GEPIC Energy 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	3,783	3,280	2,396	2,071	1,733	507.86
Accounts Receivable	2,747	2,933	2,939	2,687	1,709	1,644
Other Receivables	-	-	-	-	0.02	0.33
Inventory	136.27	336.72	157.53	210.05	11.73	10.22
Prepaid Expenses	-	33.59	45.29	0.49	1.1	4.63
Other Current Assets	351.27	400.95	280.61	293.98	389.35	50.31
Total Current Assets	7,018	6,984	5,819	5,262	3,844	2,217
Property, Plant & Equipment	30,547	30,721	27,822	26,435	16,909	14,305
Goodwill	18.12	18.12	18.12	18.12	18.12	18.12
Other Intangible Assets	266.36	268.23	259.61	264.68	202.45	202.63
Long-Term Investments	1,135	1,117	1,079	1,007	801.96	781.75
Long-Term Deferred Tax Assets	10.38	10.24	17.63	16.62	17	8.99
Long-Term Deferred Charges	0.28	0.3	0.35	0.4	0.75	0.83
Long-Term Accounts Receivable	-	-	-	-	14.24	14.24
Other Long-Term Assets	573.44	166.6	876.77	920.74	35.08	234.61
Total Assets	39,568	39,286	35,892	33,925	21,843	17,784
Accounts Payable	1,087	1,367	1,076	1,911	1,179	218.95
Accrued Expenses	57.37	173.12	140.59	146.31	85.3	66.71
Short-Term Debt	750.48	1,116	220.15	310.14	129.94	139.98
Current Portion of Long-Term Debt	1,542	2,323	1,841	1,230	2,273	1,513
Current Unearned Revenue	0.57	0.61	0.26	0.91	-	-
Current Portion of Leases	-	43	40.97	51.37	8.89	1.94
Current Income Taxes Payable	89.66	19.39	11.28	75.48	9	6.3
Other Current Liabilities	937.18	1,045	897.55	783.79	362.37	116.98
Total Current Liabilities	4,463	6,086	4,228	4,509	4,047	2,064
Long-Term Debt	15,440	14,346	14,906	15,481	8,194	7,561
Long-Term Leases	148.64	126.35	178.74	212.99	215.76	58.85
Long-Term Unearned Revenue	2.04	2.05	2.07	-	-	-
Long-Term Deferred Tax Liabilities	5.83	5.83	6.3	5.96	6.01	0.61
Other Long-Term Liabilities	0.04	0.35	4.93	3.05	3.65	12.36
Total Liabilities	20,060	20,567	19,326	20,211	12,467	9,696
Common Stock	3,244	3,244	3,244	1,601	1,601	1,360
Additional Paid-In Capital	6,065	6,064	6,064	6,431	4,495	3,540
Retained Earnings	6,178	5,734	4,255	3,271	2,152	1,904
Comprehensive Income & Other	66.6	7.86	3.92	9.82	10.28	10.05
Total Common Equity	15,553	15,050	13,567	11,312	8,257	6,814
Minority Interest	3,955	3,670	2,999	2,401	1,119	1,274
Shareholders' Equity	19,508	18,720	16,566	13,714	9,376	8,088
Total Liabilities & Equity	39,568	39,286	35,892	33,925	21,843	17,784
Total Debt	17,880	17,953	17,187	17,285	10,822	9,274
Net Cash (Debt)	-14,097	-14,673	-14,791	-15,214	-9,088	-8,766
Net Cash Per Share	-4.35	-4.52	-4.77	-4.90	-6.68	-6.45
Filing Date Shares Outstanding	3,244	3,244	3,244	1,601	1,601	1,360
Total Common Shares Outstanding	3,244	3,244	3,244	1,601	1,601	1,360
Working Capital	2,554	897.92	1,591	753.09	-203.18	153.75
Book Value Per Share	4.79	4.64	4.18	7.07	5.16	5.01
Tangible Book Value	15,268	14,764	13,289	11,029	8,037	6,593
Tangible Book Value Per Share	4.71	4.55	4.10	6.89	5.02	4.85
Buildings	-	17,349	15,922	15,889	12,946	12,833
Machinery	-	26,035	21,476	21,340	11,204	10,262
Construction In Progress	-	1,409	3,047	425.86	2,354	97.87

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