Zhaoheng Hydropower Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2008	FY 2007	FY 2006
Period Ending	Mar '09 Mar 31, 2009	Dec '08 Dec 31, 2008	Dec '07 Dec 31, 2007	Dec '06 Dec 31, 2006
Cash & Equivalents	1.63	5.8	0.99	4.82
Accounts Receivable	2.6	4.21	1.92	4.56
Other Receivables	0.07	0.05	0.22	0.18
Prepaid Expenses	0.11	0.2	0.09	-
Loans Receivable Current	-	-	0.2	0.09
Other Current Assets	0.66	-	-	3.04
Total Current Assets	5.09	10.27	3.42	12.69
Property, Plant & Equipment	88.37	76.33	59.13	43.22
Other Intangible Assets	1.31	1.22	1.17	1.12
Long-Term Investments	1.79	1.72	0.54	0.5
Long-Term Deferred Charges	0.06	0.03	-	-
Long-Term Accounts Receivable	-	0.01	-	-
Other Long-Term Assets	0.37	4.39	17.71	24.87
Total Assets	96.98	93.96	81.95	82.4
Accounts Payable	0.39	0.07	0.04	0.94
Accrued Expenses	0.98	1.13	0.21	0.03
Short-Term Debt	1.14	0.26	0.07	2.56
Current Income Taxes Payable	0.09	0.07	0.05	0
Other Current Liabilities	6	2.43	1.74	2.8
Total Current Liabilities	8.6	3.96	2.1	6.33
Long-Term Debt	61.06	63.17	60.57	33.26
Total Liabilities	69.67	67.14	62.67	39.59
Common Stock	0.07	0.07	0.07	-
Additional Paid-In Capital	15.37	15.37	15.37	32.2
Retained Earnings	7.5	7.29	1.3	2.74
Comprehensive Income & Other	3.94	3.89	2.54	1.93
Total Common Equity	26.88	26.62	19.28	36.87
Minority Interest	0.44	0.2	-	5.93
Shareholders' Equity	27.32	26.82	19.28	42.8
Total Liabilities & Equity	96.98	93.96	81.95	82.4
Total Debt	62.2	63.43	60.63	35.82
Net Cash (Debt)	-60.57	-57.63	-59.64	-31
Net Cash Per Share	-0.84	-0.80	-0.83	-
Filing Date Shares Outstanding	76.64	71.69	71.69	-
Total Common Shares Outstanding	71.69	71.69	71.69	-
Working Capital	-3.52	6.3	1.31	6.35
Book Value Per Share	0.37	0.37	0.27	-
Tangible Book Value	25.57	25.4	18.11	35.76
Tangible Book Value Per Share	0.36	0.35	0.25	-
Buildings	0.85	11.8	8.28	7.62
Machinery	39.52	37.67	14.27	13.32
Construction In Progress	1.76	1.17	28.49	13.78

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