Wolong New Energy Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

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	539.27	460.59	530.45	674.15	1,146	2,691
Trading Asset Securities	-	-	2.32	-	0.29	-
Cash & Short-Term Investments	539.27	460.59	532.77	674.15	1,146	2,691
Cash Growth	22.07%	-13.55%	-20.97%	-41.19%	-57.40%	5.42%
Accounts Receivable	553.34	715.25	1,049	92.04	71.13	2.97
Other Receivables	106.67	48.28	67.25	54.19	117.49	120.64
Receivables	660.01	763.54	1,117	146.23	188.62	123.61
Inventory	2,799	2,748	3,490	3,561	3,881	3,488
Prepaid Expenses	-	40.06	28.96	66.55	30.69	52.02
Other Current Assets	556.79	539.77	362.04	230.7	203.57	184.4
Total Current Assets	4,555	4,552	5,530	4,679	5,450	6,539
Property, Plant & Equipment	2,982	2,922	2,050	737.15	160.84	72.78
Long-Term Investments	498.53	504.38	625.48	678.05	775.86	844.98
Goodwill	4.71	4.71	4.71	-	-	-
Other Intangible Assets	54.36	57	26.68	3.41	3.34	3.41
Long-Term Deferred Tax Assets	30.46	38.66	59.51	33.65	30.23	17.03
Long-Term Deferred Charges	-	46.44	8.59	23.06	1.86	0.87
Other Long-Term Assets	500.85	462.26	357.57	45.67	45.97	45.87
Total Assets	8,625	8,587	8,662	6,200	6,468	7,524

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
Accounts Payable	1,351	1,332	1,194	666.59	550.06	571.73
Accrued Expenses	106.87	98.48	237.83	430.4	615.77	694.62
Short-Term Debt	180.07	180.07	415.39	-	-	44.43
Current Portion of Long-Term Debt	263.62	214.27	134.74	-	-	-
Current Portion of Leases	-	16.57	3.45	-	0.34	0.54
Current Income Taxes Payable	-	52.89	87.9	26.44	74.96	134.27
Current Unearned Revenue	610.72	499.88	465.28	991.66	1,340	2,227
Other Current Liabilities	229.97	621.21	318.71	174.22	177.8	271.77
Total Current Liabilities	2,742	3,016	2,857	2,289	2,759	3,944
Long-Term Debt	1,285	1,004	386.72	100	-	-
Long-Term Leases	94.79	88.72	66.6	-	-	-
Long-Term Unearned Revenue	0.45	0.46	0.65	-	-	-
Long-Term Deferred Tax Liabilities	8.4	8.46	7.48	6.25	8.26	17.23
Other Long-Term Liabilities	-	-	16.88	-	-	-
Total Liabilities	4,131	4,118	3,335	2,396	2,768	3,961

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
Common Stock	700.51	700.51	700.51	700.51	700.51	700.51
Additional Paid-In Capital	10.98	10.98	514.71	11.83	10.47	35.34
Retained Earnings	2,900	2,889	3,321	3,080	2,988	2,824
Treasury Stock	-35	-35	-35	-	-	-
Comprehensive Income & Other	-0.57	-0.04	-0.07	-	-	-
Total Common Equity	3,576	3,565	4,501	3,792	3,699	3,560
Minority Interest	918.6	904.48	826.17	12.48	1.44	2.25
Shareholders' Equity	4,494	4,470	5,327	3,805	3,700	3,562
Total Liabilities & Equity	8,625	8,587	8,662	6,200	6,468	7,524

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
Total Debt	1,824	1,504	1,007	100	0.34	44.97
Net Cash (Debt)	-1,285	-1,043	-474.13	574.15	1,146	2,646
Net Cash Growth	-	-	-	-49.90%	-56.69%	3.66%
Net Cash Per Share	-1.85	-1.51	-0.70	0.82	1.64	3.79
Filing Date Shares Outstanding	691.26	691.26	691.26	700.51	700.51	700.51
Total Common Shares Outstanding	691.26	691.26	691.26	700.51	700.51	700.51
Working Capital	1,813	1,536	2,673	2,390	2,691	2,595
Book Value Per Share	5.17	5.16	6.51	5.41	5.28	5.08
Tangible Book Value	3,517	3,504	4,470	3,789	3,696	3,557
Tangible Book Value Per Share	5.09	5.07	6.47	5.41	5.28	5.08
Buildings	-	529.83	479.39	479.39	1.31	1.31
Machinery	-	60.26	39.3	29.18	21.63	20.96
Construction In Progress	-	807.81	137.74	233.64	156.53	68.76