Sinolink Securities 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
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
Net Income	2,477	1,670	1,718	1,198	2,317	1,863
Depreciation & Amortization, Total	186.29	186.29	255.95	217.21	175.98	73.13
Gain (Loss) On Sale of Investments	86.5	86.5	-105.82	-40.88	-230.17	49.69
Change in Accounts Receivable	-3,560	-3,560	-6,261	-864.3	-9,064	-8,781
Change in Accounts Payable	-730.41	-730.41	4,278	10,177	9,728	8,466
Other Operating Activities	-16,412	598.34	609.43	554.42	531.05	398.53
Operating Cash Flow	-4,420	11,784	-5,625	6,663	-3,599	-3,415
Capital Expenditures	-117.66	-153.21	-187.1	-160.9	-133.96	-111.38
Investment in Securities	-638.24	314.2	616.14	-3,647	-134.36	-233.32
Other Investing Activities	121.2	158.99	190.46	102.2	208.66	46.02
Investing Cash Flow	-634.04	324.07	621.6	-3,705	-46.78	-295.98
Short-Term Debt Issued	-	311.32	257.41	285.08	1,201	261.95
Long-Term Debt Issued	-	24,812	33,705	17,138	30,953	20,991
Total Debt Issued	36,554	25,123	33,962	17,423	32,155	21,253
Short-Term Debt Repaid	-	-22,355	-25,540	-20,915	-23,954	-14,069
Long-Term Debt Repaid	-	-138.33	-153.39	-124.52	-83.81	-
Total Debt Repaid	-19,815	-22,494	-25,693	-21,040	-24,038	-14,069
Net Debt Issued (Repaid)	16,739	2,630	8,269	-3,617	8,117	7,184
Issuance of Common Stock	-	-	-	5,763	-	-
Repurchase of Common Stock	-134.53	-134.53	-167.57	-7.27	-	-
Common Dividends Paid	-1,077	-1,281	-779.35	-944.39	-756.14	-531.15
Other Financing Activities	51.61	-15.75	-	3.5	-	-
Financing Cash Flow	15,580	1,199	7,322	1,198	7,361	6,653
Foreign Exchange Rate Adjustments	-2.78	1.57	8.66	43.07	-6.7	-23.8
Net Cash Flow	10,523	13,308	2,327	4,199	3,708	2,917
Free Cash Flow	-4,538	11,631	-5,812	6,503	-3,733	-3,527
Free Cash Flow Margin	-54.06%	177.34%	-87.96%	115.33%	-51.76%	-58.65%
Free Cash Flow Per Share	-1.23	3.15	-1.56	1.86	-1.23	-1.17
Cash Interest Paid	1,540	1,181	1,146	983.16	1,010	810.74
Cash Income Tax Paid	1,215	744.9	1,110	1,126	1,079	713.91

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