Guosen 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	2016 - 2020
Period Ending	Jun '25 Jun 30, 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	2016 - 2020
Net Income	10,445	8,217	6,427	6,088	10,115	6,616	Upgrade
Depreciation & Amortization, Total	413.19	478.33	605.25	560.69	425.48	221.42	Upgrade
Gain (Loss) On Sale of Investments	-1,767	-1,359	-1,558	2,738	-2,634	-583.5	Upgrade
Change in Accounts Receivable	1,089	270.78	-2,052	-3,796	-2,501	-2,004	Upgrade
Change in Accounts Payable	4,227	375.65	8,857	9,309	-54.44	4,038	Upgrade
Change in Other Net Operating Assets	3,358	-27,292	-24,483	-6,122	21,989	16,346	Upgrade
Other Operating Activities	3,207	3,387	2,583	2,552	2,384	2,007	Upgrade
Operating Cash Flow	43,453	33,747	-47,856	-7,342	-6,715	-3,472	Upgrade
Capital Expenditures	-273.39	-326.72	-415.44	-595.85	-603.91	-740.07	Upgrade
Investment in Securities	35.61	138.03	-77.56	49.9	726.73	-71.98	Upgrade
Other Investing Activities	13.63	252.72	343.11	526.67	279.06	1.89	Upgrade
Investing Cash Flow	-220.47	66.03	-146.47	-12.75	407.18	-827.65	Upgrade
Short-Term Debt Issued	-	622.68	245.38	524.89	6,072	7,422	Upgrade
Long-Term Debt Issued	-	105,627	116,350	62,327	101,292	105,462	Upgrade
Total Debt Issued	96,431	106,249	116,596	62,852	107,364	112,883	Upgrade
Short-Term Debt Repaid	-	-94,452	-65,016	-62,652	-98,248	-106,847	Upgrade
Long-Term Debt Repaid	-	-189.46	-189.28	-175.9	-177.22	-	Upgrade
Total Debt Repaid	-97,525	-94,641	-65,206	-62,828	-98,426	-106,847	Upgrade
Net Debt Issued (Repaid)	-1,094	11,608	51,390	23.97	8,939	6,036	Upgrade
Issuance of Common Stock	6,000	-	-	10,000	10,000	24,788	Upgrade
Repurchase of Common Stock	-	-	-	-	-	-5,000	Upgrade
Common Dividends Paid	-7,950	-7,049	-6,206	-8,087	-4,645	-4,165	Upgrade
Other Financing Activities	-69.06	-76.26	-121	-91	-91.13	-44.9	Upgrade
Financing Cash Flow	-3,112	4,483	45,063	1,846	14,202	21,614	Upgrade
Foreign Exchange Rate Adjustments	-15.9	4.74	-3.18	251.81	-61.76	-120.56	Upgrade
Net Cash Flow	40,104	38,301	-2,942	-5,257	7,832	17,194	Upgrade
Free Cash Flow	43,179	33,420	-48,271	-7,937	-7,319	-4,212	Upgrade
Free Cash Flow Margin	180.94%	166.37%	-278.84%	-50.02%	-30.70%	-22.61%	Upgrade
Free Cash Flow Per Share	5.15	3.48	-4.06	-0.68	-0.70	-0.46	Upgrade
Cash Interest Paid	5,317	5,274	4,942	4,461	4,143	3,066	Upgrade
Cash Income Tax Paid	1,635	1,006	1,783	2,029	3,748	2,745	Upgrade

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Capital Markets template. Financial Sources.