Spring Airlines 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	8,973	10,224	11,583	10,208	7,260	9,192
Trading Asset Securities	0.02	0.02	0.01	138.35	2.91	-
Cash & Short-Term Investments	8,973	10,224	11,583	10,347	7,263	9,192
Cash Growth	-6.64%	-11.73%	11.95%	42.45%	-20.98%	19.07%
Accounts Receivable	133.73	125.59	180.38	105.25	98.46	62.73
Other Receivables	436.12	326.39	302.9	527.56	585.82	440.8
Receivables	569.84	451.98	483.29	632.81	684.28	503.54
Inventory	433.17	657.87	536.86	174.79	213.4	217.83
Other Current Assets	1,077	679.12	376.8	691.48	552.93	412.13
Total Current Assets	11,053	12,013	12,980	11,846	8,714	10,325
Property, Plant & Equipment	32,364	28,876	28,142	27,995	26,307	19,169
Long-Term Investments	882.13	952.26	867.52	1,133	1,022	899.37
Other Intangible Assets	723.64	733.33	751.08	765.2	781.96	774.65
Long-Term Deferred Tax Assets	607.68	599.59	817.78	1,018	586	269.74
Long-Term Deferred Charges	504.36	498.45	508.07	411.39	384.77	329.9
Other Long-Term Assets	392.32	162.17	172.26	251.29	524.53	662.42
Total Assets	46,527	43,835	44,238	43,420	38,320	32,430
Accounts Payable	2,222	620.72	227.11	367.25	330.82	170.31
Accrued Expenses	483.94	2,050	2,244	1,650	981.4	1,451
Short-Term Debt	460.25	628.93	4,190	5,405	4,484	5,634
Current Portion of Long-Term Debt	0.11	2,710	3,239	4,038	1,954	4.14
Current Portion of Leases	-	816.9	1,053	1,041	934.69	-
Current Income Taxes Payable	861.91	57.48	35.98	29.15	38.3	21.04
Current Unearned Revenue	1,502	1,669	1,312	635.98	550.52	627.16
Other Current Liabilities	4,773	495.73	495.1	280.23	401.29	2,982
Total Current Liabilities	10,304	9,049	12,796	13,446	9,675	10,890
Long-Term Debt	13,995	13,812	11,100	10,896	9,472	5,983
Long-Term Leases	1,635	1,330	2,347	3,324	3,306	-
Long-Term Unearned Revenue	-	-	-	-	-	109.21
Long-Term Deferred Tax Liabilities	9.65	16.32	33.29	43.49	39.29	-
Other Long-Term Liabilities	2,406	2,247	2,212	2,017	2,081	1,267
Total Liabilities	28,348	26,454	28,488	29,727	24,573	18,249
Common Stock	978.33	978.55	978.55	978.55	916.46	916.46
Additional Paid-In Capital	7,784	7,793	7,792	7,791	4,881	4,884
Retained Earnings	9,789	8,670	7,081	4,823	7,859	8,381
Treasury Stock	-370.02	-110.57	-74.28	-72.23	-	-
Comprehensive Income & Other	-3.35	49.78	-27.29	172.09	90.27	-1.15
Total Common Equity	18,179	17,381	15,750	13,693	13,747	14,181
Minority Interest	-	-	-	-	-	0.02
Shareholders' Equity	18,179	17,381	15,750	13,693	13,747	14,181
Total Liabilities & Equity	46,527	43,835	44,238	43,420	38,320	32,430
Total Debt	16,090	19,298	21,929	24,704	20,151	11,621
Net Cash (Debt)	-7,117	-9,074	-10,347	-14,357	-12,887	-2,430
Net Cash Per Share	-7.30	-9.29	-10.59	-15.60	-13.18	-2.64
Filing Date Shares Outstanding	971.21	972.72	977.1	937.4	916.46	916.46
Total Common Shares Outstanding	971.21	976.82	977.1	937.4	916.46	916.46
Working Capital	749.45	2,964	183.77	-1,601	-960.79	-564.56
Book Value Per Share	18.72	17.79	16.12	14.61	15.00	15.47
Tangible Book Value	17,455	16,648	14,999	12,928	12,965	13,406
Tangible Book Value Per Share	17.97	17.04	15.35	13.79	14.15	14.63
Buildings	-	884.98	80.04	-	-	-
Machinery	-	33,066	26,419	23,555	21,662	-
Construction In Progress	-	2,213	6,214	6,895	5,400	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.