Top Resource Energy Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	901.21	1,108	1,448	1,742	924.29	1,322
Trading Asset Securities	-	-	84.96	-	-	-
Accounts Receivable	398.96	435.67	830.1	901.03	1,100	1,073
Other Receivables	137.96	133.02	85.58	127.88	169.48	269.87
Inventory	88.58	74.06	153.58	115	114.23	76.19
Prepaid Expenses	-	-	-	-	0.6	0.64
Other Current Assets	217.26	226.43	312.23	209.2	185.66	1,082
Total Current Assets	1,744	1,977	2,914	3,095	2,495	3,823
Property, Plant & Equipment	2,492	2,514	2,670	2,473	2,196	2,028
Goodwill	974.86	974.86	1,024	1,144	1,048	1,077
Other Intangible Assets	1,241	1,284	1,350	1,421	1,463	1,013
Long-Term Investments	1,136	1,080	1,081	818.47	681.71	299.86
Long-Term Deferred Tax Assets	242.68	238.35	178.32	160.89	167.15	104.65
Long-Term Deferred Charges	63.3	66.42	68.35	58.32	76.97	45.7
Other Long-Term Assets	122.84	130.32	-159.41	122.72	149.69	94.94
Total Assets	8,017	8,266	9,127	9,294	8,277	8,486
Accounts Payable	1,368	1,628	1,929	2,069	1,950	1,997
Accrued Expenses	9.99	27.85	27.59	61.69	95.16	64.97
Short-Term Debt	735.56	627.34	494.35	690.81	519.91	706.38
Current Portion of Long-Term Debt	-	74.67	28.85	35.36	35.44	113
Current Unearned Revenue	130.09	138.41	271.65	183.12	121.36	83.4
Current Portion of Leases	-	3.97	9.39	9.98	6.83	-
Current Income Taxes Payable	30.82	33.76	55.19	115.19	75.83	32.48
Other Current Liabilities	326.08	344.65	694.06	670.74	525.56	1,001
Total Current Liabilities	2,601	2,879	3,510	3,836	3,330	3,999
Long-Term Debt	446.73	474.4	588.5	477.72	400.2	485.58
Long-Term Leases	41.82	66.42	156.07	338.31	294.98	133.58
Long-Term Unearned Revenue	16.67	16.98	17.02	16.99	19.74	23.83
Long-Term Deferred Tax Liabilities	257.76	268.9	284.15	299.24	309.43	176.07
Other Long-Term Liabilities	105.69	121.81	150.73	152.41	154.79	21.1
Total Liabilities	3,469	3,827	4,707	5,121	4,509	4,839
Common Stock	865.12	865.11	884.77	881.9	881.41	880.2
Additional Paid-In Capital	1,773	1,773	1,866	1,881	1,856	1,834
Retained Earnings	1,567	1,471	1,395	1,229	904.2	723.05
Treasury Stock	-	-	-48.32	-85.56	-106.94	-
Comprehensive Income & Other	109.48	107.44	107.82	105.52	98.74	98.21
Total Common Equity	4,314	4,216	4,206	4,012	3,633	3,535
Minority Interest	233.33	222.22	214.8	161.39	134.72	111.57
Shareholders' Equity	4,548	4,439	4,420	4,173	3,768	3,647
Total Liabilities & Equity	8,017	8,266	9,127	9,294	8,277	8,486
Total Debt	1,224	1,247	1,277	1,552	1,257	1,439
Net Cash (Debt)	-322.9	-138.79	255.57	189.5	-333.08	-116.51
Net Cash Growth	-	-	34.86%	-	-	-
Net Cash Per Share	-0.37	-0.17	0.30	0.22	-0.39	-0.13
Filing Date Shares Outstanding	865.12	865.11	875.11	864.79	860.03	858.82
Total Common Shares Outstanding	865.12	865.11	875.11	864.79	860.03	880.2
Working Capital	-856.66	-901.65	-596.06	-741.09	-835.54	-175.37
Book Value Per Share	4.99	4.87	4.81	4.64	4.22	4.02
Tangible Book Value	2,098	1,957	1,831	1,446	1,122	1,446
Tangible Book Value Per Share	2.43	2.26	2.09	1.67	1.30	1.64
Buildings	-	542.94	523.28	335.86	235.98	208.26
Machinery	-	486.88	501.96	491.32	473.31	455.37
Construction In Progress	-	356.12	482.03	528.04	417.98	359.5

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Utility template. Financial Sources.