CHANG TYPE Industrial Cash Flow Statement

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

Millions TWD. 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	182.7	83.7	115.19	272.06	299.26
Depreciation & Amortization	114.95	122.12	117.5	117.49	77.06
Loss (Gain) From Sale of Assets	-	-1.46	0	-0.14	-0.43
Provision & Write-off of Bad Debts	13.26	20.55	9.45	-	4.18
Other Operating Activities	18.52	6.61	19.8	58.84	-72.47
Change in Accounts Receivable	-184.33	267.18	-455.67	1,499	-521
Change in Inventory	159.16	385.6	213.15	94.08	-711.48
Change in Accounts Payable	-10.54	-55.06	164.84	-489.19	205.58
Change in Unearned Revenue	-0.01	0.01	0.08	-0.05	-3.71
Change in Other Net Operating Assets	-61.17	-156.55	-4.9	-407.52	87.42
Operating Cash Flow	232.55	672.71	179.45	1,145	-635.6
Operating Cash Flow Growth	-65.43%	274.88%	-84.33%	-	-
Capital Expenditures	-4	-12.47	-27.93	-42.13	-80.04
Sale of Property, Plant & Equipment	-	1.52	0.12	0.14	0.43
Sale (Purchase) of Intangibles	-0.89	-0.24	-0.26	-2	-2.78
Other Investing Activities	1.02	-0.37	-137.69	-2.35	-14.65
Investing Cash Flow	-3.87	-11.56	-165.75	-46.35	-97.03
Short-Term Debt Issued	1,537	2,195	4,689	9,514	9,313
Total Debt Issued	1,537	2,195	4,689	9,514	9,313
Short-Term Debt Repaid	-1,553	-2,748	-4,663	-10,307	-8,436
Long-Term Debt Repaid	-53.98	-131.71	-50.84	-51.41	-11.95
Total Debt Repaid	-1,607	-2,880	-4,714	-10,358	-8,448
Net Debt Issued (Repaid)	-69.98	-685.41	-25.14	-844.21	865.35
Common Dividends Paid	-39.4	-39.4	-78.8	-197	-236.4
Other Financing Activities	-	-	-	-0.08	-0.09
Financing Cash Flow	-109.38	-724.81	-103.94	-1,041	628.86
Foreign Exchange Rate Adjustments	-20.35	30.23	-0.03	11.7	-2.76
Net Cash Flow	98.96	-33.43	-90.27	69	-106.54
Free Cash Flow	228.55	660.24	151.52	1,103	-715.64
Free Cash Flow Growth	-65.38%	335.75%	-86.26%	-	-
Free Cash Flow Margin	6.30%	22.09%	4.49%	27.18%	-11.54%
Free Cash Flow Per Share	2.89	8.37	1.92	13.99	-9.08
Cash Interest Paid	1.34	4.17	9.93	13.63	7.47
Cash Income Tax Paid	9.65	70.9	43.76	42.98	146.95
Levered Free Cash Flow	208.17	572.72	218.15	892.41	-811.1
Unlevered Free Cash Flow	214.82	584.71	229.95	906.45	-804.39
Change in Working Capital	-96.89	441.18	-82.49	696.68	-943.19

Source: S&P Global Market Intelligence. Standard template. Financial Sources.