Bohai Ferry Group 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	220.64	87.89	200.07	273.76	334.1	155.89
Short-Term Investments	-	-	-	-	-	40
Cash & Short-Term Investments	220.64	87.89	200.07	273.76	334.1	195.89
Cash Growth	0.52%	-56.07%	-26.92%	-18.06%	70.56%	-20.40%
Accounts Receivable	18.92	128.55	166.83	30.66	6.77	102.86
Other Receivables	288.96	203.44	172.65	124.4	146.51	107.12
Receivables	307.87	331.99	339.48	155.06	256.54	209.98
Inventory	157.47	150.61	158.69	101.55	116.25	119.13
Other Current Assets	24.63	20.05	61.3	6.87	22.11	81.51
Total Current Assets	710.61	590.54	759.54	537.24	729	606.52
Property, Plant & Equipment	3,021	3,066	3,197	3,369	3,766	3,898
Long-Term Investments	181.99	184.25	228.02	287.27	346.92	310.73
Goodwill	270.76	270.76	270.76	270.76	270.76	270.76
Other Intangible Assets	1.7	1.72	1.79	1.87	1.94	2.01
Long-Term Accounts Receivable	-	-	-	-	-	1.85
Long-Term Deferred Tax Assets	1.86	3.65	3.98	4.12	4.76	6.77
Long-Term Deferred Charges	0.08	0.2	0.67	1.43	2.39	3.34
Other Long-Term Assets	-	-	2.63	2.13	0.56	0.56
Total Assets	4,188	4,117	4,464	4,474	5,122	5,101
Accounts Payable	39.08	32.18	64.34	42.53	137.77	61.93
Accrued Expenses	43.37	60.16	54.38	49.84	33.34	33.53
Short-Term Debt	50	50	190	30	538.5	238.74
Current Portion of Long-Term Debt	0.6	0.79	-	141.47	127.01	414.46
Current Portion of Leases	-	-	0.46	0.44	0.42	0.4
Current Income Taxes Payable	44.58	19	21.01	25.36	9.08	26.91
Current Unearned Revenue	3.29	1.64	2.05	0.85	1.34	0.15
Other Current Liabilities	21.13	29.91	129.12	23.66	38.86	53.93
Total Current Liabilities	202.04	193.68	461.37	314.15	886.33	830.05
Long-Term Debt	-	-	-	-	133.61	316.17
Long-Term Leases	1.61	1.91	-	0.46	0.9	1.33
Long-Term Unearned Revenue	174.13	176.46	185.77	177.85	186.2	139.56
Long-Term Deferred Tax Liabilities	9.96	10.38	15.94	26.59	33.69	25.9
Other Long-Term Liabilities	-	-	-	-	3	18.41
Total Liabilities	387.74	382.43	663.08	519.04	1,244	1,331
Common Stock	469.14	469.14	469.14	469.14	469.14	472.58
Additional Paid-In Capital	949.94	949.94	949.94	949.94	960.1	991.3
Retained Earnings	2,116	2,068	2,181	2,385	2,205	2,109
Treasury Stock	-	-	-	-	-	-17.56
Comprehensive Income & Other	6.26	2.12	6.5	2.23	2.15	2.41
Total Common Equity	3,541	3,490	3,606	3,806	3,636	3,558
Minority Interest	259.04	245.12	195.14	148.99	242.38	211.28
Shareholders' Equity	3,800	3,735	3,801	3,955	3,879	3,769
Total Liabilities & Equity	4,188	4,117	4,464	4,474	5,122	5,101
Total Debt	52.21	52.7	190.46	172.37	800.44	971.1
Net Cash (Debt)	168.42	35.19	9.61	101.39	-466.35	-775.21
Net Cash Growth	113.10%	266.13%	-90.52%	-	-	-
Net Cash Per Share	0.36	0.07	0.02	0.21	-1.01	-1.65
Filing Date Shares Outstanding	475.76	474.54	469.14	469.14	469.14	472.58
Total Common Shares Outstanding	475.76	474.54	469.14	469.14	469.14	472.58
Working Capital	508.57	396.86	298.17	223.09	-157.33	-223.54
Book Value Per Share	7.44	7.35	7.69	8.11	7.75	7.53
Tangible Book Value	3,269	3,217	3,334	3,533	3,363	3,285
Tangible Book Value Per Share	6.87	6.78	7.11	7.53	7.17	6.95
Buildings	-	-	21.65	21.65	20.7	22.2
Machinery	-	-	5,314	5,314	5,250	5,361
Construction In Progress	-	-	-	-	347.28	349.54

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