Zhongtai Futures Company Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	85.54	4.53	133.72	166.1	188.57
Depreciation & Amortization, Total	26.71	24.3	24.19	20	14.52
Gain (Loss) On Sale of Investments	51.86	86.05	-150.12	123.29	2.77
Change in Accounts Receivable	-2,043	-1,657	1,047	-1,997	-2,643
Change in Accounts Payable	-420.62	3,420	1,707	7,645	7,392
Change in Other Net Operating Assets	20.09	21.58	20.74	18.05	-
Other Operating Activities	4.76	4.46	11.07	-12	-1.53
Operating Cash Flow	-2,244	1,883	2,853	5,889	4,977
Capital Expenditures	-20.43	-19.77	-21.57	-13.59	-17.54
Investment in Securities	0.26	-	-	-	-287.5
Other Investing Activities	-	-	-	9.54	7.68
Investing Cash Flow	-20.06	-19.56	-21.31	-4.01	-296.38
Short-Term Debt Issued	54	135.6	88.29	225	-
Total Debt Issued	54	135.6	88.29	225	-
Short-Term Debt Repaid	-129.6	-50.77	-281.87	-20.95	-
Total Debt Repaid	-129.6	-50.77	-281.87	-20.95	-
Net Debt Issued (Repaid)	-75.6	84.83	-193.58	204.05	-
Common Dividends Paid	-2.7	-15.23	-28.73	-18.03	-23.64
Other Financing Activities	-24.43	-19.73	-17.8	-15.02	-9.65
Financing Cash Flow	-102.74	49.87	-240.12	170.99	-33.29
Foreign Exchange Rate Adjustments	-0.01	-0.05	0.14	0.03	-0.16
Net Cash Flow	-2,367	1,913	2,592	6,056	4,647
Free Cash Flow	-2,265	1,863	2,832	5,875	4,959
Free Cash Flow Growth	-	-34.22%	-51.80%	18.47%	-
Free Cash Flow Margin	-326.78%	287.96%	131.55%	239.95%	219.97%
Free Cash Flow Per Share	-2.26	1.86	2.83	5.86	4.95
Cash Interest Paid	248.87	368.76	283.9	235.11	114.08
Cash Income Tax Paid	53.68	50.51	112.51	114.59	69.1