Tien Liang BioTech 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	-10.25	11.7	17.73	59.48	46.61
Depreciation & Amortization	10.07	9.15	10.44	10.76	11.97
Other Amortization	-	0.16	0.11	0.29	0.46
Loss (Gain) From Sale of Assets	-0.05	0.68	-0.57	-0.03	-
Loss (Gain) From Sale of Investments	-	-2.93	-	-	-
Other Operating Activities	-5.73	-8.03	-0.66	-0.02	2.23
Change in Accounts Receivable	-16.22	-0.73	15.42	-3.4	-4.69
Change in Inventory	-8.55	17.31	19.17	-34.02	-8.37
Change in Accounts Payable	32.89	10.96	-1.2	-8.91	6.29
Change in Unearned Revenue	-	-	-	-	-2.89
Change in Other Net Operating Assets	17.07	10.09	9.23	-2.27	-6.4
Operating Cash Flow	19.23	48.34	69.67	21.88	45.21
Operating Cash Flow Growth	-60.22%	-30.61%	218.42%	-51.60%	-
Capital Expenditures	-19.23	-4.05	-4.96	-1.01	-0.6
Sale of Property, Plant & Equipment	0.05	3.84	0.6	0.1	-
Sale (Purchase) of Intangibles	-0.13	-0.1	-0.38	-	-
Investment in Securities	-274.16	-300.13	-	-	-
Other Investing Activities	11.75	-1.08	-0.03	-0.3	-0.58
Investing Cash Flow	-281.71	-301.51	-4.78	-1.21	-1.18
Short-Term Debt Issued	328.63	265	-	-	-
Total Debt Issued	328.63	265	-	-	-
Short-Term Debt Repaid	-65.63	-	-30	-30.5	-40
Long-Term Debt Repaid	-0.38	-0.5	-0.52	-0.8	-0.8
Total Debt Repaid	-66	-0.5	-30.52	-31.3	-40.8
Net Debt Issued (Repaid)	262.62	264.5	-30.52	-31.3	-40.8
Common Dividends Paid	-	-22.88	-	-	-
Other Financing Activities	-8.5	-	-	-	-
Financing Cash Flow	254.12	241.62	-30.52	-31.3	-40.8
Net Cash Flow	-8.36	-11.55	34.37	-10.63	3.23
Free Cash Flow	0.01	44.3	64.71	20.87	44.61
Free Cash Flow Growth	-99.99%	-31.54%	210.05%	-53.22%	-
Free Cash Flow Margin	0.00%	11.50%	14.07%	3.95%	7.81%
Free Cash Flow Per Share	-	0.97	1.41	0.46	0.97
Cash Interest Paid	-	2.89	2.1	1.69	1.8
Cash Income Tax Paid	-	0.82	0.06	0.01	-0
Levered Free Cash Flow	-4.38	52.22	56.67	-4.55	20.7
Unlevered Free Cash Flow	2.58	54.15	57.97	-3.44	21.86
Change in Working Capital	25.19	37.62	42.62	-48.6	-16.05

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