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	2015 - 2019
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	2015 - 2019
Net Income	2,477	1,670	1,718	1,198	2,317	1,863	Upgrade
Depreciation & Amortization, Total	186.29	186.29	255.95	217.21	175.98	73.13	Upgrade
Gain (Loss) On Sale of Investments	86.5	86.5	-105.82	-40.88	-230.17	49.69	Upgrade
Change in Accounts Receivable	-3,560	-3,560	-6,261	-864.3	-9,064	-8,781	Upgrade
Change in Accounts Payable	-730.41	-730.41	4,278	10,177	9,728	8,466	Upgrade
Other Operating Activities	-16,412	598.34	609.43	554.42	531.05	398.53	Upgrade
Operating Cash Flow	-4,420	11,784	-5,625	6,663	-3,599	-3,415	Upgrade
Capital Expenditures	-117.66	-153.21	-187.1	-160.9	-133.96	-111.38	Upgrade
Investment in Securities	-638.24	314.2	616.14	-3,647	-134.36	-233.32	Upgrade
Other Investing Activities	121.2	158.99	190.46	102.2	208.66	46.02	Upgrade
Investing Cash Flow	-634.04	324.07	621.6	-3,705	-46.78	-295.98	Upgrade
Short-Term Debt Issued	-	311.32	257.41	285.08	1,201	261.95	Upgrade
Long-Term Debt Issued	-	24,812	33,705	17,138	30,953	20,991	Upgrade
Total Debt Issued	36,554	25,123	33,962	17,423	32,155	21,253	Upgrade
Short-Term Debt Repaid	-	-22,355	-25,540	-20,915	-23,954	-14,069	Upgrade
Long-Term Debt Repaid	-	-138.33	-153.39	-124.52	-83.81	-	Upgrade
Total Debt Repaid	-19,815	-22,494	-25,693	-21,040	-24,038	-14,069	Upgrade
Net Debt Issued (Repaid)	16,739	2,630	8,269	-3,617	8,117	7,184	Upgrade
Issuance of Common Stock	-	-	-	5,763	-	-	Upgrade
Repurchase of Common Stock	-134.53	-134.53	-167.57	-7.27	-	-	Upgrade
Common Dividends Paid	-1,077	-1,281	-779.35	-944.39	-756.14	-531.15	Upgrade
Other Financing Activities	51.61	-15.75	-	3.5	-	-	Upgrade
Financing Cash Flow	15,580	1,199	7,322	1,198	7,361	6,653	Upgrade
Foreign Exchange Rate Adjustments	-2.78	1.57	8.66	43.07	-6.7	-23.8	Upgrade
Net Cash Flow	10,523	13,308	2,327	4,199	3,708	2,917	Upgrade
Free Cash Flow	-4,538	11,631	-5,812	6,503	-3,733	-3,527	Upgrade
Free Cash Flow Margin	-54.06%	177.34%	-87.96%	115.33%	-51.76%	-58.65%	Upgrade
Free Cash Flow Per Share	-1.23	3.15	-1.56	1.86	-1.23	-1.17	Upgrade
Cash Interest Paid	1,540	1,181	1,146	983.16	1,010	810.74	Upgrade
Cash Income Tax Paid	1,215	744.9	1,110	1,126	1,079	713.91	Upgrade

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