Zall Smart Commerce 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	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	1,510	1,546	1,783	1,341	1,096
Trading Asset Securities	77.18	15.47	20.19	124.31	132.87
Cash & Short-Term Investments	1,587	1,561	1,803	1,466	1,229
Cash Growth	1.64%	-13.41%	23.03%	19.29%	-9.94%
Accounts Receivable	6,052	8,943	8,067	8,519	6,327
Other Receivables	1,512	2,763	1,765	2,589	1,150
Receivables	8,209	13,034	11,311	12,489	8,555
Inventory	3,779	3,976	4,780	4,508	3,804
Prepaid Expenses	27.2	7.17	7.21	7.22	8.17
Other Current Assets	20,175	24,039	19,581	16,762	19,585
Total Current Assets	33,777	42,618	37,482	35,232	33,181
Property, Plant & Equipment	343.46	336.04	348.14	291.52	278.9
Long-Term Investments	621.44	454.03	304.14	213.69	212.64
Goodwill	-	251.5	251.5	251.5	518.58
Other Intangible Assets	417.47	416.89	428.29	444.99	467.63
Long-Term Accounts Receivable	54.37	30.56	30.42	30.42	30.06
Long-Term Deferred Tax Assets	444.99	498.41	468.05	419.37	405.41
Other Long-Term Assets	26,068	24,879	24,466	23,476	24,181
Total Assets	61,726	69,485	63,779	60,359	59,275
Accounts Payable	8,667	14,780	13,961	11,694	9,579
Short-Term Debt	1,338	6,109	5,390	8,810	7,807
Current Portion of Long-Term Debt	11,745	6,983	6,035	4,576	5,692
Current Portion of Leases	11.69	6.9	17.08	10.83	14.31
Current Income Taxes Payable	420.12	564.93	547.03	498.84	501.57
Current Unearned Revenue	13,676	14,925	10,395	6,454	3,476
Other Current Liabilities	4,012	3,976	3,966	4,631	6,558
Total Current Liabilities	39,870	47,343	40,312	36,674	33,627
Long-Term Debt	2,655	3,263	4,863	5,310	4,389
Long-Term Leases	23.92	22.83	16.9	3.13	6.22
Long-Term Unearned Revenue	1.42	1.86	3.3	6.11	8.31
Long-Term Deferred Tax Liabilities	4,770	4,511	4,376	4,218	4,465
Total Liabilities	47,321	55,142	49,572	46,211	42,496
Common Stock	34.45	34.45	34.45	34.45	32.73
Additional Paid-In Capital	-	4,767	4,767	4,767	4,512
Retained Earnings	-	8,994	8,865	8,814	11,854
Comprehensive Income & Other	14,048	155.65	137.64	136.35	55.77
Total Common Equity	14,082	13,951	13,804	13,752	16,455
Minority Interest	323.28	391.74	402.42	396.05	324.62
Shareholders' Equity	14,406	14,343	14,207	14,148	16,779
Total Liabilities & Equity	61,726	69,485	63,779	60,359	59,275
Total Debt	15,774	16,384	16,323	18,709	17,908
Net Cash (Debt)	-14,187	-14,823	-14,520	-17,244	-16,680
Net Cash Per Share	-1.14	-1.20	-1.17	-1.41	-1.42
Filing Date Shares Outstanding	12,400	12,400	12,400	12,400	11,783
Total Common Shares Outstanding	12,400	12,400	12,400	12,400	11,783
Working Capital	-6,093	-4,725	-2,830	-1,442	-446.51
Book Value Per Share	1.14	1.13	1.11	1.11	1.40
Tangible Book Value	13,665	13,283	13,124	13,056	15,469
Tangible Book Value Per Share	1.10	1.07	1.06	1.05	1.31
Machinery	-	147.87	203.03	169.33	159.78
Construction In Progress	-	43.63	5.33	28.07	0.44

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