Gansu Golden Solar 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	48.28	56.39	73.54	71.19	369.21	141.89
Cash & Short-Term Investments	48.28	56.39	73.54	71.19	369.21	141.89
Cash Growth	-60.58%	-23.32%	3.31%	-80.72%	160.21%	964.42%
Accounts Receivable	40.31	39.55	28.03	45.34	36.1	291.34
Other Receivables	11.65	5.32	8.82	6.94	220.94	30.55
Receivables	51.96	44.87	36.85	52.28	257.05	321.89
Inventory	10.83	29.41	60.78	123.66	135.86	151.71
Prepaid Expenses	-	0	0	0.03	0.67	-
Other Current Assets	196.39	199.32	107.11	59.04	64.35	262.72
Total Current Assets	307.46	329.99	278.29	306.2	827.14	878.21
Property, Plant & Equipment	2,449	2,280	2,317	2,416	1,497	911.29
Long-Term Investments	-	-	-	-	1	1
Other Intangible Assets	90.25	41.79	42.82	55.62	57.19	58.86
Long-Term Deferred Tax Assets	56.75	56.75	2.93	79.68	51.6	19.54
Long-Term Deferred Charges	1.81	2.14	4.18	5.36	3.28	0.59
Other Long-Term Assets	55.57	58.07	61.56	48.06	38.53	10.24
Total Assets	2,969	2,769	2,707	2,911	2,476	1,880
Accounts Payable	416.75	212.01	841.51	621.05	653.68	356
Accrued Expenses	7.71	33.37	73.38	20.13	25.2	28.07
Short-Term Debt	-	310.66	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	1.82	-	0.84	0.14	3.19	1.38
Current Unearned Revenue	10.82	16.73	49.51	17.53	90.17	4.08
Other Current Liabilities	409.61	22.12	147.53	60.01	19.3	27.66
Total Current Liabilities	846.7	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	37.64	39.31	47.86	47.8	42.59	42.35
Long-Term Deferred Tax Liabilities	70.64	70.37	3.23	64.49	35.54	0.61
Other Long-Term Liabilities	71.5	61.16	69.68	63.63	58.77	70.54
Total Liabilities	1,026	765.73	3,505	2,882	2,407	1,572
Common Stock	540	540	216	216	216	216
Additional Paid-In Capital	3,182	3,182	729.8	753.19	386.83	386.83
Retained Earnings	-1,589	-1,525	-1,728	-932.83	-570.15	-295.19
Treasury Stock	-181.2	-181.2	-	-	-	-
Comprehensive Income & Other	-6.14	-9.34	-13.08	-9.9	-7.85	2.62
Total Common Equity	1,946	2,006	-795.36	26.47	24.83	310.26
Minority Interest	-2.68	-2.75	-2.82	2.35	44.64	-2.93
Shareholders' Equity	1,943	2,003	-798.18	28.82	69.47	307.33
Total Liabilities & Equity	2,969	2,769	2,707	2,911	2,476	1,880
Total Debt	-	310.66	2,272	1,987	1,478	1,042
Net Cash (Debt)	48.28	-254.27	-2,198	-1,916	-1,109	-899.82
Net Cash Per Share	0.15	-1.05	-10.17	-8.87	-5.13	-4.17
Filing Date Shares Outstanding	540.07	318.99	216	216	216	216
Total Common Shares Outstanding	540.07	318.99	216	216	216	216
Working Capital	-539.24	-264.89	-2,589	-1,487	-720.74	-214.49
Book Value Per Share	3.60	6.29	-3.68	0.12	0.11	1.44
Tangible Book Value	1,847	1,964	-838.18	-29.15	-32.36	251.4
Tangible Book Value Per Share	3.42	6.16	-3.88	-0.13	-0.15	1.16
Buildings	-	1,064	1,018	946.73	438.44	297.33
Machinery	-	1,528	1,440	830.26	636.52	256.56
Construction In Progress	-	128.91	138.54	541.76	434.41	610.24

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