Huatai 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	17,542	16,383	15,351	12,751	11,054	13,346
Depreciation & Amortization, Total	979.72	979.72	1,638	1,705	1,426	938.02
Gain (Loss) On Sale of Investments	9.71	9.71	-68.94	-473.68	-1,085	8,846
Stock-Based Compensation	-	-	-	-	-	243.69
Change in Accounts Receivable	-80,058	-80,058	-11,889	-7,407	2,261	-17,099
Change in Accounts Payable	126,662	126,662	-29,663	10,525	30,208	11,114
Change in Other Net Operating Assets	-	-	-	-	-	-15,373
Other Operating Activities	45,411	-156.31	-5,179	1,263	3,726	-6,280
Operating Cash Flow	34,124	-12,602	68,168	-31,458	67,165	-65,337
Capital Expenditures	-1,329	-1,222	-1,806	-1,676	-1,432	-2,953
Cash Acquisitions	-244.67	-244.67	-	-	-288.67	-803.43
Investment in Securities	-29,583	-45,809	8,204	-8,067	-17,603	480.64
Other Investing Activities	5,884	5,156	3,286	3,428	2,585	3,008
Investing Cash Flow	-25,256	-42,102	20,496	-6,264	-16,715	-262.04
Short-Term Debt Issued	-	-	-	-	-	129,077
Long-Term Debt Issued	-	220,337	39,432	103,175	99,062	56,828
Total Debt Issued	254,496	220,337	39,432	103,175	99,062	185,905
Short-Term Debt Repaid	-	-	-	-	-	-127
Long-Term Debt Repaid	-	-103,670	-88,860	-76,645	-122,957	-144,058
Total Debt Repaid	-114,446	-103,670	-88,860	-76,645	-122,957	-144,185
Net Debt Issued (Repaid)	140,050	116,667	-49,428	26,530	-23,895	41,720
Issuance of Common Stock	-	-	-	-	9,197	10,410
Repurchase of Common Stock	-3	-3	-15.35	-7.64	-9.23	-48.96
Common Dividends Paid	-11,504	-10,869	-12,833	-15,061	-10,400	-3,613
Other Financing Activities	4,996	4,996	2,607	6,500	-1,590	-4,264
Financing Cash Flow	133,539	110,790	-59,670	17,962	-26,697	44,205
Foreign Exchange Rate Adjustments	-796.32	-664.38	558.65	1,059	2,769	-351.29
Net Cash Flow	141,611	55,422	29,552	-18,702	26,522	-21,745
Free Cash Flow	32,795	-13,823	66,362	-33,135	65,733	-68,290
Free Cash Flow Growth	35.39%	-	-	-	-	-
Free Cash Flow Margin	83.03%	-38.27%	205.27%	-94.82%	219.62%	-166.96%
Free Cash Flow Per Share	3.65	-1.53	7.36	-3.68	7.32	-7.60
Cash Interest Paid	9,973	9,519	10,113	12,692	11,078	9,788
Cash Income Tax Paid	3,440	2,335	1,997	1,947	3,532	2,894

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