HIGEN Motor Cash Flow Statement

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. 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	-7,065	-1,084	2,630	3,997	1,011
Depreciation & Amortization	2,234	1,972	1,916	1,972	2,004
Loss (Gain) From Sale of Assets	38.42	-	0.74	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	-353.08
Loss (Gain) From Sale of Investments	4.05	22.49	-25.54	-	-
Loss (Gain) on Equity Investments	-	-	-	95.5	120.63
Stock-Based Compensation	61.95	35.71	-	-	-
Provision & Write-off of Bad Debts	6.07	-	-103.64	151.51	-24.24
Other Operating Activities	-1,138	2,038	1,785	1,230	2,589
Change in Accounts Receivable	-6,261	-7,225	2,128	4,985	189.67
Change in Inventory	172.46	-1,830	779.63	2,092	-8,071
Change in Accounts Payable	3,576	5,652	-1,191	-6,438	1,736
Change in Other Net Operating Assets	-1,314	-2,213	-873.8	-1,078	-907.72
Operating Cash Flow	-9,685	-2,633	7,046	7,007	-1,704
Operating Cash Flow Growth	-	-	0.56%	-	-
Capital Expenditures	-5,255	-1,177	-1,299	-828.18	-867.15
Sale of Property, Plant & Equipment	-	-	8.73	40.17	-
Sale (Purchase) of Intangibles	-72.53	-726.03	-9.26	-	-
Investment in Securities	-27,082	-15,165	1,957	-10,018	-0.71
Other Investing Activities	-	-0	168	0	-
Investing Cash Flow	-32,409	-17,067	825.54	-10,806	-867.86
Long-Term Debt Issued	4,000	-	4,000	-	-
Total Debt Issued	4,000	-	4,000	-	-
Short-Term Debt Repaid	-2,000	-	-6,000	-3,000	-
Long-Term Debt Repaid	-4,978	-11,314	-2,915	-1,752	-1,979
Total Debt Repaid	-6,978	-11,314	-8,915	-4,752	-1,979
Net Debt Issued (Repaid)	-2,978	-11,314	-4,915	-4,752	-1,979
Issuance of Common Stock	57,597	23,367	-	-	-
Other Financing Activities	-0	-	-	-	-
Financing Cash Flow	54,619	12,053	-4,915	-4,752	-1,979
Foreign Exchange Rate Adjustments	-28.64	140.26	-34.97	-167.92	78.2
Net Cash Flow	12,496	-7,506	2,922	-8,718	-4,474
Free Cash Flow	-14,940	-3,809	5,748	6,179	-2,572
Free Cash Flow Growth	-	-	-6.98%	-	-
Free Cash Flow Margin	-20.31%	-5.02%	7.44%	7.06%	-3.02%
Free Cash Flow Per Share	-531.50	-145.48	235.69	253.39	-101.93
Cash Interest Paid	1,169	1,646	2,135	1,506	1,065
Cash Income Tax Paid	289.87	59.25	109.91	20.43	-196.19
Levered Free Cash Flow	-1,270	-5,365	3,987	4,169	-3,245
Unlevered Free Cash Flow	-545.53	-4,358	5,327	5,131	-2,576
Change in Working Capital	-3,827	-5,617	842.96	-438.67	-7,053

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.