SHA:603291 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	77.92	130.79	126.13	182.5	162.36	127.45
Short-Term Investments	-	-	5.14	5.04	-	-
Trading Asset Securities	48.5	-	0.9	12.82	1.7	3
Accounts Receivable	382.65	406.18	431.98	399.1	396.6	312.97
Other Receivables	57.26	70.8	8.22	12.01	27.94	22.68
Inventory	32.14	32.99	29.33	38.01	27.47	23.4
Prepaid Expenses	-	-	0.22	0.39	0.67	1.01
Other Current Assets	57.3	59.82	93.54	71.4	69.68	29.89
Total Current Assets	655.77	700.58	695.47	721.27	686.42	520.4
Property, Plant & Equipment	753.39	746.06	763.88	759.1	642.52	645.08
Other Intangible Assets	2,114	2,140	2,110	2,064	2,064	1,993
Long-Term Investments	74.82	67.97	37.82	-	-	-
Long-Term Deferred Tax Assets	56.8	57.58	46.28	38.91	32.58	25.21
Long-Term Deferred Charges	10.96	11.7	13.56	8.56	5.72	5.19
Long-Term Accounts Receivable	-	-	46.28	42.56	50.11	12.23
Other Long-Term Assets	87.16	76.2	2.12	0.26	8.85	5.31
Total Assets	3,753	3,800	3,715	3,635	3,491	3,207
Accounts Payable	191.65	226.19	267.85	310.1	336.12	300.22
Accrued Expenses	4.81	15.74	46.31	43.22	51.07	56.85
Short-Term Debt	310.43	304.64	171.48	115.96	158.11	54.06
Current Portion of Long-Term Debt	168.43	162.83	142.32	144.7	168.95	115.63
Current Unearned Revenue	62.09	62.05	64.72	80.24	75.29	69.63
Current Portion of Leases	-	-	7.77	4.15	6.38	5.86
Current Income Taxes Payable	34.18	41.77	16.06	30.74	27.42	27.9
Other Current Liabilities	40.25	44.69	44.03	40.57	90.43	107.23
Total Current Liabilities	811.83	857.92	760.54	769.68	913.77	737.38
Long-Term Debt	517.6	524.05	545.02	525.9	570.24	559.45
Long-Term Leases	7.72	9.65	17.85	16.71	21.58	78.41
Long-Term Unearned Revenue	162.47	165.79	180.09	187.29	321.11	193.91
Long-Term Deferred Tax Liabilities	43.15	44.98	43.88	43.21	52.05	49.74
Other Long-Term Liabilities	333.11	335.34	341.25	337.24	193.02	310.66
Total Liabilities	1,876	1,938	1,889	1,880	2,072	1,930
Common Stock	423.22	423.22	423.22	423.22	380.9	380.9
Additional Paid-In Capital	490.22	490.22	490.22	490.22	331.59	329.44
Retained Earnings	913.73	898.84	860.98	789.35	659.66	529.93
Comprehensive Income & Other	-1.05	-0.38	1.93	3.29	2.15	4.17
Total Common Equity	1,826	1,812	1,776	1,706	1,374	1,244
Minority Interest	50.62	50.25	50.26	49.02	44.43	32.69
Shareholders' Equity	1,877	1,862	1,827	1,755	1,419	1,277
Total Liabilities & Equity	3,753	3,800	3,715	3,635	3,491	3,207
Total Debt	1,004	1,001	884.44	807.43	925.26	813.41
Net Cash (Debt)	-877.76	-870.38	-752.27	-607.07	-761.2	-682.96
Net Cash Per Share	-2.07	-2.06	-1.78	-1.47	-2.00	-1.79
Filing Date Shares Outstanding	422.76	422.97	423.22	423.22	380.9	380.9
Total Common Shares Outstanding	422.76	422.97	423.22	423.22	380.9	380.9
Working Capital	-156.06	-157.34	-65.07	-48.41	-227.35	-216.98
Book Value Per Share	4.32	4.28	4.20	4.03	3.61	3.27
Tangible Book Value	-287.61	-327.88	-333.48	-358.4	-690.01	-748.83
Tangible Book Value Per Share	-0.68	-0.78	-0.79	-0.85	-1.81	-1.97
Buildings	-	-	434.06	379.49	266.74	317.59
Machinery	-	-	323.56	291.92	193.51	240.83
Construction In Progress	-	-	5.9	44.16	108.04	84.32

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