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 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	439.79	438.65	286.51	211	67.44	117.66
Cash & Short-Term Investments	439.79	438.65	286.51	211	67.44	117.66
Cash Growth	60.93%	53.10%	35.79%	212.89%	-42.69%	-35.63%
Accounts Receivable	89.93	94.77	67.66	47.03	54.85	64.74
Other Receivables	11.67	10.86	12.08	15.07	8.6	5.05
Receivables	101.6	105.63	79.74	62.1	63.44	69.79
Inventory	20.33	19.09	16.45	13.15	10.71	10.91
Prepaid Expenses	-	14.46	8.74	9.02	5.4	3.09
Other Current Assets	61.95	54.53	53.48	34.12	12.24	5.59
Total Current Assets	623.69	632.35	444.92	329.4	159.23	207.05
Property, Plant & Equipment	875.85	884.89	805.34	693.23	670.23	670.43
Long-Term Investments	-	-	-	3.91	4.2	4.2
Other Intangible Assets	161.69	162.76	168.51	173.69	179.08	179.46
Long-Term Deferred Tax Assets	17.8	18.26	5.02	16.81	46.22	29.1
Long-Term Deferred Charges	132.17	137.65	11.56	9.06	4.42	4.33
Other Long-Term Assets	5.69	7.33	11.32	5.83	6.91	12.46
Total Assets	1,817	1,843	1,447	1,232	1,070	1,107
Accounts Payable	97.14	72.4	41.75	34.97	15.77	6.47
Accrued Expenses	25.18	48.92	53.59	52.24	42.01	34.22
Short-Term Debt	-	-	80	-	-	-
Current Portion of Long-Term Debt	22.4	17.97	16.67	16.62	15.92	12.91
Current Portion of Leases	-	4.75	2.19	0.71	0.18	-
Current Income Taxes Payable	9.62	2.74	6.27	3.09	0	-
Current Unearned Revenue	11.34	15.75	4.76	2.35	0.62	0.69
Other Current Liabilities	17.39	67.02	25.92	20.71	11.76	7.82
Total Current Liabilities	183.08	229.54	231.13	130.7	86.26	62.12
Long-Term Debt	23.72	23.72	41.7	58.37	75	75
Long-Term Leases	53.93	51.18	1.72	1.13	0.2	1.27
Long-Term Unearned Revenue	12.77	12.79	8.94	2.29	2.63	3.01
Long-Term Deferred Tax Liabilities	15.84	15.38	1.15	0.31	-	-
Total Liabilities	289.34	332.61	284.64	192.79	164.09	141.4
Common Stock	272.36	272.36	266.67	266.67	266.67	266.67
Additional Paid-In Capital	509.1	509.1	285.56	285.56	285.56	285.56
Retained Earnings	719.83	711.73	604.12	480.66	342.6	399.99
Comprehensive Income & Other	4.82	3.34	5.68	6.25	11.37	13.41
Total Common Equity	1,506	1,497	1,162	1,039	906.2	965.63
Minority Interest	21.46	14.11	-	-	-	-
Shareholders' Equity	1,528	1,511	1,162	1,039	906.2	965.63
Total Liabilities & Equity	1,817	1,843	1,447	1,232	1,070	1,107
Total Debt	100.06	97.62	142.28	76.83	91.3	89.18
Net Cash (Debt)	339.74	341.03	144.23	134.18	-23.86	28.48
Net Cash Growth	158.80%	136.44%	7.50%	-	-	-52.41%
Net Cash Per Share	1.20	1.27	0.54	0.51	-0.09	0.10
Filing Date Shares Outstanding	269.88	272.36	266.67	266.67	266.67	266.67
Total Common Shares Outstanding	269.88	272.36	266.67	266.67	266.67	266.67
Working Capital	440.61	402.81	213.79	198.7	72.97	144.93
Book Value Per Share	5.58	5.49	4.36	3.90	3.40	3.62
Tangible Book Value	1,344	1,334	993.52	865.45	727.12	786.18
Tangible Book Value Per Share	4.98	4.90	3.73	3.25	2.73	2.95
Buildings	-	628.64	628.68	628.68	628.68	621.63
Machinery	-	375.48	350.01	422.88	382.6	386.32
Construction In Progress	-	151.57	123.52	56.74	59.69	54.82

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