CECEP Solar 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	2,491	2,178	1,921	2,406	4,572	1,360
Trading Asset Securities	50	100	-	1,580	2,700	-
Accounts Receivable	12,637	12,063	12,867	11,630	10,343	10,171
Other Receivables	94.65	19.75	1.33	34.81	52.6	67.8
Inventory	82.43	75.12	126.45	310.23	289.2	171.59
Prepaid Expenses	12.43	13.68	5.04	1.68	3.03	1.12
Other Current Assets	46.24	96.45	118.26	157.94	220.62	192.71
Total Current Assets	15,413	14,546	15,039	16,121	18,181	11,964
Property, Plant & Equipment	37,407	35,148	32,071	29,808	27,317	26,204
Other Intangible Assets	1,002	989.94	673.32	508.31	512.5	526.07
Long-Term Investments	15.67	15.67	15.83	15.99	16.01	16.99
Long-Term Deferred Tax Assets	119.11	116.02	87.7	85.25	70.08	68.68
Long-Term Deferred Charges	97.55	100.71	91.29	94.56	103.6	106.89
Other Long-Term Assets	1,140	917.56	1,006	570.31	306.03	890.05
Total Assets	55,195	51,834	48,984	47,204	46,506	39,776
Accounts Payable	2,122	2,621	2,436	2,925	2,474	1,148
Accrued Expenses	2.34	63.48	67.95	95.57	48.41	28.51
Short-Term Debt	1,048	1,208	1,101	500.37	600.5	200.2
Current Portion of Long-Term Debt	4,242	2,710	2,201	3,768	3,986	3,816
Current Unearned Revenue	14.69	13.27	11.77	57.7	117.44	51.07
Current Portion of Leases	-	265.29	177.93	283.56	31.89	41.35
Current Income Taxes Payable	141.33	77.13	73.37	75.57	52.12	62.78
Other Current Liabilities	615.31	491.57	456.61	258.05	468.26	542.5
Total Current Liabilities	8,186	7,450	6,525	7,963	7,778	5,891
Long-Term Debt	19,483	18,213	16,822	14,437	15,187	17,393
Long-Term Leases	1,547	1,621	1,565	1,237	1,235	972.79
Long-Term Unearned Revenue	352.32	359.57	390.67	420.39	440.86	468.6
Long-Term Deferred Tax Liabilities	3.72	3.94	4.51	2.36	2.03	-
Other Long-Term Liabilities	1,517	285.12	159.01	146.05	21.34	135.59
Total Liabilities	31,088	27,933	25,465	24,206	24,664	24,860
Common Stock	3,926	3,924	3,917	3,909	3,909	3,007
Additional Paid-In Capital	11,891	11,886	11,863	11,829	11,810	6,734
Retained Earnings	8,158	7,974	7,618	7,187	6,108	5,144
Treasury Stock	-49.87	-49.87	-	-	-	-
Comprehensive Income & Other	110.12	93.91	53.74	31.96	1.67	6.72
Total Common Equity	24,034	23,829	23,452	22,957	21,829	14,891
Minority Interest	72	71.14	66.96	40.36	13.02	24.47
Shareholders' Equity	24,106	23,900	23,519	22,998	21,842	14,916
Total Liabilities & Equity	55,195	51,834	48,984	47,204	46,506	39,776
Total Debt	26,320	24,018	21,866	20,226	21,040	22,423
Net Cash (Debt)	-23,779	-21,740	-19,944	-16,239	-13,767	-21,063
Net Cash Per Share	-5.82	-5.38	-5.09	-4.15	-4.05	-6.97
Filing Date Shares Outstanding	3,915	3,915	3,917	3,909	3,909	3,007
Total Common Shares Outstanding	3,915	3,924	3,917	3,909	3,909	3,007
Working Capital	7,227	7,096	8,514	8,158	10,403	6,073
Book Value Per Share	6.14	6.07	5.99	5.87	5.58	4.95
Tangible Book Value	23,033	22,839	22,778	22,449	21,317	14,365
Tangible Book Value Per Share	5.88	5.82	5.82	5.74	5.45	4.78
Buildings	-	2,084	2,169	1,833	1,792	1,782
Machinery	-	39,371	36,679	32,304	31,283	30,761
Construction In Progress	-	3,348	2,906	4,492	2,348	441.05

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