Fulu Holdings 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	354.25	310.44	147.35	149.83	209.45	457.89
Trading Asset Securities	127.05	91.84	12.55	26.62	17.01	3.98
Cash & Short-Term Investments	481.3	402.28	159.9	176.45	226.45	461.88
Cash Growth	123.18%	151.58%	-9.38%	-22.08%	-50.97%	5041.66%
Accounts Receivable	565.02	526.42	581.44	531.74	319.25	168.39
Other Receivables	84.18	89.79	118.89	69.73	69.11	18.53
Receivables	649.2	616.21	700.33	601.47	388.35	186.92
Prepaid Expenses	8.09	15.69	33.07	3.77	4.76	1.39
Restricted Cash	-81.1	101.62	81.73	23.32	2.63	15.95
Other Current Assets	645.56	570.11	700.63	682.83	721.53	561.85
Total Current Assets	1,703	1,706	1,676	1,488	1,344	1,228
Property, Plant & Equipment	11.94	9.58	17.66	18.17	11.51	5.5
Long-Term Investments	9	-	-	-	0.04	0.04
Goodwill	0.67	0.67	0.67	0.67	0.67	0.67
Other Intangible Assets	25.23	27.86	31.31	26.17	16.31	6.6
Long-Term Deferred Tax Assets	17.27	20.01	17.35	22.62	5.05	8.02
Other Long-Term Assets	-	-	20	20	-	145
Total Assets	1,767	1,764	1,763	1,575	1,377	1,394
Accounts Payable	166.08	90.24	113.11	100.63	45.92	38.2
Accrued Expenses	-	126.64	140.62	111.87	77.42	43.85
Current Portion of Long-Term Debt	95.7	170.71	139.65	40	10	138.8
Current Portion of Leases	4.57	3.87	6.84	5.44	2.76	2.21
Current Income Taxes Payable	4.11	6.2	8.07	14.34	6.72	8.25
Current Unearned Revenue	-	75.57	84.6	73.91	60.7	38.03
Other Current Liabilities	185.6	7.33	7.43	10.14	3.92	16.59
Total Current Liabilities	456.05	480.55	500.3	356.32	207.43	285.93
Long-Term Leases	4.69	1.97	4.98	8.77	5.95	1.81
Total Liabilities	460.74	482.52	505.28	365.1	213.38	287.74
Common Stock	0.28	0.28	0.28	0.28	0.28	0.27
Additional Paid-In Capital	521.53	521.53	521.53	564.39	625.33	731.22
Retained Earnings	619.47	589.34	569.17	477.56	379.68	311.45
Comprehensive Income & Other	188.09	187.21	181.06	174.73	158.65	63.14
Total Common Equity	1,325	1,298	1,272	1,217	1,164	1,106
Minority Interest	-18.49	-16.85	-14.69	-6.57	-	-
Shareholders' Equity	1,306	1,282	1,257	1,210	1,164	1,106
Total Liabilities & Equity	1,767	1,764	1,763	1,575	1,377	1,394
Total Debt	104.96	176.55	151.46	54.21	18.7	142.82
Net Cash (Debt)	376.34	225.73	8.44	122.24	207.75	319.05
Net Cash Growth	946.97%	2576.14%	-93.10%	-41.16%	-34.89%	-
Net Cash Per Share	0.92	0.55	0.02	0.30	0.52	0.97
Filing Date Shares Outstanding	406.02	408.64	408.64	406.47	403.32	400
Total Common Shares Outstanding	406.02	408.64	408.64	406.47	403.32	400
Working Capital	1,247	1,225	1,175	1,132	1,136	942.06
Book Value Per Share	3.26	3.18	3.11	2.99	2.89	2.77
Tangible Book Value	1,299	1,270	1,240	1,190	1,147	1,099
Tangible Book Value Per Share	3.20	3.11	3.03	2.93	2.84	2.75
Machinery	-	7.33	7.12	4.74	4.23	3.98
Leasehold Improvements	-	8.21	7.92	6.48	4.3	2.18

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