Hefei Kewell Power System Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-	447.58	733.7	568.82	378.48
Trading Asset Securities	-	311.01	170.09	170.58	382.03
Cash & Short-Term Investments	649.22	758.58	903.79	739.41	760.51
Cash Growth	-14.42%	-16.07%	22.23%	-2.77%	-2.85%
Accounts Receivable	-	295.84	333.07	247.73	159.68
Other Receivables	-	3.59	3.24	3.8	2.25
Receivables	-	299.43	336.31	251.53	161.93
Inventory	-	274	228.72	172.31	93.22
Other Current Assets	-	10.69	3.06	8.83	12.01
Total Current Assets	-	1,343	1,472	1,172	1,028
Property, Plant & Equipment	-	309.99	206.15	145.78	98.74
Long-Term Investments	-	8.55	5.08	5.05	-
Goodwill	-	3.01	3.01	3.01	3.01
Other Intangible Assets	-	22.08	21.76	22.07	10.05
Long-Term Deferred Tax Assets	-	10.45	9.55	7.81	4.27
Long-Term Deferred Charges	-	2.74	2.04	3.83	3.12
Other Long-Term Assets	-	12	13.85	0.17	0.98
Total Assets	-	1,712	1,733	1,360	1,148
Accounts Payable	-	230.1	241.29	195.37	106.49
Accrued Expenses	-	24.83	25.63	20.65	12.25
Short-Term Debt	-	30.02	33.03	30.01	-
Current Portion of Leases	-	2.4	0.56	2.93	4.46
Current Income Taxes Payable	-	0.01	6.5	3.5	-
Current Unearned Revenue	-	80.29	72.19	49.22	31.36
Other Current Liabilities	-	19.86	20.82	14.38	8.36
Total Current Liabilities	-	387.49	400.01	316.06	162.93
Long-Term Leases	-	2.46	1.61	2.08	4.54
Long-Term Unearned Revenue	-	7.87	8.62	3.72	3.89
Long-Term Deferred Tax Liabilities	-	0.37	0.26	0.28	0.66
Other Long-Term Liabilities	-	12.77	12.25	7.57	4.86
Total Liabilities	-	410.96	422.75	329.7	176.88
Common Stock	-	84.02	83.74	80.24	80
Additional Paid-In Capital	-	962.12	956.64	765.41	749.38
Retained Earnings	-	269.12	270.35	183.06	138.84
Treasury Stock	-	-11.82	-	-	-
Comprehensive Income & Other	-	-2.15	-0.42	0.05	-
Total Common Equity	1,304	1,301	1,310	1,029	968.22
Minority Interest	-	-0.72	0.25	1.34	2.72
Shareholders' Equity	1,304	1,301	1,311	1,030	970.94
Total Liabilities & Equity	-	1,712	1,733	1,360	1,148
Total Debt	3.26	34.88	35.19	35.02	9.01
Net Cash (Debt)	645.96	723.71	868.6	704.38	751.5
Net Cash Growth	-10.74%	-16.68%	23.31%	-6.27%	-4.00%
Net Cash Per Share	7.76	8.71	10.76	8.83	9.37
Filing Date Shares Outstanding	83.14	83.59	83.8	80.24	80
Total Common Shares Outstanding	83.14	83.59	83.74	80.24	80
Working Capital	-	955.23	1,072	856.02	864.73
Book Value Per Share	15.89	15.57	15.65	12.82	12.10
Tangible Book Value	1,283	1,276	1,286	1,004	955.16
Tangible Book Value Per Share	15.63	15.27	15.35	12.51	11.94
Buildings	-	148.94	148.54	117.02	51.63
Machinery	-	58.2	47.01	39.41	18.71
Construction In Progress	-	138.58	37.28	3.15	30.37

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.