Spring Airlines 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	8,830	10,224	11,583	10,208	7,260
Trading Asset Securities	0.02	0.02	0.01	138.35	2.91
Cash & Short-Term Investments	8,830	10,224	11,583	10,347	7,263
Cash Growth	-13.63%	-11.73%	11.95%	42.45%	-20.98%
Accounts Receivable	118.37	125.59	180.38	105.25	98.46
Other Receivables	402.99	326.39	302.9	527.56	585.82
Receivables	521.36	451.98	483.29	632.81	684.28
Inventory	703	657.87	536.86	174.79	213.4
Other Current Assets	653.57	679.12	376.8	691.48	552.93
Total Current Assets	10,708	12,013	12,980	11,846	8,714
Property, Plant & Equipment	33,209	28,876	28,142	27,995	26,307
Long-Term Investments	837.4	952.26	867.52	1,133	1,022
Other Intangible Assets	719.32	733.33	751.08	765.2	781.96
Long-Term Deferred Tax Assets	476.94	599.59	817.78	1,018	586
Long-Term Deferred Charges	513.36	498.45	508.07	411.39	384.77
Other Long-Term Assets	413.07	162.17	172.26	251.29	524.53
Total Assets	46,877	43,835	44,238	43,420	38,320
Accounts Payable	1,512	620.72	227.11	367.25	330.82
Accrued Expenses	2,719	2,050	2,244	1,650	981.4
Short-Term Debt	1,062	628.93	4,190	5,405	4,484
Current Portion of Long-Term Debt	3,678	2,710	3,239	4,038	1,954
Current Portion of Leases	873	816.9	1,053	1,041	934.69
Current Income Taxes Payable	63.81	57.48	35.98	29.15	38.3
Current Unearned Revenue	1,368	1,669	1,312	635.98	550.52
Other Current Liabilities	539.63	495.73	495.1	280.23	401.29
Total Current Liabilities	11,816	9,049	12,796	13,446	9,675
Long-Term Debt	13,140	13,812	11,100	10,896	9,472
Long-Term Leases	1,865	1,330	2,347	3,324	3,306
Long-Term Deferred Tax Liabilities	6.97	16.32	33.29	43.49	39.29
Other Long-Term Liabilities	1,885	2,247	2,212	2,017	2,081
Total Liabilities	28,713	26,454	28,488	29,727	24,573
Common Stock	978.33	978.55	978.55	978.55	916.46
Additional Paid-In Capital	7,785	7,793	7,792	7,791	4,881
Retained Earnings	9,800	8,670	7,081	4,823	7,859
Treasury Stock	-542.96	-110.57	-74.28	-72.23	-
Comprehensive Income & Other	143.53	49.78	-27.29	172.09	90.27
Total Common Equity	18,164	17,381	15,750	13,693	13,747
Shareholders' Equity	18,164	17,381	15,750	13,693	13,747
Total Liabilities & Equity	46,877	43,835	44,238	43,420	38,320
Total Debt	20,618	19,298	21,929	24,704	20,151
Net Cash (Debt)	-11,788	-9,074	-10,347	-14,357	-12,887
Net Cash Per Share	-12.12	-9.29	-10.59	-15.60	-13.18
Filing Date Shares Outstanding	961.27	972.72	977.1	937.4	916.46
Total Common Shares Outstanding	968	976.82	977.1	937.4	916.46
Working Capital	-1,108	2,964	183.77	-1,601	-960.79
Book Value Per Share	18.76	17.79	16.12	14.61	15.00
Tangible Book Value	17,444	16,648	14,999	12,928	12,965
Tangible Book Value Per Share	18.02	17.04	15.35	13.79	14.15
Buildings	1,087	884.98	80.04	-	-
Machinery	37,114	33,066	26,419	23,555	21,662
Construction In Progress	3,442	2,213	6,214	6,895	5,400

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.