Mulsanne Group Holding 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	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	182.55	186.89	192.42	252.19	677.23
Cash & Short-Term Investments	182.55	186.89	192.42	252.19	677.23
Cash Growth	-2.32%	-2.87%	-23.70%	-62.76%	-12.24%
Accounts Receivable	237.4	303.38	334.53	361.66	427.07
Other Receivables	-	-	159.69	172.58	136.25
Receivables	237.4	303.38	494.22	534.24	563.32
Inventory	461.54	590.42	566.68	683.49	840.37
Prepaid Expenses	-	-	29.38	22.83	29.88
Other Current Assets	209.09	637.07	506.93	706.94	100.89
Total Current Assets	1,091	1,718	1,790	2,200	2,212
Property, Plant & Equipment	595.89	608.48	512.61	528.44	533.17
Long-Term Investments	2.53	2.64	4.54	6.39	11.83
Other Intangible Assets	39.84	45.25	50.81	38.59	43.31
Long-Term Deferred Tax Assets	173.95	183.02	209.73	217.4	223.31
Other Long-Term Assets	49.06	53.41	446.95	529.65	-
Total Assets	1,952	2,611	3,014	3,520	3,023
Accounts Payable	303.35	412.85	374.64	439.37	474.92
Accrued Expenses	2.28	90.7	121.04	116.08	130.51
Short-Term Debt	411.25	903.47	827.33	1,141	263.85
Current Portion of Long-Term Debt	-	-	60.13	43.07	708.03
Current Portion of Leases	100.91	102.79	71.59	109.64	114.71
Current Income Taxes Payable	-	2.62	17.44	20.31	41.09
Current Unearned Revenue	9.51	18	21.2	49.05	63.99
Other Current Liabilities	289.83	215.53	282.5	197.04	229.97
Total Current Liabilities	1,117	1,746	1,776	2,115	2,027
Long-Term Debt	-	-	442.35	588.24	87.68
Long-Term Leases	62.6	109.58	47.84	88.88	128.79
Long-Term Deferred Tax Liabilities	2.97	19.52	36.65	39.08	39.31
Total Liabilities	1,183	1,875	2,303	2,832	2,283
Common Stock	8.34	8.34	8.34	8.34	8.34
Additional Paid-In Capital	-	734.67	734.67	734.67	734.67
Retained Earnings	-	-549.28	-580.24	-621.43	-634.76
Comprehensive Income & Other	760.8	541.76	548.03	562.81	625.06
Total Common Equity	769.14	735.49	710.8	684.4	733.32
Minority Interest	-	-	0.77	4.08	7.16
Shareholders' Equity	769.14	735.49	711.57	688.48	740.47
Total Liabilities & Equity	1,952	2,611	3,014	3,520	3,023
Total Debt	574.75	1,116	1,449	1,971	1,303
Net Cash (Debt)	-392.2	-928.95	-1,257	-1,719	-625.83
Net Cash Per Share	-0.43	-1.02	-1.38	-1.88	-0.69
Filing Date Shares Outstanding	910.21	950	950	950	950
Total Common Shares Outstanding	910.21	950	950	950	950
Working Capital	-26.55	-28.21	13.77	84.21	184.63
Book Value Per Share	0.85	0.77	0.75	0.72	0.77
Tangible Book Value	729.31	690.23	660	645.81	690.01
Tangible Book Value Per Share	0.80	0.73	0.69	0.68	0.73
Buildings	-	281.8	281.8	-	-
Machinery	-	103.73	104.72	101.52	95.41
Construction In Progress	-	24.8	5.04	205.95	149.42
Leasehold Improvements	-	236.01	261	253.23	250.04

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.