Zhejiang Hailiang 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	4,369	5,971	6,436	7,721	5,096	4,703
Trading Asset Securities	349.09	69.51	153.92	31.35	18.4	89.1
Cash & Short-Term Investments	4,718	6,040	6,590	7,753	5,114	4,792
Cash Growth	-16.54%	-8.34%	-15.00%	51.59%	6.73%	3.00%
Accounts Receivable	13,835	10,331	9,532	6,742	5,685	6,704
Other Receivables	1,046	407.74	288.57	160.09	202.14	265
Receivables	14,881	10,739	9,820	6,902	5,888	6,969
Inventory	12,210	11,792	8,755	7,087	6,858	7,780
Prepaid Expenses	-	535.41	467.32	343.61	351.98	254.99
Other Current Assets	3,553	2,053	1,217	1,239	1,107	1,308
Total Current Assets	35,362	31,159	26,849	23,324	19,319	21,103
Property, Plant & Equipment	11,274	11,241	11,233	10,603	7,762	5,121
Long-Term Investments	2,143	2,124	3,164	2,974	2,862	2,754
Goodwill	232.21	229.5	268.87	326.12	345.16	345.16
Other Intangible Assets	1,206	1,219	1,092	895.77	894.52	747.31
Long-Term Deferred Tax Assets	655.92	608.24	495.14	302.26	332.43	306.63
Long-Term Deferred Charges	3.04	2.59	0.57	0.61	13.82	9.22
Other Long-Term Assets	638.65	819.32	469.12	863.38	976.76	821.66
Total Assets	52,190	48,128	44,480	40,405	33,486	32,099
Accounts Payable	2,248	2,754	3,104	3,115	4,221	6,822
Accrued Expenses	236	501.29	468.51	502.24	543.7	433.46
Short-Term Debt	16,058	13,025	11,465	8,227	5,401	5,901
Current Portion of Long-Term Debt	3,326	2,906	5,873	1,876	2,117	1,080
Current Portion of Leases	-	33.49	32.71	33.46	18.24	34.69
Current Income Taxes Payable	348.84	189.46	171.89	184.54	217.13	163.8
Current Unearned Revenue	1,286	685.41	473.1	417.34	422.6	559.94
Other Current Liabilities	1,295	1,213	445.92	412.97	473.08	361.24
Total Current Liabilities	24,797	21,307	22,035	14,768	13,414	15,357
Long-Term Debt	6,975	6,651	4,856	8,189	6,142	4,428
Long-Term Leases	42.64	46.67	33.07	59.33	64.97	174.14
Long-Term Unearned Revenue	354.48	363.17	273.26	241.85	161.37	59.14
Pension & Post-Retirement Benefits	110.98	112.72	114.72	121.83	96.66	138.5
Long-Term Deferred Tax Liabilities	193.93	239.39	220.59	186.62	224.14	225.83
Other Long-Term Liabilities	-	-	-	-	5.98	-
Total Liabilities	32,474	28,720	27,532	23,566	20,109	20,383
Common Stock	2,292	2,292	1,998	1,998	1,983	1,967
Additional Paid-In Capital	6,003	6,003	3,024	3,024	2,748	2,487
Retained Earnings	9,666	9,230	8,685	8,322	7,363	6,302
Treasury Stock	-750.08	-750.08	-253.52	-	-	-
Comprehensive Income & Other	-151.91	40.61	912.63	733.81	625.78	303.09
Total Common Equity	17,059	16,815	14,366	14,077	12,720	11,059
Minority Interest	2,657	2,593	2,581	2,761	657.17	657.16
Shareholders' Equity	19,716	19,408	16,948	16,839	13,377	11,716
Total Liabilities & Equity	52,190	48,128	44,480	40,405	33,486	32,099
Total Debt	26,402	22,662	22,260	18,384	13,744	11,619
Net Cash (Debt)	-21,684	-16,622	-15,670	-10,631	-8,629	-6,827
Net Cash Per Share	-10.40	-8.11	-7.80	-4.85	-4.29	-3.21
Filing Date Shares Outstanding	2,211	2,211	1,918	1,998	1,983	1,967
Total Common Shares Outstanding	2,211	2,211	1,966	1,998	1,983	1,967
Working Capital	10,565	9,852	4,815	8,556	5,905	5,746
Book Value Per Share	7.71	7.60	7.31	7.04	6.41	5.62
Tangible Book Value	15,620	15,367	13,006	12,856	11,480	9,967
Tangible Book Value Per Share	7.06	6.95	6.61	6.43	5.79	5.07
Buildings	-	4,191	3,924	2,969	1,883	1,463
Machinery	-	8,783	8,240	6,393	3,670	3,339
Construction In Progress	-	1,599	1,517	3,107	3,961	1,712

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