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 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	529.73	368.97	436	545.52	311.43	424.24
Trading Asset Securities	-	-	-	251.95	640.46	757.73
Cash & Short-Term Investments	529.73	368.97	436	797.47	951.89	1,182
Cash Growth	39.78%	-15.37%	-45.33%	-16.22%	-19.46%	-19.86%
Accounts Receivable	1,674	1,565	1,293	1,254	1,081	977.32
Other Receivables	17.51	16.83	14.4	18.07	9.87	9.32
Receivables	1,692	1,582	1,307	1,272	1,091	986.63
Inventory	1,240	1,275	1,118	920.82	775.43	751.35
Prepaid Expenses	-	-	0.99	0.27	0.17	0.68
Other Current Assets	53.57	45.18	44.81	58.03	26.48	29.23
Total Current Assets	3,515	3,270	2,906	3,048	2,844	2,950
Property, Plant & Equipment	885.23	911.83	933.93	916.5	695.93	697.27
Long-Term Investments	112.59	110.41	97.98	95.09	95.25	104.79
Goodwill	440.67	440.67	447.54	447.54	466.65	466.65
Other Intangible Assets	157.08	157.27	167.68	175.17	139.74	147.76
Long-Term Deferred Tax Assets	139.64	134.51	137.02	136.98	123.93	78.4
Long-Term Deferred Charges	26.91	29.04	24.79	27.53	2.99	2.32
Other Long-Term Assets	46.95	41.34	39.33	10.46	82.21	96.86
Total Assets	5,324	5,096	4,755	4,858	4,451	4,544
Accounts Payable	835.62	779.81	591.86	467.39	448.36	454.06
Accrued Expenses	28.31	45.99	86.28	71.81	57.62	45.57
Short-Term Debt	1,015	901.31	801.13	970.51	912.05	702.73
Current Portion of Long-Term Debt	260.92	261.56	85.05	85.32	40.11	216.68
Current Portion of Leases	-	-	21.5	19.5	7.4	4.34
Current Income Taxes Payable	33.35	32.35	17.24	15.4	19.58	14.06
Current Unearned Revenue	41.03	27.63	39.06	21.84	10.87	15.33
Other Current Liabilities	14.17	16.54	5.09	38.6	127.95	136.08
Total Current Liabilities	2,229	2,065	1,647	1,690	1,624	1,589
Long-Term Debt	272.64	221.32	296.42	270.25	233.75	150
Long-Term Leases	32.07	34.66	55.52	74.73	21.63	18.13
Long-Term Unearned Revenue	31.19	32.97	32.78	40.64	39.32	31.66
Long-Term Deferred Tax Liabilities	3.13	3.18	4.16	11.55	10.34	6.42
Other Long-Term Liabilities	13.69	13.64	12.1	9.99	10.29	129.41
Total Liabilities	2,582	2,371	2,048	2,098	1,939	1,924
Common Stock	392.89	392.89	392.89	392.89	392.89	392.89
Additional Paid-In Capital	1,592	1,592	1,592	1,613	1,626	1,626
Retained Earnings	728.29	716.09	708.61	731.75	475.31	588.86
Comprehensive Income & Other	23.21	17.06	6.44	5.1	4.2	-0.04
Total Common Equity	2,736	2,718	2,700	2,743	2,498	2,607
Minority Interest	6.21	6.51	6.51	17.25	13.97	12.23
Shareholders' Equity	2,743	2,725	2,706	2,760	2,512	2,619
Total Liabilities & Equity	5,324	5,096	4,755	4,858	4,451	4,544
Total Debt	1,581	1,419	1,260	1,420	1,215	1,092
Net Cash (Debt)	-1,051	-1,050	-823.62	-622.84	-263.06	90.08
Net Cash Growth	-	-	-	-	-	-81.52%
Net Cash Per Share	-2.70	-2.69	-2.08	-1.58	-0.67	0.23
Filing Date Shares Outstanding	406.89	385.32	392.89	392.89	392.89	392.89
Total Common Shares Outstanding	406.89	385.32	392.89	392.89	392.89	392.89
Working Capital	1,286	1,205	1,259	1,358	1,221	1,361
Book Value Per Share	6.73	7.05	6.87	6.98	6.36	6.64
Tangible Book Value	2,139	2,120	2,085	2,120	1,892	1,993
Tangible Book Value Per Share	5.26	5.50	5.31	5.40	4.81	5.07
Buildings	-	-	804.12	806.51	403.32	403.13
Machinery	-	-	636.56	614.74	550.95	531.62
Construction In Progress	-	-	120.61	26.14	244.74	211.25

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