State Grid Yingda 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	8,527	7,145	6,292	7,890	7,347	5,724
Short-Term Investments	1,175	3,786	3,718	1,493	560.5	-
Trading Asset Securities	20,287	16,867	15,323	11,837	11,671	10,718
Cash & Short-Term Investments	29,989	27,798	25,332	21,220	19,579	16,442
Cash Growth	18.00%	9.73%	19.38%	8.38%	19.08%	12.35%
Accounts Receivable	3,446	3,627	4,089	4,008	4,756	5,220
Other Receivables	50.37	64.08	71.32	93.1	109.14	103.94
Receivables	7,808	6,795	7,088	7,235	8,579	8,067
Inventory	1,666	1,237	1,226	1,138	1,044	814.2
Prepaid Expenses	-	92.57	29.5	-	-	-
Other Current Assets	2,404	2,875	2,243	3,309	3,357	1,950
Total Current Assets	41,867	38,797	35,919	32,902	32,559	27,273
Property, Plant & Equipment	1,014	1,035	1,115	1,183	1,194	879.12
Long-Term Investments	4,413	4,885	5,440	8,750	9,692	10,215
Goodwill	140.88	140.88	140.88	201.06	201.06	201.06
Other Intangible Assets	489.29	512.72	501.28	502.91	448.9	408.34
Long-Term Accounts Receivable	-	-	0.48	23.54	83.6	69.83
Long-Term Deferred Tax Assets	883.04	845.43	941.69	807.31	462.77	300.62
Long-Term Deferred Charges	127.84	146.5	146.89	83.78	119.55	115.93
Other Long-Term Assets	367.03	207.92	123.23	133.61	148.44	197.87
Total Assets	49,302	46,570	44,328	44,587	44,909	39,680
Accounts Payable	4,907	4,812	4,473	4,235	4,291	3,803
Accrued Expenses	7,827	7,174	5,728	7,187	7,636	5,855
Short-Term Debt	5,129	8,056	8,575	8,971	9,375	7,287
Current Portion of Long-Term Debt	-	-	640.73	-	-	-
Current Portion of Leases	198.65	57.11	41.63	40.1	-	-
Current Income Taxes Payable	584.19	11.57	40.41	209.54	236.26	143.19
Current Unearned Revenue	159.86	113.42	136.1	84.59	186.17	106.74
Other Current Liabilities	2,424	569.12	773.64	687.78	697.15	1,020
Total Current Liabilities	21,230	20,793	20,409	21,415	22,422	18,215
Long-Term Debt	-	-	-	640.73	615.7	509.07
Long-Term Leases	288.69	285.38	294.52	303.31	313.1	-
Long-Term Unearned Revenue	13.92	8.44	4.7	5.54	5.58	6.79
Long-Term Deferred Tax Liabilities	175.32	178.1	153.53	163.86	169.52	135.06
Other Long-Term Liabilities	-	-	-	-	-	770.67
Total Liabilities	21,708	21,265	20,861	22,528	23,526	19,636
Common Stock	5,718	5,718	5,718	5,718	5,718	5,718
Additional Paid-In Capital	5,478	5,454	4,945	4,945	4,945	4,931
Retained Earnings	11,921	10,220	9,243	8,194	7,495	6,616
Comprehensive Income & Other	41.24	113.7	74.39	-12.69	180.28	4.42
Total Common Equity	23,159	21,506	19,981	18,844	18,339	17,270
Minority Interest	4,435	3,799	3,486	3,215	3,045	2,774
Shareholders' Equity	27,594	25,305	23,466	22,059	21,383	20,044
Total Liabilities & Equity	49,302	46,570	44,328	44,587	44,909	39,680
Total Debt	5,617	8,398	9,552	9,955	10,304	7,796
Net Cash (Debt)	24,373	19,399	15,780	11,266	9,275	8,646
Net Cash Growth	27.65%	22.93%	40.07%	21.46%	7.28%	4.30%
Net Cash Per Share	4.25	3.39	2.76	1.97	1.62	1.56
Filing Date Shares Outstanding	5,718	5,718	5,718	5,718	5,718	5,718
Total Common Shares Outstanding	5,718	5,718	5,718	5,718	5,718	5,718
Working Capital	20,637	18,004	15,510	11,487	10,137	9,058
Book Value Per Share	4.05	3.76	3.49	3.30	3.21	3.02
Tangible Book Value	22,529	20,853	19,339	18,141	17,689	16,661
Tangible Book Value Per Share	3.94	3.65	3.38	3.17	3.09	2.91
Buildings	-	779.38	788.15	805.71	805.85	812.66
Machinery	-	1,185	1,224	1,170	1,089	1,060
Construction In Progress	-	28.11	74.87	84.14	87.21	49.65

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