CITIC Securities Company 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	2015 - 2019
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	2015 - 2019
Net Income	28,064	21,704	19,721	21,317	23,100	14,902	Upgrade
Depreciation & Amortization, Total	1,803	1,803	1,706	1,535	1,544	1,253	Upgrade
Gain (Loss) On Sale of Investments	5,590	5,590	-2,830	14,217	-5,294	6,737	Upgrade
Change in Accounts Receivable	-53,430	-53,430	-74,551	49,992	-	-90,301	Upgrade
Change in Accounts Payable	220,220	220,220	104,609	-26,221	-	209,670	Upgrade
Change in Other Net Operating Assets	-	-	-	-	122,301	-	Upgrade
Other Operating Activities	-66,914	-3,141	2,280	2,931	3,653	11,374	Upgrade
Operating Cash Flow	115,150	172,563	-40,837	78,523	5,517	101,825	Upgrade
Capital Expenditures	-1,416	-1,293	-1,580	-1,304	-719.74	-609.26	Upgrade
Cash Acquisitions	-	-	-	-	-	13,732	Upgrade
Investment in Securities	-328.12	-73,862	-16,643	225.39	-6,464	-21,670	Upgrade
Other Investing Activities	241.56	203.33	-16.33	286.89	252.44	1,678	Upgrade
Investing Cash Flow	-813.67	-74,264	-18,198	-791.74	-6,916	-6,860	Upgrade
Long-Term Debt Issued	-	367,305	342,308	77,910	130,410	257,199	Upgrade
Long-Term Debt Repaid	-	-377,214	-281,436	-133,202	-118,450	-227,023	Upgrade
Net Debt Issued (Repaid)	52,093	-9,909	60,873	-55,291	11,960	30,176	Upgrade
Issuance of Common Stock	9,000	14,000	3,000	27,157	10,800	-	Upgrade
Common Dividends Paid	-15,389	-17,970	-13,809	-15,067	-12,501	-13,721	Upgrade
Other Financing Activities	-1,715	-1,483	-1,782	1,342	-546.42	-4,456	Upgrade
Financing Cash Flow	43,990	-15,362	48,281	-41,860	9,713	11,998	Upgrade
Foreign Exchange Rate Adjustments	79.57	245.09	398.77	556.63	-1,589	-1,930	Upgrade
Net Cash Flow	158,406	83,182	-10,355	36,428	6,725	105,034	Upgrade
Free Cash Flow	113,734	171,270	-42,417	77,219	4,797	101,216	Upgrade
Free Cash Flow Growth	-9.55%	-	-	1509.71%	-95.26%	369.73%	Upgrade
Free Cash Flow Margin	148.98%	285.14%	-71.72%	120.88%	6.90%	188.03%	Upgrade
Free Cash Flow Per Share	7.70	11.56	-2.86	5.25	0.35	7.87	Upgrade
Cash Interest Paid	29,627	23,375	19,546	15,512	-	12,213	Upgrade
Cash Income Tax Paid	9,790	7,720	10,945	11,381	9,871	7,233	Upgrade

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