Gushengtang Holdings 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	1,157	1,116	1,301	994.33	1,031	249.99
Short-Term Investments	86.97	20.63	-	-	-	-
Trading Asset Securities	-	3.03	30.31	30.01	-	107.34
Cash & Short-Term Investments	1,244	1,140	1,332	1,024	1,031	357.33
Cash Growth	6.30%	-14.38%	30.00%	-0.62%	188.44%	87.66%
Receivables	208.47	269.44	179.93	89.41	72.7	56.58
Inventory	190.55	179.49	152.95	104.86	77.36	57.74
Restricted Cash	6.56	19.32	12.69	-	3.57	-
Other Current Assets	279.49	204.24	160.41	141	112.5	139.27
Total Current Assets	1,930	1,813	1,838	1,360	1,297	610.92
Property, Plant & Equipment	583.1	531.8	443.45	339.33	312.95	225.63
Long-Term Investments	139.42	99.77	30.53	6.07	11	6.17
Goodwill	1,164	1,133	984.69	816.67	688.62	545.11
Other Intangible Assets	19.5	21.56	24.76	27.76	31.43	22.76
Long-Term Deferred Tax Assets	33.53	33.55	34.39	40.41	40.16	23.38
Other Long-Term Assets	22.16	24.34	23.93	28.41	10.81	11.48
Total Assets	3,891	3,656	3,379	2,618	2,392	1,445
Accounts Payable	322.08	307.67	286.62	164.31	161.33	113.11
Accrued Expenses	-	76.09	82.46	-	-	-
Short-Term Debt	-	-	-	-	-	1,204
Current Portion of Long-Term Debt	14.27	7.89	16.43	18.21	17.48	412.89
Current Portion of Leases	78.67	80.5	76.85	57.42	57.46	40.03
Current Income Taxes Payable	27.91	52.38	33.65	14.42	8.13	9.06
Current Unearned Revenue	-	46.16	42.23	-	-	-
Other Current Liabilities	423.86	192.61	169.99	299.96	276.74	258.79
Total Current Liabilities	866.78	763.31	708.23	554.32	521.14	2,038
Long-Term Debt	188.89	92.21	-	52.96	66.84	259.39
Long-Term Leases	357.92	327.97	277.3	222.7	203.59	158.15
Long-Term Deferred Tax Liabilities	4.78	4.78	6.23	14.21	6.19	4.32
Other Long-Term Liabilities	93.65	91.57	81.5	56.06	44.64	118.81
Total Liabilities	1,512	1,280	1,073	900.25	842.39	2,579
Common Stock	0.15	0.16	0.16	0.15	0.15	-
Additional Paid-In Capital	3,351	3,573	3,684	3,087	3,087	-
Retained Earnings	-1,068	-1,041	-1,410	-1,572	-1,751	-1,244
Treasury Stock	-12.42	-157.02	-12.15	-	-	-
Comprehensive Income & Other	108.39	0.78	43.06	202.27	213.39	110.59
Total Common Equity	2,379	2,376	2,305	1,717	1,549	-1,134
Minority Interest	0.59	0.37	1.09	1.12	0.52	0.33
Shareholders' Equity	2,379	2,376	2,306	1,718	1,549	-1,133
Total Liabilities & Equity	3,891	3,656	3,379	2,618	2,392	1,445
Total Debt	639.75	508.56	370.57	351.29	345.37	2,075
Net Cash (Debt)	604.71	631.54	961.04	673.06	685.34	-1,717
Net Cash Growth	-25.01%	-34.29%	42.79%	-1.79%	-	-
Net Cash Per Share	2.42	2.52	3.93	2.82	5.92	-22.02
Filing Date Shares Outstanding	236.41	244.13	246.3	230.4	230.4	202.52
Total Common Shares Outstanding	236.41	244.13	246.3	230.4	230.4	202.52
Working Capital	1,063	1,049	1,129	805.29	775.7	-1,427
Book Value Per Share	10.06	9.73	9.36	7.45	6.72	-5.60
Tangible Book Value	1,195	1,222	1,296	872.46	828.85	-1,702
Tangible Book Value Per Share	5.06	5.00	5.26	3.79	3.60	-8.40
Machinery	-	117.11	93.41	76.84	63.44	48.2
Leasehold Improvements	-	280.11	224.45	174.69	151.62	119.06

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