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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	12,824	12,520	10,031	7,879	7,768	10,430
Depreciation & Amortization, Total	932.98	932.98	892.71	882.45	806.18	658.09
Gain (Loss) On Sale of Investments	2,157	2,157	-5,676	-2,907	4,900	-1,570
Change in Accounts Receivable	1,006	1,006	3,227	-2,210	-999.79	-40,555
Change in Accounts Payable	69,282	69,282	30,505	6,472	10,742	87,771
Change in Other Net Operating Assets	-92,171	-92,171	-39,421	-3,571	53,944	-
Other Operating Activities	44,173	-1,809	3,520	-4,470	-6,561	-359.08
Operating Cash Flow	20,771	-25,514	-6,468	-30,193	28,826	57,085
Capital Expenditures	-809.94	-843.53	-770.64	-695.16	-1,157	-599.07
Cash Acquisitions	-	-	-	-1,217	-	-301.82
Investment in Securities	-531.66	42.04	-8,585	8,241	-29,364	-34,764
Other Investing Activities	3,225	5,789	5,287	6,271	5,710	4,263
Investing Cash Flow	1,897	5,003	-4,055	12,624	-24,811	-31,400
Short-Term Debt Issued	-	-	-	-	-	75,364
Long-Term Debt Issued	-	157,460	93,722	89,564	105,806	46,299
Total Debt Issued	182,262	157,460	93,722	89,564	105,806	121,663
Long-Term Debt Repaid	-	-122,525	-76,642	-79,904	-95,310	-121,440
Total Debt Repaid	-123,584	-122,525	-76,642	-79,904	-95,310	-121,440
Net Debt Issued (Repaid)	58,678	34,936	17,080	9,661	10,497	223.21
Issuance of Common Stock	15,000	5,000	-	14,942	-	9,924
Repurchase of Common Stock	-10,000	-5,000	-	-	-	-
Common Dividends Paid	-4,685	-4,999	-4,276	-3,070	-3,771	-7,013
Other Financing Activities	-2,805	-2,740	-4,483	-4,502	-4,268	-259.92
Financing Cash Flow	56,189	27,196	8,321	17,031	2,458	2,874
Foreign Exchange Rate Adjustments	-209.61	-74.06	136.85	94.49	665.02	-171.22
Net Cash Flow	78,648	6,611	-2,064	-444.13	7,138	28,388
Free Cash Flow	19,961	-26,358	-7,238	-30,888	27,668	56,486
Free Cash Flow Growth	-	-	-	-	-51.02%	51.52%
Free Cash Flow Margin	66.27%	-90.31%	-30.35%	-89.28%	80.02%	157.38%
Free Cash Flow Per Share	1.83	-2.41	-0.66	-2.83	2.58	5.57
Cash Interest Paid	7,309	7,367	9,553	10,271	8,936	6,057
Cash Income Tax Paid	2,365	1,365	519.84	218.85	1,030	3,513

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