Sincere Security Corp. 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	104.73	98.85	74.98	66.76	108.87
Depreciation & Amortization	23.22	21.06	21.64	21.63	19.76
Loss (Gain) From Sale of Assets	-0.01	-0.43	-0.04	-0.28	-0.05
Stock-Based Compensation	-	-	-	0.33	-
Provision & Write-off of Bad Debts	-0.66	-	0.17	0.5	-5.08
Other Operating Activities	-2.7	3.7	8.02	-8.17	-10.52
Change in Accounts Receivable	-91.74	-56.83	2.29	-137.97	-21.23
Change in Accounts Payable	3.94	-15.45	5.49	4.94	25.86
Change in Other Net Operating Assets	44.52	108.78	-15.93	69.25	7.45
Operating Cash Flow	81.3	159.68	96.62	16.98	125.07
Operating Cash Flow Growth	-49.09%	65.27%	469.17%	-86.43%	-0.90%
Capital Expenditures	-19.89	-24.69	-24.37	-15.59	-82.58
Sale of Property, Plant & Equipment	0.04	0.59	0.27	0.71	0.13
Other Investing Activities	0.03	11.45	28.72	2	11.24
Investing Cash Flow	-29.75	-7.67	8.93	-9.15	-67.98
Short-Term Debt Issued	30	-	60	-	-
Long-Term Debt Issued	-	-	-	-	54
Total Debt Issued	30	-	60	-	54
Short-Term Debt Repaid	-	-80	-	-	-10
Long-Term Debt Repaid	-5.9	-5.38	-25.87	-10.01	-24.77
Total Debt Repaid	-5.9	-85.38	-25.87	-10.01	-34.77
Net Debt Issued (Repaid)	24.1	-85.38	34.13	-10.01	19.23
Issuance of Common Stock	-	-	-	142.41	-
Common Dividends Paid	-67.5	-58.5	-54	-80	-80
Other Financing Activities	-1.46	-2.76	-2.01	-2.35	-2.01
Financing Cash Flow	-44.87	-146.63	-21.89	50.05	-62.78
Net Cash Flow	6.68	5.37	83.65	57.87	-5.69
Free Cash Flow	61.41	134.99	72.24	1.38	42.49
Free Cash Flow Growth	-54.51%	86.86%	5123.57%	-96.75%	-52.88%
Free Cash Flow Margin	1.69%	4.07%	2.42%	0.05%	1.92%
Free Cash Flow Per Share	2.73	5.99	3.21	0.06	2.12
Cash Interest Paid	1.48	2.76	2.01	2.35	2.01
Cash Income Tax Paid	28.47	21.57	10.54	25.38	38.29
Levered Free Cash Flow	21.82	120.6	55.96	-54.93	22.57
Unlevered Free Cash Flow	22.74	122.23	57.29	-53.43	23.84
Change in Working Capital	-43.27	36.5	-8.14	-63.78	12.08

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