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 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	9,931	9,045	7,145	6,292	7,890	7,347
Short-Term Investments	-	-	3,786	3,718	1,493	560.5
Trading Asset Securities	18,854	15,499	16,867	15,323	11,837	11,671
Cash & Short-Term Investments	28,785	24,544	27,798	25,332	21,220	19,579
Cash Growth	17.48%	-11.70%	9.73%	19.38%	8.38%	19.08%
Accounts Receivable	3,793	3,664	3,627	4,089	4,008	4,756
Other Receivables	78.83	248.16	64.08	71.32	93.1	109.14
Receivables	4,135	8,251	6,795	7,088	7,235	8,579
Inventory	1,317	1,217	1,237	1,226	1,138	1,044
Prepaid Expenses	-	-	92.57	29.5	-	-
Other Current Assets	7,022	6,020	2,875	2,243	3,309	3,357
Total Current Assets	41,258	40,031	38,797	35,919	32,902	32,559
Property, Plant & Equipment	1,053	1,083	1,035	1,115	1,183	1,194
Long-Term Investments	5,645	4,636	4,885	5,440	8,750	9,692
Goodwill	18	18	140.88	140.88	201.06	201.06
Other Intangible Assets	502.26	518.6	512.72	501.28	502.91	448.9
Long-Term Accounts Receivable	-	-	-	0.48	23.54	83.6
Long-Term Deferred Tax Assets	506.03	503.5	845.43	941.69	807.31	462.77
Long-Term Deferred Charges	107.16	110.43	146.5	146.89	83.78	119.55
Other Long-Term Assets	226.6	228.89	207.92	123.23	133.61	148.44
Total Assets	49,317	47,130	46,570	44,328	44,587	44,909
Accounts Payable	4,671	4,927	4,812	4,473	4,235	4,291
Accrued Expenses	8,087	7,698	7,174	5,728	7,187	7,636
Short-Term Debt	6,232	5,036	8,056	8,575	8,971	9,375
Current Portion of Long-Term Debt	62.68	-	-	640.73	-	-
Current Portion of Leases	-	-	57.11	41.63	40.1	-
Current Income Taxes Payable	428.2	412.5	11.57	40.41	209.54	236.26
Current Unearned Revenue	150.03	114.51	113.42	136.1	84.59	186.17
Other Current Liabilities	469.7	578.05	569.12	773.64	687.78	697.15
Total Current Liabilities	20,100	18,766	20,793	20,409	21,415	22,422
Long-Term Debt	200.37	-	-	-	640.73	615.7
Long-Term Leases	291.46	294.7	285.38	294.52	303.31	313.1
Long-Term Unearned Revenue	15.23	7.15	8.44	4.7	5.54	5.58
Long-Term Deferred Tax Liabilities	299.09	289.52	178.1	153.53	163.86	169.52
Total Liabilities	20,906	19,357	21,265	20,861	22,528	23,526
Common Stock	5,718	5,718	5,718	5,718	5,718	5,718
Additional Paid-In Capital	5,478	5,478	5,454	4,945	4,945	4,945
Retained Earnings	10,911	12,204	10,220	9,243	8,194	7,495
Comprehensive Income & Other	1,856	63.69	113.7	74.39	-12.69	180.28
Total Common Equity	23,963	23,464	21,506	19,981	18,844	18,339
Minority Interest	4,448	4,308	3,799	3,486	3,215	3,045
Shareholders' Equity	28,411	27,772	25,305	23,466	22,059	21,383
Total Liabilities & Equity	49,317	47,130	46,570	44,328	44,587	44,909
Total Debt	6,786	5,331	8,398	9,552	9,955	10,304
Net Cash (Debt)	21,998	19,214	19,399	15,780	11,266	9,275
Net Cash Growth	25.63%	-0.96%	22.93%	40.07%	21.46%	7.28%
Net Cash Per Share	3.84	3.36	3.39	2.76	1.97	1.62
Filing Date Shares Outstanding	5,731	5,673	5,718	5,718	5,718	5,718
Total Common Shares Outstanding	5,731	5,673	5,718	5,718	5,718	5,718
Working Capital	21,158	21,265	18,004	15,510	11,487	10,137
Book Value Per Share	4.18	4.14	3.76	3.49	3.30	3.21
Tangible Book Value	23,443	22,927	20,853	19,339	18,141	17,689
Tangible Book Value Per Share	4.09	4.04	3.65	3.38	3.17	3.09
Buildings	-	-	779.38	788.15	805.71	805.85
Machinery	-	-	1,185	1,224	1,170	1,089
Construction In Progress	-	-	28.11	74.87	84.14	87.21

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