Zall Smart Commerce Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	862.88	1,510	1,546	1,783	1,341	1,096
Trading Asset Securities	109.72	16.6	15.47	20.19	124.31	132.87
Cash & Short-Term Investments	972.6	1,526	1,561	1,803	1,466	1,229
Cash Growth	-36.67%	-2.24%	-13.41%	23.03%	19.29%	-9.94%
Accounts Receivable	4,074	5,518	8,943	8,067	8,519	6,327
Other Receivables	1,536	1,837	2,763	1,765	2,589	1,150
Receivables	5,931	8,209	13,034	11,311	12,489	8,555
Inventory	4,097	3,779	3,976	4,780	4,508	3,804
Prepaid Expenses	26.05	7.17	7.17	7.21	7.22	8.17
Other Current Assets	14,232	20,255	24,039	19,581	16,762	19,585
Total Current Assets	25,259	33,777	42,618	37,482	35,232	33,181
Property, Plant & Equipment	336.92	343.46	336.04	348.14	291.52	278.9
Long-Term Investments	628.66	621.44	454.03	304.14	213.69	212.64
Goodwill	-	-	251.5	251.5	251.5	518.58
Other Intangible Assets	394.38	417.47	416.89	428.29	444.99	467.63
Long-Term Accounts Receivable	54.53	54.37	30.56	30.42	30.42	30.06
Long-Term Deferred Tax Assets	483.82	444.99	498.41	468.05	419.37	405.41
Other Long-Term Assets	25,453	26,068	24,879	24,466	23,476	24,181
Total Assets	52,611	61,726	69,485	63,779	60,359	59,275

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Accounts Payable	5,853	8,667	14,780	13,961	11,694	9,579
Short-Term Debt	2,698	5,173	6,109	5,390	8,810	7,807
Current Portion of Long-Term Debt	7,786	7,909	6,983	6,035	4,576	5,692
Current Portion of Leases	12.28	11.69	6.9	17.08	10.83	14.31
Current Income Taxes Payable	381.15	420.12	564.93	547.03	498.84	501.57
Current Unearned Revenue	11,896	13,676	14,925	10,395	6,454	3,476
Other Current Liabilities	3,999	4,012	3,976	3,966	4,631	6,558
Total Current Liabilities	32,626	39,870	47,343	40,312	36,674	33,627
Long-Term Debt	2,294	2,655	3,263	4,863	5,310	4,389
Long-Term Leases	22.87	23.92	22.83	16.9	3.13	6.22
Long-Term Unearned Revenue	1.2	1.42	1.86	3.3	6.11	8.31
Long-Term Deferred Tax Liabilities	4,483	4,770	4,511	4,376	4,218	4,465
Total Liabilities	39,427	47,321	55,142	49,572	46,211	42,496

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Common Stock	34.45	34.45	34.45	34.45	34.45	32.73
Additional Paid-In Capital	-	4,767	4,767	4,767	4,767	4,512
Retained Earnings	-	9,142	8,994	8,865	8,814	11,854
Comprehensive Income & Other	12,882	139.27	155.65	137.64	136.35	55.77
Total Common Equity	12,917	14,082	13,951	13,804	13,752	16,455
Minority Interest	267.12	323.28	391.74	402.42	396.05	324.62
Shareholders' Equity	13,184	14,406	14,343	14,207	14,148	16,779
Total Liabilities & Equity	52,611	61,726	69,485	63,779	60,359	59,275

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Total Debt	12,814	15,774	16,384	16,323	18,709	17,908
Net Cash (Debt)	-11,841	-14,247	-14,823	-14,520	-17,244	-16,680
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.95	-1.15	-1.20	-1.17	-1.41	-1.42
Filing Date Shares Outstanding	12,400	12,400	12,400	12,400	12,400	11,783
Total Common Shares Outstanding	12,400	12,400	12,400	12,400	12,400	11,783
Working Capital	-7,367	-6,093	-4,725	-2,830	-1,442	-446.51
Book Value Per Share	1.04	1.14	1.13	1.11	1.11	1.40
Tangible Book Value	12,522	13,665	13,283	13,124	13,056	15,469
Tangible Book Value Per Share	1.01	1.10	1.07	1.06	1.05	1.31
Machinery	-	159.44	147.87	203.03	169.33	159.78
Construction In Progress	-	31.97	43.63	5.33	28.07	0.44