Changhae Ethanol Balance Sheet

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
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
Cash & Equivalents	6,433	6,447	3,686	3,750	5,002	5,974
Short-Term Investments	5,000	-	640	-	0	-
Cash & Short-Term Investments	11,433	6,447	4,326	3,750	5,002	5,974
Cash Growth	27.47%	49.02%	15.36%	-25.02%	-16.28%	-11.89%
Accounts Receivable	23,944	23,946	24,473	23,632	22,738	23,038
Other Receivables	2,165	505.97	584.61	564.36	1,020	1,252
Receivables	31,508	29,870	30,427	29,944	29,436	30,233
Inventory	16,869	23,309	28,239	24,955	15,373	15,427
Prepaid Expenses	105.96	58.39	71.61	62.06	46.84	269.86
Other Current Assets	7,471	7,275	8,597	3,404	2,498	2,721
Total Current Assets	67,386	66,960	71,661	62,115	52,355	54,626
Property, Plant & Equipment	41,803	39,510	38,664	38,818	40,660	41,187
Long-Term Investments	28,349	27,482	24,816	37,180	35,893	38,539
Goodwill	46,921	46,921	46,921	46,921	51,118	51,118
Other Intangible Assets	303.35	303.76	303.04	305.85	310.3	439.75
Long-Term Deferred Tax Assets	730.06	730.09	517.11	306.42	1,236	758.89
Other Long-Term Assets	7,759	8,182	8,589	9,439	8,448	9,081
Total Assets	193,251	190,088	191,471	195,085	190,020	195,750
Accounts Payable	8,995	3,311	7,892	9,807	4,021	5,179
Accrued Expenses	730.82	578.39	926.33	746.07	385.47	521.65
Short-Term Debt	32,876	36,717	41,496	41,422	38,403	43,801
Current Portion of Long-Term Debt	258.03	1,866	1,375	1,281	1,281	1,281
Current Portion of Leases	497.26	626.66	627.29	278.04	331.7	94.35
Current Income Taxes Payable	3,223	2,298	2,343	639.2	1,700	3,102
Other Current Liabilities	4,302	3,773	6,318	2,574	3,073	3,600
Total Current Liabilities	50,882	49,169	60,978	56,748	49,196	57,579
Long-Term Debt	-	4,129	2,124	2,858	2,790	4,071
Long-Term Leases	26.99	291.19	232.59	114.84	95.31	23.06
Pension & Post-Retirement Benefits	-	-	-	-	171.39	319.02
Long-Term Deferred Tax Liabilities	-	-	-	86.58	-	-
Other Long-Term Liabilities	-	0	-	-	0	-
Total Liabilities	50,909	53,590	63,334	59,807	52,253	61,993
Common Stock	4,595	4,595	4,595	4,595	4,595	4,595
Additional Paid-In Capital	16,735	16,735	16,556	16,573	16,573	16,573
Retained Earnings	130,181	124,421	116,510	124,152	127,895	122,711
Treasury Stock	-12,981	-12,981	-12,981	-12,981	-12,981	-12,981
Comprehensive Income & Other	522.74	305.15	-38.81	-384.61	-1,408	-2.08
Total Common Equity	139,053	133,076	124,642	131,955	134,675	130,896
Minority Interest	3,288	3,423	3,495	3,323	3,092	2,861
Shareholders' Equity	142,342	136,499	128,137	135,278	137,767	133,757
Total Liabilities & Equity	193,251	190,088	191,471	195,085	190,020	195,750
Total Debt	33,658	43,629	45,855	45,955	42,902	49,271
Net Cash (Debt)	-22,225	-37,182	-41,529	-42,204	-37,900	-43,296
Net Cash Per Share	-2929.80	-4900.57	-5473.43	-5562.46	-4995.13	-5679.15
Filing Date Shares Outstanding	7.59	7.59	7.59	7.59	7.59	7.59
Total Common Shares Outstanding	7.59	7.59	7.59	7.59	7.59	7.59
Working Capital	16,504	17,790	10,684	5,368	3,159	-2,953
Book Value Per Share	18327.01	17539.19	16427.57	17391.40	17749.97	17251.93
Tangible Book Value	91,830	85,852	77,418	84,728	83,247	79,339
Tangible Book Value Per Share	12102.98	11315.11	10203.59	11167.05	10971.87	10456.77
Land	9,399	9,399	9,399	9,399	9,361	9,361
Buildings	18,593	19,186	18,844	18,347	18,085	17,864
Machinery	77,779	83,619	85,941	82,712	80,771	77,717
Construction In Progress	3,922	560.4	336.42	183.38	9.36	53.52

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