Modern Land (China) 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	68.16	87.17	291.91	542.33	1,585	10,822
Cash & Short-Term Investments	68.16	87.17	291.91	542.33	1,585	10,822
Cash Growth	-67.02%	-70.14%	-46.17%	-65.78%	-85.35%	37.71%
Accounts Receivable	1,043	1,004	1,023	763.98	874.94	745.66
Other Receivables	5,487	5,271	7,301	5,928	6,845	6,989
Receivables	6,530	6,275	8,324	6,692	7,720	7,734
Inventory	21,658	21,541	25,370	35,247	45,940	43,855
Prepaid Expenses	1,035	997.3	1,138	1,478	2,054	1,924
Restricted Cash	249.58	250.46	391.07	1,028	2,427	3,270
Other Current Assets	92.88	82.45	90.75	83.92	3,629	540
Total Current Assets	29,633	29,234	35,606	45,070	63,356	68,146
Property, Plant & Equipment	351.31	361.41	383.95	362.63	395.7	437.93
Long-Term Investments	1,813	1,781	1,702	2,662	2,384	3,274
Other Intangible Assets	18.92	19.92	20.83	19.61	21.77	16.97
Long-Term Deferred Tax Assets	1,032	1,023	1,063	918.4	1,312	1,166
Other Long-Term Assets	2,009	2,011	2,378	2,794	3,062	3,102
Total Assets	36,058	35,633	42,415	58,500	77,619	81,912
Accounts Payable	5,872	5,551	4,706	2,015	3,715	4,280
Accrued Expenses	3,338	2,892	1,915	464.83	673.72	737.94
Short-Term Debt	-	-	-	-	1,972	-
Current Portion of Long-Term Debt	22,436	21,803	10,514	11,446	22,639	9,809
Current Income Taxes Payable	4,475	4,226	3,999	3,693	3,827	3,825
Current Unearned Revenue	9,647	9,834	12,159	18,512	24,928	20,935
Other Current Liabilities	11,957	11,783	11,380	10,302	10,489	15,800
Total Current Liabilities	57,725	56,090	44,673	46,432	68,244	55,387
Long-Term Debt	1,877	1,881	12,437	10,717	1,907	14,784
Long-Term Deferred Tax Liabilities	305.69	310.67	463.89	479.38	653.53	763.95
Total Liabilities	59,908	58,282	57,574	57,629	70,805	70,934
Common Stock	175.69	175.69	175.69	175.69	175.69	175.69
Additional Paid-In Capital	825.71	825.71	825.71	825.71	825.71	825.71
Retained Earnings	-24,146	-23,038	-15,575	-1,262	3,235	5,408
Comprehensive Income & Other	57.1	57.1	57.73	107.43	232.39	299.75
Total Common Equity	-23,088	-21,980	-14,515	-152.91	4,469	6,709
Minority Interest	-762.21	-669.88	-643.48	1,025	2,344	4,268
Shareholders' Equity	-23,850	-22,650	-15,159	871.7	6,813	10,978
Total Liabilities & Equity	36,058	35,633	42,415	58,500	77,619	81,912
Total Debt	24,313	23,684	22,952	22,163	26,518	24,593
Net Cash (Debt)	-24,245	-23,597	-22,660	-21,621	-24,933	-13,771
Net Cash Per Share	-8.67	-8.44	-8.11	-7.74	-8.92	-4.92
Filing Date Shares Outstanding	2,795	2,795	2,795	2,795	2,795	2,795
Total Common Shares Outstanding	2,795	2,795	2,795	2,795	2,795	2,795
Working Capital	-28,092	-26,857	-9,067	-1,362	-4,889	12,759
Book Value Per Share	-8.26	-7.86	-5.19	-0.05	1.60	2.40
Tangible Book Value	-23,107	-22,000	-14,536	-172.53	4,447	6,692
Tangible Book Value Per Share	-8.27	-7.87	-5.20	-0.06	1.59	2.39
Land	-	548.32	549.86	511.07	551.12	570.93
Machinery	-	61.59	62.65	63.75	68.35	85.47

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