TSP Wind Power 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	Dec '22 Dec 31, 2022	Jan '22 Jan 1, 2022
Cash & Equivalents	1,174	2,859	1,109	850.17	1,273	673.85
Short-Term Investments	-	105.18	107.55	129.98	155.28	-
Trading Asset Securities	650.13	20	7.47	16.49	154.57	146.04
Cash & Short-Term Investments	1,824	2,984	1,224	996.64	1,583	819.89
Cash Growth	107.50%	143.83%	22.80%	-37.04%	93.06%	-9.49%
Accounts Receivable	3,221	3,755	3,880	2,978	2,251	2,078
Other Receivables	16.99	26.22	27.58	28.47	33.1	32.61
Receivables	3,238	3,781	3,908	3,006	2,284	2,110
Inventory	1,771	1,859	1,888	1,778	1,803	1,510
Prepaid Expenses	-	0	0	-	0	-
Other Current Assets	444.8	313.37	233.66	201.2	86.07	126.38
Total Current Assets	7,277	8,938	7,253	5,982	5,756	4,566
Property, Plant & Equipment	2,762	2,164	1,483	1,310	1,019	883.36
Long-Term Investments	79.54	24.92	25.32	77.87	5.74	12.9
Goodwill	15.67	15.67	15.67	15.67	15.33	15.33
Other Intangible Assets	317.53	308.18	266.18	248.36	208.52	217.72
Long-Term Deferred Tax Assets	177.52	178.18	171.47	111.53	97.92	68.81
Long-Term Deferred Charges	19.91	22.7	32.55	7.64	0.72	1.21
Other Long-Term Assets	156.6	138.94	166.64	115.57	68.41	40.75
Total Assets	10,806	11,790	9,414	7,869	7,172	5,806
Accounts Payable	2,056	3,247	3,000	2,592	2,170	2,410
Accrued Expenses	28.73	73.77	64.87	62.03	67.72	39.47
Short-Term Debt	536.12	774.87	636.87	91.91	126.05	35.01
Current Portion of Long-Term Debt	243.84	194.53	80.28	10.78	-	-
Current Portion of Leases	-	30.06	25	12.79	27.66	5.1
Current Income Taxes Payable	32.43	23.07	46.11	24.1	23	14.39
Current Unearned Revenue	684.23	612.99	326.96	202.49	284.49	292.57
Other Current Liabilities	143.51	1,403	167.16	64.93	108.89	58.27
Total Current Liabilities	3,725	6,359	4,347	3,061	2,807	2,855
Long-Term Debt	853.46	371.89	252.72	148.87	-	-
Long-Term Leases	179.51	247.38	250.32	262.75	245.11	118.56
Long-Term Unearned Revenue	20.3	21.16	24.62	23.75	27.03	30.28
Long-Term Deferred Tax Liabilities	35.48	37.54	37.66	34.69	33.66	24.35
Other Long-Term Liabilities	70.12	7.52	7.47	-	-	-
Total Liabilities	4,884	7,045	4,920	3,531	3,113	3,028
Common Stock	1,109	934.9	934.9	934.9	934.9	719.15
Additional Paid-In Capital	2,557	1,562	1,562	1,562	1,562	711.78
Retained Earnings	2,121	2,107	1,949	1,813	1,578	1,359
Comprehensive Income & Other	-19.01	-15.7	-17.22	-10.62	-35.73	-32.11
Total Common Equity	5,768	4,588	4,428	4,300	4,039	2,758
Minority Interest	154.58	156.92	65.14	38.75	18.79	19.63
Shareholders' Equity	5,922	4,745	4,493	4,338	4,058	2,778
Total Liabilities & Equity	10,806	11,790	9,414	7,869	7,172	5,806
Total Debt	1,813	1,619	1,245	527.09	398.83	158.66
Net Cash (Debt)	10.84	1,365	-21.34	469.55	1,184	661.23
Net Cash Growth	-	-	-	-60.34%	79.07%	-27.01%
Net Cash Per Share	0.01	1.46	-0.02	0.50	1.40	0.92
Filing Date Shares Outstanding	1,047	1,109	934.9	934.9	934.9	719.15
Total Common Shares Outstanding	1,047	934.9	934.9	934.9	934.9	719.15
Working Capital	3,553	2,579	2,905	2,922	2,949	1,711
Book Value Per Share	5.51	4.91	4.74	4.60	4.32	3.84
Tangible Book Value	5,435	4,264	4,146	4,036	3,816	2,525
Tangible Book Value Per Share	5.19	4.56	4.44	4.32	4.08	3.51
Buildings	-	1,257	1,082	1,029	810.19	791.04
Machinery	-	1,536	874.68	723.63	546.19	512.45
Construction In Progress	-	77.52	84.7	28.98	70.01	35.83

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