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
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	922.12	699.39	602.23	309.42	1,038	1,091
Depreciation & Amortization, Total	148.97	148.97	195.33	195.97	106.01	65.28
Gain (Loss) On Sale of Investments	-488.69	-488.69	-336.96	303.59	-226.23	-517.23
Change in Accounts Receivable	-2,957	-2,957	-302.55	2,590	-2,663	-1,688
Change in Accounts Payable	5,729	5,729	298.63	118.8	5,179	5,648
Other Operating Activities	-5,724	106.24	233.7	375.52	425.76	536.95
Operating Cash Flow	4,788	10,396	-1,562	2,969	-157.19	-3,808
Capital Expenditures	-114.42	-119.38	-134.14	-93.65	-196.53	-271.78
Investment in Securities	336.1	2,349	-502.26	-1,527	2,514	2,236
Other Investing Activities	525.51	502.96	482.55	588.57	846.86	605.38
Investing Cash Flow	780.27	2,767	-152.3	-1,031	3,169	2,572
Long-Term Debt Issued	-	4,044	15,329	15,500	8,600	10,831
Long-Term Debt Repaid	-	-11,646	-12,479	-16,515	-11,010	-8,526
Total Debt Repaid	-8,110	-11,646	-12,479	-16,515	-11,010	-8,526
Net Debt Issued (Repaid)	1,864	-7,602	2,850	-1,016	-2,410	2,305
Issuance of Common Stock	-	-	-	-	-	4,886
Common Dividends Paid	-936.27	-901.13	-722.27	-1,243	-1,458	-1,341
Other Financing Activities	207.55	112.45	-69.25	-23.76	-155.45	-282.29
Financing Cash Flow	1,135	-8,391	2,058	-2,283	-4,023	5,568
Foreign Exchange Rate Adjustments	3.18	4.19	7.45	28.94	-7.52	-36.48
Net Cash Flow	6,707	4,776	351.34	-314.94	-1,018	4,295
Free Cash Flow	4,674	10,276	-1,696	2,876	-353.72	-4,080
Free Cash Flow Growth	-26.35%	-	-	-	-	-
Free Cash Flow Margin	142.06%	405.23%	-73.09%	161.19%	-11.59%	-130.53%
Free Cash Flow Per Share	0.78	1.62	-0.25	0.47	-0.06	-0.67
Cash Interest Paid	906.69	854.34	913.47	908.97	1,090	868.86
Cash Income Tax Paid	251.99	181.76	231.07	320.68	308.27	260.33

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.