Qingdao Victall Railway 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	600.66	436	545.52	311.43	424.24	1,046
Trading Asset Securities	1.18	-	251.95	640.46	757.73	428.73
Cash & Short-Term Investments	601.84	436	797.47	951.89	1,182	1,475
Cash Growth	43.07%	-45.33%	-16.22%	-19.46%	-19.86%	329.48%
Accounts Receivable	1,382	1,293	1,254	1,081	977.32	1,232
Other Receivables	18.91	14.4	18.07	9.87	9.32	8.92
Receivables	1,401	1,307	1,272	1,091	986.63	1,241
Inventory	1,270	1,118	920.82	775.43	751.35	677.45
Prepaid Expenses	-	0.99	0.27	0.17	0.68	0.2
Other Current Assets	59.73	44.81	58.03	26.48	29.23	23.76
Total Current Assets	3,333	2,906	3,048	2,844	2,950	3,417
Property, Plant & Equipment	906.05	933.93	916.5	695.93	697.27	612.63
Long-Term Investments	110.15	97.98	95.09	95.25	104.79	73.6
Goodwill	439.4	447.54	447.54	466.65	466.65	466.65
Other Intangible Assets	161.42	167.68	175.17	139.74	147.76	155.19
Long-Term Deferred Tax Assets	132.09	137.02	136.98	123.93	78.4	29.57
Long-Term Deferred Charges	33.52	24.79	27.53	2.99	2.32	1.78
Other Long-Term Assets	44.39	39.33	10.46	82.21	96.86	125.13
Total Assets	5,160	4,755	4,858	4,451	4,544	4,882
Accounts Payable	845.17	591.86	467.39	448.36	454.06	579.87
Accrued Expenses	31.27	86.28	71.81	57.62	45.57	61.11
Short-Term Debt	953.79	801.13	970.51	912.05	702.73	771.2
Current Portion of Long-Term Debt	245.65	85.05	85.32	40.11	216.68	-
Current Portion of Leases	-	21.5	19.5	7.4	4.34	-
Current Income Taxes Payable	19.77	17.24	15.4	19.58	14.06	15.64
Current Unearned Revenue	30.61	39.06	21.84	10.87	15.33	28.37
Other Current Liabilities	15.61	5.09	38.6	127.95	136.08	38.07
Total Current Liabilities	2,142	1,647	1,690	1,624	1,589	1,494
Long-Term Debt	227.87	296.42	270.25	233.75	150	216.24
Long-Term Leases	51.52	55.52	74.73	21.63	18.13	-
Long-Term Unearned Revenue	30.98	32.78	40.64	39.32	31.66	28.9
Long-Term Deferred Tax Liabilities	4.16	4.16	11.55	10.34	6.42	8.87
Other Long-Term Liabilities	11.68	12.1	9.99	10.29	129.41	253.98
Total Liabilities	2,468	2,048	2,098	1,939	1,924	2,002
Common Stock	392.89	392.89	392.89	392.89	392.89	302.22
Additional Paid-In Capital	1,592	1,592	1,613	1,626	1,626	1,716
Retained Earnings	692.98	708.61	731.75	475.31	588.86	855.73
Comprehensive Income & Other	7.45	6.44	5.1	4.2	-0.04	0.2
Total Common Equity	2,685	2,700	2,743	2,498	2,607	2,874
Minority Interest	6.43	6.51	17.25	13.97	12.23	4.95
Shareholders' Equity	2,692	2,706	2,760	2,512	2,619	2,879
Total Liabilities & Equity	5,160	4,755	4,858	4,451	4,544	4,882
Total Debt	1,479	1,260	1,420	1,215	1,092	987.44
Net Cash (Debt)	-876.99	-823.62	-622.84	-263.06	90.08	487.51
Net Cash Growth	-	-	-	-	-81.52%	-
Net Cash Per Share	-2.17	-2.08	-1.58	-0.67	0.23	1.38
Filing Date Shares Outstanding	392.89	392.89	392.89	392.89	392.89	392.89
Total Common Shares Outstanding	392.89	392.89	392.89	392.89	392.89	392.89
Working Capital	1,191	1,259	1,358	1,221	1,361	1,923
Book Value Per Share	6.83	6.87	6.98	6.36	6.64	7.32
Tangible Book Value	2,084	2,085	2,120	1,892	1,993	2,253
Tangible Book Value Per Share	5.31	5.31	5.40	4.81	5.07	5.73
Buildings	-	804.12	806.51	403.32	403.13	400.08
Machinery	-	636.56	614.74	550.95	531.62	528.59
Construction In Progress	-	120.61	26.14	244.74	211.25	99.68

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