Northeast 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	Mar '25 Mar 31, 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	1,055	873.65	668.45	230.94	1,624	1,333	Upgrade
Depreciation & Amortization, Total	200.7	200.7	254.82	226.81	198.19	110.74	Upgrade
Gain (Loss) On Sale of Investments	-61.97	-61.97	-351.64	477.87	-777.15	-646.74	Upgrade
Change in Accounts Receivable	-4,038	-4,038	479.3	2,958	-2,692	-2,595	Upgrade
Change in Accounts Payable	7,888	7,888	2,706	-321.33	8,789	977.31	Upgrade
Change in Other Net Operating Assets	-73.29	-73.29	0.27	-100.67	-405.29	-125.87	Upgrade
Other Operating Activities	-3,870	921.58	924.24	807.54	1,067	1,095	Upgrade
Operating Cash Flow	6,326	10,936	-1,882	2,714	4,310	2,318	Upgrade
Capital Expenditures	-163.83	-179.55	-294.37	-270.73	-214.26	-132.93	Upgrade
Investment in Securities	-4	157.7	-98.32	-118.09	-280.71	48.4	Upgrade
Other Investing Activities	241.44	241.66	375.31	265.92	363.41	444.44	Upgrade
Investing Cash Flow	73.78	220	-17	-122.88	-130.76	360.11	Upgrade
Long-Term Debt Issued	-	9,530	17,134	17,084	25,521	17,998	Upgrade
Long-Term Debt Repaid	-	-12,546	-16,295	-5,100	-8,500	-2,000	Upgrade
Total Debt Repaid	-13,210	-12,546	-16,295	-5,100	-8,500	-2,000	Upgrade
Net Debt Issued (Repaid)	-3,465	-3,016	838.7	11,984	17,021	15,998	Upgrade
Common Dividends Paid	-1,198	-1,068	-1,039	-1,074	-1,205	-1,308	Upgrade
Other Financing Activities	-117.68	-160.89	-353.14	-12,756	-15,864	-17,621	Upgrade
Financing Cash Flow	-4,780	-4,244	-553.01	-1,846	-48.16	-2,930	Upgrade
Foreign Exchange Rate Adjustments	1.66	1.86	1.7	4.88	-0.14	5.89	Upgrade
Net Cash Flow	1,621	6,914	-2,450	750.33	4,131	-245.93	Upgrade
Free Cash Flow	6,162	10,757	-2,176	2,443	4,095	2,185	Upgrade
Free Cash Flow Growth	139.94%	-	-	-40.34%	87.39%	-71.73%	Upgrade
Free Cash Flow Margin	90.86%	166.23%	-32.96%	47.14%	53.46%	33.99%	Upgrade
Free Cash Flow Per Share	2.57	4.56	-0.94	1.04	1.75	0.93	Upgrade
Cash Interest Paid	1,009	979.74	1,038	975.64	944.94	760.19	Upgrade
Cash Income Tax Paid	531.64	506.35	531.75	696.56	704.45	618.92	Upgrade

Updated Jan 16, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.