Beijing Jingneng Thermal 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	Dec '21 Dec 31, 2021
Cash & Equivalents	485.33	901.09	935.66	820.09	294.55	203.76
Accounts Receivable	807.11	654.37	342.19	337.4	298.02	263.6
Other Receivables	100.47	110.85	113.39	145.41	160.38	54.44
Inventory	24.45	43.11	75.29	40.57	69.39	61.29
Prepaid Expenses	-	-	-	-	1.41	-
Other Current Assets	51.1	44.59	25.23	30.81	96.11	108.01
Total Current Assets	1,468	1,754	1,492	1,374	919.86	691.11
Property, Plant & Equipment	698.03	641.67	667.72	730.38	797.46	848.64
Goodwill	36.76	36.76	36.76	36.76	36.76	37.53
Other Intangible Assets	329.7	320.89	38.52	42.16	40.43	43.87
Long-Term Investments	1.92	1.92	-	-	-	93.7
Long-Term Deferred Tax Assets	76.48	76.16	46.5	38.02	40	43.34
Long-Term Deferred Charges	164.72	169.96	135.9	157.92	187.08	225.66
Other Long-Term Assets	39.01	38.41	39.33	36.77	50.61	76.56
Total Assets	2,815	3,040	2,456	2,416	2,072	2,060
Accounts Payable	499.42	496.71	170.07	242.25	208.64	149.34
Accrued Expenses	35.2	28.37	34.34	40.82	31.62	28.97
Short-Term Debt	251.33	266.2	220.16	300.23	509.38	339.96
Current Portion of Long-Term Debt	106.32	106.94	0.07	0.08	-	131.21
Current Unearned Revenue	16.45	463.81	467.92	445.7	408.54	416
Current Portion of Leases	-	-	2.44	2.31	1.31	2.24
Current Income Taxes Payable	58.62	41.28	16.02	7.25	0.03	1.37
Other Current Liabilities	24.04	27.94	148.75	16.09	118.84	50.26
Total Current Liabilities	991.38	1,431	1,060	1,055	1,278	1,119
Long-Term Debt	77	53	100	100	-	149.03
Long-Term Leases	5.77	5.7	6.78	9.25	1.6	2.87
Long-Term Unearned Revenue	52	50.39	40.38	53.85	68.52	91.28
Long-Term Deferred Tax Liabilities	55.88	57.05	50.96	54.78	54.26	59.2
Other Long-Term Liabilities	8.95	10.88	7.5	0.78	-	-
Total Liabilities	1,191	1,608	1,265	1,273	1,403	1,422
Common Stock	263.64	263.64	263.64	263.64	202.8	202.8
Additional Paid-In Capital	501.18	501.18	501.18	501.18	140.9	140.9
Retained Earnings	642.29	455.88	416.85	371.17	319.84	289.06
Total Common Equity	1,407	1,221	1,182	1,136	663.54	632.77
Minority Interest	216.98	210.78	9.44	6.92	5.92	5.9
Shareholders' Equity	1,624	1,431	1,191	1,143	669.46	638.66
Total Liabilities & Equity	2,815	3,040	2,456	2,416	2,072	2,060
Total Debt	440.41	431.83	329.44	411.86	512.29	625.32
Net Cash (Debt)	44.91	469.26	606.22	408.23	-217.74	-421.56
Net Cash Growth	-85.02%	-22.59%	48.50%	-	-	-
Net Cash Per Share	0.17	1.81	2.27	1.94	-1.06	-2.16
Filing Date Shares Outstanding	263.97	249.27	263.64	263.64	202.8	202.8
Total Common Shares Outstanding	263.97	249.27	263.64	263.64	202.8	202.8
Working Capital	477.07	322.74	432	319.55	-358.51	-428.26
Book Value Per Share	5.33	4.90	4.48	4.31	3.27	3.12
Tangible Book Value	1,041	863.05	1,106	1,057	586.35	551.36
Tangible Book Value Per Share	3.94	3.46	4.20	4.01	2.89	2.72
Buildings	-	-	411.63	411.73	411.73	409.25
Machinery	-	-	955.16	941.71	933.54	936.02
Construction In Progress	-	-	59.74	66.18	70.37	45.47

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