Cinda Securities Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	2020 - 2016
Period Ending	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	2020 - 2016
Net Income	1,894	1,365	1,467	1,227	1,172	Upgrade
Depreciation & Amortization, Total	183.72	221.61	176.91	148.89	171.78	Upgrade
Gain (Loss) On Sale of Investments	378.27	-167.14	-182.68	393.13	-368.96	Upgrade
Change in Accounts Receivable	-15,249	-7,358	-2,816	260.69	-18,743	Upgrade
Change in Accounts Payable	15,298	16,127	3,237	5,145	13,482	Upgrade
Other Operating Activities	-720.63	-37.48	450.97	512.71	410.8	Upgrade
Operating Cash Flow	1,945	10,285	2,418	7,650	-3,751	Upgrade
Capital Expenditures	-51.54	-86.84	-88.91	-104.48	-87.89	Upgrade
Investment in Securities	-5,804	-14,121	-11,526	391.44	3,024	Upgrade
Other Investing Activities	1,180	749.98	64.25	-2.06	65.46	Upgrade
Investing Cash Flow	-4,672	-13,533	-11,549	287.57	3,002	Upgrade
Long-Term Debt Issued	16,786	21,130	17,578	3,677	9,033	Upgrade
Long-Term Debt Repaid	-14,883	-14,398	-13,178	-8,882	-6,550	Upgrade
Net Debt Issued (Repaid)	1,904	6,732	4,400	-5,204	2,484	Upgrade
Issuance of Common Stock	2,500	4,500	2,581	-	-	Upgrade
Common Dividends Paid	-919.91	-674.94	-567.73	-474.51	-463.43	Upgrade
Other Financing Activities	1,347	-144.73	193.85	39.99	-297.76	Upgrade
Financing Cash Flow	4,832	10,412	6,607	-5,639	1,723	Upgrade
Foreign Exchange Rate Adjustments	23.94	51.77	28.32	-17.55	13.61	Upgrade
Net Cash Flow	2,128	7,216	-2,495	2,282	987.18	Upgrade
Free Cash Flow	1,893	10,198	2,329	7,546	-3,839	Upgrade
Free Cash Flow Growth	-81.44%	337.79%	-69.13%	-	-	Upgrade
Free Cash Flow Margin	47.81%	313.58%	67.41%	220.52%	-101.20%	Upgrade
Free Cash Flow Per Share	0.54	3.06	0.73	2.58	-1.31	Upgrade
Cash Interest Paid	1,647	1,166	1,234	871.59	791.9	Upgrade
Cash Income Tax Paid	420.35	215.12	623.61	402.45	349.59	Upgrade

Source: S&P Capital IQ. Capital Markets template. Financial Sources.