Changbai Mountain Tourism 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	376.58	286.51	211	67.44	117.66	162.68
Trading Asset Securities	-	-	-	-	-	20.09
Cash & Short-Term Investments	376.58	286.51	211	67.44	117.66	182.77
Cash Growth	27.85%	35.79%	212.89%	-42.69%	-35.63%	-21.06%
Accounts Receivable	83.35	67.66	47.03	54.85	64.74	63.77
Other Receivables	15.19	12.08	15.07	8.6	5.05	4.19
Receivables	98.54	79.74	62.1	63.44	69.79	67.96
Inventory	20.09	16.45	13.15	10.71	10.91	11.06
Prepaid Expenses	-	8.74	9.02	5.4	3.09	3.06
Other Current Assets	81.49	53.48	34.12	12.24	5.59	4.12
Total Current Assets	576.7	444.92	329.4	159.23	207.05	268.97
Property, Plant & Equipment	869.73	805.34	693.23	670.23	670.43	721.95
Long-Term Investments	-	-	3.91	4.2	4.2	-
Other Intangible Assets	213.53	168.51	173.69	179.08	179.46	186.23
Long-Term Deferred Tax Assets	8.09	5.02	16.81	46.22	29.1	16.49
Long-Term Deferred Charges	12.42	11.56	9.06	4.42	4.33	5.31
Other Long-Term Assets	5.94	11.32	5.83	6.91	12.46	9.22
Total Assets	1,686	1,447	1,232	1,070	1,107	1,208
Accounts Payable	101.22	41.75	34.97	15.77	6.47	18.93
Accrued Expenses	21.23	53.59	52.24	42.01	34.22	34.2
Short-Term Debt	80	80	-	-	-	-
Current Portion of Long-Term Debt	18.66	16.67	16.62	15.92	12.91	42.49
Current Portion of Leases	-	2.19	0.71	0.18	-	-
Current Income Taxes Payable	56.31	6.27	3.09	0	-	0.01
Current Unearned Revenue	25.99	4.76	2.35	0.62	0.69	1.37
Other Current Liabilities	16.84	25.92	20.71	11.76	7.82	10.33
Total Current Liabilities	320.25	231.13	130.7	86.26	62.12	107.32
Long-Term Debt	32.76	41.7	58.37	75	75	80.44
Long-Term Leases	12.43	1.72	1.13	0.2	1.27	-
Long-Term Unearned Revenue	13.77	8.94	2.29	2.63	3.01	3.38
Long-Term Deferred Tax Liabilities	4.77	1.15	0.31	-	-	-
Total Liabilities	383.98	284.64	192.79	164.09	141.4	191.14
Common Stock	266.67	266.67	266.67	266.67	266.67	266.67
Additional Paid-In Capital	285.56	285.56	285.56	285.56	285.56	285.56
Retained Earnings	731.76	604.12	480.66	342.6	399.99	451.61
Comprehensive Income & Other	6.52	5.68	6.25	11.37	13.41	13.2
Shareholders' Equity	1,302	1,162	1,039	906.2	965.63	1,017
Total Liabilities & Equity	1,686	1,447	1,232	1,070	1,107	1,208
Total Debt	143.84	142.28	76.83	91.3	89.18	122.93
Net Cash (Debt)	232.74	144.23	134.18	-23.86	28.48	59.84
Net Cash Growth	3.94%	7.50%	-	-	-52.41%	-49.39%
Net Cash Per Share	0.86	0.54	0.51	-0.09	0.10	0.23
Filing Date Shares Outstanding	266.67	266.67	266.67	266.67	266.67	266.67
Total Common Shares Outstanding	266.67	266.67	266.67	266.67	266.67	266.67
Working Capital	256.46	213.79	198.7	72.97	144.93	161.64
Book Value Per Share	4.84	4.36	3.90	3.40	3.62	3.81
Tangible Book Value	1,077	993.52	865.45	727.12	786.18	830.8
Tangible Book Value Per Share	4.04	3.73	3.25	2.73	2.95	3.12
Buildings	-	628.68	628.68	628.68	621.63	630.24
Machinery	-	489	422.88	382.6	386.32	399.1
Construction In Progress	-	123.52	56.74	59.69	54.82	52.92

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