Hengtong Logistics Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	1,310	1,485	1,797	2,029	2,458	379.37
Short-Term Investments	-	20.77	-	-	-	-
Cash & Short-Term Investments	1,310	1,505	1,797	2,029	2,458	379.37
Cash Growth	-2.73%	-16.24%	-11.43%	-17.43%	547.78%	-3.67%
Accounts Receivable	236.5	231.95	208.21	233.67	474.89	281.79
Other Receivables	5.69	5.55	6.68	65.82	30.5	20.68
Receivables	242.19	237.5	214.89	299.49	505.39	302.47
Inventory	56.07	43.22	27.39	6.94	4.97	2.05
Prepaid Expenses	-	0.5	0.93	4.13	-	-
Other Current Assets	513.51	171.91	152.29	170.6	184.69	67.86
Total Current Assets	2,121	1,959	2,193	2,510	3,153	751.75
Property, Plant & Equipment	2,524	2,550	2,556	2,042	934.96	611.32
Long-Term Investments	129.83	135.14	156.13	163	158.45	136.46
Other Intangible Assets	315.45	318.38	387.32	200.2	211.79	157.9
Long-Term Accounts Receivable	-	11.32	14.32	17.49	21.58	23.13
Long-Term Deferred Tax Assets	5.29	5.14	7.55	7.98	8.69	12.99
Long-Term Deferred Charges	13.01	9.43	10.31	11.52	-	0.74
Other Long-Term Assets	261.99	254.18	187.8	120.96	67.77	45.27
Total Assets	5,371	5,242	5,513	5,074	4,556	1,740

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	293.24	91.32	98.71	321.53	156.11	135.47
Accrued Expenses	15.31	20.61	19.85	34.56	36.44	36.84
Short-Term Debt	25	62.16	27.38	3.42	203.43	100.12
Current Portion of Long-Term Debt	184.83	183.96	242.73	27.01	23.46	-
Current Portion of Leases	-	0.94	0.93	0.42	0.81	-
Current Income Taxes Payable	19.21	12.43	12.44	13.25	3.82	9.39
Current Unearned Revenue	54.58	7.35	11	20.12	23.63	40.51
Other Current Liabilities	30.55	166.76	457.1	400.82	20.35	124.19
Total Current Liabilities	622.72	545.52	870.14	821.13	468.05	446.52
Long-Term Debt	543.59	635.19	726.05	402.51	340.18	-
Long-Term Leases	7.68	8.02	8.95	9.99	1.83	-
Long-Term Unearned Revenue	10.06	10.38	51.47	9.48	9.85	10.93
Long-Term Deferred Tax Liabilities	1.73	1.63	1.89	2.43	0.66	-
Total Liabilities	1,186	1,201	1,659	1,246	820.57	457.45

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Common Stock	705.82	714.19	714.19	714.19	510.13	282.24
Additional Paid-In Capital	2,342	2,414	2,414	2,414	2,603	440.59
Retained Earnings	1,076	941.01	741.87	636.2	551.87	479.26
Treasury Stock	-0.46	-80	-80	-13.13	-	-
Comprehensive Income & Other	6.67	3.68	3.05	14.38	7.83	6.31
Total Common Equity	4,130	3,993	3,793	3,765	3,673	1,208
Minority Interest	55.11	48.6	61.25	62.68	62.62	73.72
Shareholders' Equity	4,185	4,041	3,854	3,828	3,735	1,282
Total Liabilities & Equity	5,371	5,242	5,513	5,074	4,556	1,740

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	761.1	890.27	1,006	443.35	569.71	100.12
Net Cash (Debt)	548.49	615.17	791.2	1,586	1,888	279.25
Net Cash Growth	49.92%	-22.25%	-50.11%	-16.00%	576.02%	72.52%
Net Cash Per Share	0.81	0.97	1.12	2.16	3.10	0.50
Filing Date Shares Outstanding	701.12	705.82	705.82	705.84	714.19	553.19
Total Common Shares Outstanding	701.12	705.82	705.82	705.84	714.19	553.19
Working Capital	1,499	1,413	1,323	1,689	2,685	305.22
Book Value Per Share	5.89	5.66	5.37	5.33	5.14	2.18
Tangible Book Value	3,815	3,674	3,406	3,565	3,461	1,051
Tangible Book Value Per Share	5.44	5.21	4.82	5.05	4.85	1.90
Buildings	-	1,691	1,009	375.62	394.92	428.07
Machinery	-	1,401	910.68	537.25	635.35	643.86
Construction In Progress	-	27.6	1,145	1,614	463	31.42