Mao Bao Cash Flow Statement

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

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	15.4	12.62	-6.06	5.17	19.41	38.6
Depreciation & Amortization	12.75	12.39	11.83	12.17	11.01	8.89
Other Amortization	0.92	0.87	0.64	0.77	0.75	0.83
Loss (Gain) From Sale of Assets	-2.42	-0.11	0.03	0.03	0.08	0.23
Provision & Write-off of Bad Debts	-0.16	0.04	-0.04	-0.14	0.1	-0.02
Other Operating Activities	2.58	5.08	2.36	-2.06	-6.61	1.59
Change in Accounts Receivable	-3.62	11.97	-1.98	18.71	-6.49	-3.49
Change in Inventory	-3.32	-26.05	16.67	12.17	-5.35	-15.44
Change in Accounts Payable	22.14	-4.28	-4.46	-7.78	17.38	14.58
Change in Unearned Revenue	-0.72	3.69	-0.42	-0.48	0.29	-0.69
Change in Other Net Operating Assets	-3.63	-14.69	13.27	-11.03	12.85	3.47
Operating Cash Flow	39.92	1.54	31.83	27.54	43.42	48.54
Operating Cash Flow Growth	-	-95.17%	15.60%	-36.58%	-10.55%	98.31%
Capital Expenditures	-15.09	-11.31	-26.47	-6.54	-4.92	-7.38
Sale of Property, Plant & Equipment	4.33	1.23	0.11	0.14	-	0.21
Sale (Purchase) of Intangibles	-0.48	-1.37	-1.59	-0.54	-0.13	-0.11
Investment in Securities	61.73	12.88	12.11	-34.64	-41.12	-14.24
Other Investing Activities	7.07	-3.54	3.37	-7.33	-3.41	-0.01
Investing Cash Flow	57.56	-2.1	-12.47	-48.91	-49.58	-21.53
Long-Term Debt Repaid	-	-1.38	-1.57	-1.59	-1.58	-1.55
Net Debt Issued (Repaid)	-1.4	-1.38	-1.57	-1.59	-1.58	-1.55
Common Dividends Paid	-21.22	-	-	-14.86	-21.22	-
Financing Cash Flow	-22.62	-1.38	-1.57	-16.45	-22.8	-1.55
Foreign Exchange Rate Adjustments	5.91	4.37	-0.57	1.7	-4.51	0.66
Net Cash Flow	80.76	2.42	17.23	-36.12	-33.47	26.12
Free Cash Flow	24.83	-9.77	5.37	21	38.5	41.16
Free Cash Flow Growth	-	-	-74.45%	-45.45%	-6.47%	98.46%
Free Cash Flow Margin	3.80%	-1.65%	0.97%	3.58%	6.22%	6.63%
Free Cash Flow Per Share	0.58	-0.23	0.13	0.49	0.91	0.97
Cash Interest Paid	0.22	0.24	0.27	0.2	0.2	0.24
Cash Income Tax Paid	7.75	4.58	-0.26	5.06	11.08	5.24
Levered Free Cash Flow	35.06	-18.04	2.75	12.17	30.25	32.22
Unlevered Free Cash Flow	35.19	-17.89	2.92	12.29	30.37	32.22
Change in Working Capital	10.84	-29.36	23.07	11.6	18.69	-1.57

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.