Southwest 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	2016 - 2020
Period Ending	Jun '25 Jun 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	2016 - 2020
Net Income	782.3	699.39	602.23	309.42	1,038	1,091	Upgrade
Depreciation & Amortization, Total	150.8	148.97	195.33	195.97	106.01	65.28	Upgrade
Gain (Loss) On Sale of Investments	-613.29	-488.69	-336.96	303.59	-226.23	-517.23	Upgrade
Change in Accounts Receivable	-4,546	-2,957	-302.55	2,590	-2,663	-1,688	Upgrade
Change in Accounts Payable	10,717	5,729	298.63	118.8	5,179	5,648	Upgrade
Other Operating Activities	123.68	106.24	233.7	375.52	425.76	536.95	Upgrade
Operating Cash Flow	6,314	10,396	-1,562	2,969	-157.19	-3,808	Upgrade
Capital Expenditures	-99.86	-119.38	-134.14	-93.65	-196.53	-271.78	Upgrade
Investment in Securities	1,444	2,349	-502.26	-1,527	2,514	2,236	Upgrade
Other Investing Activities	527.18	502.96	482.55	588.57	846.86	605.38	Upgrade
Investing Cash Flow	1,906	2,767	-152.3	-1,031	3,169	2,572	Upgrade
Long-Term Debt Issued	-	4,044	15,329	15,500	8,600	10,831	Upgrade
Long-Term Debt Repaid	-	-11,646	-12,479	-16,515	-11,010	-8,526	Upgrade
Total Debt Repaid	-5,241	-11,646	-12,479	-16,515	-11,010	-8,526	Upgrade
Net Debt Issued (Repaid)	1,094	-7,602	2,850	-1,016	-2,410	2,305	Upgrade
Issuance of Common Stock	-	-	-	-	-	4,886	Upgrade
Common Dividends Paid	-516.25	-901.13	-722.27	-1,243	-1,458	-1,341	Upgrade
Other Financing Activities	181.49	112.45	-69.25	-23.76	-155.45	-282.29	Upgrade
Financing Cash Flow	759.03	-8,391	2,058	-2,283	-4,023	5,568	Upgrade
Foreign Exchange Rate Adjustments	-2.25	4.19	7.45	28.94	-7.52	-36.48	Upgrade
Net Cash Flow	8,976	4,776	351.34	-314.94	-1,018	4,295	Upgrade
Free Cash Flow	6,214	10,276	-1,696	2,876	-353.72	-4,080	Upgrade
Free Cash Flow Growth	519.63%	-	-	-	-	-	Upgrade
Free Cash Flow Margin	218.16%	405.23%	-73.09%	161.19%	-11.59%	-130.53%	Upgrade
Free Cash Flow Per Share	0.96	1.62	-0.25	0.47	-0.06	-0.67	Upgrade
Cash Interest Paid	854.34	854.34	913.47	908.97	1,090	868.86	Upgrade
Cash Income Tax Paid	181.76	181.76	231.07	320.68	308.27	260.33	Upgrade

Updated Oct 30, 2024. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.