Milan Station Holdings Balance Sheet

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

Millions HKD. 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	9.45	11.25	10.34	18.48	28.55	67.58
Short-Term Investments	-	3.67	4.53	6.95	8.04	2.5
Trading Asset Securities	32.24	35.01	22.76	20.06	36.16	12.19
Cash & Short-Term Investments	41.68	49.93	37.63	45.49	72.76	82.26
Cash Growth	103.14%	32.71%	-17.28%	-37.48%	-11.56%	279.02%
Accounts Receivable	1.78	2.18	1.84	5.73	4.78	2.77
Other Receivables	0.09	0.09	3.53	7.77	1.08	0.99
Receivables	3.95	5.93	11.13	26.25	18.94	16.69
Inventory	30.26	37.76	47.5	44.5	49.76	37.82
Prepaid Expenses	6.09	2.5	4.87	1.06	1.37	0.7
Total Current Assets	81.98	96.12	101.13	117.29	142.82	137.47
Property, Plant & Equipment	8.97	5.17	15.01	20.22	27.56	25.52
Other Long-Term Assets	2.01	2.41	1.69	3.08	2.56	2.98
Total Assets	92.95	103.7	117.83	140.58	172.94	165.97
Accounts Payable	0.6	1.99	1.45	0.47	1.42	9.32
Accrued Expenses	7.83	7.81	6.49	7.15	8.7	10.62
Current Portion of Leases	6.56	7.05	7.48	8.67	12.27	11.21
Current Income Taxes Payable	0.28	0.28	0.28	0.48	0.54	0.44
Current Unearned Revenue	-	0.01	0.06	0.3	2.3	0.55
Other Current Liabilities	2.5	2.33	4	3.27	6.56	10.87
Total Current Liabilities	17.77	19.46	19.76	20.34	31.78	43
Long-Term Debt	6.89	7.13	6.98	-	-	-
Long-Term Leases	6.81	4.6	5.99	7.27	6.21	10.22
Other Long-Term Liabilities	0.27	0.27	0.27	0.25	0.25	0.19
Total Liabilities	31.74	31.46	33.01	27.86	38.24	53.42
Common Stock	42.28	42.28	35.23	35.23	28.48	28.48
Additional Paid-In Capital	271.74	271.74	265.05	265.05	251.86	251.86
Retained Earnings	-229.56	-218.54	-198.23	-170.35	-128.89	-149.42
Comprehensive Income & Other	-23.25	-23.25	-17.23	-17.21	-17.62	-17.61
Total Common Equity	61.21	72.24	84.82	112.72	133.83	113.3
Minority Interest	-	-	-	-	0.88	-0.75
Shareholders' Equity	61.21	72.24	84.82	112.72	134.7	112.55
Total Liabilities & Equity	92.95	103.7	117.83	140.58	172.94	165.97
Total Debt	20.26	18.78	20.45	15.95	18.48	21.43
Net Cash (Debt)	21.42	31.15	17.17	29.54	54.28	60.83
Net Cash Growth	-	81.42%	-41.87%	-45.58%	-10.77%	1444.33%
Net Cash Per Share	0.02	0.03	0.02	0.04	0.08	0.23
Filing Date Shares Outstanding	1,057	1,057	880.79	880.79	711.93	711.93
Total Common Shares Outstanding	1,057	1,057	880.79	880.79	711.93	711.93
Working Capital	64.21	76.65	81.37	96.95	111.04	94.47
Book Value Per Share	0.06	0.07	0.10	0.13	0.19	0.16
Tangible Book Value	61.21	72.24	84.82	112.72	133.83	113.3
Tangible Book Value Per Share	0.06	0.07	0.10	0.13	0.19	0.16
Machinery	-	17.7	17.7	17.59	20.02	18.79
Leasehold Improvements	-	7.31	7.07	17.58	24.46	23.52

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