CITIC Securities 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	-	21,704	19,721	21,317	23,100
Depreciation & Amortization, Total	-	1,803	1,706	1,535	1,544
Gain (Loss) On Sale of Investments	-	5,590	-2,830	14,217	-5,294
Change in Accounts Receivable	-	-53,430	-74,551	49,992	-
Change in Accounts Payable	-	220,220	104,609	-26,221	-
Change in Other Net Operating Assets	-	-	-	-	122,301
Other Operating Activities	-	-3,141	2,280	2,931	3,653
Operating Cash Flow	-	172,563	-40,837	78,523	5,517
Capital Expenditures	-	-1,293	-1,580	-1,304	-719.74
Investment in Securities	-	-73,862	-16,643	225.39	-6,464
Other Investing Activities	-	203.33	-16.33	286.89	252.44
Investing Cash Flow	-	-74,264	-18,198	-791.74	-6,916
Long-Term Debt Issued	-	367,305	342,308	77,910	130,410
Long-Term Debt Repaid	-	-377,214	-281,436	-133,202	-118,450
Net Debt Issued (Repaid)	-	-9,909	60,873	-55,291	11,960
Issuance of Common Stock	-	14,000	3,000	27,157	10,800
Common Dividends Paid	-	-17,970	-13,809	-15,067	-12,501
Other Financing Activities	-	-1,483	-1,782	1,342	-546.42
Financing Cash Flow	-	-15,362	48,281	-41,860	9,713
Foreign Exchange Rate Adjustments	-	245.09	398.77	556.63	-1,589
Net Cash Flow	-	83,182	-10,355	36,428	6,725
Free Cash Flow	-	171,270	-42,417	77,219	4,797
Free Cash Flow Growth	-	-	-	1509.71%	-95.26%
Free Cash Flow Margin	-	285.14%	-71.72%	120.88%	6.90%
Free Cash Flow Per Share	-	11.56	-2.86	5.25	0.35
Cash Interest Paid	-	23,375	19,546	15,512	-
Cash Income Tax Paid	-	7,720	10,945	11,381	9,871

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