ChowChow Cloud International Holdings Limited (CHOW) Cash Flow Statement

NYSE American: CHOWOperating cash, capex, free cash flow and buybacks.

Where CHOW’s cash came from and went, 2025

December 31, 2025 · Hong Kong dollars

Cash from operations: −HK$56.6M
Capital expenditures: HK$11.1M
Free cash flow: −HK$67.7M
Returned to shareholders: HK$672,420
Change in cash: HK$11.1M

Cash from operations

−HK$56.6M

Capital expenditures

−HK$11.1M

Dividends

−HK$672,420

Net borrowing (repayment)

−HK$284,917

Shares issued

+HK$93.3M

Other financing

−HK$13.5M

Change in cash

HK$11.1M

Drawn to scale: where the cash came from and how it was used. Hover for values.

CHOW operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

CHOW cash flow trends, 2022–2025

ChowChow Cloud International Holdings Limited cash flow trends
Metric	Then	Latest	Change
Operating cash flow	HK$8.7M2022	−HK$56.6M2025	—
Capital expenditures	HK$1.3M2022	HK$11.1M2025	+104.6%/yr
Free cash flow	HK$7.4M2022	−HK$67.7M2025	—
Free cash flow margin	6.9%2022	−27.0%2025	−33.9 pts
Operating cash flow / net income	1.782022	0.672024	−1.12
Dividends paid	HK$02022	HK$672,4202025	—
Capex / revenue	1.2%2022	4.4%2025	+3.2 pts

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CHOW cash flow by activity

OperatingInvestingFinancingChange in cash

CHOW net income vs operating cash flow

Net incomeOperating cash flow

Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).

CHOW cash flow statement in Hong Kong dollars

ChowChow Cloud International Holdings Limited annual cash flow statement
	2025	2024	2023	2022
Operating activities
Net income	−HK$23.6M	HK$11.9M	HK$12.1M	HK$4.9M
Depreciation & amortization	HK$801,836	HK$706,694	HK$401,741	HK$12,850
Change in working capital	−HK$41.6M	−HK$5.0M	−HK$4.1M	HK$2.9M
Other non-cash items	HK$7.8M	HK$349,048	−HK$191,144	HK$956,704
Cash from operating activities	−HK$56.6M	HK$7.9M	HK$8.2M	HK$8.7M
Investing activities
Capital expenditures	−HK$11.1M	−HK$1.2M	−HK$980,807	−HK$1.3M
Acquisitions & other investing	HK$0	HK$0	HK$0	HK$0
Cash from investing activities	−HK$11.1M	−HK$1.2M	−HK$980,807	−HK$1.3M
Financing activities
Dividends paid	−HK$672,420	−HK$8.3M	−HK$8.5M	HK$0
Net borrowing (repayment)	−HK$284,917	HK$5.0M	HK$0	—
Shares issued	HK$93.3M	HK$0	HK$0	HK$0
Other financing	−HK$13.5M	−HK$2.7M	HK$2.1M	−HK$4.6M
Cash from financing activities	HK$78.8M	−HK$6.1M	−HK$6.4M	−HK$4.6M
Summary
Net change in cash	HK$11.1M	HK$648,581	HK$861,504	HK$2.8M
Cash at end of period	HK$21.6M	HK$10.5M	HK$9.9M	HK$9.0M
Free cash flow	−HK$67.7M	HK$6.7M	HK$7.3M	HK$7.4M
Free cash flow margin	−27.0%	3.7%	5.1%	6.9%
Capex / revenue	4.4%	0.7%	0.7%	1.2%
Operating cash flow / net income	—	0.67	0.68	1.78

ChowChow Cloud International Holdings Limited quarterly cash flow statement
	Dec '25	Sep '25	Dec '24	Jun '24	Dec '23	Jun '23
Operating activities
Net income	−HK$36.0M	HK$12.5M	HK$4.9M	HK$6.9M	HK$5.6M	HK$6.5M
Depreciation & amortization	HK$399,472	HK$402,997	HK$431,187	HK$274,101	HK$233,862	HK$167,499
Change in working capital	−HK$30.4M	−HK$11.2M	−HK$647,667	−HK$4.4M	HK$1.4M	−HK$5.5M
Other non-cash items	HK$7.5M	HK$228,061	HK$29,829	HK$349,609	−HK$306,813	HK$132,866
Cash from operating activities	−HK$58.5M	HK$2.0M	HK$4.7M	HK$3.2M	HK$6.9M	HK$1.3M
Investing activities
Capital expenditures	−HK$9,673	HK$0	−HK$15,255	−HK$32	−HK$3,934	−HK$38,367
Acquisitions & other investing	−HK$11.1M	—	−HK$4,863	−HK$1.2M	−HK$2,358	−HK$938,160
Cash from investing activities	−HK$11.1M	—	−HK$20,118	−HK$1.2M	−HK$6,292	−HK$976,527
Financing activities
Dividends paid	−HK$51,781	−HK$622,290	−HK$2.9M	−HK$5.5M	−HK$8.5M	—
Shares issued	HK$0	HK$0	HK$0	HK$0	HK$0	HK$0
Other financing	HK$79.3M	HK$4,005	−HK$2.7M	HK$5.0M	HK$6.3M	−HK$4.2M
Cash from financing activities	HK$79.3M	−HK$618,285	−HK$5.6M	−HK$463,987	−HK$2.2M	−HK$4.2M
Summary
Net change in cash	HK$9.8M	HK$1.2M	−HK$830,240	HK$1.5M	HK$9.9M	—
Cash at end of period	HK$21.6M	HK$11.8M	HK$10.5M	HK$11.4M	HK$9.9M	—
Free cash flow	−HK$58.5M	HK$2.0M	HK$4.7M	HK$3.2M	HK$6.9M	HK$1.3M
Free cash flow margin	−80.3%	1.1%	5.7%	3.3%	13.3%	1.4%
Capex / revenue	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating cash flow / net income	—	0.16	0.96	0.46	1.24	0.20

Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Hong Kong dollars as reported; data from EODHD.

CHOW cash generation

In fiscal 2025 (ended December 31, 2025), ChowChow Cloud International generated -HK$56.6 million of cash from operations (down 813.5%) and spent HK$11.1 million on capital expenditures, leaving free cash flow of -HK$67.7 million, −27.0% of revenue. It returned HK$0.7 million to shareholders through dividends (HK$0.7 million) and net share buybacks (HK$0). Cash and equivalents rose by HK$11.1 million over the year.

Related: CHOW income statement, CHOW balance sheet. See the CHOW stock overview for the latest quote and news.

CHOW cash flow FAQ

What is ChowChow Cloud International's free cash flow?

ChowChow Cloud International's free cash flow was -HK$67.7 million in fiscal 2025: -HK$56.6 million of operating cash flow minus HK$11.1 million of capital expenditures It was HK$6.7 million a year earlier..

How much cash does ChowChow Cloud International generate from operations?

ChowChow Cloud International generated -HK$56.6 million of cash from operating activities in fiscal 2025.

How much does ChowChow Cloud International spend on capital expenditures?

ChowChow Cloud International spent HK$11.1 million on capital expenditures in fiscal 2025, 4.4% of revenue, compared with HK$1.2 million the year before.

How much does ChowChow Cloud International pay in dividends?

ChowChow Cloud International paid HK$0.7 million in dividends in fiscal 2025.