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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	1,127	1,062	699.39	602.23	309.42	1,038
Depreciation & Amortization, Total	146.69	146.69	201.22	195.33	195.97	106.01
Gain (Loss) On Sale of Investments	-507.4	-507.4	-488.69	-336.96	303.59	-226.23
Change in Accounts Receivable	-6,865	-6,865	-2,957	-302.55	2,590	-2,663
Change in Accounts Payable	12,913	12,913	5,729	298.63	118.8	5,179
Other Operating Activities	6,297	183.34	106	230.72	375.52	425.76
Operating Cash Flow	1,570	-4,608	10,396	-1,562	2,969	-157.19
Capital Expenditures	-116.45	-101.47	-119.38	-134.14	-93.65	-196.53
Investment in Securities	-3,856	-1,009	2,349	-502.26	-1,527	2,514
Other Investing Activities	571.91	528.49	502.96	482.55	588.57	846.86
Investing Cash Flow	-3,374	-574.41	2,767	-152.3	-1,031	3,169
Long-Term Debt Issued	-	17,172	4,044	15,329	15,500	8,600
Long-Term Debt Repaid	-	-9,187	-11,646	-12,479	-16,515	-11,010
Total Debt Repaid	-9,957	-9,187	-11,646	-12,479	-16,515	-11,010
Net Debt Issued (Repaid)	8,844	7,985	-7,602	2,850	-1,016	-2,410
Common Dividends Paid	-932.84	-904.67	-901.13	-722.27	-1,243	-1,458
Other Financing Activities	82.95	94.25	112.45	-69.25	-23.76	-155.45
Financing Cash Flow	7,994	7,175	-8,391	2,058	-2,283	-4,023
Foreign Exchange Rate Adjustments	-8.64	-4.76	4.19	7.45	28.94	-7.52
Net Cash Flow	6,181	1,987	4,776	351.34	-314.94	-1,018
Free Cash Flow	1,454	-4,710	10,276	-1,696	2,876	-353.72
Free Cash Flow Growth	-49.46%	-	-	-	-	-
Free Cash Flow Margin	43.94%	-149.66%	406.32%	-73.09%	161.19%	-11.59%
Free Cash Flow Per Share	0.22	-0.71	1.62	-0.25	0.47	-0.06
Cash Interest Paid	935.36	915.27	854.34	913.47	908.97	1,090
Cash Income Tax Paid	269.21	255.91	181.76	231.07	320.68	308.27