Zhongmin Energy 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	193.89	2,004	1,094	244.5	1,111	803.24
Trading Asset Securities	954.89	-	326.18	1,169	260.87	80.06
Accounts Receivable	2,490	2,269	3,057	2,445	2,000	1,700
Other Receivables	14.95	14.74	12.35	21.72	13.25	7.04
Inventory	40.37	41.16	44.86	31.97	37.41	30.37
Prepaid Expenses	-	-	0.89	-	-	9.32
Other Current Assets	51.95	41.93	39.39	128.27	246.17	358.92
Total Current Assets	3,746	4,372	4,575	4,041	3,669	2,989
Property, Plant & Equipment	6,289	6,409	6,790	7,183	7,673	8,055
Other Intangible Assets	96.98	100.21	103.27	116.2	125.24	132.1
Long-Term Investments	110.02	110	110.68	87.06	86.26	86.14
Long-Term Deferred Tax Assets	41.89	41.01	40.17	29.16	29.24	23.34
Long-Term Deferred Charges	91.82	91.69	63.06	67.41	72.01	51.22
Other Long-Term Assets	871.85	8.06	0.12	-	-	-
Total Assets	11,248	11,132	11,682	11,524	11,655	11,336
Accounts Payable	749.51	769.3	49.19	50.37	935.78	1,033
Accrued Expenses	18.29	28.14	36.38	23.83	28.73	28.02
Short-Term Debt	8	8	263.41	320.24	380.34	310.34
Current Portion of Long-Term Debt	425.86	431.21	506.27	345.35	444.47	433.09
Current Portion of Leases	-	-	1.86	2.52	3.37	20.37
Current Income Taxes Payable	101.08	82.32	61.21	58.28	60.03	22.32
Other Current Liabilities	15.31	20.75	858.53	905.27	25.77	5.06
Total Current Liabilities	1,318	1,340	1,777	1,706	1,879	1,852
Long-Term Debt	953.95	953.95	2,678	3,215	3,632	4,093
Long-Term Leases	102.13	111.2	120.98	5.04	5.64	4.91
Long-Term Unearned Revenue	2.09	2.11	2.1	1.92	1.84	1.92
Long-Term Deferred Tax Liabilities	8.15	8.82	10.65	11.57	14.1	16.61
Other Long-Term Liabilities	1,293	1,358	160.43	155.02	189.09	172.91
Total Liabilities	3,677	3,774	4,749	5,094	5,722	6,141
Common Stock	1,903	1,903	1,903	1,903	1,903	1,903
Additional Paid-In Capital	2,944	2,944	2,944	2,944	2,944	2,944
Retained Earnings	2,474	2,278	1,914	1,396	907.83	177.47
Comprehensive Income & Other	12.49	8.38	8.78	7.38	0.85	-
Total Common Equity	7,333	7,133	6,770	6,250	5,756	5,024
Minority Interest	237.5	225.01	163.93	179.31	177.88	170.76
Shareholders' Equity	7,571	7,358	6,934	6,430	5,934	5,195
Total Liabilities & Equity	11,248	11,132	11,682	11,524	11,655	11,336
Total Debt	1,490	1,504	3,570	3,888	4,466	4,861
Net Cash (Debt)	-341.17	499.87	-2,150	-2,474	-3,094	-3,978
Net Cash Per Share	-0.18	0.26	-1.13	-1.30	-1.63	-2.18
Filing Date Shares Outstanding	1,963	1,939	1,903	1,903	1,903	1,903
Total Common Shares Outstanding	1,963	1,939	1,903	1,903	1,903	1,903
Working Capital	2,428	3,032	2,798	2,335	1,791	1,136
Book Value Per Share	3.74	3.68	3.56	3.28	3.02	2.64
Tangible Book Value	7,236	7,033	6,666	6,134	5,630	4,892
Tangible Book Value Per Share	3.69	3.63	3.50	3.22	2.96	2.57
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

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