Qfin Holdings 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	5,990	6,264	4,285	4,024	5,782
Depreciation & Amortization	-	74.89	73.76	76.98	65.97
Loss (Gain) From Sale of Investments	-	-	30.11	19.89	-10.12
Stock-Based Compensation	-	167.61	185.6	199.74	253.92
Other Operating Activities	5,094	460.69	3,039	4,505	3,025
Change in Accounts Receivable	-	367.81	-123.38	-33.16	-819.93
Change in Income Taxes	-	298.48	76.33	36.9	-603.2
Change in Other Net Operating Assets	-	-1,858	-3,240	-4,918	-4,106
Operating Cash Flow	11,084	9,343	7,118	5,923	5,790
Operating Cash Flow Growth	18.63%	31.26%	20.19%	2.29%	8.71%
Capital Expenditures	-	-153.15	-84.55	-26.97	-25.31
Cash Acquisitions	-	-2.6	-26.24	-	-
Divestitures	-	-	-	3.35	-1.46
Investment in Securities	-	-3,351	34.1	-48.29	-
Other Investing Activities	-13,082	-	-	-14.55	-
Investing Cash Flow	-13,082	-7,994	-11,148	-7,356	-6,064
Short-Term Debt Issued	-	1,890	824.59	343.18	1,063
Long-Term Debt Issued	-	157.21	72.77	17.85	-
Total Debt Issued	-	2,047	897.35	361.03	1,063
Short-Term Debt Repaid	-	-1,319	-176	-743.13	-564.84
Long-Term Debt Repaid	-	-0.37	-	-	-
Total Debt Repaid	-	-1,319	-176	-743.13	-564.84
Net Debt Issued (Repaid)	-	728.2	721.35	-382.1	498.37
Issuance of Common Stock	-	-	-	286.61	-
Repurchase of Common Stock	-	-2,973	-636.18	-	-
Common Dividends Paid	-	-1,263	-941.71	-988.59	-
Other Financing Activities	2,784	1,393	1,923	4,288	1,765
Financing Cash Flow	2,784	-2,114	1,066	3,204	2,264
Foreign Exchange Rate Adjustments	-50.45	12.04	9.62	-18.19	-3.41
Net Cash Flow	735.12	-753.2	-2,953	1,752	1,986
Free Cash Flow	11,084	9,190	7,034	5,896	5,764
Free Cash Flow Growth	20.61%	30.66%	19.31%	2.27%	8.55%
Free Cash Flow Margin	57.71%	53.54%	43.18%	35.61%	34.65%
Free Cash Flow Per Share	81.45	60.57	42.82	36.62	35.87
Cash Interest Paid	-	18.59	12.87	10.86	13.76
Cash Income Tax Paid	-	1,265	852.56	904.95	1,214
Levered Free Cash Flow	659.21	2,766	-1,107	3,390	2,827
Unlevered Free Cash Flow	659.21	2,766	-1,107	3,390	2,827
Change in Working Capital	-	-1,116	-3,209	-5,119	-4,881

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.