Hainan Expressway Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	589.54	279.36	372.73	1,259	1,556	1,269
Short-Term Investments	-	-	-	-	20	100
Trading Asset Securities	96.01	81.29	110.38	90.05	130.35	260.4
Cash & Short-Term Investments	685.56	360.65	483.11	1,349	1,707	1,629
Cash Growth	52.30%	-25.35%	-64.20%	-20.92%	4.74%	5.07%
Accounts Receivable	475.03	460.41	198.12	31.49	39.57	44.51
Other Receivables	145.45	190.06	251.47	82.67	43.7	29.03
Receivables	620.49	650.46	449.59	114.16	83.27	73.55
Inventory	895.63	922.27	998.35	542.39	387.14	380.42
Prepaid Expenses	-	25.41	29.73	41.65	1.31	2.01
Other Current Assets	210.21	128.75	192.38	89.3	13.15	18.54
Total Current Assets	2,412	2,088	2,153	2,137	2,191	2,104
Property, Plant & Equipment	579.08	349.1	384.72	297.6	79.88	82.2
Long-Term Investments	1,795	1,668	1,150	860.58	792.07	797
Goodwill	29.26	29.26	41.82	7.66	7.66	7.66
Other Intangible Assets	103.41	63.47	59.67	95.3	114.1	92.16
Long-Term Deferred Tax Assets	20.99	20.75	15.16	15.85	33.5	29.92
Long-Term Deferred Charges	3.89	2.87	8.67	11.62	12.48	3.27
Other Long-Term Assets	71.51	98.72	58.45	33.63	143.56	33.85
Total Assets	5,015	4,320	3,871	3,459	3,375	3,150

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	373.86	386.21	380.57	132.53	33.53	28.12
Accrued Expenses	22.09	51.52	44.22	115.36	125.59	105.8
Short-Term Debt	0.82	30.03	11.61	0.3	1.08	3.03
Current Portion of Long-Term Debt	87.39	44.96	20	-	-	-
Current Portion of Leases	-	7.67	14.92	9.45	0.63	0.7
Current Income Taxes Payable	23.87	7.89	4.47	1.79	28.34	18.39
Current Unearned Revenue	29.01	15.43	4.52	2.73	5.66	6.58
Other Current Liabilities	474.51	144.1	163.84	107.53	121.29	122.97
Total Current Liabilities	1,012	687.81	644.17	369.68	316.11	285.59
Long-Term Debt	577.07	364.85	135.89	-	-	-
Long-Term Leases	42.67	0.85	11.4	17.55	0.78	0.79
Long-Term Unearned Revenue	1.65	1.8	-	-	-	-
Long-Term Deferred Tax Liabilities	3.68	1.25	4.79	4.85	0.35	0.21
Other Long-Term Liabilities	13.45	7.18	7.18	9.11	27.22	35.38
Total Liabilities	1,650	1,064	803.44	401.19	344.46	321.97

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Common Stock	988.83	988.83	988.83	988.83	988.83	988.83
Additional Paid-In Capital	947.73	961.01	948.21	948.1	957.7	956.32
Retained Earnings	1,332	1,268	1,113	1,121	1,080	879.44
Comprehensive Income & Other	-15.53	-16.84	-18.92	-5.39	-2.23	-
Total Common Equity	3,253	3,201	3,032	3,053	3,024	2,825
Minority Interest	112.28	54.66	36.37	5.29	5.75	3.35
Shareholders' Equity	3,365	3,256	3,068	3,058	3,030	2,828
Total Liabilities & Equity	5,015	4,320	3,871	3,459	3,375	3,150

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	707.96	448.36	193.83	27.3	2.49	4.51
Net Cash (Debt)	-22.4	-87.71	289.28	1,322	1,704	1,625
Net Cash Growth	-	-	-78.12%	-22.41%	4.88%	4.78%
Net Cash Per Share	-0.02	-0.09	0.29	1.34	1.70	1.58
Filing Date Shares Outstanding	999.99	988.83	988.83	988.83	988.83	988.83
Total Common Shares Outstanding	999.99	988.83	988.83	988.83	988.83	988.83
Working Capital	1,400	1,400	1,509	1,767	1,875	1,818
Book Value Per Share	3.25	3.24	3.07	3.09	3.06	2.86
Tangible Book Value	3,120	3,108	2,930	2,950	2,903	2,725
Tangible Book Value Per Share	3.12	3.14	2.96	2.98	2.94	2.76
Buildings	-	168.25	168.25	171.81	171.63	171.25
Machinery	-	243.35	226.68	127.72	124.33	124.33
Construction In Progress	-	180.78	184.13	184.13	-	-