New Hope Liuhe 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Cash & Equivalents	8,274	8,627	8,699	10,850	11,512	14,869
Trading Asset Securities	21.93	14.95	4.27	8.29	148.91	20.54
Cash & Short-Term Investments	8,296	8,642	8,703	10,858	11,661	14,890
Cash Growth	-0.62%	-0.71%	-19.85%	-6.89%	-21.68%	69.17%
Accounts Receivable	2,009	1,310	1,119	2,117	1,365	1,156
Other Receivables	555.25	547.62	985.56	3,509	1,548	575.39
Receivables	2,564	1,857	2,104	5,626	2,913	1,732
Inventory	11,867	10,093	10,732	13,316	17,901	15,926
Prepaid Expenses	-	-	-	-	-	63.25
Other Current Assets	887.26	716.26	765.7	1,342	3,074	2,210
Total Current Assets	23,614	21,308	22,306	31,142	35,549	34,820
Property, Plant & Equipment	55,018	55,512	59,536	63,497	69,514	68,625
Long-Term Investments	32,458	32,053	30,937	30,332	26,571	24,160
Goodwill	1,127	1,127	1,127	1,130	1,210	1,210
Other Intangible Assets	1,474	1,467	1,540	1,573	1,864	1,859
Long-Term Deferred Tax Assets	634.04	676.8	865.77	760.55	581.07	373.13
Long-Term Deferred Charges	61.93	64.14	81.11	225.98	204.39	241.63
Other Long-Term Assets	2,006	2,024	1,521	950.8	1,186	1,445
Total Assets	116,393	114,233	117,914	129,611	136,680	132,734
Accounts Payable	13,960	12,213	11,710	16,632	14,298	9,586
Accrued Expenses	765	989.54	976.77	899.44	1,398	1,321
Short-Term Debt	14,597	15,947	17,742	14,494	13,359	15,537
Current Portion of Long-Term Debt	8,341	8,300	10,483	11,297	12,972	4,364
Current Portion of Leases	-	380.52	609.76	897.71	998.12	938.68
Current Income Taxes Payable	418.6	234.32	240.23	245.83	230.15	207.15
Current Unearned Revenue	2,419	2,153	2,030	2,492	2,173	2,169
Other Current Liabilities	3,740	3,484	3,345	8,152	4,340	2,767
Total Current Liabilities	44,241	43,702	47,135	55,110	49,768	36,890
Long-Term Debt	34,130	31,976	29,732	34,041	37,623	44,047
Long-Term Leases	2,825	2,818	3,081	3,913	4,885	4,714
Long-Term Unearned Revenue	431.3	514.14	466.86	473.41	521.1	444.34
Long-Term Deferred Tax Liabilities	154.21	170.96	52.12	55.49	76.01	74.14
Other Long-Term Liabilities	680	660.95	901.79	86.92	91.93	84.79
Total Liabilities	82,460	79,843	81,368	93,680	92,965	86,255
Common Stock	4,503	4,503	4,526	4,546	4,539	4,505
Additional Paid-In Capital	5,249	5,242	5,203	5,974	10,536	10,345
Retained Earnings	10,623	11,532	13,494	13,084	12,923	14,574
Treasury Stock	-42.51	-42.51	-229.02	-927.1	-1,079	-1,189
Comprehensive Income & Other	1,515	966.68	2,664	2,099	2,325	5,304
Total Common Equity	21,847	22,200	25,657	24,776	29,244	33,539
Minority Interest	12,085	12,190	10,888	11,154	14,471	12,941
Shareholders' Equity	33,932	34,390	36,545	35,930	43,715	46,480
Total Liabilities & Equity	116,393	114,233	117,914	129,611	136,680	132,734
Total Debt	59,892	59,422	61,647	64,643	69,838	69,601
Net Cash (Debt)	-51,597	-50,780	-52,943	-53,785	-58,176	-54,711
Net Cash Per Share	-12.17	-11.67	-10.06	-8.63	-14.35	-12.55
Filing Date Shares Outstanding	4,489	2,209	5,262	4,517	4,510	4,463
Total Common Shares Outstanding	4,489	2,209	5,262	4,517	4,510	4,463
Working Capital	-20,627	-22,394	-24,830	-23,968	-14,219	-2,070
Book Value Per Share	4.56	9.78	4.59	5.26	6.22	6.66
Tangible Book Value	19,246	19,606	22,990	22,074	26,170	30,469
Tangible Book Value Per Share	3.98	8.61	4.08	4.66	5.54	5.97
Buildings	-	39,486	35,667	28,766	27,918	25,035
Machinery	-	21,487	19,633	16,954	17,166	16,134
Construction In Progress	-	3,200	8,896	18,091	20,158	19,344

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