SHA:600023 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	15,339	14,681	16,232	19,364	13,123	10,864
Trading Asset Securities	145.47	144.24	145.18	-	-	284.54
Accounts Receivable	9,388	11,374	13,218	14,704	9,363	9,481
Other Receivables	545.91	372.82	470.19	158.91	167.11	304.65
Inventory	5,807	6,495	5,885	6,538	5,536	4,329
Prepaid Expenses	-	-	-	-	0.7	-
Other Current Assets	2,531	2,230	2,362	1,680	1,555	1,888
Total Current Assets	33,756	35,298	38,312	42,444	29,745	27,152
Property, Plant & Equipment	62,826	63,518	61,407	54,222	48,218	49,510
Goodwill	280.84	280.84	745.03	1,241	-	-
Other Intangible Assets	2,990	3,029	2,869	2,965	2,439	2,385
Long-Term Investments	50,381	50,207	45,688	40,326	37,554	34,090
Long-Term Deferred Tax Assets	905.99	892.82	956.71	1,337	1,411	1,412
Long-Term Deferred Charges	450.26	473.35	563.09	621.5	687.79	416.93
Long-Term Accounts Receivable	-	1,842	1,940	2,056	-	-
Other Long-Term Assets	2,528	796.93	1,624	2,027	869.54	748.06
Total Assets	154,117	156,338	154,105	147,241	120,924	115,714
Accounts Payable	9,447	6,781	9,149	9,756	8,008	4,423
Accrued Expenses	363.05	717.54	834.23	1,256	671	905.39
Short-Term Debt	12,047	11,739	10,774	10,024	10,615	9,114
Current Portion of Long-Term Debt	5,886	7,499	7,237	5,852	4,255	2,888
Current Unearned Revenue	318.63	349.66	280.08	272.85	100.75	143.28
Current Portion of Leases	-	978.49	605.84	372.64	164.66	159.55
Current Income Taxes Payable	325.64	369.76	199.16	127.52	139.59	153.69
Other Current Liabilities	2,327	5,965	6,058	4,396	2,593	5,310
Total Current Liabilities	30,714	34,399	35,138	32,057	26,547	23,097
Long-Term Debt	26,336	25,137	27,357	32,026	24,540	18,136
Long-Term Leases	3,794	3,899	2,385	1,106	850.93	960.95
Long-Term Unearned Revenue	271.73	273.53	259.32	199.49	226.32	257.4
Long-Term Deferred Tax Liabilities	1,789	1,836	1,782	1,496	1,191	1,390
Other Long-Term Liabilities	894.8	920.13	345.27	388.35	79.48	64.63
Total Liabilities	63,800	66,466	67,266	67,274	53,434	43,906
Common Stock	13,409	13,409	13,409	13,409	13,409	13,601
Additional Paid-In Capital	24,182	22,707	22,719	23,910	23,954	24,363
Retained Earnings	36,149	35,202	32,232	27,823	21,303	23,194
Treasury Stock	-	-	-	-	-	-339.35
Comprehensive Income & Other	3,425	5,194	4,973	2,263	2,550	3,133
Total Common Equity	77,165	76,512	73,334	67,405	61,217	63,951
Minority Interest	13,152	13,359	13,505	12,563	6,273	7,858
Shareholders' Equity	90,317	89,872	86,839	79,967	67,490	71,809
Total Liabilities & Equity	154,117	156,338	154,105	147,241	120,924	115,714
Total Debt	48,063	49,253	48,358	49,381	40,426	31,259
Net Cash (Debt)	-32,578	-34,427	-31,981	-30,017	-27,302	-20,110
Net Cash Per Share	-2.42	-2.56	-2.39	-2.26	-2.09	-1.44
Filing Date Shares Outstanding	13,409	13,409	13,409	13,409	13,409	13,510
Total Common Shares Outstanding	13,409	13,409	13,409	13,409	13,409	13,510
Working Capital	3,042	898.57	3,174	10,387	3,198	4,055
Book Value Per Share	5.75	5.71	5.47	5.03	4.57	4.73
Tangible Book Value	73,894	73,203	69,719	63,198	58,777	61,566
Tangible Book Value Per Share	5.51	5.46	5.20	4.71	4.38	4.56
Buildings	-	35,011	33,270	31,789	30,286	29,880
Machinery	-	118,802	111,075	101,471	92,072	91,567
Construction In Progress	-	2,290	5,181	6,427	4,967	1,847

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