Qingdao Victall Railway Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	653.68	368.97	436	545.52	311.43	424.24
Trading Asset Securities	-	-	-	251.95	640.46	757.73
Cash & Short-Term Investments	653.68	368.97	436	797.47	951.89	1,182
Cash Growth	-12.79%	-15.37%	-45.33%	-16.22%	-19.46%	-19.86%
Accounts Receivable	1,492	1,565	1,293	1,254	1,081	977.32
Other Receivables	20.03	16.83	14.4	18.07	9.87	9.32
Receivables	1,512	1,582	1,307	1,272	1,091	986.63
Inventory	1,198	1,275	1,118	920.82	775.43	751.35
Prepaid Expenses	-	0.24	0.99	0.27	0.17	0.68
Other Current Assets	48.57	44.95	44.81	58.03	26.48	29.23
Total Current Assets	3,413	3,270	2,906	3,048	2,844	2,950
Property, Plant & Equipment	842.53	911.83	933.93	916.5	695.93	697.27
Long-Term Investments	108.73	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	155.31	157.27	167.68	175.17	139.74	147.76
Long-Term Deferred Tax Assets	141.33	134.51	137.02	136.98	123.93	78.4
Long-Term Deferred Charges	29.31	29.04	24.79	27.53	2.99	2.32
Other Long-Term Assets	38.15	41.34	39.33	10.46	82.21	96.86
Total Assets	5,169	5,096	4,755	4,858	4,451	4,544

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	761.78	768.73	591.86	467.39	448.36	454.06
Accrued Expenses	26.88	80.03	86.28	71.81	57.62	45.57
Short-Term Debt	1,097	901.31	801.13	970.51	912.05	702.73
Current Portion of Long-Term Debt	216.47	243.04	85.05	85.32	40.11	216.68
Current Portion of Leases	-	18.52	21.5	19.5	7.4	4.34
Current Income Taxes Payable	17.87	19	17.24	15.4	19.58	14.06
Current Unearned Revenue	33.47	27.63	39.06	21.84	10.87	15.33
Other Current Liabilities	18.13	6.94	5.09	38.6	127.95	136.08
Total Current Liabilities	2,172	2,065	1,647	1,690	1,624	1,589
Long-Term Debt	285.14	221.32	296.42	270.25	233.75	150
Long-Term Leases	2.24	34.66	55.52	74.73	21.63	18.13
Long-Term Unearned Revenue	31.24	32.97	32.78	40.64	39.32	31.66
Long-Term Deferred Tax Liabilities	2.4	3.18	4.16	11.55	10.34	6.42
Other Long-Term Liabilities	32.23	13.64	12.1	9.99	10.29	129.41
Total Liabilities	2,525	2,371	2,048	2,098	1,939	1,924

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
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	636.53	716.09	708.61	731.75	475.31	588.86
Comprehensive Income & Other	15.3	17.06	6.44	5.1	4.2	-0.04
Total Common Equity	2,637	2,718	2,700	2,743	2,498	2,607
Minority Interest	7.19	6.51	6.51	17.25	13.97	12.23
Shareholders' Equity	2,644	2,725	2,706	2,760	2,512	2,619
Total Liabilities & Equity	5,169	5,096	4,755	4,858	4,451	4,544

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	1,601	1,419	1,260	1,420	1,215	1,092
Net Cash (Debt)	-947.28	-1,050	-823.62	-622.84	-263.06	90.08
Net Cash Growth	-	-	-	-	-	-81.52%
Net Cash Per Share	-2.41	-2.69	-2.08	-1.58	-0.67	0.23
Filing Date Shares Outstanding	399.66	392.89	392.89	392.89	392.89	392.89
Total Common Shares Outstanding	399.66	392.89	392.89	392.89	392.89	392.89
Working Capital	1,241	1,205	1,259	1,358	1,221	1,361
Book Value Per Share	6.60	6.92	6.87	6.98	6.36	6.64
Tangible Book Value	2,041	2,120	2,085	2,120	1,892	1,993
Tangible Book Value Per Share	5.11	5.40	5.31	5.40	4.81	5.07
Buildings	-	-	-	806.51	403.32	403.13
Machinery	-	681.6	636.56	614.74	550.95	531.62
Construction In Progress	-	77.98	120.61	26.14	244.74	211.25