Bairong Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	833.52	739.23	913.99	888.51	3,346	41.95
Short-Term Investments	1,599	2,264	430.57	24.44	25.83	17.22
Trading Asset Securities	1,161	480.57	724.23	848.74	300.33	806.1
Cash & Short-Term Investments	3,594	3,484	2,069	1,762	3,673	865.27
Cash Growth	20.63%	68.39%	17.43%	-52.03%	324.45%	20.56%
Accounts Receivable	669.87	611.82	519.25	361.66	250.56	179.91
Other Receivables	52.35	175.98	128.8	54.76	-	-
Receivables	896.06	903.06	716.22	418.38	250.56	186.26
Inventory	-	-	211.56	247.94	135.73	-
Prepaid Expenses	9.66	16.8	2.13	7.64	7.42	6
Restricted Cash	2.99	0.21	5.72	16.99	82.88	-
Other Current Assets	30.62	451.95	79.41	78.81	81.35	17.95
Total Current Assets	4,533	4,856	3,084	2,531	4,231	1,075
Property, Plant & Equipment	229.92	206.16	101.06	114.73	132.31	166.31
Long-Term Investments	769.95	543.19	2,142	2,375	256.13	3.54
Goodwill	34.05	34.05	119.47	180.01	180.01	34.05
Other Intangible Assets	30.18	30.62	47.43	54.21	62.93	30.09
Long-Term Deferred Tax Assets	6.59	17	3.46	4.56	5.39	12.58
Other Long-Term Assets	5.82	8.61	8.31	7.74	5.72	5.72
Total Assets	5,610	5,695	5,506	5,267	4,873	1,328
Accounts Payable	268.41	256.66	301.86	165.34	94.62	53.14
Accrued Expenses	376.05	396.49	352.19	266.02	211.64	137.47
Short-Term Debt	-	-	91.36	45	51	-
Current Portion of Leases	37.62	36.4	39.07	50.65	35.3	44.9
Current Income Taxes Payable	18.17	18	0.52	-	-	-
Current Unearned Revenue	74.03	62.18	81.58	60.73	48.35	39.87
Other Current Liabilities	3.57	290.21	167.22	323.65	194.58	4.57
Total Current Liabilities	777.85	1,060	1,034	911.38	635.49	279.93
Long-Term Debt	-	-	-	-	-	2,213
Long-Term Leases	75.41	90.5	14.09	35.87	71.86	86.44
Long-Term Deferred Tax Liabilities	5.82	18.22	8.97	9.61	11.21	5.85
Total Liabilities	859.08	1,169	1,057	956.87	718.56	2,585
Common Stock	0.06	0.06	0.06	0.07	0.06	0.02
Retained Earnings	823.74	633.47	367.29	-4,821	-5,061	-1,458
Treasury Stock	-74.96	-298.73	-185.58	-148.84	-60.74	-
Comprehensive Income & Other	3,988	4,182	4,257	9,266	9,251	183.06
Total Common Equity	4,737	4,517	4,439	4,295	4,129	-1,275
Minority Interest	13.88	9.57	9.72	14.92	25.54	17.75
Shareholders' Equity	4,751	4,527	4,449	4,310	4,155	-1,257
Total Liabilities & Equity	5,610	5,695	5,506	5,267	4,873	1,328
Total Debt	113.03	126.9	144.51	131.52	158.16	2,344
Net Cash (Debt)	3,481	3,357	1,924	1,630	3,514	-1,479
Net Cash Growth	20.21%	74.44%	18.04%	-53.62%	-	-
Net Cash Per Share	7.53	7.05	3.85	3.17	8.94	-10.83
Filing Date Shares Outstanding	442.23	441.27	471.01	484.91	500.35	495.29
Total Common Shares Outstanding	442.23	441.27	471.01	484.91	500.35	136.58
Working Capital	3,755	3,796	2,050	1,620	3,595	795.55
Book Value Per Share	10.71	10.24	9.42	8.86	8.25	-9.33
Tangible Book Value	4,673	4,452	4,272	4,061	3,886	-1,339
Tangible Book Value Per Share	10.57	10.09	9.07	8.38	7.77	-9.80
Machinery	211.52	163.62	115.95	93.26	73.07	58.54
Leasehold Improvements	41.18	39.15	35.82	34.69	30.93	25.28

Source: S&P Global Market Intelligence. Standard template. Financial Sources.