Jiangxi Changyun 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	416.88	372.43	367.32	231.56	431.43	490.3
Trading Asset Securities	0.32	0.48	0.32	0.4	0.57	0.86
Cash & Short-Term Investments	417.2	372.91	367.64	231.96	432	491.15
Cash Growth	2.73%	1.43%	58.49%	-46.31%	-12.04%	1.78%
Accounts Receivable	171.11	218.27	251.01	208.79	301.86	227.77
Other Receivables	99.81	99.83	140.81	148.96	70.18	130.46
Receivables	270.93	318.1	391.82	357.75	372.04	358.23
Inventory	26.72	26.4	24.69	35.77	61.91	68.58
Prepaid Expenses	-	1.4	1.82	2.56	3.84	-
Other Current Assets	66.31	59.57	65.81	56.49	103.85	244.66
Total Current Assets	781.16	778.38	851.78	684.53	973.65	1,163
Property, Plant & Equipment	2,231	2,262	2,374	2,340	2,431	2,510
Long-Term Investments	62.13	61.32	65.87	62.79	59.32	58.53
Goodwill	5.56	5.56	5.56	5.56	9.97	30.59
Other Intangible Assets	892.2	899.27	929.94	956.64	1,046	1,077
Long-Term Deferred Tax Assets	56.27	55.51	57.11	53.59	39.23	52.6
Long-Term Deferred Charges	67.96	71.74	69.51	87.78	114.53	152.8
Other Long-Term Assets	222.17	226.98	245.37	251.99	111.39	132.01
Total Assets	4,318	4,360	4,599	4,443	4,785	5,176
Accounts Payable	140.64	173.65	207.4	223.82	300.03	248.79
Accrued Expenses	90.09	145.05	150.93	157.83	169.15	177.16
Short-Term Debt	1,348	1,339	1,426	1,383	1,687	2,107
Current Portion of Long-Term Debt	34.45	20.83	74.85	8.32	10.7	163.5
Current Portion of Leases	-	15.33	11.93	7.4	4.57	0.35
Current Income Taxes Payable	31.23	16.77	22.68	18.97	36.76	48.95
Current Unearned Revenue	28.27	20.62	23.05	25.27	29.93	53.96
Other Current Liabilities	1,064	1,071	1,154	1,098	1,113	744.07
Total Current Liabilities	2,736	2,802	3,070	2,923	3,351	3,543
Long-Term Debt	98.87	58.26	60.46	85.25	69.5	14.24
Long-Term Leases	153.91	140.55	124.02	108.43	3.56	35.09
Long-Term Unearned Revenue	20.94	20.77	4.96	1.46	2.18	42.48
Long-Term Deferred Tax Liabilities	80.27	80.19	82.59	81.46	48.54	51.26
Other Long-Term Liabilities	105.26	103.48	117.79	87.83	91.22	91.61
Total Liabilities	3,195	3,206	3,460	3,287	3,566	3,778
Common Stock	284.48	284.48	284.48	284.48	284.48	284.48
Additional Paid-In Capital	672.41	672.41	672.41	676.18	654.46	654.46
Retained Earnings	-86.91	-58.89	-74.56	-85.59	-20.73	130.87
Comprehensive Income & Other	41.11	39.69	31.45	34.97	38.49	36.26
Total Common Equity	911.09	937.69	913.78	910.04	956.7	1,106
Minority Interest	211.7	217	225.8	245.53	262.83	292.37
Shareholders' Equity	1,123	1,155	1,140	1,156	1,220	1,398
Total Liabilities & Equity	4,318	4,360	4,599	4,443	4,785	5,176
Total Debt	1,635	1,574	1,697	1,592	1,775	2,320
Net Cash (Debt)	-1,218	-1,201	-1,329	-1,360	-1,343	-1,829
Net Cash Per Share	-4.62	-4.50	-4.82	-4.69	-4.72	-6.37
Filing Date Shares Outstanding	280.2	284.48	284.48	284.48	284.48	284.48
Total Common Shares Outstanding	280.2	284.48	284.48	284.48	284.48	284.48
Working Capital	-1,955	-2,024	-2,218	-2,238	-2,377	-2,381
Book Value Per Share	3.25	3.30	3.21	3.20	3.36	3.89
Tangible Book Value	13.33	32.86	-21.72	-52.16	-99.3	-1.55
Tangible Book Value Per Share	0.05	0.12	-0.08	-0.18	-0.35	-0.01
Buildings	-	1,948	1,958	1,955	2,047	2,026
Machinery	-	2,182	2,234	2,218	2,348	2,341
Construction In Progress	-	32.41	31.64	27.79	94.52	120.77

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