Gansu Golden Solar 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	56.39	73.54	71.19	369.21	141.89
Cash & Short-Term Investments	56.39	73.54	71.19	369.21	141.89
Cash Growth	-23.32%	3.31%	-80.72%	160.21%	964.42%
Accounts Receivable	39.55	28.03	45.34	36.1	291.34
Other Receivables	5.32	8.82	6.94	220.94	30.55
Receivables	44.87	36.85	52.28	257.05	321.89
Inventory	29.41	60.78	123.66	135.86	151.71
Prepaid Expenses	-	0	0.03	0.67	-
Other Current Assets	199.32	107.11	59.04	64.35	262.72
Total Current Assets	329.99	278.29	306.2	827.14	878.21
Property, Plant & Equipment	2,280	2,317	2,416	1,497	911.29
Long-Term Investments	-	-	-	1	1
Other Intangible Assets	41.79	42.82	55.62	57.19	58.86
Long-Term Deferred Tax Assets	56.75	2.93	79.68	51.6	19.54
Long-Term Deferred Charges	2.14	4.18	5.36	3.28	0.59
Other Long-Term Assets	58.07	61.56	48.06	38.53	10.24
Total Assets	2,769	2,707	2,911	2,476	1,880
Accounts Payable	212.01	841.51	621.05	653.68	356
Accrued Expenses	10.31	73.38	20.13	25.2	28.07
Short-Term Debt	-	1,659	805.76	665.03	673.9
Current Portion of Long-Term Debt	-	94.8	148.06	65.76	1.61
Current Portion of Leases	-	1.3	120.55	25.55	-
Current Income Taxes Payable	3.02	0.84	0.14	3.19	1.38
Current Unearned Revenue	16.73	49.51	17.53	90.17	4.08
Other Current Liabilities	352.83	147.53	60.01	19.3	27.66
Total Current Liabilities	594.89	2,868	1,793	1,548	1,093
Long-Term Debt	-	506.32	771.63	549.78	214.48
Long-Term Leases	-	10.42	141.08	171.98	151.73
Long-Term Unearned Revenue	18.72	47.86	47.8	42.59	42.35
Long-Term Deferred Tax Liabilities	70.37	3.23	64.49	35.54	0.61
Other Long-Term Liabilities	81.75	69.68	63.63	58.77	70.54
Total Liabilities	765.73	3,505	2,882	2,407	1,572
Common Stock	540	216	216	216	216
Additional Paid-In Capital	3,182	729.8	753.19	386.83	386.83
Retained Earnings	-1,525	-1,728	-932.83	-570.15	-295.19
Treasury Stock	-181.2	-	-	-	-
Comprehensive Income & Other	-9.34	-13.08	-9.9	-7.85	2.62
Total Common Equity	2,006	-795.36	26.47	24.83	310.26
Minority Interest	-2.75	-2.82	2.35	44.64	-2.93
Shareholders' Equity	2,003	-798.18	28.82	69.47	307.33
Total Liabilities & Equity	2,769	2,707	2,911	2,476	1,880
Total Debt	-	2,272	1,987	1,478	1,042
Net Cash (Debt)	56.39	-2,198	-1,916	-1,109	-899.82
Net Cash Per Share	0.23	-10.18	-8.87	-5.13	-4.17
Filing Date Shares Outstanding	318.99	216	216	216	216
Total Common Shares Outstanding	318.99	216	216	216	216
Working Capital	-264.89	-2,589	-1,487	-720.74	-214.49
Book Value Per Share	6.29	-3.68	0.12	0.11	1.44
Tangible Book Value	1,964	-838.18	-29.15	-32.36	251.4
Tangible Book Value Per Share	6.16	-3.88	-0.13	-0.15	1.16
Buildings	-	1,018	946.73	438.44	297.33
Machinery	-	1,440	830.26	636.52	256.56
Construction In Progress	-	138.54	541.76	434.41	610.24

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.