Hichain Logistics 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	1,606	1,667	1,753	1,427	1,065	731
Trading Asset Securities	115.27	171.53	1	-	651.67	755.5
Cash & Short-Term Investments	1,721	1,839	1,754	1,427	1,717	1,487
Cash Growth	-3.28%	4.81%	22.91%	-16.87%	15.50%	13.20%
Accounts Receivable	515.45	569.91	595.41	667.52	638.3	364.27
Other Receivables	46.33	47.72	38.87	27.75	18.68	26.14
Receivables	561.78	617.63	634.27	695.28	656.98	390.41
Inventory	38.61	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	175.16	155.51	82.57	87.9	47.16	16.44
Total Current Assets	2,497	2,644	2,512	2,256	2,430	1,905
Property, Plant & Equipment	2,179	2,116	1,548	1,262	917.22	474.69
Long-Term Investments	306.99	299	292.25	253.26	35.11	5.18
Goodwill	42.04	42.04	42.04	42.04	-	-
Other Intangible Assets	378.22	382.33	349.3	325.96	145.86	116.86
Long-Term Deferred Tax Assets	43.85	36.37	21.1	26.15	22.46	6.24
Long-Term Deferred Charges	18.76	16.01	19.75	18.39	10.91	3.69
Other Long-Term Assets	43.83	52.92	53.48	54.3	152.29	61.06
Total Assets	5,510	5,588	4,838	4,238	3,714	2,572
Accounts Payable	978.13	1,013	751.56	656.58	466.05	285.91
Accrued Expenses	35.92	67.31	68.79	55.13	57.95	43.41
Short-Term Debt	550.38	550.46	400.36	-	-	-
Current Portion of Long-Term Debt	-	0.14	-	-	-	-
Current Portion of Leases	60.02	81.2	84.81	80.14	113.58	34.16
Current Income Taxes Payable	44.12	48.66	41.4	37.77	40.63	16.03
Current Unearned Revenue	16.05	7.95	7.54	38.79	2.26	0.2
Other Current Liabilities	113.34	108.42	81.1	218.04	11.26	13.92
Total Current Liabilities	1,798	1,877	1,436	1,086	691.73	393.62
Long-Term Debt	153.28	153.28	-	-	-	-
Long-Term Leases	26.69	36.02	70.39	130.36	236.8	15.3
Long-Term Unearned Revenue	8.79	8.81	4	4.5	5	5
Long-Term Deferred Tax Liabilities	32.5	31.86	33.49	31.52	24.57	14.46
Other Long-Term Liabilities	8.62	7.79	13.31	13.11	5.93	5.43
Total Liabilities	2,028	2,115	1,557	1,266	964.03	433.81
Common Stock	230.6	230.6	230.6	230.6	230.6	133.33
Additional Paid-In Capital	1,297	1,295	1,311	1,311	1,311	1,083
Retained Earnings	1,713	1,711	1,538	1,336	1,135	836.57
Treasury Stock	-57.01	-57.01	-81.75	-50.06	-50.06	-
Comprehensive Income & Other	33.15	29.32	24.2	20.78	16.95	-5.63
Total Common Equity	3,216	3,209	3,022	2,848	2,643	2,047
Minority Interest	265.58	263.68	258.59	124.05	106.6	91.14
Shareholders' Equity	3,482	3,473	3,281	2,972	2,750	2,139
Total Liabilities & Equity	5,510	5,588	4,838	4,238	3,714	2,572
Total Debt	790.36	821.1	555.56	210.5	350.37	49.46
Net Cash (Debt)	931.03	1,017	1,199	1,217	1,366	1,437
Net Cash Growth	-15.70%	-15.12%	-1.49%	-10.96%	-4.91%	9.44%
Net Cash Per Share	4.07	4.46	5.27	5.32	6.39	6.74
Filing Date Shares Outstanding	229.13	229.13	226.73	228.66	228.66	213.33
Total Common Shares Outstanding	229.13	229.13	226.73	228.66	228.66	213.33
Working Capital	698.99	766.13	1,077	1,169	1,738	1,511
Book Value Per Share	14.04	14.01	13.33	12.46	11.56	9.60
Tangible Book Value	2,796	2,785	2,631	2,480	2,497	1,931
Tangible Book Value Per Share	12.20	12.15	11.60	10.85	10.92	9.05
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

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