Caitong 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	2,905	2,340	2,252	1,517	2,566	2,292	Upgrade
Depreciation & Amortization, Total	246.82	246.82	338.21	345.56	347.64	146.05	Upgrade
Gain (Loss) On Sale of Investments	-700.53	-700.53	-2,300	-289.85	-69.21	-1,470	Upgrade
Change in Accounts Receivable	969.75	969.75	-3,201	-5,038	-690.62	-16,753	Upgrade
Change in Accounts Payable	5,141	5,141	-996.54	9,985	7,749	14,574	Upgrade
Other Operating Activities	-10,115	1,212	1,086	1,034	1,224	976.82	Upgrade
Operating Cash Flow	2,958	13,719	-7,460	-5,031	2,931	-4,189	Upgrade
Capital Expenditures	-270.27	-2,508	-175.42	-144.87	-194.77	-263.26	Upgrade
Investment in Securities	-250.94	-275.51	-278.27	-10.45	-32.48	-370.14	Upgrade
Other Investing Activities	308.92	190.7	311.69	223.92	135.99	-	Upgrade
Investing Cash Flow	-211.56	-2,592	-141.13	70.09	-90.78	-632.17	Upgrade
Short-Term Debt Issued	-	37.97	326.15	552.06	2,118	6,219	Upgrade
Long-Term Debt Issued	-	34,851	39,742	23,085	32,827	53,075	Upgrade
Total Debt Issued	30,607	34,889	40,068	23,638	34,944	59,295	Upgrade
Short-Term Debt Repaid	-	-30,759	-32,933	-25,985	-31,931	-44,098	Upgrade
Long-Term Debt Repaid	-	-146.09	-200.33	-182.64	-186.26	-	Upgrade
Total Debt Repaid	-29,039	-30,905	-33,133	-26,168	-32,117	-44,098	Upgrade
Net Debt Issued (Repaid)	1,567	3,984	6,935	-2,530	2,827	15,196	Upgrade
Issuance of Common Stock	-	-	-	7,147	-	-	Upgrade
Common Dividends Paid	-1,834	-1,701	-1,613	-2,048	-1,783	-1,514	Upgrade
Other Financing Activities	-321.46	-	-	12.25	6.12	-	Upgrade
Financing Cash Flow	-587.9	2,284	5,322	2,582	1,050	13,682	Upgrade
Foreign Exchange Rate Adjustments	0.87	-1.23	1	2.54	0.31	-28.9	Upgrade
Net Cash Flow	2,160	13,410	-2,279	-2,376	3,891	8,832	Upgrade
Free Cash Flow	2,688	11,212	-7,636	-5,175	2,736	-4,452	Upgrade
Free Cash Flow Growth	-75.52%	-	-	-	-	-	Upgrade
Free Cash Flow Margin	39.48%	182.46%	-119.84%	-108.79%	43.15%	-73.40%	Upgrade
Free Cash Flow Per Share	0.55	2.35	-1.59	-1.16	0.69	-1.22	Upgrade
Cash Interest Paid	1,364	1,244	1,266	1,189	1,093	976.9	Upgrade
Cash Income Tax Paid	495.1	431.32	597.85	941.92	1,033	627.38	Upgrade

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