We & Win Diversification 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	-100.03	770.81	-145.73	-144.21	133.65
Depreciation & Amortization	6.09	6.06	7.01	6.91	6.63
Asset Writedown & Restructuring Costs	-	-	48.41	-	-
Loss (Gain) on Equity Investments	1.14	-	-	-	-
Stock-Based Compensation	-	2.48	-	-	-
Other Operating Activities	20.93	-2.37	5.06	0.69	-0.16
Change in Accounts Receivable	-0.1	-	0.09	0.09	0.19
Change in Inventory	-2,935	2,407	-1,371	-1,524	-292.29
Change in Accounts Payable	60.85	-122.69	147.45	0.75	45.49
Change in Unearned Revenue	-29.47	-1,111	188.83	196.37	217.55
Change in Other Net Operating Assets	57.03	267.41	182.99	-33.37	30.29
Operating Cash Flow	-2,919	2,218	-937.22	-1,497	141.36
Capital Expenditures	-9.16	-10.23	-33.44	-56.3	-0.16
Investment in Securities	-46.89	-24.43	-18.03	-35.1	-
Other Investing Activities	-484.3	255.21	129.19	20.6	-9.89
Investing Cash Flow	-540.36	220.55	77.72	-70.79	-10.06
Short-Term Debt Issued	6,676	6,562	4,547	2,737	4,219
Long-Term Debt Issued	405.46	-	31.1	400	1,100
Total Debt Issued	7,082	6,562	4,578	3,137	5,319
Short-Term Debt Repaid	-4,088	-8,694	-3,702	-1,234	-4,505
Long-Term Debt Repaid	-237.28	-105.03	-5.97	-505.89	-505.79
Total Debt Repaid	-4,325	-8,799	-3,708	-1,739	-5,011
Net Debt Issued (Repaid)	2,757	-2,237	869.54	1,397	308.11
Issuance of Common Stock	-	638	-	-	-
Common Dividends Paid	-196.47	-	-	-84.46	-63.34
Other Financing Activities	-	-	0.05	-	0.27
Financing Cash Flow	2,560	-1,599	869.59	1,313	245.04
Net Cash Flow	-898.78	839.02	10.08	-254.69	376.34
Free Cash Flow	-2,928	2,207	-970.67	-1,553	141.19
Free Cash Flow Margin	-479.81%	38.62%	-187.37%	-1794.80%	9.81%
Free Cash Flow Per Share	-12.59	10.12	-4.60	-7.36	0.67
Cash Interest Paid	-	93.67	86.57	72.79	66.76
Cash Income Tax Paid	-	194.23	6.83	0.27	1.09
Levered Free Cash Flow	-2,873	2,155	-653.93	-1,492	255.03
Unlevered Free Cash Flow	-2,806	2,213	-596.29	-1,400	328.29
Change in Working Capital	-2,847	1,441	-851.97	-1,360	1.23

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