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	Jun '26 Jun 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	1,563	1,667	1,753	1,427	1,065	731
Trading Asset Securities	70.78	171.53	1	-	651.67	755.5
Cash & Short-Term Investments	1,633	1,839	1,754	1,427	1,717	1,487
Cash Growth	-5.70%	4.81%	22.91%	-16.87%	15.50%	13.20%
Accounts Receivable	677.11	569.91	595.41	667.52	638.3	364.27
Other Receivables	46.75	47.72	38.87	27.75	18.68	26.14
Receivables	723.86	617.63	634.27	695.28	656.98	390.41
Inventory	53.64	31.61	39.88	44.53	7.9	8.16
Prepaid Expenses	0.3	0.31	1.2	0.79	1.08	3.11
Other Current Assets	156.41	155.51	82.57	87.9	47.16	16.44
Total Current Assets	2,568	2,644	2,512	2,256	2,430	1,905
Property, Plant & Equipment	2,273	2,116	1,548	1,262	917.22	474.69
Long-Term Investments	310.87	299	292.25	253.26	35.11	5.18
Goodwill	42.04	42.04	42.04	42.04	-	-
Other Intangible Assets	372.94	382.33	349.3	325.96	145.86	116.86
Long-Term Deferred Tax Assets	46.78	36.37	21.1	26.15	22.46	6.24
Long-Term Deferred Charges	16.72	16.01	19.75	18.39	10.91	3.69
Other Long-Term Assets	137.37	52.92	53.48	54.3	152.29	61.06
Total Assets	5,768	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	Jun '26 Jun 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	1,023	1,013	751.56	656.58	466.05	285.91
Accrued Expenses	43.88	67.31	68.79	55.13	57.95	43.41
Short-Term Debt	700.45	550.46	400.36	-	-	-
Current Portion of Long-Term Debt	-	0.14	-	-	-	-
Current Portion of Leases	79.29	81.2	84.81	80.14	113.58	34.16
Current Income Taxes Payable	22.44	48.66	41.4	37.77	40.63	16.03
Current Unearned Revenue	26.72	7.95	7.54	38.79	2.26	0.2
Other Current Liabilities	140.41	108.42	81.1	218.04	11.26	13.92
Total Current Liabilities	2,036	1,877	1,436	1,086	691.73	393.62
Long-Term Debt	153.28	153.28	-	-	-	-
Long-Term Leases	109.27	36.02	70.39	130.36	236.8	15.3
Long-Term Unearned Revenue	8.26	8.81	4	4.5	5	5
Long-Term Deferred Tax Liabilities	29.94	31.86	33.49	31.52	24.57	14.46
Other Long-Term Liabilities	0.74	7.79	13.31	13.11	5.93	5.43
Total Liabilities	2,337	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	Jun '26 Jun 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	1,207	1,295	1,311	1,311	1,311	1,083
Retained Earnings	1,652	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	35.86	29.32	24.2	20.78	16.95	-5.63
Total Common Equity	3,170	3,209	3,022	2,848	2,643	2,047
Minority Interest	260.79	263.68	258.59	124.05	106.6	91.14
Shareholders' Equity	3,431	3,473	3,281	2,972	2,750	2,139
Total Liabilities & Equity	5,768	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	Jun '26 Jun 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	1,042	821.1	555.56	210.5	350.37	49.46
Net Cash (Debt)	591.07	1,017	1,199	1,217	1,366	1,437
Net Cash Growth	-46.23%	-15.12%	-1.49%	-10.96%	-4.91%	9.44%
Net Cash Per Share	1.85	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	531.85	766.13	1,077	1,169	1,738	1,511
Book Value Per Share	9.88	10.00	9.52	8.90	8.26	6.86
Tangible Book Value	2,755	2,785	2,631	2,480	2,497	1,931
Tangible Book Value Per Share	8.59	8.68	8.29	7.75	7.80	6.46
Buildings	1,005	1,006	1,004	641.88	414.77	414.6
Machinery	561.48	489.85	405.58	262.55	214.65	124.39
Construction In Progress	939.35	886.99	317.6	430.44	170.21	79.23