Shandong Hi-speed Company Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	2,149	2,763	4,438	5,341	4,734	2,336
Short-Term Investments	-	1,646	1,159	491.05	336.03	113.25
Trading Asset Securities	923.28	784.28	887.43	1,238	-	502.68
Cash & Short-Term Investments	3,073	5,193	6,484	7,071	5,070	2,951
Cash Growth	-52.79%	-19.91%	-8.29%	39.47%	71.76%	1.61%
Accounts Receivable	9,585	9,524	9,074	5,818	2,664	980.73
Other Receivables	4,394	5,136	4,589	5,798	4,280	4,267
Receivables	13,979	14,661	13,662	11,616	6,944	5,248
Inventory	1,266	896.44	926.6	1,041	1,456	1,394
Other Current Assets	7,341	3,520	3,240	3,334	2,942	3,886
Total Current Assets	25,659	24,270	24,313	23,062	16,411	13,480
Property, Plant & Equipment	14,613	15,031	14,246	14,848	14,581	18,311
Long-Term Investments	22,383	21,856	20,887	19,035	17,791	16,481
Goodwill	361.13	361.13	569.93	688.16	627.51	-
Other Intangible Assets	82,131	82,530	74,310	70,152	63,756	48,126
Long-Term Accounts Receivable	-	642.77	294.75	-	-	-
Long-Term Deferred Tax Assets	1,258	1,241	1,081	1,018	870.81	732.22
Long-Term Deferred Charges	75.58	93.06	91.57	141.09	40.79	5.71
Other Long-Term Assets	16,466	15,664	15,926	15,217	11,828	2,541
Total Assets	162,947	161,688	151,720	144,161	125,906	99,677
Accounts Payable	16,823	17,832	14,763	13,558	10,520	5,029
Accrued Expenses	141.01	689.59	608.01	549.58	596.57	363.24
Short-Term Debt	5,437	6,002	6,360	5,361	5,467	5,376
Current Portion of Long-Term Debt	6,633	6,227	4,405	3,501	2,446	-
Current Portion of Leases	-	34.17	8.13	6.04	7.09	-
Current Income Taxes Payable	562.93	385.18	279.7	179.35	437.25	432.18
Current Unearned Revenue	686.2	515.09	274.06	466.64	151.77	119.56
Other Current Liabilities	6,736	5,555	5,400	4,415	4,425	7,858
Total Current Liabilities	37,019	37,240	32,099	28,036	24,050	19,178
Long-Term Debt	61,340	61,224	59,204	54,819	50,011	37,551
Long-Term Leases	318.15	261.71	221.87	450.34	82.99	75.91
Long-Term Unearned Revenue	2,351	2,345	2,406	2,564	2,353	1,594
Pension & Post-Retirement Benefits	235.77	243.59	194.08	170.4	197.83	214.29
Long-Term Deferred Tax Liabilities	2,405	2,432	2,156	1,972	1,709	1,104
Other Long-Term Liabilities	338.18	646.45	497.04	947.55	698.07	767.9
Total Liabilities	104,007	104,392	96,778	88,959	79,102	60,484
Common Stock	4,835	4,852	4,840	4,827	4,811	4,811
Additional Paid-In Capital	527.46	574.71	531.36	2,230	1,209	2,527
Retained Earnings	24,102	24,061	23,502	24,030	22,898	21,993
Comprehensive Income & Other	15,124	13,800	12,831	10,168	8,281	3,248
Total Common Equity	44,588	43,288	41,705	41,255	37,198	32,579
Minority Interest	14,352	14,008	13,237	13,947	9,606	6,614
Shareholders' Equity	58,939	57,296	54,942	55,202	46,804	39,193
Total Liabilities & Equity	162,947	161,688	151,720	144,161	125,906	99,677
Total Debt	73,729	73,748	70,199	64,137	58,013	43,003
Net Cash (Debt)	-70,656	-68,555	-63,714	-57,066	-52,944	-40,051
Net Cash Per Share	-12.08	-11.58	-11.07	-10.14	-10.34	-7.92
Filing Date Shares Outstanding	4,835	4,852	4,840	4,827	4,811	4,811
Total Common Shares Outstanding	4,835	4,852	4,840	4,827	4,811	4,811
Working Capital	-11,360	-12,970	-7,785	-4,974	-7,639	-5,698
Book Value Per Share	6.12	6.14	5.99	6.45	6.03	6.11
Tangible Book Value	-37,904	-39,604	-33,176	-29,584	-27,186	-15,547
Tangible Book Value Per Share	-10.94	-10.94	-9.48	-8.22	-7.35	-3.90
Buildings	-	5,977	6,041	6,865	4,097	3,652
Machinery	-	4,980	4,714	4,531	3,896	3,121
Construction In Progress	-	1,056	2,654	1,862	4,624	8,633

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