate Adjustments	2.34	-1.25	-1.08	-8.77	3.79
Net Cash Flow	12.45	-8.01	-4.45	-93.32	-28.6
Free Cash Flow	45.92	27.44	20.64	-39.47	60.96
Free Cash Flow Growth	67.37%	32.95%	-	-	40.78%
Free Cash Flow Margin	10.86%	7.46%	5.80%	-10.36%	13.40%
Free Cash Flow Per Share	0.04	0.02	0.02	-0.04	0.05
Cash Interest Paid	1.96	3.57	4.43	3.68	4.01
Cash Income Tax Paid	8.97	3.43	7.88	3.45	20.65
Levered Free Cash Flow	40.15	27.9	32.39	2.58	64.1
Unlevered Free Cash Flow	41.37	30.14	35.16	4.88	66.6
Change in Working Capital	-6.15	-13.81	-8.56	-43.8	-0.73

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