Hainan Expressway 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	301.46	279.36	372.73	1,259	1,556	1,269
Short-Term Investments	-	-	-	-	20	100
Trading Asset Securities	81.29	81.29	110.38	90.05	130.35	260.4
Cash & Short-Term Investments	382.75	360.65	483.11	1,349	1,707	1,629
Cash Growth	-19.34%	-25.35%	-64.20%	-20.92%	4.74%	5.07%
Accounts Receivable	363.03	460.41	198.12	31.49	39.57	44.51
Other Receivables	160.13	190.06	251.47	82.67	43.7	29.03
Receivables	523.17	650.46	449.59	114.16	83.27	73.55
Inventory	898.78	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	194.04	128.75	192.38	89.3	13.15	18.54
Total Current Assets	1,999	2,088	2,153	2,137	2,191	2,104
Property, Plant & Equipment	476.66	349.1	384.72	297.6	79.88	82.2
Long-Term Investments	1,657	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	90.69	63.47	59.67	95.3	114.1	92.16
Long-Term Deferred Tax Assets	20.75	20.75	15.16	15.85	33.5	29.92
Long-Term Deferred Charges	2.88	2.87	8.67	11.62	12.48	3.27
Other Long-Term Assets	116.34	98.72	58.45	33.63	143.56	33.85
Total Assets	4,392	4,320	3,871	3,459	3,375	3,150
Accounts Payable	338.16	386.21	380.57	132.53	33.53	28.12
Accrued Expenses	21.41	51.52	44.22	115.36	125.59	105.8
Short-Term Debt	15	30.03	11.61	0.3	1.08	3.03
Current Portion of Long-Term Debt	68.76	44.96	20	-	-	-
Current Portion of Leases	-	7.67	14.92	9.45	0.63	0.7
Current Income Taxes Payable	16.72	7.89	4.47	1.79	28.34	18.39
Current Unearned Revenue	39.3	15.43	4.52	2.73	5.66	6.58
Other Current Liabilities	152.84	144.1	163.84	107.53	121.29	122.97
Total Current Liabilities	652.2	687.81	644.17	369.68	316.11	285.59
Long-Term Debt	479.86	364.85	135.89	-	-	-
Long-Term Leases	0.32	0.85	11.4	17.55	0.78	0.79
Long-Term Unearned Revenue	1.72	1.8	-	-	-	-
Long-Term Deferred Tax Liabilities	1.1	1.25	4.79	4.85	0.35	0.21
Other Long-Term Liabilities	7.18	7.18	7.18	9.11	27.22	35.38
Total Liabilities	1,142	1,064	803.44	401.19	344.46	321.97
Common Stock	988.83	988.83	988.83	988.83	988.83	988.83
Additional Paid-In Capital	960.8	961.01	948.21	948.1	957.7	956.32
Retained Earnings	1,244	1,268	1,113	1,121	1,080	879.44
Comprehensive Income & Other	-16.84	-16.84	-18.92	-5.39	-2.23	-
Total Common Equity	3,177	3,201	3,032	3,053	3,024	2,825
Minority Interest	72.71	54.66	36.37	5.29	5.75	3.35
Shareholders' Equity	3,250	3,256	3,068	3,058	3,030	2,828
Total Liabilities & Equity	4,392	4,320	3,871	3,459	3,375	3,150
Total Debt	563.93	448.36	193.83	27.3	2.49	4.51
Net Cash (Debt)	-181.18	-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	-0.18	-0.09	0.29	1.34	1.70	1.58
Filing Date Shares Outstanding	988.83	988.83	988.83	988.83	988.83	988.83
Total Common Shares Outstanding	988.83	988.83	988.83	988.83	988.83	988.83
Working Capital	1,347	1,400	1,509	1,767	1,875	1,818
Book Value Per Share	3.21	3.24	3.07	3.09	3.06	2.86
Tangible Book Value	3,057	3,108	2,930	2,950	2,903	2,725
Tangible Book Value Per Share	3.09	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	-	-

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