Higher Way Electronic 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	-46.34	8.83	-6.57	51.31	31.77
Depreciation & Amortization	6.37	5.91	5.85	6.06	5.53
Other Amortization	-	0.9	0.89	1.05	0.77
Loss (Gain) From Sale of Assets	0.02	-0.02	-0.06	0.03	-0.03
Loss (Gain) From Sale of Investments	-	0.02	-0.01	0.47	-
Loss (Gain) on Equity Investments	2.25	-	-	-	-
Provision & Write-off of Bad Debts	-	-	-0.08	-0.1	0.19
Other Operating Activities	0.53	6.43	-2.71	-1.27	1.21
Change in Accounts Receivable	22.78	-43.64	41.75	-5.49	-17.8
Change in Inventory	24.86	-31.11	30.58	10.7	-17.16
Change in Accounts Payable	-27.45	24.78	-8.2	-91.6	-20.12
Change in Other Net Operating Assets	3.93	-4.46	-7.52	3.34	7.59
Operating Cash Flow	-13.04	-32.36	53.93	-25.51	-8.04
Capital Expenditures	-0.33	-1.48	-1.21	-0.58	-2.26
Sale of Property, Plant & Equipment	-	0.02	-	-	0.03
Sale (Purchase) of Intangibles	-1.79	-0.62	-0.34	-0.39	-3.19
Sale (Purchase) of Real Estate	-	-191.77	-	-	-
Investment in Securities	38.67	11.58	34.63	-61.77	-14.84
Other Investing Activities	-0.02	40.43	10.68	-89.78	0.61
Investing Cash Flow	36.53	-141.85	43.76	-152.51	-19.65
Short-Term Debt Issued	-	79	-	-	49
Long-Term Debt Issued	96.9	35	35	231.52	-
Total Debt Issued	96.9	114	35	231.52	49
Short-Term Debt Repaid	-	-	-	-23	-41
Long-Term Debt Repaid	-182.34	-12.78	-6.44	-26.76	-6.6
Total Debt Repaid	-182.34	-12.78	-6.44	-49.76	-47.6
Net Debt Issued (Repaid)	-85.44	101.22	28.57	181.76	1.4
Common Dividends Paid	-	-	-23.4	-20.06	-16.71
Other Financing Activities	-0.26	-0.16	-0.69	0.1	0.29
Financing Cash Flow	-85.7	101.06	4.47	161.8	-15.02
Foreign Exchange Rate Adjustments	-0.11	0.5	0.66	0.46	-0.31
Net Cash Flow	-62.32	-72.66	102.82	-15.76	-43.02
Free Cash Flow	-13.37	-33.84	52.72	-26.09	-10.3
Free Cash Flow Margin	-1.45%	-3.48%	5.02%	-2.12%	-0.69%
Free Cash Flow Per Share	-0.38	-0.98	1.58	-0.64	-0.30
Cash Interest Paid	8.43	1.8	4.99	4.54	1.1
Cash Income Tax Paid	0.4	0.96	0.87	0.48	0.08
Levered Free Cash Flow	102.34	-120.12	84.86	-91.49	-39.9
Unlevered Free Cash Flow	107.61	-116.07	88.61	-87.93	-39.21
Change in Working Capital	24.12	-54.43	56.61	-83.05	-47.49

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