Hengtong Logistics 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	874.13	1,797	2,029	2,458	379.37	393.83
Cash & Short-Term Investments	874.13	1,797	2,029	2,458	379.37	393.83
Cash Growth	-54.38%	-11.43%	-17.43%	547.78%	-3.67%	54.84%
Accounts Receivable	218.2	208.21	233.67	474.89	281.79	300.75
Other Receivables	28.34	6.68	65.82	30.5	20.68	11.45
Receivables	246.54	214.89	299.49	505.39	302.47	312.2
Inventory	749.11	27.39	6.94	4.97	2.05	7.97
Prepaid Expenses	-	0.93	4.13	-	-	-
Other Current Assets	201.69	152.29	170.6	184.69	67.86	170.3
Total Current Assets	2,071	2,193	2,510	3,153	751.75	884.3
Property, Plant & Equipment	2,523	2,556	2,042	934.96	611.32	670.98
Long-Term Investments	142.15	156.13	163	158.45	136.46	169.12
Other Intangible Assets	370.04	387.32	200.2	211.79	157.9	127.88
Long-Term Accounts Receivable	12.78	14.32	17.49	21.58	23.13	-
Long-Term Deferred Tax Assets	4.41	7.55	7.98	8.69	12.99	11.91
Long-Term Deferred Charges	11.37	10.31	11.52	-	0.74	12.35
Other Long-Term Assets	261.74	187.8	120.96	67.77	45.27	33.13
Total Assets	5,397	5,513	5,074	4,556	1,740	1,910
Accounts Payable	205.2	98.71	321.53	156.11	135.47	202.13
Accrued Expenses	14.28	19.85	34.56	36.44	36.84	39.98
Short-Term Debt	60	27.38	3.42	203.43	100.12	231.96
Current Portion of Long-Term Debt	184.13	242.73	27.01	23.46	-	-
Current Portion of Leases	-	0.93	0.42	0.81	-	-
Current Income Taxes Payable	20.28	12.44	13.25	3.82	9.39	19.79
Current Unearned Revenue	167.87	11	20.12	23.63	40.51	86.33
Other Current Liabilities	27.79	457.1	400.82	20.35	124.19	52.01
Total Current Liabilities	679.55	870.14	821.13	468.05	446.52	632.19
Long-Term Debt	660.79	726.05	402.51	340.18	-	-
Long-Term Leases	7.93	8.95	9.99	1.83	-	-
Long-Term Unearned Revenue	50.55	51.47	9.48	9.85	10.93	13.04
Long-Term Deferred Tax Liabilities	1.77	1.89	2.43	0.66	-	-
Total Liabilities	1,401	1,659	1,246	820.57	457.45	645.23
Common Stock	714.19	714.19	714.19	510.13	282.24	282.24
Additional Paid-In Capital	2,414	2,414	2,414	2,603	440.59	471.23
Retained Earnings	882.5	741.87	636.2	551.87	479.26	422.34
Treasury Stock	-80	-80	-13.13	-	-	-
Comprehensive Income & Other	4.45	3.05	14.38	7.83	6.31	5.98
Total Common Equity	3,935	3,793	3,765	3,673	1,208	1,182
Minority Interest	61.66	61.25	62.68	62.62	73.72	82.65
Shareholders' Equity	3,997	3,854	3,828	3,735	1,282	1,264
Total Liabilities & Equity	5,397	5,513	5,074	4,556	1,740	1,910
Total Debt	912.85	1,006	443.35	569.71	100.12	231.96
Net Cash (Debt)	-38.72	791.2	1,586	1,888	279.25	161.87
Net Cash Growth	-	-50.11%	-16.00%	576.02%	72.52%	-
Net Cash Per Share	-0.05	1.12	2.16	3.10	0.50	0.29
Filing Date Shares Outstanding	705.82	705.82	705.84	714.19	553.19	553.19
Total Common Shares Outstanding	705.82	705.82	705.84	714.19	553.19	553.19
Working Capital	1,392	1,323	1,689	2,685	305.22	252.11
Book Value Per Share	5.57	5.37	5.33	5.14	2.18	2.14
Tangible Book Value	3,565	3,406	3,565	3,461	1,051	1,054
Tangible Book Value Per Share	5.05	4.82	5.05	4.85	1.90	1.91
Buildings	-	1,009	375.62	394.92	428.07	308.06
Machinery	-	910.68	537.25	635.35	643.86	696.81
Construction In Progress	-	1,145	1,614	463	31.42	124.52

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