Financial Statements — GHG
Balance Sheet
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 1.65 | 1.49 | 0.11 | 0.09 | 0.05 | 0.09 | 0.32 |
| Short-term Investments | -- | 0.00 | 0.06 | 0.03 | -- | -- | -- |
| Accounts Receivable | 0.01 | 0.10 | 0.02 | 0.12 | 0.10 | 0.10 | 0.01 |
| Inventory | 0.00 | 0.01 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Current Assets | 0.27 | 1.84 | 1.63 | 1.70 | 1.83 | 0.24 | 0.18 |
| Property, Plant & Equipment | 0.08 | 0.65 | 0.81 | 0.83 | 1.05 | 0.67 | 0.09 |
| Goodwill | 0.03 | 0.10 | 0.18 | 0.03 | 0.12 | 0.02 | 0.10 |
| Intangible Assets | 0.01 | 0.08 | 0.12 | 0.04 | 0.52 | 0.49 | 0.50 |
| Total Non-current Assets* | 0.41 | 3.11 | 3.44 | (0.96) | 2.84 | 3.85 | 3.63 |
| Total Assets | 0.68 | 4.95 | 5.07 | 0.74 | 4.67 | 4.09 | 3.82 |
| Accounts Payable | 0.04 | 0.06 | 0.07 | 0.02 | 0.00 | 0.02 | 0.02 |
| Short-term Debt | -- | -- | 0.12 | 0.01 | 0.06 | 0.15 | 0.01 |
| Total Current Liabilities | 1.18 | 1.17 | 1.34 | 0.18 | 1.25 | 0.13 | 0.80 |
| Long-term Debt | 0.26 | 0.26 | 0.06 | 0.30 | 0.35 | -- | -- |
| Total Non-current Liabilities* | (0.73) | 2.29 | 2.25 | 0.34 | (0.84) | 0.15 | 1.00 |
| Total Liabilities | 0.45 | 3.45 | 3.59 | 0.52 | 0.41 | 0.28 | 1.80 |
| Retained Earnings | (0.04) | (0.46) | (0.08) | (0.01) | 0.05 | 0.57 | 0.04 |
| Total Stockholder Equity | 1.58 | 1.46 | 1.44 | 0.21 | 0.29 | 0.32 | 1.86 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 1,097.35 | 1,343.44 | 1,627.26 | 936.80 | 1,206.15 | 142.53 | 1,091.79 |
| Cost of Revenue | 714.39 | 822.59 | 947.44 | 86.12 | 102.22 | 60.16 | 338.83 |
| Gross Profit | 382.96 | 71.36 | 95.75 | 49.70 | 87.06 | 82.37 | 108.16 |
| Selling, General & Admin | 130.46 | 182.55 | 29.36 | 30.56 | 55.87 | 26.45 | 26.57 |
| Total Operating Expenses | 326.30 | 49.17 | 48.48 | 113.95 | 62.90 | 33.45 | 248.41 |
| Operating Income | 56.66 | 161.92 | 47.28 | (443.14) | 24.15 | 48.93 | 504.55 |
| Interest Expense | 7.64 | 6.31 | 1.98 | 25.38 | 1.99 | 0.53 | 2.51 |
| Pretax Income | 29.33 | 197.21 | 53.57 | (66.56) | 222.18 | 54.29 | 89.93 |
| Tax Provision | 45.88 | 12.16 | 118.45 | (45.59) | 17.09 | 110.46 | 27.23 |
| Net Income | 166.79 | 110.00 | 269.32 | (382.22) | 117.44 | 40.05 | 63.59 |
| Basic EPS | -- | -- | -- | -- | -- | -- | 3.75 |
| Diluted EPS | -- | -- | -- | -- | -- | -- | 3.75 |
Cash Flow Statement
(in billions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2021 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | 0.28 | 0.37 | 0.46 | 0.29 | 0.36 | 0.05 | 0.07 |
| Capital Expenditures | 0.26 | 0.08 | 0.09 | 0.07 | 0.34 | 0.11 | 0.21 |
| Free Cash Flow* | 0.02 | 0.29 | 0.37 | 0.22 | 0.02 | (0.07) | (0.14) |
| Investing Cash Flow | (0.01) | 0.35 | (0.01) | 0.06 | (0.93) | (0.02) | (1.22) |
| Financing Cash Flow | (0.01) | 0.01 | (0.30) | (0.05) | 0.04 | 0.02 | (0.21) |
* Derived from reported values
Dividends Per Share
(USD)| Metric | FY
2025 | FY
2024 |
|---|
| Dividends Per Share | 0.06 | 0.10 |
