Sincere Security Corp. Cash Flow Statement

Financials in millions TWD. Fiscal year is January - December.

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	108.35	98.85	74.98	66.76	108.87	109.45
Depreciation & Amortization	22.79	21.06	21.64	21.63	19.76	18.45
Loss (Gain) From Sale of Assets	-0.01	-0.43	-0.04	-0.28	-0.05	-0.02
Stock-Based Compensation	-	-	-	0.33	-	-
Provision & Write-off of Bad Debts	-0.66	-	0.17	0.5	-5.08	4.38
Other Operating Activities	-1.95	3.7	8.02	-8.17	-10.52	13.54
Change in Accounts Receivable	-13.41	-56.83	2.29	-137.97	-21.23	-53.89
Change in Accounts Payable	0.28	-15.45	5.49	4.94	25.86	-5.39
Change in Other Net Operating Assets	31.41	108.78	-15.93	69.25	7.45	39.68
Operating Cash Flow	146.79	159.68	96.62	16.98	125.07	126.2
Operating Cash Flow Growth	154.25%	65.27%	469.17%	-86.43%	-0.90%	301.85%
Capital Expenditures	-30.62	-24.69	-24.37	-15.59	-82.58	-36.04
Sale of Property, Plant & Equipment	0.04	0.59	0.27	0.71	0.13	0.05
Other Investing Activities	2.74	11.45	28.72	2	11.24	-0.26
Investing Cash Flow	-37.52	-7.67	8.93	-9.15	-67.98	-47.5
Short-Term Debt Issued	-	-	60	-	-	-
Long-Term Debt Issued	-	-	-	-	54	-
Total Debt Issued	30	-	60	-	54	-
Short-Term Debt Repaid	-	-80	-	-	-10	-3
Long-Term Debt Repaid	-	-5.38	-25.87	-10.01	-24.77	-12.17
Total Debt Repaid	-56.84	-85.38	-25.87	-10.01	-34.77	-15.17
Net Debt Issued (Repaid)	-26.84	-85.38	34.13	-10.01	19.23	-15.17
Issuance of Common Stock	-	-	-	142.41	-	-
Common Dividends Paid	-67.5	-58.5	-54	-80	-80	-48
Other Financing Activities	-1.54	-2.76	-2.01	-2.35	-2.01	-1.37
Financing Cash Flow	-95.88	-146.63	-21.89	50.05	-62.78	-64.55
Net Cash Flow	13.39	5.37	83.65	57.87	-5.69	14.15
Free Cash Flow	116.17	134.99	72.24	1.38	42.49	90.16
Free Cash Flow Growth	202.15%	86.86%	5123.57%	-96.75%	-52.88%	620.88%
Free Cash Flow Margin	3.28%	4.07%	2.42%	0.05%	1.92%	4.34%
Free Cash Flow Per Share	5.16	5.99	3.21	0.06	2.12	4.51
Cash Interest Paid	1.56	2.76	2.01	2.35	2.01	1.37
Cash Income Tax Paid	28.46	21.57	10.54	25.38	38.29	13.16
Levered Free Cash Flow	70.51	120.6	55.96	-54.93	22.57	22.14
Unlevered Free Cash Flow	71.45	122.23	57.29	-53.43	23.84	22.98
Change in Working Capital	18.28	36.5	-8.14	-63.78	12.08	-19.6

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.