Company: TGE
Filing Date: 2025-12-03
Form Type: 424B3
Source: 0001213900-25-117807
Chunk: 252

Company: Generation Essentials Group
Filing Date: 2025-12-03
Form: 424B3
Chunk 252
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 |         | (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-26

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 |   |     |         | 14,111 |   |
| Cash and cash equivalents at the beginning of the year |     |     |       |                         | 1,268 |   |     |         | 1,208 |   |     |         |  6,121 |   |
| Effect of foreign exchange rate change,                
 net                                                    |     |     |       |                         |    50 |   |     |         |  (447 | ) |     |         |   (254 | ) |
| CASH AND CASH EQUIVALENTS AT THE END                   
 OF THE YEAR                                            |     |     |       |                         | 1,208 |   |