Accordance Systems 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
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	65.5	61.08	32.34
Depreciation & Amortization	3.25	2.97	2.86
Loss (Gain) on Equity Investments	1.33	0.1	-0.86
Stock-Based Compensation	1.53	1.53	2.95
Provision & Write-off of Bad Debts	0.87	-0	0.21
Other Operating Activities	6.16	5.61	-4.97
Change in Accounts Receivable	-11.29	-25.21	-15.39
Change in Inventory	-3.82	-9.25	6.09
Change in Accounts Payable	-4.3	-8.43	2.53
Change in Other Net Operating Assets	0.31	11.22	-5.13
Operating Cash Flow	59.53	39.61	20.63
Operating Cash Flow Growth	-	91.95%	-
Capital Expenditures	-99.48	-2.22	-
Investment in Securities	2.25	-1.08	-0.5
Other Investing Activities	-2.66	0.4	0.61
Investing Cash Flow	-99.89	-2.9	0.11
Long-Term Debt Repaid	-	-2.22	-2.2
Net Debt Issued (Repaid)	47.77	-2.22	-2.2
Issuance of Common Stock	60	60	30
Common Dividends Paid	-12	-24	-40
Financing Cash Flow	95.77	33.78	-12.2
Net Cash Flow	55.41	70.49	8.54
Free Cash Flow	-39.94	37.39	20.63
Free Cash Flow Growth	-	81.22%	-
Free Cash Flow Margin	-14.19%	14.46%	11.57%
Free Cash Flow Per Share	-3.16	3.85	2.67
Cash Interest Paid	0.88	0.86	0.87
Cash Income Tax Paid	10.56	7.92	14.28
Levered Free Cash Flow	-	21.93	-
Unlevered Free Cash Flow	-	22.46	-
Change in Working Capital	-19.1	-31.67	-11.9

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