Hengtong Logistics 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	1,088	1,485	1,797	2,029	2,458	379.37
Short-Term Investments	-	20.77	-	-	-	-
Cash & Short-Term Investments	1,188	1,505	1,797	2,029	2,458	379.37
Cash Growth	-19.51%	-16.24%	-11.43%	-17.43%	547.78%	-3.67%
Accounts Receivable	233.32	231.95	208.21	233.67	474.89	281.79
Other Receivables	3.24	5.55	6.68	65.82	30.5	20.68
Receivables	236.57	237.5	214.89	299.49	505.39	302.47
Inventory	426.14	43.22	27.39	6.94	4.97	2.05
Prepaid Expenses	-	0.5	0.93	4.13	-	-
Other Current Assets	200.32	171.91	152.29	170.6	184.69	67.86
Total Current Assets	2,051	1,959	2,193	2,510	3,153	751.75
Property, Plant & Equipment	2,542	2,550	2,556	2,042	934.96	611.32
Long-Term Investments	132.46	135.14	156.13	163	158.45	136.46
Other Intangible Assets	316.59	318.38	387.32	200.2	211.79	157.9
Long-Term Accounts Receivable	10.77	11.32	14.32	17.49	21.58	23.13
Long-Term Deferred Tax Assets	5.14	5.14	7.55	7.98	8.69	12.99
Long-Term Deferred Charges	13.49	9.43	10.31	11.52	-	0.74
Other Long-Term Assets	262.37	254.18	187.8	120.96	67.77	45.27
Total Assets	5,334	5,242	5,513	5,074	4,556	1,740
Accounts Payable	252.24	91.32	98.71	321.53	156.11	135.47
Accrued Expenses	12.89	20.61	19.85	34.56	36.44	36.84
Short-Term Debt	20	62.16	27.38	3.42	203.43	100.12
Current Portion of Long-Term Debt	184.15	183.96	242.73	27.01	23.46	-
Current Portion of Leases	-	0.94	0.93	0.42	0.81	-
Current Income Taxes Payable	16.6	12.43	12.44	13.25	3.82	9.39
Current Unearned Revenue	87.68	7.35	11	20.12	23.63	40.51
Other Current Liabilities	31.18	166.76	457.1	400.82	20.35	124.19
Total Current Liabilities	604.74	545.52	870.14	821.13	468.05	446.52
Long-Term Debt	569.19	635.19	726.05	402.51	340.18	-
Long-Term Leases	7.89	8.02	8.95	9.99	1.83	-
Long-Term Unearned Revenue	10.22	10.38	51.47	9.48	9.85	10.93
Long-Term Deferred Tax Liabilities	1.63	1.63	1.89	2.43	0.66	-
Total Liabilities	1,194	1,201	1,659	1,246	820.57	457.45
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	1,034	941.01	741.87	636.2	551.87	479.26
Treasury Stock	-	-80	-80	-13.13	-	-
Comprehensive Income & Other	5.66	3.68	3.05	14.38	7.83	6.31
Total Common Equity	4,088	3,993	3,793	3,765	3,673	1,208
Minority Interest	52.63	48.6	61.25	62.68	62.62	73.72
Shareholders' Equity	4,140	4,041	3,854	3,828	3,735	1,282
Total Liabilities & Equity	5,334	5,242	5,513	5,074	4,556	1,740
Total Debt	781.23	890.27	1,006	443.35	569.71	100.12
Net Cash (Debt)	406.68	615.17	791.2	1,586	1,888	279.25
Net Cash Growth	-13.64%	-22.25%	-50.11%	-16.00%	576.02%	72.52%
Net Cash Per Share	0.64	0.97	1.12	2.16	3.10	0.50
Filing Date Shares Outstanding	705.82	705.82	705.82	705.84	714.19	553.19
Total Common Shares Outstanding	705.82	705.82	705.82	705.84	714.19	553.19
Working Capital	1,446	1,413	1,323	1,689	2,685	305.22
Book Value Per Share	5.79	5.66	5.37	5.33	5.14	2.18
Tangible Book Value	3,771	3,674	3,406	3,565	3,461	1,051
Tangible Book Value Per Share	5.34	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