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 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	803.08	1,233	1,101	838.07	636.72	763.02
Cash & Short-Term Investments	803.08	1,233	1,101	838.07	636.72	763.02
Cash Growth	-31.84%	12.01%	31.40%	31.62%	-16.55%	-32.34%
Accounts Receivable	56.1	71.82	55.11	92.55	112.45	128.7
Other Receivables	1.95	1.7	1.46	1.07	74.61	0.91
Receivables	58.05	73.52	56.57	93.62	187.06	129.61
Inventory	1.28	1.35	1.57	1.57	0.64	1.04
Prepaid Expenses	-	-	-	-	0.06	0.2
Other Current Assets	507.03	6.56	21.7	5.44	4.45	9.4
Total Current Assets	1,369	1,315	1,181	938.7	828.93	903.28
Property, Plant & Equipment	142.08	146.7	117.29	102.14	76.12	64.24
Other Intangible Assets	10,547	10,665	11,132	11,660	12,237	12,439
Long-Term Deferred Tax Assets	11.62	11.65	19.13	23.1	10.22	3.89
Long-Term Deferred Charges	17.35	18.22	18.49	-	-	-
Other Long-Term Assets	1.23	1.23	1.13	20.07	16	28
Total Assets	12,169	12,157	12,469	12,744	13,168	13,439
Accounts Payable	291.51	379.65	325.85	295.3	345.13	310.02
Accrued Expenses	21.04	31.28	48.25	50.16	60.05	62.46
Short-Term Debt	-	-	225.62	325.62	417.31	699.93
Current Portion of Long-Term Debt	546.09	248.71	196	230	240	163
Current Portion of Leases	-	-	48.47	90.17	89.17	188.89
Current Income Taxes Payable	45.93	45.67	26.48	33.29	25.3	42.21
Current Unearned Revenue	0.02	0.03	0.61	2.08	2.25	1.09
Other Current Liabilities	307.44	306.35	74.81	90.29	263.05	291.9
Total Current Liabilities	1,212	1,012	946.08	1,117	1,442	1,759
Long-Term Debt	5,302	5,602	6,142	6,618	6,848	7,363
Long-Term Leases	5.68	7.13	8.19	51.14	129.39	210.81
Long-Term Unearned Revenue	0.86	0.98	1.47	1.96	2.45	2.94
Long-Term Deferred Tax Liabilities	3.54	3.54	3.03	4.75	4.01	-
Other Long-Term Liabilities	12.69	12.6	15.99	-	-	-
Total Liabilities	6,537	6,638	7,117	7,793	8,426	9,336
Common Stock	1,467	1,467	1,467	1,467	1,467	1,467
Additional Paid-In Capital	2,738	2,738	2,744	2,744	2,923	2,793
Retained Earnings	1,426	1,313	1,140	740.09	352.36	-158.01
Comprehensive Income & Other	0.99	0.99	0.01	-	-	-
Total Common Equity	5,632	5,519	5,352	4,952	4,742	4,103
Shareholders' Equity	5,632	5,519	5,352	4,952	4,742	4,103
Total Liabilities & Equity	12,169	12,157	12,469	12,744	13,168	13,439
Total Debt	5,854	5,858	6,621	7,315	7,724	8,625
Net Cash (Debt)	-5,051	-4,625	-5,519	-6,477	-7,087	-7,862
Net Cash Per Share	-3.44	-3.15	-3.76	-4.41	-4.83	-5.77
Filing Date Shares Outstanding	1,467	1,466	1,467	1,467	1,467	1,467
Total Common Shares Outstanding	1,467	1,466	1,467	1,467	1,467	1,467
Working Capital	157.41	303.23	234.99	-178.2	-613.34	-856.22
Book Value Per Share	3.84	3.77	3.65	3.37	3.23	2.80
Tangible Book Value	-4,915	-5,145	-5,780	-6,709	-7,495	-8,337
Tangible Book Value Per Share	-3.35	-3.51	-3.94	-4.57	-5.11	-5.68
Buildings	-	-	45.29	22.43	18.78	18.57
Machinery	-	-	88.48	68.05	53.11	40.61
Construction In Progress	-	-	13.49	29.78	21.83	16.7

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