XtalPi Holdings Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	2,573	1,166	710.76	574.22	3,524
Short-Term Investments	1,923	159.75	1,263	2,552	314.09
Trading Asset Securities	2,566	1,786	863.37	356.36	-
Cash & Short-Term Investments	7,062	3,112	2,838	3,483	3,838
Cash Growth	126.94%	9.67%	-18.52%	-9.26%	-
Accounts Receivable	154.74	102.33	38.51	37.94	30.72
Other Receivables	53.71	43.27	19.76	22.95	16.26
Receivables	216.79	152.34	58.26	60.89	46.98
Prepaid Expenses	42.28	24.51	9.3	14.53	5.04
Restricted Cash	17.99	0.8	2.34	5.43	12.75
Other Current Assets	127.42	25.67	37.89	33.28	17.05
Total Current Assets	7,467	3,315	2,945	3,597	3,920
Property, Plant & Equipment	364.62	411.32	559.14	395.63	270.57
Long-Term Investments	2,139	602.16	468.42	303.24	170.47
Goodwill	168.86	-	-	-	-
Other Intangible Assets	64.53	7.74	7.87	6.68	5.12
Long-Term Accounts Receivable	6.79	-	-	-	-
Other Long-Term Assets	6.92	18.25	24.92	13.89	16.05
Total Assets	10,217	4,355	4,006	4,316	4,382
Accounts Payable	62.28	16.14	13.65	13.98	10.57
Accrued Expenses	135.89	95.54	74.11	69.91	48.65
Short-Term Debt	158.8	51.9	60	36	-
Current Portion of Long-Term Debt	12	-	-	-	22.28
Current Portion of Leases	25.46	31.96	58.78	24.25	17.3
Current Income Taxes Payable	2.86	0.93	0.06	4.48	2.49
Current Unearned Revenue	57.37	22.67	33.09	16.64	11.83
Other Current Liabilities	50.89	60.59	57.68	32.39	47.75
Total Current Liabilities	505.56	279.72	297.38	197.65	160.87
Long-Term Debt	175	-	10,780	9,321	7,712
Long-Term Leases	70.6	64.91	137.18	69.21	81.67
Long-Term Unearned Revenue	28	17.8	32.04	29.63	30.64
Long-Term Deferred Tax Liabilities	7.45	-	-	-	-
Other Long-Term Liabilities	-	-	-	8.64	0.28
Total Liabilities	786.61	362.43	11,247	9,626	7,986
Common Stock	0.3	0.24	0.05	0.05	0.05
Additional Paid-In Capital	-	-	-	4.59	4.59
Retained Earnings	-8,448	-8,572	-7,040	-5,126	-3,684
Treasury Stock	-	-	-	-0.02	-0.02
Comprehensive Income & Other	17,832	12,536	-227.11	-206.33	70.05
Total Common Equity	9,384	3,964	-7,267	-5,328	-3,609
Minority Interest	47.17	28.55	26.17	17.88	5.39
Shareholders' Equity	9,431	3,992	-7,241	-5,310	-3,604
Total Liabilities & Equity	10,217	4,355	4,006	4,316	4,382
Total Debt	441.86	148.77	11,036	9,450	7,834
Net Cash (Debt)	6,620	2,963	-8,199	-5,968	-3,996
Net Cash Growth	123.42%	-	-	-	-
Net Cash Per Share	1.66	1.54	-16.94	-12.33	-8.29
Filing Date Shares Outstanding	4,303	3,414	782.02	483.98	482.27
Total Common Shares Outstanding	4,303	3,414	782.02	483.98	482.27
Working Capital	6,961	3,036	2,648	3,399	3,759
Book Value Per Share	2.18	1.16	-9.29	-11.01	-7.48
Tangible Book Value	9,150	3,956	-7,275	-5,334	-3,614
Tangible Book Value Per Share	2.13	1.16	-9.30	-11.02	-7.49
Machinery	352.72	319.9	261.38	182.56	73.24
Construction In Progress	32.83	41.77	98.1	120.88	52.18
Leasehold Improvements	181.13	170.1	141.86	77.54	69.6

Source: S&P Capital IQ. Standard template. Financial Sources.