Shanxi Hi-speed Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	1,069	1,101	838.07	636.72	763.02	1,128
Cash & Short-Term Investments	1,069	1,101	838.07	636.72	763.02	1,128
Cash Growth	7.54%	31.40%	31.62%	-16.55%	-32.34%	132.68%
Accounts Receivable	54.01	55.11	92.55	112.45	128.7	242.15
Other Receivables	1.93	1.46	1.07	74.61	0.91	2.07
Receivables	55.94	56.57	93.62	187.06	129.61	244.21
Inventory	8.25	1.57	1.57	0.64	1.04	1.34
Prepaid Expenses	-	-	-	0.06	0.2	0.88
Other Current Assets	13.68	21.7	5.44	4.45	9.4	8.08
Total Current Assets	1,147	1,181	938.7	828.93	903.28	1,382
Property, Plant & Equipment	120.02	117.29	102.14	76.12	64.24	51.45
Other Intangible Assets	10,807	11,132	11,660	12,237	12,439	12,965
Long-Term Deferred Tax Assets	15.2	19.13	23.1	10.22	3.89	27.68
Long-Term Deferred Charges	15.89	18.49	-	-	-	-
Other Long-Term Assets	0.8	1.13	20.07	16	28	28
Total Assets	12,107	12,469	12,744	13,168	13,439	14,454
Accounts Payable	302.81	325.85	295.3	345.13	310.02	299.67
Accrued Expenses	17.6	48.25	50.16	60.05	62.46	64.99
Short-Term Debt	-	225.62	325.62	417.31	699.93	699.92
Current Portion of Long-Term Debt	208.55	196	230	240	163	269.39
Current Portion of Leases	-	48.47	90.17	89.17	188.89	188.89
Current Income Taxes Payable	62.29	26.48	33.29	25.3	42.21	1.74
Current Unearned Revenue	4.84	0.61	2.08	2.25	1.09	3.79
Other Current Liabilities	300.81	74.81	90.29	263.05	291.9	847.46
Total Current Liabilities	896.9	946.08	1,117	1,442	1,759	2,376
Long-Term Debt	5,738	6,142	6,618	6,848	7,363	8,451
Long-Term Leases	6.85	8.19	51.14	129.39	210.81	391.7
Long-Term Unearned Revenue	3.02	1.47	1.96	2.45	2.94	3.43
Long-Term Deferred Tax Liabilities	3.39	3.03	4.75	4.01	-	-
Other Long-Term Liabilities	14.4	15.99	-	-	-	10.54
Total Liabilities	6,662	7,117	7,793	8,426	9,336	11,233
Common Stock	1,467	1,467	1,467	1,467	1,467	469.26
Additional Paid-In Capital	2,738	2,744	2,744	2,923	2,793	3,316
Retained Earnings	1,239	1,140	740.09	352.36	-158.01	-564.04
Comprehensive Income & Other	0.72	0.01	-	-	-	-
Total Common Equity	5,444	5,352	4,952	4,742	4,103	3,222
Shareholders' Equity	5,444	5,352	4,952	4,742	4,103	3,222
Total Liabilities & Equity	12,107	12,469	12,744	13,168	13,439	14,454
Total Debt	5,953	6,621	7,315	7,724	8,625	10,001
Net Cash (Debt)	-4,884	-5,519	-6,477	-7,087	-7,862	-8,874
Net Cash Per Share	-3.33	-3.76	-4.41	-4.83	-5.77	-6.69
Filing Date Shares Outstanding	1,467	1,467	1,467	1,467	1,467	469.26
Total Common Shares Outstanding	1,467	1,467	1,467	1,467	1,467	469.26
Working Capital	250.39	234.99	-178.2	-613.34	-856.22	-993.57
Book Value Per Share	3.71	3.65	3.37	3.23	2.80	6.87
Tangible Book Value	-5,363	-5,780	-6,709	-7,495	-8,337	-9,743
Tangible Book Value Per Share	-3.66	-3.94	-4.57	-5.11	-5.68	-20.76
Buildings	-	45.29	22.43	18.78	18.57	8.53
Machinery	-	88.48	68.05	53.11	40.61	37.02
Construction In Progress	-	13.49	29.78	21.83	16.7	10.38

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.