ChinaLin 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	496.96	506.23	353.15	31.69	464.67	483.73
Depreciation & Amortization, Total	51.37	51.37	196.62	129.49	55.39	55.44
Gain (Loss) On Sale of Investments	-10.7	-10.7	70.7	106.3	-5.92	-39.05
Change in Accounts Receivable	-455.68	-455.68	-1,064	-279.55	336.5	-1,099
Change in Accounts Payable	2,981	2,981	4,331	-290.55	-844.31	-4,952
Other Operating Activities	1,364	-321.47	-204.67	6.9	-59.64	-500.34
Operating Cash Flow	4,485	2,809	3,663	-348.97	-16.34	-6,030
Capital Expenditures	-62.9	-66.5	-42.27	-71.74	-123.68	-191.95
Cash Acquisitions	-	-	-	1.34	-	-
Investment in Securities	-574.15	-74.53	-1,220	2,200	-636.12	7,316
Other Investing Activities	75.14	53.74	57.43	82.32	18.23	25.79
Investing Cash Flow	-558.74	-84.66	-1,205	2,214	-741.38	7,151
Short-Term Debt Issued	-	-	-	-	5,411	7,289
Long-Term Debt Issued	-	-	-	1,867	998.38	-
Total Debt Issued	197.45	-	-	1,867	6,409	7,289
Short-Term Debt Repaid	-	-	-	-	-5,571	-6,850
Long-Term Debt Repaid	-	-2,122	-2,793	-2,821	-43.09	-44.16
Total Debt Repaid	-1,798	-2,122	-2,793	-2,821	-5,614	-6,894
Net Debt Issued (Repaid)	-1,601	-2,122	-2,793	-954.47	795.22	394.82
Issuance of Common Stock	1,448	1,448	2,841	-	-	-
Common Dividends Paid	-159.96	-162.45	-82.55	-240.99	-218.49	-307.24
Other Financing Activities	-0.7	-	-	-	-	-
Financing Cash Flow	-313.7	-836.99	-35.08	-1,195	576.73	87.58
Foreign Exchange Rate Adjustments	-0.57	2.34	0.34	0.52	1.48	-0.42
Net Cash Flow	3,612	1,890	2,423	669.68	-179.51	1,209
Free Cash Flow	4,423	2,743	3,620	-420.71	-140.02	-6,222
Free Cash Flow Growth	27.17%	-24.25%	-	-	-	-
Free Cash Flow Margin	260.88%	166.95%	259.81%	-42.62%	-10.34%	-463.05%
Free Cash Flow Per Share	1.64	1.02	1.33	-0.16	-0.05	-2.30
Cash Interest Paid	433.89	404.09	338.44	333.46	429.15	669.99
Cash Income Tax Paid	144.7	164.49	178.79	63.63	64.73	100.91

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