Accordance Systems 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Net Income	60.61	61.08	32.34
Depreciation & Amortization	4.08	2.97	2.86
Loss (Gain) on Equity Investments	1.06	0.1	-0.86
Stock-Based Compensation	-	1.53	2.95
Provision & Write-off of Bad Debts	2.42	-0	0.21
Other Operating Activities	-0.04	5.61	-4.97
Change in Accounts Receivable	19.35	-25.21	-15.39
Change in Inventory	-14.24	-9.25	6.09
Change in Accounts Payable	-1.34	-8.43	2.53
Change in Other Net Operating Assets	17.37	11.22	-5.13
Operating Cash Flow	89.26	39.61	20.63
Operating Cash Flow Growth	125.38%	91.95%	-
Capital Expenditures	-101.93	-2.22	-
Investment in Securities	-	-1.08	-0.5
Other Investing Activities	-3.98	0.4	0.61
Investing Cash Flow	-105.91	-2.9	0.11
Long-Term Debt Issued	46.73	-	-
Long-Term Debt Repaid	-	-2.22	-2.2
Net Debt Issued (Repaid)	46.73	-2.22	-2.2
Issuance of Common Stock	34.4	60	30
Common Dividends Paid	-12	-24	-40
Financing Cash Flow	69.13	33.78	-12.2
Net Cash Flow	52.48	70.49	8.54
Free Cash Flow	-12.67	37.39	20.63
Free Cash Flow Growth	-	81.22%	-
Free Cash Flow Margin	-4.57%	14.46%	11.57%
Free Cash Flow Per Share	-0.70	3.85	2.67
Cash Interest Paid	1.37	0.86	0.87
Cash Income Tax Paid	18.59	7.92	14.28
Levered Free Cash Flow	-25.27	21.93	-
Unlevered Free Cash Flow	-24.38	22.46	-
Change in Working Capital	21.14	-31.67	-11.9

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