Shanshan Brand Management 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	59.1	106.46	143.22	114.69	84.27	111.33
Trading Asset Securities	0.45	0.65	0.26	0.28	-	-
Cash & Short-Term Investments	59.56	107.1	143.48	114.97	84.27	111.33
Cash Growth	-22.02%	-25.36%	24.80%	36.44%	-24.31%	-19.02%
Accounts Receivable	200.39	239.83	223.12	205.41	175.46	162.83
Other Receivables	0.04	0.62	0.62	2.34	1.08	1.09
Receivables	200.43	240.45	223.75	207.75	176.54	163.92
Inventory	242.2	278.22	230.36	311.94	389.73	428.47
Other Current Assets	41.79	29.61	25.76	47.09	65	54.71
Total Current Assets	543.97	655.39	623.35	681.75	715.53	758.43
Property, Plant & Equipment	173.6	126.69	65.28	31.96	63.24	80.08
Long-Term Investments	8.4	8.14	7.61	10.33	13.32	12.6
Other Intangible Assets	4	4.89	6.51	8.31	5.99	5.78
Long-Term Deferred Tax Assets	20.52	20.27	19	23.57	19.18	21.41
Other Long-Term Assets	5.17	4.18	4.64	2.66	8.17	10.32
Total Assets	755.67	819.55	726.39	758.58	825.43	888.61
Accounts Payable	114.63	216.08	151.56	155.33	160.4	168.67
Short-Term Debt	-	145	135	157.5	172.88	202.24
Current Portion of Leases	17.84	11.47	7.44	9.24	13.83	19.35
Current Income Taxes Payable	2.36	6.12	2.71	-	-	20.69
Current Unearned Revenue	23.44	31.81	34.37	28.45	31.56	43.17
Other Current Liabilities	138	115.12	119.83	160.67	213.58	204.32
Total Current Liabilities	441.27	525.6	450.91	511.19	592.24	658.43
Long-Term Leases	2.74	6.21	3.48	5.92	13.98	23.51
Long-Term Unearned Revenue	-	-	0.88	1.89	-	-
Other Long-Term Liabilities	10.74	11.46	17.35	12.07	7.71	-
Total Liabilities	477.99	543.27	472.61	531.07	613.93	681.94
Common Stock	133.4	133.4	133.4	133.4	133.4	133.4
Retained Earnings	112.39	110.99	88.49	62.22	46.22	33.84
Comprehensive Income & Other	31.88	31.88	31.88	31.88	31.88	31.88
Total Common Equity	277.67	276.28	253.77	227.51	211.5	199.13
Minority Interest	-	-	-	-	-	7.55
Shareholders' Equity	277.67	276.28	253.77	227.51	211.5	206.68
Total Liabilities & Equity	755.67	819.55	726.39	758.58	825.43	888.61
Total Debt	188.82	162.68	145.92	172.66	200.68	245.1
Net Cash (Debt)	-129.26	-55.58	-2.44	-57.69	-116.42	-133.77
Net Cash Per Share	-0.97	-0.42	-0.02	-0.43	-0.87	-1.00
Filing Date Shares Outstanding	133.4	133.4	133.4	133.4	133.4	133.4
Total Common Shares Outstanding	133.4	133.4	133.4	133.4	133.4	133.4
Working Capital	102.7	129.78	172.44	170.55	123.29	99.99
Book Value Per Share	2.08	2.07	1.90	1.71	1.59	1.49
Tangible Book Value	273.67	271.39	247.27	219.19	205.51	193.35
Tangible Book Value Per Share	2.05	2.03	1.85	1.64	1.54	1.45
Machinery	-	132.08	138.05	124.63	119.04	111.06
Construction In Progress	-	49.96	-	-	-	-
Leasehold Improvements	-	2.31	2.14	2.14	2.14	12.31

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