YuanShengTai Dairy Farm 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	670.87	637.59	959.07	576.31	959.41	1,030
Short-Term Investments	422.53	303.71	70.88	232.33	-	-
Cash & Short-Term Investments	1,093	941.3	1,030	808.64	959.41	1,030
Cash Growth	-1.61%	-8.61%	27.37%	-15.72%	-6.82%	1.96%
Accounts Receivable	1.67	35.05	82.59	26.02	52.87	131.08
Receivables	1.67	35.05	82.59	26.02	52.87	131.08
Inventory	459.28	672.95	794.47	787.54	543.31	316.61
Restricted Cash	-	21.81	37.55	-	-	-
Other Current Assets	29.68	20.77	9.17	6.58	5.31	6.29
Total Current Assets	1,584	1,692	1,954	1,629	1,561	1,484
Property, Plant & Equipment	6,063	6,207	6,108	5,931	4,992	4,157
Long-Term Deferred Tax Assets	1.47	1.54	-	-	-	-
Other Long-Term Assets	40.89	43.62	284.82	381.38	135.59	142.62
Total Assets	7,690	7,944	8,347	7,941	6,688	5,783
Accounts Payable	268.26	445.33	476.6	388.67	282.25	194.75
Short-Term Debt	-	164.63	250	120	-	-
Current Portion of Long-Term Debt	316.38	234.58	224.84	-	-	-
Current Portion of Leases	13.87	13.52	49.34	20.29	11.56	9.47
Current Income Taxes Payable	2.06	2.11	0.64	-	-	-
Current Unearned Revenue	668.53	706.13	786.53	713.86	365.1	13.39
Other Current Liabilities	295.21	345.21	378.28	418.6	317.14	412.83
Total Current Liabilities	1,564	1,912	2,166	1,661	976.06	630.44
Long-Term Debt	465.7	485.05	872.84	716.53	190	-
Long-Term Leases	15.85	30.19	157.22	92.08	67.05	67.65
Long-Term Unearned Revenue	460.06	450.25	384.03	383.13	402.41	188.75
Long-Term Deferred Tax Liabilities	-	-	1.82	-	-	-
Total Liabilities	2,506	2,877	3,582	2,853	1,636	886.84
Common Stock	37.67	37.67	37.67	37.67	37.67	37.67
Additional Paid-In Capital	3,433	3,433	3,433	3,433	3,433	3,433
Retained Earnings	1,486	1,367	1,070	1,410	1,387	1,230
Comprehensive Income & Other	227.56	229.61	224.24	207.84	195.34	196.03
Shareholders' Equity	5,184	5,067	4,765	5,088	5,053	4,896
Total Liabilities & Equity	7,690	7,944	8,347	7,941	6,688	5,783
Total Debt	811.8	927.97	1,554	948.91	268.61	77.11
Net Cash (Debt)	281.6	13.33	-524.29	-140.27	690.8	952.47
Net Cash Growth	-	-	-	-	-27.47%	-5.68%
Net Cash Per Share	0.06	0.00	-0.11	-0.03	0.15	0.20
Filing Date Shares Outstanding	4,690	4,690	4,690	4,690	4,690	4,690
Total Common Shares Outstanding	4,690	4,690	4,690	4,690	4,690	4,690
Working Capital	19.73	-219.65	-212.5	-32.64	584.84	853.12
Book Value Per Share	1.11	1.08	1.02	1.08	1.08	1.04
Tangible Book Value	5,184	5,067	4,765	5,088	5,053	4,896
Tangible Book Value Per Share	1.11	1.08	1.02	1.08	1.08	1.04
Buildings	-	3,985	3,758	3,442	2,849	2,713
Machinery	-	993.74	883.32	785.74	622.39	547.29
Construction In Progress	-	73.78	323.94	535.14	533.34	112.46

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