Cheng Fwa Industrial 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	74.27	142.08	7.46	163.19	-88.71
Depreciation & Amortization	80.59	85.65	79.45	76.49	87.76
Other Amortization	-	-	-	-	0.3
Loss (Gain) From Sale of Assets	3.27	-94.41	-0.6	-0.7	12.77
Provision & Write-off of Bad Debts	-1.22	-1.07	-2.8	-11.75	10.01
Other Operating Activities	7.55	21.33	-3.64	54.88	-15.89
Change in Accounts Receivable	35.58	-161.24	238.12	-147.94	-94.09
Change in Inventory	-31.54	-20.27	124.86	57.82	-162.52
Change in Accounts Payable	15.77	116.16	-129.51	-16.52	153.02
Change in Unearned Revenue	-1.7	-24.21	30.21	0.2	-
Change in Other Net Operating Assets	-7.92	-2.5	-31.33	39.4	-25.83
Operating Cash Flow	174.66	61.54	312.23	215.08	-123.17
Operating Cash Flow Growth	183.82%	-80.29%	45.17%	-	-
Capital Expenditures	-109.17	-56.19	-22.78	-26.18	-43.38
Sale of Property, Plant & Equipment	4.25	121.62	0.78	3.07	11.31
Sale (Purchase) of Intangibles	-13.3	-17.45	-4.69	-1.82	-4.33
Investment in Securities	104.67	31.02	-226.19	297.92	-78.76
Other Investing Activities	-112.26	0.38	-0.28	1.57	4.01
Investing Cash Flow	-125.81	79.38	-253.15	274.56	-111.15
Short-Term Debt Issued	238.43	-	-	-	290.75
Total Debt Issued	238.43	-	-	-	290.75
Short-Term Debt Repaid	-39.22	-	-199	-346.75	-
Long-Term Debt Repaid	-	-0.31	-0.62	-0.15	-3.83
Total Debt Repaid	-39.22	-0.31	-199.62	-346.9	-3.83
Net Debt Issued (Repaid)	199.21	-0.31	-199.62	-346.9	286.92
Common Dividends Paid	-71.9	-	-28.76	-	-
Other Financing Activities	-0.5	-1.22	1.39	2.61	-11.59
Financing Cash Flow	126.81	-1.53	-226.99	-344.29	275.33
Foreign Exchange Rate Adjustments	-7.45	16.94	-5.45	-4.75	19.55
Net Cash Flow	168.2	156.34	-173.36	140.6	60.56
Free Cash Flow	65.49	5.35	289.45	188.9	-166.56
Free Cash Flow Growth	1125.22%	-98.15%	53.23%	-	-
Free Cash Flow Margin	3.72%	0.36%	20.56%	9.14%	-10.01%
Free Cash Flow Per Share	0.46	0.04	2.01	1.31	-1.16
Cash Interest Paid	1.61	0.01	1.72	3.6	4.04
Cash Income Tax Paid	29.29	21.99	32.09	25.2	-
Levered Free Cash Flow	20.44	-60.33	271.07	256.58	-314.06
Unlevered Free Cash Flow	21.45	-60.32	272.12	258.8	-311.5
Change in Working Capital	10.2	-92.05	232.36	-67.04	-129.42

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