SHA:600452 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	2,957	2,751	2,274	2,212	1,183
Accounts Receivable	592.11	541.91	860.98	874.69	582.37
Other Receivables	3.16	5.3	13.63	4.01	5.06
Inventory	1.33	1.34	1.1	1.09	1.1
Other Current Assets	19.37	19.21	20.27	0.83	8.46
Total Current Assets	3,573	3,319	3,170	3,093	1,780
Property, Plant & Equipment	2,601	2,964	3,267	3,634	4,250
Other Intangible Assets	38.31	40.89	43.4	44.15	44.84
Long-Term Investments	128.01	126.28	121.73	124.96	136.42
Long-Term Deferred Tax Assets	52.87	46.63	49.03	37.79	24.19
Long-Term Deferred Charges	2.8	2.92	1.42	0.35	-
Other Long-Term Assets	0.56	5.96	-	51.5	48.94
Total Assets	6,396	6,506	6,652	6,986	6,285
Accounts Payable	571.43	958.53	1,473	1,817	1,572
Accrued Expenses	5.53	33.09	7.55	29.44	22.66
Short-Term Debt	-	-	-	280	280
Current Unearned Revenue	12.45	10.05	10.6	35.53	85.18
Current Portion of Leases	11.73	4.85	8.63	15.38	20.18
Current Income Taxes Payable	17.16	10.75	6.49	37.68	24.81
Other Current Liabilities	108.26	123.72	132.99	145.01	137.59
Total Current Liabilities	726.56	1,141	1,639	2,361	2,142
Long-Term Leases	9.13	7.6	4.15	8.21	24.63
Long-Term Unearned Revenue	45.32	46.15	25.55	11.2	10.89
Long-Term Deferred Tax Liabilities	0.06	0.01	0.33	0.46	0.04
Other Long-Term Liabilities	0.65	-	-	-	-
Total Liabilities	781.72	1,195	1,669	2,380	2,178
Common Stock	1,537	1,537	1,098	914.61	762.17
Additional Paid-In Capital	2,072	2,024	1,975	1,959	1,952
Retained Earnings	2,003	1,748	1,909	1,731	1,393
Comprehensive Income & Other	2.46	1.87	1.26	-	-
Shareholders' Equity	5,615	5,311	4,983	4,605	4,107
Total Liabilities & Equity	6,396	6,506	6,652	6,986	6,285
Total Debt	20.86	12.45	12.78	303.6	324.81
Net Cash (Debt)	2,936	2,739	2,261	1,909	858.07
Net Cash Growth	7.19%	21.14%	18.45%	122.45%	-
Net Cash Per Share	1.94	1.76	1.46	1.25	0.56
Filing Date Shares Outstanding	1,537	1,537	1,537	1,537	1,537
Total Common Shares Outstanding	1,537	1,537	1,537	1,537	1,537
Working Capital	2,846	2,178	1,530	732.49	-362.43
Book Value Per Share	3.65	3.46	3.24	3.00	2.67
Tangible Book Value	5,576	5,270	4,939	4,561	4,062
Tangible Book Value Per Share	3.63	3.43	3.21	2.97	2.64
Buildings	232.58	232.84	224.74	160	143.79
Machinery	8,920	9,688	8,807	8,750	8,052
Construction In Progress	123.63	69.18	564.91	237.85	523.23

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