HUAXI 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	Sep '25 Sep 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	2015 - 2019
Net Income	1,533	727.97	424.95	422.36	1,632	1,900	Upgrade
Depreciation & Amortization, Total	127.99	127.99	186.18	167.59	146.59	66.97	Upgrade
Gain (Loss) On Sale of Investments	-492.05	-492.05	-180.46	628.55	148.66	-714.46	Upgrade
Change in Accounts Receivable	-1,447	-1,447	1,038	1,040	-8,837	-1,143	Upgrade
Change in Accounts Payable	6,238	6,238	-7,067	3,216	12,329	1,622	Upgrade
Change in Other Net Operating Assets	4.27	4.27	4.92	5.66	6.23	-	Upgrade
Other Operating Activities	1,111	626.9	737.84	332.07	841.09	625.31	Upgrade
Operating Cash Flow	7,060	5,771	655.47	1,763	3,840	-4,390	Upgrade
Capital Expenditures	-94.5	-87.22	-158.48	-133.71	-98.86	-126.95	Upgrade
Investment in Securities	-5,850	1,939	-463.65	253.51	-201.52	1,977	Upgrade
Other Investing Activities	167.12	227.57	309.61	496.7	537.53	534.63	Upgrade
Investing Cash Flow	-5,773	2,083	-312.35	617.02	231.94	2,385	Upgrade
Long-Term Debt Issued	-	18,212	15,433	16,663	27,488	27,839	Upgrade
Long-Term Debt Repaid	-	-13,758	-17,666	-18,158	-22,769	-21,883	Upgrade
Net Debt Issued (Repaid)	8,215	4,454	-2,233	-1,495	4,719	5,957	Upgrade
Issuance of Common Stock	-	-	-	-	25.62	-	Upgrade
Common Dividends Paid	-873.43	-796.91	-856.25	-1,032	-969.92	-760.85	Upgrade
Other Financing Activities	-7.03	-5.01	13.05	-5.09	-58.72	-26.68	Upgrade
Financing Cash Flow	7,335	3,652	-3,077	-2,532	3,716	5,169	Upgrade
Foreign Exchange Rate Adjustments	0.5	0.62	0.54	2.79	-0.7	-1.77	Upgrade
Net Cash Flow	8,622	11,507	-2,733	-149.3	7,787	3,163	Upgrade
Free Cash Flow	6,966	5,684	496.99	1,629	3,741	-4,517	Upgrade
Free Cash Flow Growth	-51.20%	1043.70%	-69.49%	-56.45%	-	-	Upgrade
Free Cash Flow Margin	134.99%	145.78%	15.69%	49.13%	73.23%	-96.90%	Upgrade
Free Cash Flow Per Share	2.58	2.17	0.19	0.62	1.42	-1.71	Upgrade
Cash Interest Paid	1,134	1,084	1,027	967.08	913.42	884.35	Upgrade
Cash Income Tax Paid	641.83	289.82	634.22	677.72	936.09	899.12	Upgrade

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