If no there was foreign exchange losses that net profit would be 24m++, comparable to previous quarters despite inflationary pressure. Short term borrowing increasing due to capex, that explains negative FCF. Overall, I think tguan has done fairly well compared to other plastic players.

Thong Guan 历史和未来发展
https://penang.chinapress.com.my/20230106/%e3%80%90%e5%84%92%e5%95%86%e5%85%b8%e8%8c%83%e3%80%91%e9%80%9a%e6%ba%90%e4%bb%8e%e5%ae%b6%e6%97%8f%e7%94%9f%e6%84%8f-%e6%88%90%e9%80%be10%e4%ba%bf%e8%90%a5%e4%b8%9a%e9%a2%9d%e5%a4%a7%e4%bc%81/