Desiccant Technology 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	418.32	377.31	305.15	241.97	145.34
Depreciation & Amortization	19.02	20	20.75	21.99	13.89
Other Amortization	0.12	2.67	5.72	6.1	3.7
Loss (Gain) From Sale of Assets	-	0.01	-0.05	-0	-0.11
Loss (Gain) From Sale of Investments	-3.33	-3.12	-1.83	-0.21	-0.07
Stock-Based Compensation	-	-	4.36	-	0.86
Provision & Write-off of Bad Debts	2.07	4.66	-3.83	-0.01	-3.72
Other Operating Activities	18.75	21.78	27.69	10.83	-0.07
Change in Accounts Receivable	-297.83	-16.69	-101.18	-92.42	-153.84
Change in Inventory	-69.26	-90.3	123.57	-101.16	-71.27
Change in Accounts Payable	51.52	27.8	26.29	2.8	34.62
Change in Unearned Revenue	632.8	117.69	13.38	302.43	134.06
Change in Other Net Operating Assets	36.3	149.87	-59.63	78.82	44.96
Operating Cash Flow	808.48	611.67	360.4	471.13	148.35
Operating Cash Flow Growth	32.18%	69.72%	-23.50%	217.58%	-26.27%
Capital Expenditures	-3.97	-44.67	-34.19	-7.56	-106.97
Sale of Property, Plant & Equipment	-	0.1	0.05	0	0.11
Sale (Purchase) of Intangibles	-	-	-0.17	-0.2	-15.21
Investment in Securities	1.06	0.52	-146.99	-26.91	41.66
Other Investing Activities	-1,296	-3.17	9.2	0.38	-14.84
Investing Cash Flow	-1,299	-47.23	-172.1	-34.29	-95.25
Short-Term Debt Issued	-	50.02	-	-	18.51
Total Debt Issued	-	50.02	-	-	18.51
Short-Term Debt Repaid	-6.42	-	-15.21	-34.91	-
Long-Term Debt Repaid	-0.92	-	-	-	-1.07
Total Debt Repaid	-7.34	-	-15.21	-34.91	-1.07
Net Debt Issued (Repaid)	-7.34	50.02	-15.21	-34.91	17.43
Issuance of Common Stock	-	-	313.1	60.02	-
Common Dividends Paid	-172.26	-156.6	-92.4	-42	-53.6
Other Financing Activities	-	0	-0.29	0.09	-0.07
Financing Cash Flow	-179.6	-106.57	205.21	-16.81	-36.24
Foreign Exchange Rate Adjustments	-7.93	9.11	-3.16	1.44	-0.46
Net Cash Flow	-677.59	466.98	390.34	421.47	16.41
Free Cash Flow	804.51	567	326.21	463.57	41.39
Free Cash Flow Growth	41.89%	73.81%	-29.63%	1020.12%	-63.53%
Free Cash Flow Margin	28.12%	25.22%	15.61%	23.00%	2.81%
Free Cash Flow Per Share	19.00	13.39	8.55	12.37	1.15
Cash Interest Paid	-	-	0.12	0.06	0.88
Cash Income Tax Paid	101.09	92.85	62.86	44.02	24.04
Levered Free Cash Flow	702.5	429.66	264.49	374.31	17.54
Unlevered Free Cash Flow	702.55	429.66	264.56	374.35	18.05
Change in Working Capital	353.54	188.36	2.43	190.46	-11.48

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