Xinjiang Daqo New Energy 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	1,825	4,527	5,007	19,629	23,803	4,586
Short-Term Investments	-	6,622	7,936	-	-	-
Trading Asset Securities	1,786	729.6	-	-	-	1,716
Cash & Short-Term Investments	3,611	11,879	12,943	19,629	23,803	6,302
Cash Growth	-16.48%	-8.23%	-34.06%	-17.54%	277.72%	805.77%
Accounts Receivable	143.34	950.94	402.71	825.82	8,316	3,680
Other Receivables	23.81	22.7	143.23	292.73	15.57	2.61
Receivables	167.15	973.64	545.94	1,119	8,331	3,683
Inventory	1,951	1,351	1,196	1,336	1,230	2,124
Other Current Assets	9,442	2,170	1,882	1,290	292.41	239.87
Total Current Assets	15,171	16,373	16,566	23,374	33,656	12,348
Property, Plant & Equipment	23,375	23,786	25,396	24,840	16,528	9,824
Long-Term Investments	4.47	448.03	206.19	200.24	4.47	4.47
Other Intangible Assets	1,111	1,120	1,144	1,083	553.52	256.86
Long-Term Deferred Tax Assets	945.9	796.11	617.49	24.29	12.48	-
Long-Term Deferred Charges	146.37	148.84	154.55	119.1	-	-
Other Long-Term Assets	469.32	31.1	115.74	1,054	1,510	39.03
Total Assets	41,223	42,704	44,200	50,695	52,265	22,472
Accounts Payable	820.13	907.11	236.22	652.77	985.27	1,447
Accrued Expenses	66.44	155.43	121.66	320.09	275.71	143.32
Short-Term Debt	-	-	-	-	212.85	184.85
Current Income Taxes Payable	15.21	-	3.65	636.31	1,529	454.13
Current Unearned Revenue	164.23	344.4	271.48	1,057	841.44	1,290
Other Current Liabilities	1,828	2,058	3,128	3,208	1,690	1,594
Total Current Liabilities	2,894	3,465	3,761	5,875	5,534	5,114
Long-Term Debt	-	-	-	-	-	164.25
Long-Term Unearned Revenue	160.92	216.6	281.74	936.85	1,189	715.56
Long-Term Deferred Tax Liabilities	-	-	-	3.98	-	10.45
Total Liabilities	3,055	3,681	4,043	6,816	6,723	6,004
Common Stock	2,145	2,145	2,145	2,145	2,137	1,925
Additional Paid-In Capital	17,478	17,478	17,478	17,511	17,011	6,113
Retained Earnings	18,920	19,721	20,850	24,461	26,393	8,427
Treasury Stock	-374.88	-320.85	-314.88	-259.93	-	-
Comprehensive Income & Other	-0.07	-	-	22.14	-	-
Total Common Equity	38,168	39,023	40,158	43,879	45,542	16,466
Minority Interest	-	-	-	-	-	2.88
Shareholders' Equity	38,168	39,023	40,158	43,879	45,542	16,469
Total Liabilities & Equity	41,223	42,704	44,200	50,695	52,265	22,472
Total Debt	-	-	-	-	212.85	349.1
Net Cash (Debt)	3,611	11,879	12,943	19,629	23,590	5,953
Net Cash Growth	-16.48%	-8.23%	-34.06%	-16.79%	296.29%	-
Net Cash Per Share	1.69	5.58	6.05	9.20	11.60	3.38
Filing Date Shares Outstanding	2,164	2,135	2,135	2,137	2,137	1,925
Total Common Shares Outstanding	2,164	2,135	2,135	2,137	2,137	1,925
Working Capital	12,277	12,908	12,806	17,499	28,122	7,235
Book Value Per Share	17.63	18.28	18.81	20.53	21.31	8.55
Tangible Book Value	37,057	37,902	39,014	42,796	44,988	16,209
Tangible Book Value Per Share	17.12	17.76	18.27	20.02	21.05	8.42
Buildings	-	8,223	8,192	6,419	3,769	2,913
Machinery	-	22,201	22,032	15,191	8,076	5,311
Construction In Progress	-	103.91	254.23	6,985	7,421	3,688

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