China Master Logistics Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	487.83	584.3	460.07	642.51	495.89	512.33
Trading Asset Securities	0.86	0.68	0.6	0.79	66.73	256.55
Cash & Short-Term Investments	488.69	584.97	460.67	643.3	562.62	768.89
Cash Growth	6.07%	26.98%	-28.39%	14.34%	-26.83%	-29.49%
Accounts Receivable	1,560	1,684	1,275	1,045	1,519	726.06
Other Receivables	161.53	231.59	374.52	289.56	67.88	37.37
Receivables	1,722	1,916	1,650	1,335	1,587	763.43
Inventory	15.44	12.98	13.94	14.38	10.97	7.98
Other Current Assets	60.92	63.47	35.99	49.02	48.65	50.6
Total Current Assets	2,287	2,577	2,160	2,041	2,209	1,591
Property, Plant & Equipment	1,111	1,182	945.99	969.87	871.53	497.6
Long-Term Investments	187.97	181.69	195.76	258.73	283.47	183.05
Goodwill	0.18	0.18	0.18	0.18	0.18	0.18
Other Intangible Assets	371.76	383.5	399.3	408.5	422.95	334.21
Long-Term Accounts Receivable	43.51	2.43	3.41	-	-	-
Long-Term Deferred Tax Assets	34.37	46.43	30.06	42.78	6.21	4.81
Long-Term Deferred Charges	18.74	22.74	20.6	23.07	19.26	24.41
Other Long-Term Assets	50.69	55.37	54.45	63.12	87.23	98.39
Total Assets	4,105	4,452	3,810	3,808	3,900	2,734
Accounts Payable	863.52	1,008	674.49	669.72	1,020	537.5
Accrued Expenses	29.04	49.09	41.59	45.72	43.13	25.28
Short-Term Debt	128.88	246.17	201.68	198.72	155.89	-
Current Portion of Long-Term Debt	81.21	50.05	30.03	0.17	0.15	-
Current Portion of Leases	-	68.47	31.56	77.62	11.17	-
Current Income Taxes Payable	45.56	30.91	34.1	24.77	21.74	13.37
Current Unearned Revenue	8.13	13.57	10.73	20.56	12.6	12.99
Other Current Liabilities	162.99	147.87	117.71	138.55	122.93	81.25
Total Current Liabilities	1,319	1,615	1,142	1,176	1,387	670.38
Long-Term Debt	113.16	98.46	122.52	144.38	114.38	-
Long-Term Leases	46.78	92.18	50.93	76.88	171.86	-
Long-Term Unearned Revenue	33.86	34.32	27.71	27.91	6.45	-
Long-Term Deferred Tax Liabilities	40.19	53.89	32.39	48.76	16.03	18.49
Other Long-Term Liabilities	-	-	0.46	-	-	1.8
Total Liabilities	1,553	1,893	1,376	1,474	1,696	690.67
Common Stock	346.67	346.67	346.67	346.67	266.67	266.67
Additional Paid-In Capital	799.86	814.55	814.38	814.09	896.15	896.09
Retained Earnings	1,168	1,170	1,090	1,006	894.78	786.89
Comprehensive Income & Other	24.26	25.67	21.74	29	27.42	28.03
Total Common Equity	2,339	2,357	2,273	2,196	2,085	1,978
Minority Interest	212.79	201.57	160.7	137.74	118.78	65.19
Shareholders' Equity	2,552	2,558	2,434	2,334	2,204	2,043
Total Liabilities & Equity	4,105	4,452	3,810	3,808	3,900	2,734
Total Debt	370.02	555.34	436.73	497.77	453.45	-
Net Cash (Debt)	118.66	29.64	23.94	145.52	109.17	768.89
Net Cash Growth	-	23.80%	-83.55%	33.29%	-85.80%	-29.49%
Net Cash Per Share	0.34	0.09	0.07	0.42	0.32	2.21
Filing Date Shares Outstanding	346.67	346.67	346.67	346.67	346.67	346.67
Total Common Shares Outstanding	346.67	346.67	346.67	346.67	346.67	346.67
Working Capital	967.53	962.65	1,018	865.46	821.69	920.52
Book Value Per Share	6.75	6.80	6.56	6.33	6.01	5.70
Tangible Book Value	1,967	1,973	1,874	1,787	1,662	1,643
Tangible Book Value Per Share	5.67	5.69	5.41	5.16	4.79	4.74
Buildings	-	465.05	357.8	284.66	164.85	160.1
Machinery	-	840.32	669.88	573.58	509.89	462.93
Construction In Progress	-	84.4	166.38	255.39	270.18	90.59

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