SHA:600115 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	12,150	7,227	4,133	12,177	18,027	12,962
Trading Asset Securities	102	124	110	81	73	84
Cash & Short-Term Investments	12,252	7,351	4,243	12,258	18,100	13,046
Cash Growth	81.56%	73.25%	-65.39%	-32.28%	38.74%	68.16%
Accounts Receivable	2,726	2,091	1,949	2,191	817	974
Other Receivables	2,013	2,715	2,761	2,118	1,970	2,026
Receivables	4,739	4,806	4,710	4,309	2,787	3,000
Inventory	2,877	2,695	1,680	1,640	1,656	1,799
Other Current Assets	9,919	10,584	8,470	7,609	5,498	10,065
Total Current Assets	29,787	25,436	19,103	25,816	28,041	27,910
Property, Plant & Equipment	240,289	238,256	228,143	227,058	229,241	230,089
Long-Term Investments	4,063	4,133	4,147	3,603	3,042	2,718
Goodwill	9,030	9,030	9,030	9,030	9,030	9,028
Other Intangible Assets	4,397	4,471	2,937	2,848	2,534	2,655
Long-Term Deferred Tax Assets	6,996	6,996	9,160	9,851	9,860	9,580
Long-Term Deferred Charges	2,365	2,331	2,461	2,479	2,161	2,452
Other Long-Term Assets	800	1,111	1,619	1,889	2,280	2,116
Total Assets	297,727	291,764	276,600	282,574	286,189	286,548
Accounts Payable	30,188	23,044	14,758	5,413	3,601	3,383
Accrued Expenses	2,221	18,300	17,664	16,596	12,602	13,583
Short-Term Debt	42,801	27,060	35,728	39,618	49,229	37,614
Current Portion of Long-Term Debt	31,650	22,351	13,848	13,388	14,779	7,385
Current Portion of Leases	-	16,623	16,997	19,428	18,620	16,350
Current Income Taxes Payable	1,696	29	70	50	35	55
Current Unearned Revenue	12,443	11,396	10,678	7,422	3,291	3,287
Other Current Liabilities	4,504	4,888	4,260	4,367	4,387	4,234
Total Current Liabilities	125,503	123,691	114,003	106,282	106,544	85,891
Long-Term Debt	58,316	52,409	53,598	58,022	57,939	50,792
Long-Term Leases	60,214	63,680	55,852	64,747	78,387	82,126
Long-Term Unearned Revenue	200	1,110	678	640	725	91
Pension & Post-Retirement Benefits	2,201	2,252	2,529	2,476	2,491	2,643
Long-Term Deferred Tax Liabilities	1	1	1	1	-	-
Other Long-Term Liabilities	10,432	9,773	8,530	9,083	9,667	10,095
Total Liabilities	256,867	252,916	235,191	241,251	255,753	231,638
Common Stock	22,088	22,088	22,291	22,291	22,291	18,874
Additional Paid-In Capital	-	52,765	53,016	53,145	53,532	41,934
Retained Earnings	-57,412	-58,873	-56,540	-51,714	-43,451	-6,359
Treasury Stock	-	-	-20	-	-	-
Comprehensive Income & Other	74,664	21,779	21,785	16,990	-2,956	-3,076
Total Common Equity	39,340	37,759	40,532	40,712	29,416	51,373
Minority Interest	1,520	1,089	877	611	1,020	3,537
Shareholders' Equity	40,860	38,848	41,409	41,323	30,436	54,910
Total Liabilities & Equity	297,727	291,764	276,600	282,574	286,189	286,548
Total Debt	192,981	182,123	176,023	195,203	218,954	194,267
Net Cash (Debt)	-180,729	-174,772	-171,780	-182,945	-200,854	-181,221
Net Cash Per Share	-8.30	-7.89	-7.71	-8.21	-10.64	-10.79
Filing Date Shares Outstanding	22,088	22,088	22,286	22,291	22,291	18,874
Total Common Shares Outstanding	22,088	22,088	22,286	22,291	22,291	18,874
Working Capital	-95,716	-98,255	-94,900	-80,466	-78,503	-57,981
Book Value Per Share	0.64	0.57	0.69	0.93	1.32	2.72
Tangible Book Value	25,913	24,258	28,565	28,834	17,852	39,690
Tangible Book Value Per Share	0.03	-0.04	0.16	0.39	0.80	2.10
Buildings	-	17,965	17,315	17,516	16,479	16,562
Machinery	-	191,587	178,111	155,625	138,349	136,124
Construction In Progress	-	14,535	17,723	17,658	17,727	15,472

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