Ningxia Guoyun New Energy 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	Jan '22 Jan 1, 2022
Cash & Equivalents	1,309	52.07	100.5	128.03	244.3
Cash & Short-Term Investments	1,309	52.07	100.5	128.03	244.3
Cash Growth	2413.73%	-48.19%	-21.51%	-47.59%	-34.95%
Accounts Receivable	535.46	217.7	260.25	245.87	224.34
Other Receivables	15.89	2.55	2.62	6.9	6.53
Receivables	551.35	220.24	262.87	252.77	230.88
Inventory	30.21	170.3	180.18	203.97	188.02
Other Current Assets	562.82	105	9.9	22.61	14.88
Total Current Assets	2,453	547.61	553.45	607.39	678.07
Property, Plant & Equipment	7,812	305.13	342.57	378.21	399.1
Goodwill	-	10.77	68.09	124.61	147.43
Other Intangible Assets	31.23	76.35	120.54	124.86	129.43
Long-Term Deferred Tax Assets	8.72	1.09	1.06	0.82	0.42
Long-Term Deferred Charges	-	3.94	0.05	0.15	0.1
Other Long-Term Assets	-	-	7.49	7.99	8.48
Total Assets	10,305	944.9	1,093	1,244	1,363
Accounts Payable	1,014	69.23	76.02	61.03	43.19
Accrued Expenses	10.96	27.18	32.85	34.48	49.59
Short-Term Debt	2,389	300	60	1.04	1.08
Current Portion of Long-Term Debt	374.03	-	51.82	36.86	24.36
Current Portion of Leases	-	0.36	-	0.23	0.22
Current Income Taxes Payable	14.78	0.1	1.29	1.17	0.52
Current Unearned Revenue	2.65	1.71	15.21	9.29	7.09
Other Current Liabilities	670.76	125.53	128.96	132.87	153.79
Total Current Liabilities	4,476	524.12	366.15	276.96	279.85
Long-Term Debt	3,674	-	135.16	184.3	219.22
Long-Term Leases	151.34	0.38	-	-	0.22
Long-Term Unearned Revenue	51.97	35.21	35.26	36.58	38.21
Long-Term Deferred Tax Liabilities	0	0.01	0.02	0.03	0.04
Other Long-Term Liabilities	862.22	11.13	15.37	18.27	12.39
Total Liabilities	9,215	570.84	551.96	516.14	549.94
Common Stock	1,139	1,139	1,139	1,139	1,139
Additional Paid-In Capital	566.53	694.95	694.95	694.95	694.95
Retained Earnings	-1,234	-1,520	-1,353	-1,172	-1,082
Treasury Stock	-1.14	-1.14	-1.14	-1.14	-4.88
Comprehensive Income & Other	10.12	4.37	5.16	6.56	7.28
Total Common Equity	479.92	316.99	484.82	666.99	753.8
Minority Interest	610.24	57.07	56.48	60.9	59.31
Shareholders' Equity	1,090	374.06	541.3	727.9	813.1
Total Liabilities & Equity	10,305	944.9	1,093	1,244	1,363
Total Debt	6,588	300.74	246.98	222.43	245.11
Net Cash (Debt)	-5,279	-248.67	-146.48	-94.4	-0.81
Net Cash Per Share	-4.44	-0.22	-0.13	-0.08	-0.00
Filing Date Shares Outstanding	1,226	1,139	878.78	1,139	1,139
Total Common Shares Outstanding	1,226	1,139	878.78	1,139	1,139
Working Capital	-2,023	23.49	187.3	330.43	398.23
Book Value Per Share	0.39	0.28	0.55	0.59	0.66
Tangible Book Value	448.69	229.87	296.18	417.52	476.94
Tangible Book Value Per Share	0.37	0.20	0.34	0.37	0.42
Buildings	-	230.33	448.32	472.47	465.24
Machinery	-	380.38	390.81	404.13	441.38
Construction In Progress	-	61.84	30.1	17.38	16.98

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