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	801.11	1,369	712.24	600.69	440.52
Short-Term Investments	13.07	96.59	-	-	-
Accounts Receivable	4,830	9,403	2,851	2,951	2,762
Other Receivables	4,318	1,132	105.6	198.27	223.06
Inventory	191.67	211.59	203.49	279.11	386.05
Prepaid Expenses	-	-	-	0.02	0.7
Loans Receivable Current	-	-	22.52	-	1.62
Other Current Assets	477.51	878.2	300.24	295.03	390.78
Total Current Assets	10,632	13,090	4,195	4,324	4,205
Property, Plant & Equipment	48,090	69,082	3,118	3,474	3,720
Goodwill	12.72	123.99	0.17	0.17	2.03
Other Intangible Assets	1,923	2,063	1,463	1,535	1,479
Long-Term Investments	1,338	1,289	630.63	647.99	612.02
Long-Term Deferred Tax Assets	359.54	419.34	133.53	145.08	157.71
Long-Term Deferred Charges	160.56	178.2	117.74	103.88	81.3
Other Long-Term Assets	1,050	1,982	115.42	166.07	174.51
Total Assets	63,566	88,228	9,774	10,396	10,431
Accounts Payable	4,024	3,870	1,825	1,936	1,867
Accrued Expenses	223.12	251.72	49.07	72.83	69.68
Short-Term Debt	7,525	7,242	648.21	794.28	560
Current Portion of Long-Term Debt	2,239	8,588	179.06	208.6	221.25
Current Unearned Revenue	297.82	375.78	299.32	219.13	248.04
Current Portion of Leases	20.56	12.12	2.33	3.84	2.68
Current Income Taxes Payable	296.71	122.72	9.2	9.25	6.16
Other Current Liabilities	6,853	2,258	206.46	309.7	444.52
Total Current Liabilities	21,479	22,721	3,219	3,553	3,420
Long-Term Debt	18,578	30,928	843.94	1,167	1,288
Long-Term Leases	303.35	388.43	7.53	8.49	9.4
Long-Term Unearned Revenue	17.02	29.71	20.8	33.42	36.21
Pension & Post-Retirement Benefits	1.32	-	-	-	-
Long-Term Deferred Tax Liabilities	56.44	60.9	59.93	64.69	66.05
Other Long-Term Liabilities	2,476	2,576	49.87	41.21	32.25
Total Liabilities	42,911	56,704	4,201	4,868	4,851
Common Stock	4,380	780.82	780.82	780.82	780.82
Additional Paid-In Capital	8,193	11,077	2,987	2,989	2,989
Retained Earnings	4,241	4,324	1,233	1,179	1,223
Comprehensive Income & Other	200.91	222.94	128.48	124.85	134.74
Total Common Equity	17,016	16,404	5,129	5,074	5,128
Minority Interest	3,639	15,120	443.2	454.39	451.92
Shareholders' Equity	20,654	31,524	5,573	5,528	5,580
Total Liabilities & Equity	63,566	88,228	9,774	10,396	10,431
Total Debt	28,666	47,159	1,681	2,182	2,081
Net Cash (Debt)	-27,852	-45,693	-968.83	-1,581	-1,640
Net Cash Per Share	-6.28	-10.19	-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	-10,847	-9,631	975.83	770.47	784.89
Book Value Per Share	3.88	21.01	6.57	6.50	6.57
Tangible Book Value	15,079	14,217	3,666	3,539	3,647
Tangible Book Value Per Share	3.44	18.21	4.70	4.53	4.67
Buildings	44,093	47,402	1,165	1,344	1,138
Machinery	40,512	58,058	4,934	4,879	5,087
Construction In Progress	3,519	6,473	55.23	45.26	38.18

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