Company: TGE
Filing Date: 2025-07-10
Form Type: 424B3
Source: 0001213900-25-062835
Chunk: 301

Company: Generation Essentials Group
Filing Date: 2025-07-10
Form: 424B3
Chunk 301
---
     (81 | ) |     |         |    (280 | ) |
| Receipts of bank borrowings                                                              |     |    |       |                         |   5,303 |   |     |         |       — |   |     |         |       — |   |
| Repayment of bank borrowings                                                             |     |    |       |                         |       — |   |     |         |    (508 | ) |     |         |  (1,757 | ) |
| Repayment to subsidiaries’ non-controlling shareholders                                  |     |    |       |                         |  (6,432 | ) |     |         |  (2,059 | ) |     |         | (15,675 | ) |
| Net receipt of amount due to ultimate holding company                                    |     |    |       |                         |   3,743 |   |     |         |   2,814 |   |     |         |  34,864 |   |
| Net cash from (used in) financing activities                                             |     |    |       |                         |   1,064 |   |     |         |  (2,472 | ) |     |         |   6,232 |   |

<div align='center'>The accompanying notes are an integral part of
the combined financial statements.

F-48

THE GENERATION ESSENTIALS GROUP
consolidated STATEMENTS OF CASH FLOWS — (Continued)
FOR THE YEARS ENDED DECEMBER 31, 2022, 2023 AND 2024</div>

|                                                        |     |     | Notes | Year ended December 31, |  2022 |   |     |         |  2023 |   |     |         |   2024 |   |
|:-------------------------------------------------------|:----|:----|:------|:------------------------|------:|:--|:----|:--------|------:|:--|:----|:--------|-------:|:--|
|                                                        |     |     |       | US$’000                 |       |   |     | US$’000 |       |   |     | US$’000 |        |   |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS   |     |     |       |                         |  (110 | ) |     |         | 5,360 |   |