Sungrow Power Supply 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	30,043	22,831	19,799	18,031	11,667	7,790
Short-Term Investments	-	10.76	-	-	-	-
Trading Asset Securities	3,869	10,998	10,165	2,072	1,490	3,813
Cash & Short-Term Investments	33,911	33,840	29,964	20,103	13,157	11,603
Cash Growth	9.33%	12.93%	49.06%	52.79%	13.39%	43.42%
Accounts Receivable	27,735	28,210	31,322	24,626	17,274	11,660
Other Receivables	1,717	1,901	1,858	1,439	1,172	1,022
Receivables	29,452	30,111	33,180	26,066	18,446	12,682
Inventory	27,758	27,255	29,028	21,442	19,060	10,768
Prepaid Expenses	-	332.73	136.75	92.19	38.93	52.13
Other Current Assets	6,732	3,889	2,840	1,582	1,292	1,203
Total Current Assets	97,853	95,428	95,149	69,284	51,994	36,307
Property, Plant & Equipment	14,436	14,099	11,614	8,521	6,292	5,015
Long-Term Investments	2,179	1,722	1,489	940.06	531.96	155.17
Goodwill	296.98	296.98	296.98	-	-	-
Other Intangible Assets	1,276	1,231	1,122	732.42	340.37	174.39
Long-Term Accounts Receivable	259.5	1,911	1,778	968.03	855.8	466.37
Long-Term Deferred Tax Assets	3,257	3,193	2,951	2,071	1,026	638.43
Long-Term Deferred Charges	166.65	176.42	119.32	89.18	98.76	23.7
Other Long-Term Assets	2,140	621.13	552.84	270.16	488.91	59.96
Total Assets	121,864	118,679	115,074	82,877	61,627	42,840
Accounts Payable	36,018	36,636	36,757	28,486	25,926	17,765
Accrued Expenses	1,834	3,436	2,777	1,874	1,133	573.1
Short-Term Debt	2,279	2,422	4,214	2,793	1,422	1,599
Current Portion of Long-Term Debt	-	288.05	1,241	1,261	732.33	159.3
Current Portion of Leases	-	62.08	59.66	81.18	77.55	46.08
Current Income Taxes Payable	1,133	829.89	1,523	2,185	399.03	186.8
Current Unearned Revenue	12,205	10,656	10,027	6,565	3,788	1,714
Other Current Liabilities	5,612	2,898	3,699	2,692	1,990	1,465
Total Current Liabilities	59,081	57,228	60,298	45,937	35,469	23,507
Long-Term Debt	3,083	3,113	4,913	4,206	4,214	1,948
Long-Term Leases	383.44	1,306	3,742	489.21	974.41	283.79
Long-Term Unearned Revenue	302.79	313.54	371.21	168.76	166.8	141.48
Long-Term Deferred Tax Liabilities	82.49	83.16	82.33	12.61	13.4	14.13
Other Long-Term Liabilities	7,157	6,865	5,469	2,608	1,052	242.1
Total Liabilities	70,090	68,908	74,875	53,422	41,889	26,136
Common Stock	2,073	2,073	2,073	1,485	1,485	1,485
Additional Paid-In Capital	7,330	7,265	7,013	7,606	7,053	6,960
Retained Earnings	40,998	38,707	29,412	19,795	10,680	7,250
Treasury Stock	-1,617	-1,617	-1,771	-1,381	-520.75	-15.13
Comprehensive Income & Other	-124.05	183.38	177.89	200.22	-30.52	-24.22
Total Common Equity	48,661	46,611	36,905	27,705	18,667	15,655
Minority Interest	3,113	3,161	3,294	1,749	1,071	1,049
Shareholders' Equity	51,774	49,772	40,199	29,454	19,738	16,704
Total Liabilities & Equity	121,864	118,679	115,074	82,877	61,627	42,840
Total Debt	5,745	7,191	14,170	8,830	7,421	4,035
Net Cash (Debt)	28,166	26,649	15,795	11,272	5,736	7,568
Net Cash Growth	82.48%	68.72%	40.12%	96.51%	-24.20%	29.28%
Net Cash Per Share	13.67	12.93	7.61	5.43	2.76	3.69
Filing Date Shares Outstanding	2,053	2,053	2,047	2,056	2,070	2,079
Total Common Shares Outstanding	2,053	2,053	2,047	2,056	2,070	2,079
Working Capital	38,772	38,201	34,851	23,347	16,525	12,800
Book Value Per Share	23.70	22.71	18.03	13.47	9.02	7.53
Tangible Book Value	47,088	45,083	35,486	26,973	18,327	15,481
Tangible Book Value Per Share	22.94	21.96	17.33	13.12	8.85	7.45
Buildings	-	5,155	3,661	2,075	1,203	1,172
Machinery	-	9,135	7,942	6,186	4,820	4,226
Construction In Progress	-	2,843	2,265	1,686	1,189	424.31

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