SHA:600032 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	1,926	2,591	1,879	2,423	2,409	3,835
Accounts Receivable	8,563	8,213	8,582	7,518	6,264	4,734
Other Receivables	17.4	17.24	21.68	86.5	84.05	83.87
Inventory	11.06	10.04	9.3	8.53	6.41	7.75
Prepaid Expenses	-	0.02	0	-	-	-
Other Current Assets	1,085	1,038	1,023	852.88	741.72	352.36
Total Current Assets	11,603	11,869	11,516	10,889	9,506	9,013
Property, Plant & Equipment	39,976	40,308	41,110	36,428	32,472	28,264
Goodwill	20.92	20.92	25.91	47.8	57.35	78.1
Other Intangible Assets	400.73	408.14	399.26	383.61	365.69	264.49
Long-Term Investments	3,872	4,305	4,062	3,679	3,166	2,806
Long-Term Deferred Tax Assets	183.79	168.16	159.51	161.15	117.6	75.84
Long-Term Deferred Charges	22.95	191.96	176.84	173.9	131.4	135.9
Other Long-Term Assets	1,882	1,387	1,454	1,170	841.37	965.65
Total Assets	57,962	58,658	58,903	52,931	46,657	41,604
Accounts Payable	1,433	1,419	2,738	1,718	1,369	2,008
Accrued Expenses	49.67	185.56	212.32	188.14	172.11	117.58
Short-Term Debt	1,948	2,242	2,165	1,445	2,381	5,052
Current Portion of Long-Term Debt	3,641	3,508	2,390	2,685	1,797	1,073
Current Unearned Revenue	-	10.66	16	42.42	49.91	2.46
Current Portion of Leases	-	475.63	363.7	1,196	962.41	1,542
Current Income Taxes Payable	134.88	39.92	49.09	53.25	37.34	49.28
Other Current Liabilities	992.51	1,510	1,059	1,054	660.97	2,720
Total Current Liabilities	8,198	9,392	8,993	8,380	7,430	12,565
Long-Term Debt	26,843	26,202	26,998	23,078	20,965	14,514
Long-Term Leases	3,138	3,311	3,861	2,917	3,714	2,168
Long-Term Unearned Revenue	34.54	34.76	35.16	36.97	38.77	40.64
Long-Term Deferred Tax Liabilities	215.76	209.06	229.32	234.62	213.86	71.03
Other Long-Term Liabilities	26.78	26.78	-	-	-	-
Total Liabilities	38,456	39,175	40,117	34,647	32,361	29,358
Common Stock	2,405	2,405	2,405	2,405	2,080	2,080
Additional Paid-In Capital	6,936	6,936	6,942	6,874	4,200	4,199
Retained Earnings	3,479	3,451	3,070	2,807	2,346	1,664
Comprehensive Income & Other	31.53	20.57	15.24	11.97	1.06	0.07
Total Common Equity	12,851	12,812	12,432	12,097	8,627	7,943
Minority Interest	6,654	6,671	6,354	6,187	5,669	4,302
Shareholders' Equity	19,506	19,483	18,786	18,284	14,296	12,245
Total Liabilities & Equity	57,962	58,658	58,903	52,931	46,657	41,604
Total Debt	35,569	35,739	35,779	31,320	29,819	24,349
Net Cash (Debt)	-33,643	-33,149	-33,899	-28,897	-27,409	-20,513
Net Cash Per Share	-13.99	-13.79	-14.10	-12.58	-13.18	-10.29
Filing Date Shares Outstanding	2,405	2,405	2,405	2,405	2,080	2,080
Total Common Shares Outstanding	2,405	2,405	2,405	2,405	2,080	2,080
Working Capital	3,405	2,477	2,522	2,509	2,075	-3,551
Book Value Per Share	5.34	5.33	5.17	5.03	4.15	3.82
Tangible Book Value	12,430	12,383	12,006	11,666	8,204	7,601
Tangible Book Value Per Share	5.17	5.15	4.99	4.85	3.94	3.65
Buildings	-	13,666	14,266	14,072	12,592	12,469
Machinery	-	37,252	34,366	27,400	24,203	20,576
Construction In Progress	-	1,399	2,611	3,440	2,501	587.84

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