Willing New Energy 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	74.43	110.52	133.78	674	255.99
Short-Term Investments	-	8.47	-	-	-
Cash & Short-Term Investments	74.43	118.99	133.78	674	255.99
Cash Growth	-37.45%	-11.05%	-80.15%	163.29%	-33.12%
Accounts Receivable	30.85	55.59	168.94	291.82	160.82
Other Receivables	30.4	39.77	63.99	42.69	61.21
Receivables	61.25	95.36	232.92	334.51	222.02
Inventory	52.66	46.87	121	452.3	179.33
Other Current Assets	70.48	212.86	77.8	101.66	59.49
Total Current Assets	258.82	474.09	565.51	1,562	716.83
Property, Plant & Equipment	786.09	805.88	837.79	598.42	99.97
Long-Term Investments	165.7	176.8	134.92	154.47	70.81
Goodwill	141.88	128.85	173.94	173.94	-
Other Intangible Assets	290.74	64.69	68.18	69.7	32.58
Long-Term Deferred Tax Assets	2.93	0.4	3.66	27.88	27.01
Long-Term Deferred Charges	9.96	0.33	0.65	0.72	1.17
Other Long-Term Assets	14.35	13.02	233.7	21.41	1.39
Total Assets	1,670	1,664	2,018	2,609	949.76
Accounts Payable	197.05	294.36	257.95	150.28	12.78
Accrued Expenses	35.39	12.1	11.87	26.17	13.65
Short-Term Debt	215.01	186.81	193.78	495.48	58.1
Current Portion of Long-Term Debt	-	93.47	39.84	50.05	-
Current Portion of Leases	-	1.41	4.51	3.53	4.84
Current Income Taxes Payable	-	0.02	1.98	44.42	0.02
Current Unearned Revenue	25.71	41.55	30.41	161.47	108.77
Other Current Liabilities	610.71	116.27	109.26	221.52	23.17
Total Current Liabilities	1,084	746.01	649.59	1,153	221.33
Long-Term Debt	215.96	169.82	244.73	166.21	-
Long-Term Leases	10.25	1.28	8.53	1.94	1.09
Long-Term Unearned Revenue	5.73	5.89	6.04	11.62	11.79
Long-Term Deferred Tax Liabilities	74.33	4.69	7.15	6.17	0.02
Other Long-Term Liabilities	125.04	-	-	3.21	5.13
Total Liabilities	1,515	927.68	916.04	1,342	239.36
Common Stock	260.59	242.37	242.46	243.22	231.13
Additional Paid-In Capital	546.58	437.45	438.28	407.46	235.68
Retained Earnings	-648.79	-234.25	73.68	296.89	213.61
Treasury Stock	-188.63	-77.48	-78.73	-166.24	-
Comprehensive Income & Other	-1.81	-2.62	0	2.27	1.04
Total Common Equity	-32.05	365.47	675.69	783.61	681.45
Minority Interest	187.36	370.9	426.61	483.33	28.94
Shareholders' Equity	155.31	736.37	1,102	1,267	710.4
Total Liabilities & Equity	1,670	1,664	2,018	2,609	949.76
Total Debt	441.22	452.79	491.39	717.21	64.04
Net Cash (Debt)	-366.79	-333.8	-357.61	-43.21	191.95
Net Cash Growth	-	-	-	-	-49.35%
Net Cash Per Share	-1.50	-1.41	-1.55	-0.18	0.84
Filing Date Shares Outstanding	270.75	242.37	242.46	243.22	231.13
Total Common Shares Outstanding	270.75	242.37	242.46	243.22	231.13
Working Capital	-825.05	-271.92	-84.08	409.55	495.5
Book Value Per Share	-0.12	1.51	2.79	3.22	2.95
Tangible Book Value	-464.67	171.94	433.57	539.97	648.87
Tangible Book Value Per Share	-1.72	0.71	1.79	2.22	2.81
Buildings	-	495.79	486.1	441.36	94.45
Machinery	-	274.56	236.62	339.02	137.53
Construction In Progress	-	196.87	212.16	14.68	0.5

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