Hichain Logistics Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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	1,527	1,667	1,753	1,427	1,065	731
Trading Asset Securities	34.95	171.53	1	-	651.67	755.5
Cash & Short-Term Investments	1,562	1,839	1,754	1,427	1,717	1,487
Cash Growth	-15.10%	4.81%	22.91%	-16.87%	15.50%	13.20%
Accounts Receivable	636.56	569.91	595.41	667.52	638.3	364.27
Other Receivables	49.55	47.72	38.87	27.75	18.68	26.14
Receivables	686.11	617.63	634.27	695.28	656.98	390.41
Inventory	153.69	31.61	39.88	44.53	7.9	8.16
Prepaid Expenses	-	0.31	1.2	0.79	1.08	3.11
Other Current Assets	210.59	155.51	82.57	87.9	47.16	16.44
Total Current Assets	2,613	2,644	2,512	2,256	2,430	1,905
Property, Plant & Equipment	2,274	2,116	1,548	1,262	917.22	474.69
Long-Term Investments	318.61	299	292.25	253.26	35.11	5.18
Goodwill	42.04	42.04	42.04	42.04	-	-
Other Intangible Assets	367.49	382.33	349.3	325.96	145.86	116.86
Long-Term Deferred Tax Assets	41.16	36.37	21.1	26.15	22.46	6.24
Long-Term Deferred Charges	22.09	16.01	19.75	18.39	10.91	3.69
Other Long-Term Assets	188.43	52.92	53.48	54.3	152.29	61.06
Total Assets	5,867	5,588	4,838	4,238	3,714	2,572

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Accounts Payable	999.2	1,013	751.56	656.58	466.05	285.91
Accrued Expenses	92.83	67.31	68.79	55.13	57.95	43.41
Short-Term Debt	750	550.46	400.36	-	-	-
Current Portion of Long-Term Debt	-	0.14	-	-	-	-
Current Portion of Leases	55.47	81.2	84.81	80.14	113.58	34.16
Current Income Taxes Payable	-	48.66	41.4	37.77	40.63	16.03
Current Unearned Revenue	68.71	7.95	7.54	38.79	2.26	0.2
Other Current Liabilities	107.26	108.42	81.1	218.04	11.26	13.92
Total Current Liabilities	2,073	1,877	1,436	1,086	691.73	393.62
Long-Term Debt	153.28	153.28	-	-	-	-
Long-Term Leases	118.98	36.02	70.39	130.36	236.8	15.3
Long-Term Unearned Revenue	7.99	8.81	4	4.5	5	5
Long-Term Deferred Tax Liabilities	33.3	31.86	33.49	31.52	24.57	14.46
Other Long-Term Liabilities	1.12	7.79	13.31	13.11	5.93	5.43
Total Liabilities	2,388	2,115	1,557	1,266	964.03	433.81

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Common Stock	322.25	230.6	230.6	230.6	230.6	133.33
Additional Paid-In Capital	1,209	1,295	1,311	1,311	1,311	1,083
Retained Earnings	1,693	1,711	1,538	1,336	1,135	836.57
Treasury Stock	-47.96	-57.01	-81.75	-50.06	-50.06	-
Comprehensive Income & Other	42.35	29.32	24.2	20.78	16.95	-5.63
Total Common Equity	3,219	3,209	3,022	2,848	2,643	2,047
Minority Interest	259.32	263.68	258.59	124.05	106.6	91.14
Shareholders' Equity	3,479	3,473	3,281	2,972	2,750	2,139
Total Liabilities & Equity	5,867	5,588	4,838	4,238	3,714	2,572

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Total Debt	1,078	821.1	555.56	210.5	350.37	49.46
Net Cash (Debt)	484.55	1,017	1,199	1,217	1,366	1,437
Net Cash Growth	-52.86%	-15.12%	-1.49%	-10.96%	-4.91%	9.44%
Net Cash Per Share	1.52	3.18	3.76	3.80	4.57	4.81
Filing Date Shares Outstanding	320.78	320.78	317.42	320.12	320.12	298.67
Total Common Shares Outstanding	320.78	320.78	317.42	320.12	320.12	298.67
Working Capital	539.22	766.13	1,077	1,169	1,738	1,511
Book Value Per Share	10.04	10.00	9.52	8.90	8.26	6.86
Tangible Book Value	2,810	2,785	2,631	2,480	2,497	1,931
Tangible Book Value Per Share	8.76	8.68	8.29	7.75	7.80	6.46
Buildings	-	1,006	1,004	641.88	414.77	414.6
Machinery	-	489.85	405.58	262.55	214.65	124.39
Construction In Progress	-	886.99	317.6	430.44	170.21	79.23