Baoji Titanium Industry 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	-	942.27	926.12	910.11	1,635
Cash & Short-Term Investments	1,193	942.27	926.12	910.11	1,635
Cash Growth	26.64%	1.74%	1.76%	-44.34%	75.98%
Accounts Receivable	-	4,175	3,834	4,080	3,379
Other Receivables	-	0.44	0.32	3.33	14.37
Receivables	-	4,176	3,835	4,083	3,393
Inventory	-	3,919	3,702	3,565	2,996
Prepaid Expenses	-	17.19	0.2	1.82	0.3
Other Current Assets	-	79.47	205.91	264.82	386.22
Total Current Assets	-	9,134	8,669	8,824	8,411
Property, Plant & Equipment	-	3,719	3,404	3,268	2,985
Long-Term Investments	-	35.98	12.75	11.74	10.96
Other Intangible Assets	-	262.81	178.38	183.68	189.87
Long-Term Accounts Receivable	-	0.05	0.04	0.04	0.04
Long-Term Deferred Tax Assets	-	134.32	100.87	72.69	46.33
Long-Term Deferred Charges	-	19.82	20.85	20.63	0.11
Other Long-Term Assets	-	45.9	107.13	78.1	113.66
Total Assets	-	13,351	12,493	12,460	11,757
Accounts Payable	-	1,842	1,620	1,577	1,452
Accrued Expenses	-	123.19	97.54	86.82	86.22
Short-Term Debt	-	380.23	374.2	250.22	400.38
Current Portion of Long-Term Debt	-	965.66	453.96	423.63	8.67
Current Portion of Leases	-	52.58	20.73	73.46	38.24
Current Income Taxes Payable	-	17.94	24.32	20	25.01
Current Unearned Revenue	-	128.38	200.03	173.31	319.7
Other Current Liabilities	-	910.48	882.82	1,316	890.59
Total Current Liabilities	-	4,421	3,673	3,921	3,221
Long-Term Debt	-	940.7	1,405	1,464	1,744
Long-Term Leases	-	62.43	31.35	64.11	100.13
Long-Term Unearned Revenue	-	244.58	207.88	212.07	196.05
Long-Term Deferred Tax Liabilities	-	52.14	30.88	33.98	13.11
Total Liabilities	-	5,721	5,348	5,694	5,274
Common Stock	-	477.78	477.78	477.78	477.78
Additional Paid-In Capital	-	4,301	4,296	4,292	4,292
Retained Earnings	-	2,160	1,751	1,420	1,268
Comprehensive Income & Other	-	15.8	9.99	3.29	0.56
Total Common Equity	7,064	6,955	6,535	6,193	6,038
Minority Interest	-	675.98	609.94	572.64	444.13
Shareholders' Equity	8,057	7,631	7,145	6,765	6,483
Total Liabilities & Equity	-	13,351	12,493	12,460	11,757
Total Debt	3,020	2,402	2,285	2,275	2,291
Net Cash (Debt)	-1,827	-1,459	-1,359	-1,365	-656.13
Net Cash Per Share	-3.82	-3.05	-2.84	-2.86	-1.38
Filing Date Shares Outstanding	477.78	477.78	477.78	477.78	477.78
Total Common Shares Outstanding	477.78	477.78	477.78	477.78	477.78
Working Capital	-	4,713	4,996	4,904	5,190
Book Value Per Share	14.79	14.56	13.68	12.96	12.64
Tangible Book Value	6,741	6,692	6,356	6,009	5,849
Tangible Book Value Per Share	14.11	14.01	13.30	12.58	12.24
Buildings	-	1,635	1,302	1,151	1,059
Machinery	-	4,994	4,627	3,966	3,669
Construction In Progress	-	117.5	259.92	645.36	493.18

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