Mulsanne Group Holding 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	156.29	186.89	192.42	252.19	677.23	771.69
Cash & Short-Term Investments	156.29	186.89	192.42	252.19	677.23	771.69
Cash Growth	-20.48%	-2.87%	-23.70%	-62.76%	-12.24%	-5.98%
Accounts Receivable	160.62	303.38	334.53	361.66	427.07	632.21
Other Receivables	-	-	159.69	172.58	136.25	223.83
Receivables	160.62	303.38	494.22	534.24	563.32	856.04
Inventory	491.66	590.42	566.68	683.49	840.37	806.39
Prepaid Expenses	-	-	29.38	22.83	29.88	44.9
Other Current Assets	665.2	637.07	506.93	706.94	100.89	129.49
Total Current Assets	1,474	1,718	1,790	2,200	2,212	2,609
Property, Plant & Equipment	591.68	608.48	512.61	528.44	533.17	415.02
Long-Term Investments	2.64	2.64	4.54	6.39	11.83	10.45
Other Intangible Assets	41.23	45.25	50.81	38.59	43.31	28.91
Long-Term Deferred Tax Assets	175.96	183.02	209.73	217.4	223.31	159.31
Other Long-Term Assets	50.52	53.41	446.95	529.65	-	-
Total Assets	2,336	2,611	3,014	3,520	3,023	3,222
Accounts Payable	229.01	412.85	374.64	439.37	474.92	621.15
Accrued Expenses	60.41	90.7	121.04	116.08	130.51	165.46
Short-Term Debt	944.54	903.47	827.33	1,141	263.85	46.46
Current Portion of Long-Term Debt	-	-	60.13	43.07	708.03	237.57
Current Portion of Leases	86.04	102.79	71.59	109.64	114.71	87.03
Current Income Taxes Payable	1.15	2.62	17.44	20.31	41.09	18.11
Current Unearned Revenue	48.69	18	21.2	49.05	63.99	50.85
Other Current Liabilities	100.38	215.53	282.5	197.04	229.97	245.8
Total Current Liabilities	1,470	1,746	1,776	2,115	2,027	1,472
Long-Term Debt	-	-	442.35	588.24	87.68	757.17
Long-Term Leases	110.34	109.58	47.84	88.88	128.79	126.4
Long-Term Deferred Tax Liabilities	9.78	19.52	36.65	39.08	39.31	51.51
Total Liabilities	1,590	1,875	2,303	2,832	2,283	2,408
Common Stock	8.34	8.34	8.34	8.34	8.34	8.34
Additional Paid-In Capital	734.67	734.67	734.67	734.67	734.67	734.67
Retained Earnings	-540.41	-549.28	-580.24	-621.43	-634.76	-545.08
Comprehensive Income & Other	542.84	541.76	548.03	562.81	625.06	616.39
Total Common Equity	745.45	735.49	710.8	684.4	733.32	814.33
Minority Interest	-	-	0.77	4.08	7.16	0.38
Shareholders' Equity	745.45	735.49	711.57	688.48	740.47	814.71
Total Liabilities & Equity	2,336	2,611	3,014	3,520	3,023	3,222
Total Debt	1,141	1,116	1,449	1,971	1,303	1,255
Net Cash (Debt)	-984.64	-928.95	-1,257	-1,719	-625.83	-482.94
Net Cash Per Share	-1.08	-1.02	-1.38	-1.88	-0.69	-0.53
Filing Date Shares Outstanding	950	950	950	950	950	950
Total Common Shares Outstanding	950	950	950	950	950	950
Working Capital	3.54	-28.21	13.77	84.21	184.63	1,136
Book Value Per Share	0.78	0.77	0.75	0.72	0.77	0.86
Tangible Book Value	704.22	690.23	660	645.81	690.01	785.42
Tangible Book Value Per Share	0.74	0.73	0.69	0.68	0.73	0.83
Buildings	-	281.8	281.8	-	-	-
Machinery	-	103.73	104.72	101.52	95.41	74.16
Construction In Progress	-	24.8	5.04	205.95	149.42	92.03
Leasehold Improvements	-	236.01	261	253.23	250.04	222.21

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