Soochow 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	3,374	3,552	2,366	2,002	1,735	2,392
Depreciation & Amortization, Total	219.76	219.76	299.71	269.77	246.51	212.65
Gain (Loss) On Sale of Investments	-1,556	-1,556	-1,205	-909.7	-913.34	-389.34
Change in Accounts Receivable	-15,327	-15,327	13,249	-27,731	13,263	-5,912
Change in Accounts Payable	27,755	27,755	17,071	16,927	8,094	12,270
Other Operating Activities	2,989	-360.08	-365.99	-1.3	37.09	1,377
Operating Cash Flow	17,168	13,998	30,874	-9,603	23,143	9,628
Capital Expenditures	-185.19	-232.91	-436.87	-704.16	-177.21	-231.85
Cash Acquisitions	-251.99	-251.99	-	-	-	-
Investment in Securities	-14,191	-9,391	-17,145	4,922	-32,250	2,017
Other Investing Activities	1,973	1,871	1,512	1,436	1,036	635.55
Investing Cash Flow	-12,656	-8,003	-16,062	5,660	-31,388	2,424
Short-Term Debt Issued	-	34,585	31,659	52,647	31,402	27,905
Long-Term Debt Issued	-	14,300	6,000	2,959	12,982	10,000
Total Debt Issued	60,946	48,885	37,659	55,606	44,384	37,906
Short-Term Debt Repaid	-	-39,947	-36,317	-52,251	-42,305	-40,817
Long-Term Debt Repaid	-	-90.94	-103.92	-105.38	-89.62	-82.11
Total Debt Repaid	-41,075	-40,038	-36,421	-52,357	-42,395	-40,899
Net Debt Issued (Repaid)	19,871	8,847	1,239	3,249	1,990	-2,993
Issuance of Common Stock	-	-	-	-	23.11	7,997
Repurchase of Common Stock	-	-	-	-	-	-351.01
Common Dividends Paid	-2,754	-2,901	-2,312	-2,000	-1,952	-1,942
Other Financing Activities	90.9	90.9	-9.67	-8.1	243.76	-
Financing Cash Flow	17,207	6,037	-1,083	1,241	304.99	2,710
Foreign Exchange Rate Adjustments	4.91	-6.88	21.73	23.51	150.25	-52.79
Net Cash Flow	21,725	12,024	13,750	-2,679	-7,790	14,709
Free Cash Flow	16,983	13,765	30,437	-10,307	22,966	9,396
Free Cash Flow Growth	-21.30%	-54.78%	-	-	144.42%	-
Free Cash Flow Margin	193.22%	152.70%	432.56%	-91.82%	220.86%	102.65%
Free Cash Flow Per Share	3.40	2.77	6.13	-2.07	4.62	2.34
Cash Interest Paid	2,542	2,288	2,201	1,776	1,499	1,568
Cash Income Tax Paid	1,432	1,391	963.7	1,147	631.97	1,199

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