GHW International Balance Sheet

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
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
Cash & Equivalents	115.84	101.46	77.39	103.18	58.03
Trading Asset Securities	0.51	0.27	0.45	0.11	-
Cash & Short-Term Investments	116.35	101.74	77.84	103.3	58.03
Cash Growth	14.37%	30.70%	-24.64%	78.02%	-7.25%
Accounts Receivable	387.1	413.68	324.82	319.69	293.96
Other Receivables	170.53	68.89	54.84	34.31	17.36
Receivables	557.63	482.57	379.66	354	311.32
Inventory	395.57	482.56	385.3	398.08	343.62
Other Current Assets	51.15	54.52	47.02	53.92	128.28
Total Current Assets	1,121	1,121	889.82	909.29	841.24
Property, Plant & Equipment	925.52	887.99	829.55	742.39	509.01
Long-Term Investments	1.65	1.74	-	-	-
Long-Term Deferred Tax Assets	9.11	7.08	5.5	0.25	0.7
Other Long-Term Assets	11.18	11.08	0.83	10.64	0.9
Total Assets	2,068	2,047	1,742	1,679	1,367
Accounts Payable	433.36	404.02	274.97	255.97	198.01
Accrued Expenses	-	56.03	-	53.72	48.78
Short-Term Debt	-	-	-	54.6	-
Current Portion of Long-Term Debt	609.11	705.21	471.91	341.08	453.91
Current Portion of Leases	5.44	4.37	4.77	4.88	4.89
Current Income Taxes Payable	3.36	2.07	1.92	5.45	4.24
Current Unearned Revenue	60.64	33.55	25.58	24.85	39.27
Other Current Liabilities	91.56	43.88	105.33	39.78	29.99
Total Current Liabilities	1,203	1,249	884.48	780.33	779.08
Long-Term Debt	201.29	146.99	239.75	260.18	237.27
Long-Term Leases	6.05	5.79	1.89	2.69	3.93
Long-Term Deferred Tax Liabilities	21.67	23.06	26.7	32.81	7.96
Other Long-Term Liabilities	-	-	8.13	-	-
Total Liabilities	1,432	1,425	1,161	1,076	1,028
Common Stock	8.93	8.93	8.84	8.84	8.84
Additional Paid-In Capital	-	100.36	78.22	78.22	78.22
Retained Earnings	-	481.16	467.6	464.88	189.4
Treasury Stock	-	-47.23	-23.02	-	-
Comprehensive Income & Other	590.26	42.56	49.77	50.68	62.62
Total Common Equity	599.19	585.78	581.42	602.62	339.08
Minority Interest	36.5	35.79	-	-	-
Shareholders' Equity	635.69	621.58	581.42	602.62	339.08
Total Liabilities & Equity	2,068	2,047	1,742	1,679	1,367
Total Debt	821.9	862.35	718.32	663.43	700
Net Cash (Debt)	-705.54	-760.62	-640.48	-560.14	-641.98
Net Cash Per Share	-0.75	-0.81	-0.66	-0.56	-0.64
Filing Date Shares Outstanding	944.32	944.32	1,000	1,000	1,000
Total Common Shares Outstanding	944.32	944.32	1,000	1,000	1,000
Working Capital	-82.77	-127.76	5.34	128.97	62.16
Book Value Per Share	0.63	0.62	0.58	0.60	0.34
Tangible Book Value	599.19	585.78	581.42	602.62	339.08
Tangible Book Value Per Share	0.63	0.62	0.58	0.60	0.34
Buildings	-	254.2	245.44	219.37	97.36
Machinery	-	693.39	607.51	421.59	318.95
Construction In Progress	-	124.41	121.54	196.67	154
Leasehold Improvements	-	15.86	8.97	5.25	5.21

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