Zhongmin Energy Balance Sheet

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

Millions CNY. 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	2,303	1,094	244.5	1,111	803.24	896.35
Trading Asset Securities	76.06	326.18	1,169	260.87	80.06	-
Accounts Receivable	2,264	3,057	2,445	2,000	1,700	1,085
Other Receivables	10.9	12.35	21.72	13.25	7.04	14.19
Inventory	43.08	44.86	31.97	37.41	30.37	24.26
Prepaid Expenses	-	0.89	-	-	9.32	-
Other Current Assets	59.6	39.39	128.27	246.17	358.92	393.94
Total Current Assets	4,757	4,575	4,041	3,669	2,989	2,414
Property, Plant & Equipment	6,387	6,790	7,183	7,673	8,055	7,695
Other Intangible Assets	93.34	103.27	116.2	125.24	132.1	144
Long-Term Investments	110.74	110.68	87.06	86.26	86.14	56.07
Long-Term Deferred Tax Assets	40.59	40.17	29.16	29.24	23.34	15.05
Long-Term Deferred Charges	78.54	63.06	67.41	72.01	51.22	54.97
Other Long-Term Assets	-	0.12	-	-	-	13.75
Total Assets	11,467	11,682	11,524	11,655	11,336	10,393
Accounts Payable	775.67	49.19	50.37	935.78	1,033	1,325
Accrued Expenses	4.29	36.38	23.83	28.73	28.02	21.78
Short-Term Debt	428.51	263.41	320.24	380.34	310.34	340.42
Current Portion of Long-Term Debt	419.43	506.27	345.35	444.47	433.09	576.07
Current Portion of Leases	-	1.86	2.52	3.37	20.37	17.5
Current Income Taxes Payable	38.69	61.21	58.28	60.03	22.32	44.14
Other Current Liabilities	20.12	858.53	905.27	25.77	5.06	2.72
Total Current Liabilities	1,687	1,777	1,706	1,879	1,852	2,328
Long-Term Debt	2,336	2,678	3,215	3,632	4,093	2,744
Long-Term Leases	113.39	120.98	5.04	5.64	4.91	-
Long-Term Unearned Revenue	2.05	2.1	1.92	1.84	1.92	1.92
Long-Term Deferred Tax Liabilities	7.17	10.65	11.57	14.1	16.61	19.13
Other Long-Term Liabilities	164.62	160.43	155.02	189.09	172.91	1,536
Total Liabilities	4,309	4,749	5,094	5,722	6,141	6,628
Common Stock	1,903	1,903	1,903	1,903	1,903	1,689
Additional Paid-In Capital	2,944	2,944	2,944	2,944	2,944	2,358
Retained Earnings	2,084	1,914	1,396	907.83	177.47	-504.05
Comprehensive Income & Other	17.34	8.78	7.38	0.85	-	74.93
Total Common Equity	6,948	6,770	6,250	5,756	5,024	3,618
Minority Interest	208.79	163.93	179.31	177.88	170.76	145.93
Shareholders' Equity	7,157	6,934	6,430	5,934	5,195	3,764
Total Liabilities & Equity	11,467	11,682	11,524	11,655	11,336	10,393
Total Debt	3,297	3,570	3,888	4,466	4,861	3,678
Net Cash (Debt)	-917.47	-2,150	-2,474	-3,094	-3,978	-2,781
Net Cash Per Share	-0.47	-1.13	-1.30	-1.63	-2.18	-1.53
Filing Date Shares Outstanding	1,903	1,903	1,903	1,903	1,903	1,689
Total Common Shares Outstanding	1,903	1,903	1,903	1,903	1,903	1,689
Working Capital	3,070	2,798	2,335	1,791	1,136	86.63
Book Value Per Share	3.65	3.56	3.28	3.02	2.64	2.14
Tangible Book Value	6,855	6,666	6,134	5,630	4,892	3,474
Tangible Book Value Per Share	3.60	3.50	3.22	2.96	2.57	2.06
Buildings	-	234.9	245.1	243.32	259.29	-
Machinery	-	10,079	10,098	10,103	8,857	-
Construction In Progress	-	16.06	13.9	14.14	1,149	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.