CSD Water Service 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	269.15	355.29	670.62	672.12	590.69	290.31
Cash & Short-Term Investments	269.15	355.29	670.62	672.12	590.69	290.31
Cash Growth	-41.21%	-47.02%	-0.22%	13.79%	103.47%	24.16%
Accounts Receivable	1,382	1,437	1,650	1,830	1,475	1,018
Other Receivables	9.62	13.42	61	67.79	136.6	145.29
Receivables	1,392	1,450	1,711	1,898	1,612	1,164
Inventory	93.75	75.11	56.17	23.06	43.65	21.07
Prepaid Expenses	-	-	1.35	0.03	-	0.33
Other Current Assets	91.08	72.99	29.46	129.14	51.06	40.42
Total Current Assets	1,846	1,954	2,469	2,722	2,297	1,516
Property, Plant & Equipment	250.57	255.09	335.85	313.59	306.99	272.87
Long-Term Investments	322.12	320.01	301.95	270.43	305.04	253.45
Goodwill	181.21	181.21	209.21	253.53	253.53	253.53
Other Intangible Assets	762.38	773.16	860.5	913.17	957.27	924.88
Long-Term Accounts Receivable	-	-	36.45	-	24.16	51.05
Long-Term Deferred Tax Assets	109	111.36	88.11	53.62	43.24	35.8
Long-Term Deferred Charges	6.45	6.72	7.29	4.31	7.34	7.09
Other Long-Term Assets	334.01	335.4	324.03	369.04	347.84	384.32
Total Assets	3,812	3,937	4,632	4,900	4,543	3,699
Accounts Payable	673.99	810.48	820.97	860.13	712.04	621.44
Accrued Expenses	2.91	14.43	104.27	73.78	38.95	43.93
Short-Term Debt	454.55	494.14	789.48	729.73	513.63	628.32
Current Portion of Long-Term Debt	164.83	149.68	77.24	103.93	70.42	43.5
Current Portion of Leases	-	-	61.58	51.37	49.26	15.22
Current Income Taxes Payable	9.95	15.27	10.66	25.46	15.18	18.37
Current Unearned Revenue	106.95	74.95	113.72	27.68	93.13	35.19
Other Current Liabilities	87.82	98.99	112.34	116.57	117.77	127.79
Total Current Liabilities	1,501	1,658	2,090	1,989	1,610	1,534
Long-Term Debt	489.29	501.9	562.48	601.29	706.89	708.01
Long-Term Leases	13.48	13.54	287.84	328.93	358.7	53.53
Long-Term Unearned Revenue	19.26	19.73	23.93	21.41	28.98	38.47
Long-Term Deferred Tax Liabilities	28.23	28.17	33.25	33.49	31.41	28.66
Other Long-Term Liabilities	275.93	248.76	16.35	17.98	16.14	21.28
Total Liabilities	2,327	2,470	3,014	2,992	2,752	2,384
Common Stock	255.32	255.32	255.32	255.32	255.32	202.3
Additional Paid-In Capital	564.38	564.38	564.38	657.27	657.25	291.87
Retained Earnings	609.41	592.16	698.07	853.3	738.42	667.39
Comprehensive Income & Other	-	-	-1.7	10.36	10.36	10.08
Total Common Equity	1,429	1,412	1,516	1,776	1,661	1,172
Minority Interest	55.36	54.75	101.78	132.13	129.01	143.45
Shareholders' Equity	1,484	1,467	1,618	1,908	1,790	1,315
Total Liabilities & Equity	3,812	3,937	4,632	4,900	4,543	3,699
Total Debt	1,122	1,159	1,779	1,815	1,699	1,449
Net Cash (Debt)	-852.99	-803.97	-1,108	-1,143	-1,108	-1,158
Net Cash Per Share	-3.52	-3.11	-4.36	-4.48	-4.51	-5.71
Filing Date Shares Outstanding	246.37	280.93	255.32	255.32	255.32	255.32
Total Common Shares Outstanding	246.37	280.93	255.32	255.32	255.32	202.3
Working Capital	344.92	295.77	378.32	733.78	687.07	-17.94
Book Value Per Share	5.80	5.03	5.94	6.96	6.51	5.79
Tangible Book Value	485.52	457.49	446.36	609.55	450.55	-6.75
Tangible Book Value Per Share	1.97	1.63	1.75	2.39	1.76	-0.03
Buildings	-	-	238.69	204.48	201.1	25.84
Machinery	-	-	161.48	124.79	117.31	51.29
Construction In Progress	-	-	0.62	0.75	4.22	192.1
Order Backlog	-	-	894.67	-	-	-

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