Caitong Securities Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	2,632	2,340	2,252	1,517	2,566
Depreciation & Amortization, Total	270.56	311.06	338.21	345.56	347.64
Gain (Loss) On Sale of Investments	-83.08	-700.53	-2,300	-289.85	-69.21
Change in Accounts Receivable	-15,990	969.75	-3,201	-5,038	-690.62
Change in Accounts Payable	16,226	5,141	-996.54	9,985	7,749
Other Operating Activities	1,136	1,212	1,086	1,034	1,224
Operating Cash Flow	5,356	13,719	-7,460	-5,031	2,931
Capital Expenditures	-129.88	-2,508	-175.42	-144.87	-194.77
Investment in Securities	11.9	-275.51	-278.27	-10.45	-32.48
Other Investing Activities	-	190.7	311.69	223.92	135.99
Investing Cash Flow	-117.27	-2,592	-141.13	70.09	-90.78
Short-Term Debt Issued	-	37.97	326.15	552.06	2,118
Long-Term Debt Issued	27,906	34,851	39,742	23,085	32,827
Total Debt Issued	27,906	34,889	40,068	23,638	34,944
Short-Term Debt Repaid	-28,653	-30,759	-32,933	-25,985	-31,931
Long-Term Debt Repaid	-124.35	-146.09	-200.33	-182.64	-186.26
Total Debt Repaid	-28,777	-30,905	-33,133	-26,168	-32,117
Net Debt Issued (Repaid)	-871.48	3,984	6,935	-2,530	2,827
Issuance of Common Stock	-	-	-	7,147	-
Repurchase of Common Stock	-300	-	-	-	-
Common Dividends Paid	-1,877	-1,701	-1,613	-2,048	-1,783
Other Financing Activities	-21.46	-	-	12.25	6.12
Financing Cash Flow	-3,070	2,284	5,322	2,582	1,050
Foreign Exchange Rate Adjustments	-0.08	-1.23	1	2.54	0.31
Net Cash Flow	2,168	13,410	-2,279	-2,376	3,891
Free Cash Flow	5,226	11,212	-7,636	-5,175	2,736
Free Cash Flow Growth	-53.39%	-	-	-	-
Free Cash Flow Margin	77.11%	182.46%	-119.84%	-108.79%	43.15%
Free Cash Flow Per Share	1.09	2.35	-1.59	-1.16	0.69
Cash Interest Paid	1,334	1,244	1,266	1,189	1,093
Cash Income Tax Paid	635.54	431.32	597.85	941.92	1,033

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