Shanxi 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	929.91	924.42	711.83	619.76	574.47	803.61
Depreciation & Amortization, Total	177.22	177.22	259.53	251.76	254.42	216.62
Gain (Loss) On Sale of Investments	4.03	4.03	4.11	64.14	12.19	42.64
Change in Accounts Receivable	-1,377	-1,377	1,824	3,095	-6,754	-8,055
Change in Accounts Payable	-93.45	-93.45	4,612	-3,750	6,389	7,807
Other Operating Activities	7,599	291.32	639	661.58	755.33	723.02
Operating Cash Flow	7,334	20.99	8,066	925.56	1,226	1,434
Capital Expenditures	-143.77	-137.14	-205.38	-215.14	-199.84	-179.61
Cash Acquisitions	-	-	-90.05	-	-108.18	-
Investment in Securities	-651.35	-375.05	30.52	-21.31	8.57	180.25
Other Investing Activities	-168.26	12.11	0.39	0.22	1.44	-1,024
Investing Cash Flow	-935.38	-472.63	-250.27	-176.47	-276.13	-1,017
Short-Term Debt Issued	-	478.51	1,290	1,649	8,936	17,540
Long-Term Debt Issued	-	5,982	5,984	3,493	5,493	6,463
Total Debt Issued	6,548	6,461	7,274	5,142	14,428	24,003
Short-Term Debt Repaid	-	-5,619	-8,896	-7,023	-	-19,415
Long-Term Debt Repaid	-	-137.53	-133.34	-156.34	-15,297	-149.62
Total Debt Repaid	-4,954	-5,756	-9,030	-7,179	-15,297	-19,565
Net Debt Issued (Repaid)	1,594	704.61	-1,755	-2,037	-868.94	4,439
Common Dividends Paid	-765.77	-785.31	-1,046	-942.96	-1,064	-997.77
Other Financing Activities	-7.5	-7.5	-61.84	-7.36	647.96	629.44
Financing Cash Flow	821	-88.2	-2,863	-2,988	-1,285	4,070
Foreign Exchange Rate Adjustments	-18.94	-12.77	7.9	7.13	80.77	-23.05
Net Cash Flow	7,200	-552.6	4,961	-2,231	-254.02	4,464
Free Cash Flow	7,190	-116.14	7,861	710.42	1,027	1,254
Free Cash Flow Growth	52.86%	-	1006.53%	-30.80%	-18.17%	-
Free Cash Flow Margin	218.86%	-3.54%	264.05%	20.66%	24.50%	31.65%
Free Cash Flow Per Share	1.99	-0.03	2.19	0.20	0.29	0.35
Cash Interest Paid	775.95	713.64	783.02	851.44	820.55	959.49
Cash Income Tax Paid	409.26	368.11	306.19	312.13	326.78	329.1

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