Mao Bao 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	29.33	12.62	-6.06	5.17	19.41
Depreciation & Amortization	13.62	12.39	11.83	12.17	11.01
Other Amortization	-	0.87	0.64	0.77	0.75
Loss (Gain) From Sale of Assets	0.35	-0.11	0.03	0.03	0.08
Provision & Write-off of Bad Debts	-0.02	0.04	-0.04	-0.14	0.1
Other Operating Activities	7.2	5.08	2.36	-2.06	-6.61
Change in Accounts Receivable	-1.72	11.97	-1.98	18.71	-6.49
Change in Inventory	0.8	-26.05	16.67	12.17	-5.35
Change in Accounts Payable	1.94	-4.28	-4.46	-7.78	17.38
Change in Unearned Revenue	-4.15	3.69	-0.42	-0.48	0.29
Change in Other Net Operating Assets	-5.27	-14.69	13.27	-11.03	12.85
Operating Cash Flow	42.09	1.54	31.83	27.54	43.42
Operating Cash Flow Growth	2639.91%	-95.17%	15.60%	-36.58%	-10.55%
Capital Expenditures	-4.75	-11.31	-26.47	-6.54	-4.92
Sale of Property, Plant & Equipment	0.43	1.23	0.11	0.14	-
Sale (Purchase) of Intangibles	-0.04	-1.37	-1.59	-0.54	-0.13
Investment in Securities	45.01	12.88	12.11	-34.64	-41.12
Other Investing Activities	-2.52	-3.54	3.37	-7.33	-3.41
Investing Cash Flow	38.13	-2.1	-12.47	-48.91	-49.58
Long-Term Debt Repaid	-1.41	-1.38	-1.57	-1.59	-1.58
Net Debt Issued (Repaid)	-1.41	-1.38	-1.57	-1.59	-1.58
Common Dividends Paid	-21.22	-	-	-14.86	-21.22
Financing Cash Flow	-22.63	-1.38	-1.57	-16.45	-22.8
Foreign Exchange Rate Adjustments	2.85	4.37	-0.57	1.7	-4.51
Net Cash Flow	60.43	2.42	17.23	-36.12	-33.47
Free Cash Flow	37.33	-9.77	5.37	21	38.5
Free Cash Flow Growth	-	-	-74.45%	-45.45%	-6.47%
Free Cash Flow Margin	5.53%	-1.65%	0.97%	3.58%	6.22%
Free Cash Flow Per Share	0.88	-0.23	0.13	0.49	0.91
Cash Interest Paid	0.21	0.24	0.27	0.2	0.2
Cash Income Tax Paid	10.49	4.58	-0.26	5.06	11.08
Levered Free Cash Flow	38.25	-18.04	2.75	12.17	30.25
Unlevered Free Cash Flow	38.39	-17.89	2.92	12.29	30.37
Change in Working Capital	-8.4	-29.36	23.07	11.6	18.69

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