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

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