China Galaxy Securities Cash Flow Statement

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

Millions CNY. 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	14,035	10,031	7,879	7,768	10,430	7,244
Depreciation & Amortization, Total	892.71	892.71	882.45	806.18	658.09	661.27
Gain (Loss) On Sale of Investments	-6,093	-6,093	-2,907	4,900	-1,570	29.85
Change in Accounts Receivable	3,644	3,644	-2,210	-999.79	-40,555	-56,044
Change in Accounts Payable	30,505	30,505	6,472	10,742	87,771	83,552
Change in Other Net Operating Assets	-39,421	-39,421	-3,571	53,944	-	-
Other Operating Activities	-25,449	3,520	-4,470	-6,561	-359.08	1,587
Operating Cash Flow	-31,433	-6,468	-30,193	28,826	57,085	37,704
Capital Expenditures	-733.44	-770.64	-695.16	-1,157	-599.07	-423.29
Cash Acquisitions	-	-	-1,217	-	-301.82	-
Investment in Securities	-10,818	-8,585	8,241	-29,364	-34,764	-49,050
Other Investing Activities	10,407	5,287	6,271	5,710	4,263	1,959
Investing Cash Flow	-1,109	-4,055	12,624	-24,811	-31,400	-47,491
Short-Term Debt Issued	-	-	-	-	75,364	124,627
Long-Term Debt Issued	-	93,722	89,564	105,806	46,299	34,641
Total Debt Issued	162,563	93,722	89,564	105,806	121,663	159,268
Long-Term Debt Repaid	-	-76,642	-79,904	-95,310	-121,440	-124,791
Total Debt Repaid	-114,519	-76,642	-79,904	-95,310	-121,440	-124,791
Net Debt Issued (Repaid)	48,045	17,080	9,661	10,497	223.21	34,477
Issuance of Common Stock	5,000	-	14,942	-	9,924	4,962
Common Dividends Paid	-3,564	-4,276	-3,070	-3,771	-7,013	-6,225
Other Financing Activities	-4,641	-4,483	-4,502	-4,268	-259.92	71.82
Financing Cash Flow	44,839	8,321	17,031	2,458	2,874	33,286
Foreign Exchange Rate Adjustments	84.82	136.85	94.49	665.02	-171.22	-288.32
Net Cash Flow	12,382	-2,064	-444.13	7,138	28,388	23,210
Free Cash Flow	-32,166	-7,238	-30,888	27,668	56,486	37,281
Free Cash Flow Growth	-	-	-	-51.02%	51.52%	47.64%
Free Cash Flow Margin	-74.01%	-19.80%	-89.28%	80.02%	157.38%	157.90%
Free Cash Flow Per Share	-3.10	-0.66	-2.83	2.58	5.57	3.68
Cash Interest Paid	10,340	9,553	10,271	8,936	6,057	3,685
Cash Income Tax Paid	1,244	519.84	218.85	1,030	3,513	2,488

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