QC Solar 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	218.35	248.43	141.6	357.36	180.06	80.57
Short-Term Investments	196	266.44	46.21	100.15	112	-
Trading Asset Securities	15.04	36.11	55.03	130.38	350.48	0.85
Cash & Short-Term Investments	429.39	550.98	242.85	587.89	642.54	81.42
Cash Growth	128.35%	126.88%	-58.69%	-8.51%	689.14%	-6.35%
Accounts Receivable	614.37	626.1	455.64	580.46	601.73	468
Other Receivables	7.17	7.49	3.86	1.31	4.54	1.96
Receivables	621.53	633.59	459.5	581.77	606.27	469.96
Inventory	195.12	178.09	124.2	121.14	126.68	126.82
Prepaid Expenses	-	0.02	-	-	-	-
Other Current Assets	73.95	28.36	16.62	7.5	11.63	1.51
Total Current Assets	1,320	1,391	843.16	1,298	1,387	679.71
Property, Plant & Equipment	332.31	335.96	270.73	130.21	81.38	60.14
Long-Term Investments	0.1	405.05	554.59	219.21	-	32.58
Other Intangible Assets	21.51	21.82	22.11	22.73	12.29	12.17
Long-Term Accounts Receivable	0.11	0.11	0.12	2.66	-	-
Long-Term Deferred Tax Assets	9.5	9.33	8.72	8.12	6.59	5.31
Long-Term Deferred Charges	0.42	0.44	0.52	1.51	1.22	1
Other Long-Term Assets	414.59	10.4	1.84	0.36	1.66	0.15
Total Assets	2,099	2,174	1,702	1,683	1,490	791.06
Accounts Payable	346.11	422.46	309.27	347.61	354.66	308.07
Accrued Expenses	22.65	23.38	24.06	22.83	12.75	6.98
Short-Term Debt	127.8	129.12	-	-	-	12.71
Current Portion of Leases	0.55	0.56	-	3.34	2.61	-
Current Income Taxes Payable	4.05	3.28	0.51	1.71	5.31	2.73
Current Unearned Revenue	8.56	9.03	8.56	6.03	5.26	3.01
Other Current Liabilities	161.04	161.05	93.33	111	98.31	68.83
Total Current Liabilities	670.76	748.87	435.73	492.52	478.89	402.32
Long-Term Leases	-	-	-	1.98	4.72	-
Long-Term Unearned Revenue	3.02	3.08	-	-	-	-
Long-Term Deferred Tax Liabilities	0.76	0.79	0.9	1.78	2.3	0.13
Total Liabilities	674.54	752.75	436.63	496.28	485.91	402.45
Common Stock	89.71	89.71	83.36	83.32	64	48
Additional Paid-In Capital	666.05	666.05	490.44	488.55	503.62	24.52
Retained Earnings	670.71	665.07	690.44	616.42	435.61	317.18
Treasury Stock	-	-	-1.92	-3.31	-	-
Comprehensive Income & Other	-2.49	0.58	2.85	1.84	1.11	-1.09
Shareholders' Equity	1,424	1,421	1,265	1,187	1,004	388.61
Total Liabilities & Equity	2,099	2,174	1,702	1,683	1,490	791.06
Total Debt	128.35	129.68	-	5.32	7.33	12.71
Net Cash (Debt)	301.03	421.29	242.85	582.56	635.21	68.71
Net Cash Growth	60.60%	73.48%	-58.31%	-8.29%	824.48%	59.52%
Net Cash Per Share	3.33	4.74	2.92	7.01	11.91	1.10
Filing Date Shares Outstanding	89.71	89.71	83.36	82.6	83.2	62.4
Total Common Shares Outstanding	89.71	89.71	83.36	82.6	83.2	62.4
Working Capital	649.24	642.17	407.44	805.78	908.22	277.39
Book Value Per Share	15.87	15.84	15.18	14.37	12.07	6.23
Tangible Book Value	1,402	1,400	1,243	1,164	992.05	376.44
Tangible Book Value Per Share	15.63	15.60	14.91	14.09	11.92	6.03
Buildings	-	243.12	119.73	37.78	36.84	36.77
Machinery	-	171.73	131.18	103.7	87.73	68.35
Construction In Progress	-	8.1	91.8	42.76	2.25	0.21