Busy Ming Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	3,737	1,936	1,721	388.27
Short-Term Investments	332.05	367.31	82	72.31
Trading Asset Securities	-	30.11	-	50
Cash & Short-Term Investments	4,069	2,333	1,803	510.57
Cash Growth	74.36%	29.43%	253.10%	-
Accounts Receivable	7.39	153.11	60.03	3.63
Other Receivables	273.85	287.86	71.09	22.88
Receivables	281.25	440.97	131.12	26.52
Inventory	2,490	1,674	632.18	200.17
Restricted Cash	7.69	5.09	10.04	12.2
Other Current Assets	1,305	1,660	318.93	13.07
Total Current Assets	8,153	6,114	2,895	762.52
Property, Plant & Equipment	934.21	513.75	292.3	69.83
Long-Term Investments	104.04	75.97	61.67	-
Goodwill	2,250	2,250	2,250	-
Other Intangible Assets	1,033	1,030	1,020	5.94
Long-Term Deferred Tax Assets	92.14	159.57	102.71	28.75
Other Long-Term Assets	34.28	24.97	76.11	65.98
Total Assets	12,601	10,168	6,699	933.01
Accounts Payable	1,177	1,495	602.12	117.81
Accrued Expenses	805.82	472.34	315.11	32.18
Short-Term Debt	-	491	-	-
Current Portion of Leases	199.48	110.64	74.92	19.86
Current Income Taxes Payable	295.32	219.06	102	6.84
Current Unearned Revenue	933.27	763.22	404.66	48.51
Other Current Liabilities	586.25	352.81	124.87	29.96
Total Current Liabilities	3,997	3,904	1,624	255.15
Long-Term Leases	179.37	147.27	66.68	31.83
Long-Term Unearned Revenue	86.05	139.97	160.63	53.84
Long-Term Deferred Tax Liabilities	246.45	249.09	252.94	0.09
Other Long-Term Liabilities	7.55	-	-	-
Total Liabilities	4,517	4,440	2,104	340.92
Common Stock	200	-	-	-
Additional Paid-In Capital	-	24.72	15.3	5.5
Retained Earnings	2,926	912.41	110.99	87.73
Comprehensive Income & Other	4,958	4,791	4,461	498.87
Total Common Equity	8,084	5,728	4,588	592.09
Minority Interest	-	-	7.25	-
Shareholders' Equity	8,084	5,728	4,595	592.09
Total Liabilities & Equity	12,601	10,168	6,699	933.01
Total Debt	378.85	748.91	141.6	51.69
Net Cash (Debt)	3,690	1,585	1,661	458.88
Net Cash Growth	132.86%	-4.62%	262.02%	-
Net Cash Per Share	18.66	12.28	34.00	12.51
Filing Date Shares Outstanding	200	147.05	48.86	36.69
Total Common Shares Outstanding	200	147.05	48.86	36.69
Working Capital	4,156	2,210	1,271	507.37
Book Value Per Share	40.42	38.95	93.89	16.14
Tangible Book Value	4,801	2,448	1,317	586.16
Tangible Book Value Per Share	24.01	16.65	26.95	15.98
Machinery	144.06	94.92	50.21	21.7
Construction In Progress	307.33	60.06	5.82	3.29
Leasehold Improvements	91.35	37.82	12.86	4.26