Tibet Development 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	978.1	969.84	618.81	544.42	89.38	30.32
Cash & Short-Term Investments	978.1	969.84	618.81	544.42	89.38	30.32
Cash Growth	17.17%	56.73%	13.66%	509.11%	194.81%	4.21%
Accounts Receivable	0	0	-	-	26.65	31.23
Other Receivables	0.6	0.53	0.45	0.33	422.67	476.88
Receivables	0.6	0.53	0.45	0.33	449.31	508.11
Inventory	34.39	31.05	33.98	30.39	11.7	21.76
Other Current Assets	4.25	6.36	3.98	4.07	2.09	2.16
Total Current Assets	1,017	1,008	657.22	579.21	552.49	562.35
Property, Plant & Equipment	193.43	192.79	141.29	137.41	78.49	90.69
Long-Term Investments	171.76	174.37	181.98	189.82	228.79	246.08
Other Intangible Assets	6.19	6.34	4.91	4.44	4.59	4.74
Long-Term Deferred Tax Assets	0.11	0.14	13.17	13.17	14.82	5.37
Long-Term Deferred Charges	2.39	2.7	2	0.57	-	-
Other Long-Term Assets	10.88	0.08	-	1.94	26.29	-
Total Assets	1,402	1,384	1,001	926.56	905.46	909.24
Accounts Payable	48.33	54.65	20.77	19.15	11	8.14
Accrued Expenses	1.65	2.04	9.4	6.39	7	3.7
Short-Term Debt	-	-	299.25	305.99	465.2	445.91
Current Portion of Long-Term Debt	0.78	1.04	-	-	-	-
Current Income Taxes Payable	10.36	8.6	3.82	2.18	1.16	2.78
Current Unearned Revenue	1.15	0.92	0.33	3.13	-	-
Other Current Liabilities	159.49	157.8	9.58	9.38	31.67	32.89
Total Current Liabilities	221.75	225.05	343.14	346.22	516.02	493.43
Long-Term Debt	4.3	4.3	4.3	4.3	4.3	4.3
Long-Term Unearned Revenue	6.06	4.45	0.79	0.79	0.79	0.79
Long-Term Deferred Tax Liabilities	0.11	0.14	-	-	-	-
Other Long-Term Liabilities	25.12	25.12	25.12	25.12	40.84	42.51
Total Liabilities	257.35	259.06	373.35	376.43	561.95	541.02
Common Stock	263.76	263.76	263.76	263.76	263.76	263.76
Additional Paid-In Capital	545.84	545.84	213.84	213.84	24.06	24.06
Retained Earnings	-188.47	-195.79	-339.79	-365.99	-340.21	-252.63
Total Common Equity	621.13	613.81	137.81	111.61	-52.39	35.18
Minority Interest	523.63	511.32	489.41	438.51	395.91	333.03
Shareholders' Equity	1,145	1,125	627.22	550.13	343.51	368.22
Total Liabilities & Equity	1,402	1,384	1,001	926.56	905.46	909.24
Total Debt	5.08	5.34	303.55	310.29	469.5	450.21
Net Cash (Debt)	973.02	964.5	315.27	234.13	-380.12	-419.89
Net Cash Growth	85.67%	205.93%	34.66%	-	-	-
Net Cash Per Share	3.69	3.66	1.20	0.89	-1.44	-1.46
Filing Date Shares Outstanding	263.39	263.69	263.76	263.76	263.76	263.76
Total Common Shares Outstanding	263.39	263.69	263.76	263.76	263.76	263.76
Working Capital	795.59	782.74	314.08	232.99	36.46	68.92
Book Value Per Share	2.36	2.33	0.52	0.42	-0.20	0.13
Tangible Book Value	614.94	607.47	132.9	107.18	-56.98	30.44
Tangible Book Value Per Share	2.33	2.30	0.50	0.41	-0.22	0.12
Buildings	-	-	104.46	171.03	177.08	177.08
Machinery	-	-	218.88	214.92	223.88	227.45
Construction In Progress	-	-	-	10.32	-	-

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