Chengdu Expressway Balance Sheet

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
Cash & Equivalents	2,139	2.31	5.74	0.9	16.68	1.19
Short-Term Investments	-	2,200	1,904	2,260	1,873	1,871
Cash & Short-Term Investments	2,139	2,202	1,909	2,261	1,889	1,872
Cash Growth	8.43%	15.32%	-15.54%	19.67%	0.92%	6.39%
Accounts Receivable	728.98	645.66	371.39	226.22	207.45	144.71
Other Receivables	46.68	33.42	51.51	77.26	52.77	59.69
Receivables	775.66	679.08	422.9	303.47	260.21	204.41
Inventory	40.89	22.38	26.98	20.67	17.32	46.13
Other Current Assets	129.18	122.27	45.6	87.43	70.57	59.87
Total Current Assets	3,085	3,026	2,405	2,673	2,237	2,182
Property, Plant & Equipment	638.7	662.46	597.28	491.07	459.13	421.12
Long-Term Investments	537.87	627.15	595.28	608.38	534.43	401.84
Goodwill	60.33	60.33	75.65	75.65	75.65	34.03
Other Intangible Assets	4,799	4,842	5,077	5,347	5,816	6,056
Long-Term Deferred Tax Assets	22.96	22.46	26.61	31.57	28.48	30.08
Other Long-Term Assets	1,427	1,220	280.76	28.32	17.33	30.25
Total Assets	10,572	10,460	9,057	9,255	9,169	9,158
Accounts Payable	176.5	226.3	187.8	521.68	710.8	842.54
Accrued Expenses	42.5	355.52	70.88	65.56	51.48	61.58
Short-Term Debt	507.18	791.55	-	-	300	-
Current Portion of Long-Term Debt	-	220.17	299	218	199.4	236
Current Portion of Leases	-	22.59	13.46	8.93	8.13	8.63
Current Income Taxes Payable	28.16	18.79	51.36	43.2	30.9	31.33
Current Unearned Revenue	6.35	17.57	13.14	9.63	24.93	21.5
Other Current Liabilities	779.87	235.96	267.2	229.68	143.27	211.48
Total Current Liabilities	1,541	1,888	902.85	1,097	1,469	1,413
Long-Term Debt	2,493	2,172	2,177	2,476	2,414	2,815
Long-Term Leases	51.44	48.64	57.77	44.24	26.87	36.99
Long-Term Unearned Revenue	26.62	70.96	57.78	45.26	48.52	51.77
Long-Term Deferred Tax Liabilities	222.64	220.84	192.11	195.37	191.29	185.74
Other Long-Term Liabilities	106.59	69.4	78.13	95.08	59.54	53.9
Total Liabilities	4,441	4,470	3,465	3,952	4,209	4,556
Common Stock	1,656	1,656	1,656	1,656	1,656	1,656
Additional Paid-In Capital	-	437.52	437.52	437.52	437.52	-
Retained Earnings	2,854	2,731	2,346	2,105	1,781	1,522
Comprehensive Income & Other	589.63	152.33	149.74	149.96	150.04	519.26
Total Common Equity	5,099	4,977	4,590	4,349	4,025	3,698
Minority Interest	1,032	1,012	1,002	953.68	934.88	903.91
Shareholders' Equity	6,132	5,990	5,592	5,302	4,960	4,601
Total Liabilities & Equity	10,572	10,460	9,057	9,255	9,169	9,158
Total Debt	3,051	3,255	2,547	2,747	2,948	3,096
Net Cash (Debt)	-912.61	-1,053	-637.55	-486.02	-1,059	-1,224
Net Cash Per Share	-	-0.64	-0.38	-0.29	-0.64	-0.74
Filing Date Shares Outstanding	-	1,656	1,656	1,656	1,656	1,656
Total Common Shares Outstanding	-	1,656	1,656	1,656	1,656	1,656
Working Capital	1,544	1,137	1,502	1,576	768.54	769.42
Book Value Per Share	-	3.01	2.77	2.63	2.43	2.23
Tangible Book Value	239.79	75.18	-562.8	-1,074	-1,867	-2,392
Tangible Book Value Per Share	-	0.05	-0.34	-0.65	-1.13	-1.44
Buildings	-	371.68	349.26	262.45	124.05	122.64
Machinery	-	883.63	834.84	293.47	269.72	252.24
Construction In Progress	-	104.08	46.66	19.2	102.14	24.88

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