Huludao Zinc Industry 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	Dec '21 Dec 31, 2021
Cash & Equivalents	2,071	1,474	1,527	2,028	1,629	1,450
Cash & Short-Term Investments	2,071	1,474	1,527	2,028	1,629	1,450
Cash Growth	15.13%	-3.47%	-24.73%	24.51%	12.32%	36.88%
Accounts Receivable	471.76	396.47	368.33	329.01	338.88	329.15
Other Receivables	29.03	5.04	5.94	4.73	6.46	8.61
Receivables	500.8	401.5	374.27	333.74	345.34	337.76
Inventory	4,563	4,313	3,749	3,380	2,794	3,107
Other Current Assets	942.46	549.1	509.2	298.2	620.64	506.06
Total Current Assets	8,078	6,737	6,159	6,040	5,389	5,401
Property, Plant & Equipment	2,127	2,136	1,923	1,922	1,912	1,903
Long-Term Investments	0.27	0.27	2.25	3.42	5.65	10.46
Other Intangible Assets	772.03	778.7	805.44	852.97	880.3	907.64
Long-Term Deferred Tax Assets	7.57	7.57	6.77	7.73	13.33	8.09
Long-Term Deferred Charges	-	-	-	0.09	-	-
Other Long-Term Assets	53.49	63.45	78.42	20.86	20.84	19.36
Total Assets	11,038	9,723	8,975	8,848	8,222	8,250
Accounts Payable	2,085	1,510	1,512	1,658	1,364	1,443
Accrued Expenses	1.89	0.07	14.05	18.3	24.52	13.76
Short-Term Debt	3,778	3,359	2,790	2,384	2,125	2,067
Current Portion of Long-Term Debt	0.06	0.18	183.54	206.24	253.75	207.51
Current Portion of Leases	-	-	0.42	0.87	1.06	0.43
Current Income Taxes Payable	55.22	43.81	0.36	2.43	10.81	17.93
Current Unearned Revenue	274.94	113.69	45.74	34.47	36.58	89.43
Other Current Liabilities	970.47	897.2	692.92	781.12	1,209	1,266
Total Current Liabilities	7,166	5,924	5,240	5,084	5,025	5,106
Long-Term Debt	-	-	150	150	158	150
Long-Term Leases	-	-	0.18	-	0.87	0.7
Long-Term Unearned Revenue	25.75	26.32	30.7	31.77	40.03	48.49
Long-Term Deferred Tax Liabilities	-	-	0.19	0.14	-	0.23
Other Long-Term Liabilities	150.93	150.93	0.93	0.95	1.59	14.4
Total Liabilities	7,343	6,101	5,422	5,267	5,225	5,319
Common Stock	1,616	1,616	1,616	1,616	1,410	1,410
Additional Paid-In Capital	1,416	1,416	1,416	1,416	1,127	1,127
Retained Earnings	663.26	589.54	521.39	548.58	459.47	393.6
Total Common Equity	3,695	3,621	3,553	3,580	2,996	2,930
Shareholders' Equity	3,695	3,621	3,553	3,580	2,996	2,930
Total Liabilities & Equity	11,038	9,723	8,975	8,848	8,222	8,250
Total Debt	3,778	3,359	3,124	2,741	2,539	2,426
Net Cash (Debt)	-1,707	-1,885	-1,598	-712.58	-910.23	-975.56
Net Cash Per Share	-1.00	-1.11	-0.75	-0.48	-0.69	-0.68
Filing Date Shares Outstanding	1,617	1,964	1,616	1,616	1,410	1,410
Total Common Shares Outstanding	1,617	1,964	1,616	1,616	1,410	1,410
Working Capital	911.75	812.78	919.37	955.87	364.35	295.14
Book Value Per Share	2.29	1.84	2.20	2.22	2.13	2.08
Tangible Book Value	2,923	2,843	2,748	2,727	2,116	2,023
Tangible Book Value Per Share	1.81	1.45	1.70	1.69	1.50	1.43
Buildings	-	-	2,210	2,215	2,156	2,147
Machinery	-	-	2,285	2,270	2,224	2,106
Construction In Progress	-	-	254.59	176.33	109.7	93.42

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