Baiyang Investment Group 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	567.84	408.89	455.14	620.49	317.53	249.55
Trading Asset Securities	-	-	-	-	15	-
Cash & Short-Term Investments	567.84	408.89	455.14	620.49	332.53	249.55
Cash Growth	-21.62%	-10.16%	-26.65%	86.60%	33.25%	-39.52%
Accounts Receivable	576.55	583.4	555.35	519.49	619.32	656.73
Other Receivables	23.43	16.78	7.69	5.99	10.26	46.24
Receivables	599.98	600.19	563.05	525.48	629.58	702.97
Inventory	1,148	1,121	545.29	399.02	478.19	398.28
Prepaid Expenses	-	-	-	-	-	3.47
Other Current Assets	168.37	139.91	127.78	60.05	73.56	27.1
Total Current Assets	2,485	2,270	1,691	1,605	1,514	1,381
Property, Plant & Equipment	936.68	954.64	816.7	808.11	820.89	806.34
Long-Term Investments	225.4	225.48	230.24	230.18	230	232.64
Goodwill	34.84	34.84	34.32	34.32	34.32	34.32
Other Intangible Assets	141.06	142.08	139.18	141.47	145.69	149.82
Long-Term Deferred Tax Assets	94.73	93.48	74.11	73.39	60.27	49.73
Long-Term Deferred Charges	3.01	3.19	0.54	1.88	3.19	1.48
Other Long-Term Assets	85.68	77.47	81.47	79.59	82.22	79.14
Total Assets	4,006	3,801	3,068	2,974	2,890	2,735
Accounts Payable	274.6	405.76	266.25	189.11	225.65	192.89
Accrued Expenses	29.78	58.34	53.67	48.8	49.85	40.14
Short-Term Debt	1,034	633.8	621.39	530.43	301.91	409.81
Current Portion of Long-Term Debt	431	250.05	55.9	43.68	300.65	120.03
Current Portion of Leases	-	-	3.6	2.01	1.7	1.79
Current Income Taxes Payable	21.25	16.4	1.82	0.67	3.67	5.57
Current Unearned Revenue	112.35	95.53	66.72	47.11	54.61	63.02
Other Current Liabilities	46.24	50.49	16.77	16.35	228.3	31.9
Total Current Liabilities	1,949	1,510	1,086	878.15	1,166	865.15
Long-Term Debt	104.2	295.4	457.2	509.12	114.3	367
Long-Term Leases	38.95	39.29	35.38	24.53	22.45	24.21
Long-Term Unearned Revenue	60.26	62.13	57.26	64.32	68.05	29.05
Long-Term Deferred Tax Liabilities	11.12	11.25	6.81	5.22	3.32	1.08
Other Long-Term Liabilities	372.97	397	-	-	-	-
Total Liabilities	2,537	2,315	1,643	1,481	1,374	1,286
Common Stock	346.36	346.36	346.36	346.36	349.39	349.39
Additional Paid-In Capital	794.78	791.02	803.26	811.81	826.99	826.99
Retained Earnings	255.28	274.49	233.86	249.11	276.71	214.37
Treasury Stock	-26.58	-25.48	-45.79	-	-18.2	-18.2
Comprehensive Income & Other	-9.75	-9.12	-7.41	-7.41	-7.41	-7.41
Total Common Equity	1,360	1,377	1,330	1,400	1,427	1,365
Minority Interest	109.05	108.69	94.77	92.75	88.48	83.22
Shareholders' Equity	1,469	1,486	1,425	1,493	1,516	1,448
Total Liabilities & Equity	4,006	3,801	3,068	2,974	2,890	2,735
Total Debt	1,608	1,219	1,173	1,110	741.02	922.83
Net Cash (Debt)	-1,040	-809.65	-718.33	-489.27	-408.5	-673.28
Net Cash Per Share	-3.00	-2.34	-1.88	-1.42	-1.18	-2.01
Filing Date Shares Outstanding	346.11	301.71	336.48	346.36	346.36	346.36
Total Common Shares Outstanding	346.11	301.71	336.48	346.36	346.36	346.36
Working Capital	535.23	759.85	605.14	726.88	347.5	516.22
Book Value Per Share	3.93	4.56	3.95	4.04	4.12	3.94
Tangible Book Value	1,184	1,200	1,157	1,224	1,247	1,181
Tangible Book Value Per Share	3.42	3.98	3.44	3.53	3.60	3.41
Buildings	-	-	661	662.19	590.92	590.68
Machinery	-	-	884.19	840.76	779.78	766.34
Construction In Progress	-	-	88.28	45.26	104.85	14.7

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