Hainan Expressway Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	279.36	372.73	1,259	1,556	1,269
Short-Term Investments	-	-	-	20	100
Trading Asset Securities	81.29	110.38	90.05	130.35	260.4
Cash & Short-Term Investments	360.65	483.11	1,349	1,707	1,629
Cash Growth	-25.35%	-64.20%	-20.92%	4.74%	5.07%
Accounts Receivable	460.41	198.12	31.49	39.57	44.51
Other Receivables	164.11	251.47	82.67	43.7	29.03
Receivables	624.51	449.59	114.16	83.27	73.55
Inventory	922.27	998.35	542.39	387.14	380.42
Prepaid Expenses	-	29.73	41.65	1.31	2.01
Other Current Assets	180.11	192.38	89.3	13.15	18.54
Total Current Assets	2,088	2,153	2,137	2,191	2,104
Property, Plant & Equipment	349.1	384.72	297.6	79.88	82.2
Long-Term Investments	1,668	1,150	860.58	792.07	797
Goodwill	29.26	41.82	7.66	7.66	7.66
Other Intangible Assets	63.47	59.67	95.3	114.1	92.16
Long-Term Deferred Tax Assets	20.75	15.16	15.85	33.5	29.92
Long-Term Deferred Charges	2.87	8.67	11.62	12.48	3.27
Other Long-Term Assets	98.72	58.45	33.63	143.56	33.85
Total Assets	4,320	3,871	3,459	3,375	3,150
Accounts Payable	386.21	380.57	132.53	33.53	28.12
Accrued Expenses	29.7	44.22	115.36	125.59	105.8
Short-Term Debt	30.03	11.61	0.3	1.08	3.03
Current Portion of Long-Term Debt	52.64	20	-	-	-
Current Portion of Leases	-	14.92	9.45	0.63	0.7
Current Income Taxes Payable	29.77	4.47	1.79	28.34	18.39
Current Unearned Revenue	14.51	4.52	2.73	5.66	6.58
Other Current Liabilities	144.96	163.84	107.53	121.29	122.97
Total Current Liabilities	687.81	644.17	369.68	316.11	285.59
Long-Term Debt	364.85	135.89	-	-	-
Long-Term Leases	0.85	11.4	17.55	0.78	0.79
Long-Term Unearned Revenue	1.8	-	-	-	-
Long-Term Deferred Tax Liabilities	1.25	4.79	4.85	0.35	0.21
Other Long-Term Liabilities	7.18	7.18	9.11	27.22	35.38
Total Liabilities	1,064	803.44	401.19	344.46	321.97
Common Stock	988.83	988.83	988.83	988.83	988.83
Additional Paid-In Capital	961.01	948.21	948.1	957.7	956.32
Retained Earnings	1,268	1,113	1,121	1,080	879.44
Comprehensive Income & Other	-16.84	-18.92	-5.39	-2.23	-
Total Common Equity	3,201	3,032	3,053	3,024	2,825
Minority Interest	54.66	36.37	5.29	5.75	3.35
Shareholders' Equity	3,256	3,068	3,058	3,030	2,828
Total Liabilities & Equity	4,320	3,871	3,459	3,375	3,150
Total Debt	448.36	193.83	27.3	2.49	4.51
Net Cash (Debt)	-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	-0.09	0.29	1.34	1.70	1.58
Filing Date Shares Outstanding	1,066	988.83	988.83	988.83	988.83
Total Common Shares Outstanding	1,066	988.83	988.83	988.83	988.83
Working Capital	1,400	1,509	1,767	1,875	1,818
Book Value Per Share	3.00	3.07	3.09	3.06	2.86
Tangible Book Value	3,108	2,930	2,950	2,903	2,725
Tangible Book Value Per Share	2.92	2.96	2.98	2.94	2.76
Buildings	-	-	171.81	171.63	171.25
Machinery	-	-	127.72	124.33	124.33
Construction In Progress	-	-	184.13	-	-

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