Haitian Water 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	1,322	760.32	603.63	641.16	596.77	487.41
Trading Asset Securities	-	-	-	-	100	100
Accounts Receivable	1,925	1,610	1,018	747.44	547.56	413.47
Other Receivables	15.03	46.49	23.3	25.71	16.07	23.03
Inventory	267.78	196.28	28.99	53.05	36.08	50.17
Other Current Assets	351.28	225.89	133.6	86.69	82.39	98
Total Current Assets	3,881	2,839	1,807	1,554	1,379	1,172
Property, Plant & Equipment	1,372	1,394	807.52	818.6	836.96	833.77
Other Intangible Assets	3,424	3,463	3,251	3,345	3,051	2,922
Long-Term Investments	376.19	376.12	528.26	406.88	447.94	353.51
Long-Term Deferred Tax Assets	104.3	100.1	77.11	55.44	50.46	48.04
Long-Term Deferred Charges	49.51	52.39	5.64	8.04	7.1	3.58
Long-Term Accounts Receivable	-	146.33	19.83	6.44	7.05	-
Other Long-Term Assets	250.03	96.07	115.35	49.27	41.19	17.33
Total Assets	9,457	8,467	6,612	6,244	5,821	5,350
Accounts Payable	413.05	431.5	460.16	591.53	567.75	581.53
Accrued Expenses	23.07	84.09	57.89	50.13	47.39	42.16
Short-Term Debt	1,406	1,008	526.18	519.4	331.57	75.52
Current Portion of Long-Term Debt	418.63	-	322.8	204.06	374.02	320.96
Current Unearned Revenue	103.91	102.71	127.48	122.11	137.59	141.7
Current Portion of Leases	-	-	1.85	1.72	1.72	1.54
Current Income Taxes Payable	36.52	-	34.5	24.89	15.54	21.24
Other Current Liabilities	126.99	520.35	162.71	118.95	153.4	54.11
Total Current Liabilities	2,528	2,146	1,694	1,633	1,629	1,239
Long-Term Debt	3,296	2,558	1,698	1,585	1,539	1,606
Long-Term Leases	22.6	23.32	12.81	14.53	15.29	0.57
Long-Term Unearned Revenue	36.2	36.67	42.87	46.65	43.24	38.18
Long-Term Deferred Tax Liabilities	67.22	63.43	13.35	12.51	13.45	11.63
Other Long-Term Liabilities	318.45	464.81	171.27	192.47	164.54	115.83
Total Liabilities	6,268	5,292	3,632	3,484	3,404	3,010
Common Stock	461.76	461.76	461.76	461.76	461.76	312
Additional Paid-In Capital	880.43	-	880.43	880.43	911.39	1,061
Retained Earnings	1,582	1,578	1,401	1,221	979.02	830.06
Comprehensive Income & Other	8.6	879.69	-	-	-	-
Total Common Equity	2,933	2,919	2,743	2,563	2,352	2,203
Minority Interest	256.25	255.79	237.3	197.46	64.61	136.28
Shareholders' Equity	3,189	3,175	2,981	2,761	2,417	2,340
Total Liabilities & Equity	9,457	8,467	6,612	6,244	5,821	5,350
Total Debt	5,143	3,589	2,562	2,324	2,261	2,004
Net Cash (Debt)	-3,821	-2,828	-1,958	-1,683	-1,564	-1,417
Net Cash Per Share	-8.52	-6.08	-4.24	-3.62	-3.38	-3.27
Filing Date Shares Outstanding	386.84	505.12	461.76	461.76	461.76	461.76
Total Common Shares Outstanding	386.84	505.12	461.76	461.76	461.76	461.76
Working Capital	1,353	692.93	113.86	-78.75	-250.1	-66.67
Book Value Per Share	7.58	5.78	5.94	5.55	5.09	4.77
Tangible Book Value	-491.8	-543.52	-507.95	-782.28	-699.01	-718.46
Tangible Book Value Per Share	-1.27	-1.08	-1.10	-1.69	-1.51	-1.56
Buildings	-	-	451.71	436.73	426.7	380.02
Machinery	-	-	359.61	335.11	304.39	264.15
Construction In Progress	-	-	13.52	21.63	27.95	77.35

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