Shanxi Tongde Chemical Co., Ltd. 2025 Annual Financial Report
I. Scope of Financial Report and Accounting Standards Applied
- The scope of the company's 2025 financial statements and consolidated financial statements includes: 23 subsidiaries, 2 partnerships, and 1 investee company. Among them, there are 11 wholly-owned subsidiaries at the first level; 1 controlling subsidiary at the first level; 2 wholly-owned subsidiaries at the second level; 9 controlling subsidiaries at the second level; 2 partnerships; and 1 investee company.
- The company applies the "Basic Standards of Accounting" and various specific accounting standards, application guidelines, interpretations, and other relevant regulations. The Gregorian calendar year is used as the accounting year. The accrual basis is used for bookkeeping. Historical cost is the general measurement attribute, and the Renminbi is the accounting unit.
II. Company's Financial Position and Operating Results
(I) Financial Position
- Total Assets As of December 31, 2025, the company's total assets amounted to 342,546.63 million yuan, a decrease of 128,829.55 million yuan from the beginning of the year's 471,376.18 million yuan, a decline of 27.33%. Among these, current assets were 55,609.96 million yuan, accounting for 16.23% of total assets; non-current assets were 286,936.67 million yuan, accounting for 83.77% of total assets. The significant changes this year are mainly: (1) Cash and cash equivalents at the end of the period were 8,028.71 million yuan, a decrease of 57.22% from the beginning of the period, mainly due to the repayment of principal and interest on debt. (2) Financing by accounts receivable at the end of the period was 306.48 million yuan, an increase of 66.27% from the beginning of the period, mainly due to an increase in settlement with bank acceptance bills during the period, resulting in an increase in the balance at the end of the period. (3) The book value of other receivables at the end of the period was 1,953.04 million yuan, a decrease of 75.22% from the beginning of the period, mainly due to the recovery of some intercompany payments and the final payment for equity transfer during the period.