Grandblue Environment 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	2,528	2,730	4,258	1,523	1,107	1,307
Trading Asset Securities	-	-	139.28	-	-	-
Accounts Receivable	9,839	9,163	5,298	4,894	3,877	2,193
Other Receivables	277.1	258.47	121.08	162.73	201.12	115.48
Inventory	328.66	292.27	225.55	235.21	263.91	270.47
Prepaid Expenses	-	-	5.98	6.49	6.73	30.81
Other Current Assets	1,035	1,054	894.57	985.95	976.62	928.95
Total Current Assets	14,008	13,497	10,943	7,808	6,432	4,846
Property, Plant & Equipment	6,639	6,829	5,996	6,138	6,117	5,817
Goodwill	1,393	1,393	413.1	413.1	413.1	413.1
Other Intangible Assets	26,115	26,238	12,121	11,836	10,689	9,430
Long-Term Investments	3,052	3,028	1,381	1,114	760.51	587.11
Long-Term Deferred Tax Assets	416.83	407.12	287.54	263.98	260.99	204.96
Long-Term Deferred Charges	129.52	127.65	98.16	114.82	117.41	99.01
Long-Term Accounts Receivable	-	-	7,568	7,723	8,106	7,498
Other Long-Term Assets	10,486	10,699	496.41	387.59	392.67	384.16
Total Assets	62,238	62,217	39,305	35,798	33,288	29,278
Accounts Payable	3,378	3,968	3,139	3,374	3,453	3,151
Accrued Expenses	825.97	463.59	564.5	516.29	446.87	349.9
Short-Term Debt	4,154	3,014	3,017	2,464	2,336	1,916
Current Portion of Long-Term Debt	-	4,440	2,184	2,269	2,665	1,034
Current Unearned Revenue	418.83	431.06	370	296.15	237.65	273.2
Current Portion of Leases	-	-	64.79	43.83	38.1	233.33
Current Income Taxes Payable	-	534.94	143.78	167.12	95.32	90.57
Other Current Liabilities	4,628	1,654	913.34	777.98	594.52	540.5
Total Current Liabilities	13,405	14,505	10,397	9,908	9,867	7,588
Long-Term Debt	3,028	25,847	11,493	10,847	9,584	9,020
Long-Term Leases	56.8	54.72	71.11	91.53	121.79	111.53
Long-Term Unearned Revenue	1,366	1,382	1,451	1,512	1,550	1,562
Pension & Post-Retirement Benefits	-	-	18.45	25.1	25.53	25.89
Long-Term Deferred Tax Liabilities	1,678	1,701	611.75	538.12	511.53	434.41
Other Long-Term Liabilities	23,393	155.33	42.73	35.75	34.11	-
Total Liabilities	42,926	43,643	24,084	22,958	21,693	18,743
Common Stock	815.35	815.35	815.35	815.35	815.35	815.35
Additional Paid-In Capital	2,435	2,434	2,451	2,443	2,455	2,455
Retained Earnings	11,754	11,175	10,058	8,785	7,535	6,573
Comprehensive Income & Other	201.78	185.37	78.31	75.4	73.15	61.51
Total Common Equity	15,205	14,610	13,402	12,119	10,879	9,905
Minority Interest	4,107	3,964	1,819	720.92	716.11	631.09
Shareholders' Equity	19,313	18,574	15,221	12,840	11,595	10,536
Total Liabilities & Equity	62,238	62,217	39,305	35,798	33,288	29,278
Total Debt	7,239	33,355	16,830	15,715	14,745	12,315
Net Cash (Debt)	-4,711	-30,624	-12,432	-14,192	-13,639	-11,008
Net Cash Per Share	-5.76	-37.56	-15.24	-17.37	-16.73	-13.72
Filing Date Shares Outstanding	815.45	817.28	815.35	815.35	815.35	815.35
Total Common Shares Outstanding	815.45	817.28	815.35	815.35	815.35	815.35
Working Capital	603.06	-1,008	546.51	-2,101	-3,435	-2,743
Book Value Per Share	18.65	17.88	16.44	14.86	13.34	12.15
Tangible Book Value	-12,302	-13,020	867.84	-129.95	-223.24	61.81
Tangible Book Value Per Share	-15.09	-15.93	1.06	-0.16	-0.27	0.08
Buildings	-	-	2,486	2,439	2,332	2,279
Machinery	-	-	1,819	1,728	1,561	1,320
Construction In Progress	-	-	274.09	281.6	357.37	335.82

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