SPIC Hydropower Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-	606.49	712.24	600.69	440.52
Accounts Receivable	-	2,928	2,851	2,951	2,762
Other Receivables	-	79.29	105.6	198.27	223.06
Inventory	-	194.57	203.49	279.11	386.05
Prepaid Expenses	-	0.05	-	0.02	0.7
Loans Receivable Current	-	22.52	22.52	-	1.62
Other Current Assets	-	254.32	300.24	295.03	390.78
Total Current Assets	-	4,085	4,195	4,324	4,205
Property, Plant & Equipment	-	3,041	3,118	3,474	3,720
Goodwill	-	-	0.17	0.17	2.03
Other Intangible Assets	-	1,421	1,463	1,535	1,479
Long-Term Investments	-	641.74	630.63	647.99	612.02
Long-Term Deferred Tax Assets	-	133.82	133.53	145.08	157.71
Long-Term Deferred Charges	-	116.29	117.74	103.88	81.3
Other Long-Term Assets	-	64.28	115.42	166.07	174.51
Total Assets	-	9,503	9,774	10,396	10,431
Accounts Payable	-	1,964	1,825	1,936	1,867
Accrued Expenses	-	80.87	49.07	72.83	69.68
Short-Term Debt	-	237.5	648.21	794.28	560
Current Portion of Long-Term Debt	-	317.62	179.06	208.6	221.25
Current Unearned Revenue	-	318.03	299.32	219.13	248.04
Current Portion of Leases	-	2.56	2.33	3.84	2.68
Current Income Taxes Payable	-	13.03	9.2	9.25	6.16
Other Current Liabilities	-	209.1	206.46	309.7	444.52
Total Current Liabilities	-	3,143	3,219	3,553	3,420
Long-Term Debt	-	648.77	843.94	1,167	1,288
Long-Term Leases	-	3.16	7.53	8.49	9.4
Long-Term Unearned Revenue	-	19.04	20.8	33.42	36.21
Long-Term Deferred Tax Liabilities	-	50.91	59.93	64.69	66.05
Other Long-Term Liabilities	-	53.66	49.87	41.21	32.25
Total Liabilities	-	3,918	4,201	4,868	4,851
Common Stock	-	780.82	780.82	780.82	780.82
Additional Paid-In Capital	-	2,987	2,987	2,989	2,989
Retained Earnings	-	1,254	1,233	1,179	1,223
Comprehensive Income & Other	-	130.74	128.48	124.85	134.74
Total Common Equity	5,209	5,153	5,129	5,074	5,128
Minority Interest	-	432.1	443.2	454.39	451.92
Shareholders' Equity	5,631	5,585	5,573	5,528	5,580
Total Liabilities & Equity	-	9,503	9,774	10,396	10,431
Total Debt	1,816	1,210	1,681	2,182	2,081
Net Cash (Debt)	-1,172	-603.13	-968.83	-1,581	-1,640
Net Cash Per Share	-0.26	-0.84	-1.26	-2.25	-2.07
Filing Date Shares Outstanding	4,380	780.82	780.82	780.82	780.82
Total Common Shares Outstanding	4,380	780.82	780.82	780.82	780.82
Working Capital	-	942.51	975.83	770.47	784.89
Book Value Per Share	6.67	6.60	6.57	6.50	6.57
Tangible Book Value	3,845	3,732	3,666	3,539	3,647
Tangible Book Value Per Share	4.92	4.78	4.70	4.53	4.67
Buildings	-	1,155	1,165	1,344	1,138
Machinery	-	5,002	4,934	4,879	5,087
Construction In Progress	-	155.84	55.23	45.26	38.18

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.