The Pacific 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	166.98	210.54	220.05	250.55	-459.12	121.31
Depreciation & Amortization, Total	79.47	79.47	50.41	77.74	74.8	75.55
Gain (Loss) On Sale of Investments	-34.32	-34.32	-120.25	-241.9	550.66	-127.92
Change in Accounts Receivable	-279.85	-279.85	-509.32	-540.26	684.52	378.27
Change in Accounts Payable	1,345	1,345	2,254	418.62	-2,690	-1,165
Other Operating Activities	1,827	2.75	1.82	2.89	32.57	110.68
Operating Cash Flow	2,633	852.35	2,145	424.43	85.98	2,212
Capital Expenditures	-51.62	-45.54	-37.79	-70.56	-58.71	-51.46
Investment in Securities	41.06	55.09	65.32	89.14	101.86	188.52
Other Investing Activities	19.89	25.12	21.29	19.16	43.25	5.29
Investing Cash Flow	9.55	41.33	48.91	43.38	86.51	143.07
Long-Term Debt Issued	-	20	60	-	200	1,852
Long-Term Debt Repaid	-	-80	-30.53	-92.09	-1,657	-3,489
Net Debt Issued (Repaid)	-40	-60	29.47	-92.09	-1,457	-1,637
Common Dividends Paid	-2.13	-2.64	-1.96	-3.71	-56.47	-106.82
Other Financing Activities	-25.08	-26.61	-6.8	-5.28	-22.34	-25.87
Financing Cash Flow	-67.21	-89.25	20.71	-101.08	-1,536	-1,769
Foreign Exchange Rate Adjustments	-0.61	-0.37	0.25	0.25	1.26	-0.33
Net Cash Flow	2,575	804.07	2,214	366.98	-1,363	585.02
Free Cash Flow	2,582	806.81	2,107	353.87	27.28	2,160
Free Cash Flow Growth	99.90%	-61.70%	495.36%	1197.37%	-98.74%	-46.25%
Free Cash Flow Margin	203.21%	60.77%	160.11%	25.84%	2.34%	132.79%
Free Cash Flow Per Share	0.39	0.12	0.31	0.05	0.00	0.32
Cash Interest Paid	-	-	165.82	179.27	206.06	283.79
Cash Income Tax Paid	-	-	114.68	112.22	72.82	248.11

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