Fulu Holdings 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	324.3	310.44	147.35	149.83	209.45
Short-Term Investments	9	-	-	-	-
Trading Asset Securities	39.52	91.84	12.55	26.62	17.01
Cash & Short-Term Investments	372.82	402.28	159.9	176.45	226.45
Cash Growth	-7.32%	151.58%	-9.38%	-22.08%	-50.97%
Accounts Receivable	595.07	526.42	581.44	531.74	319.25
Other Receivables	119.05	89.79	118.89	69.73	69.11
Receivables	714.12	616.21	700.33	601.47	388.35
Inventory	368.39	475.62	-	-	-
Prepaid Expenses	9.81	15.69	33.07	3.77	4.76
Restricted Cash	2.81	101.62	81.73	23.32	2.63
Other Current Assets	88.01	94.49	700.63	682.83	721.53
Total Current Assets	1,556	1,706	1,676	1,488	1,344
Property, Plant & Equipment	9.34	9.58	17.66	18.17	11.51
Long-Term Investments	-	-	-	-	0.04
Goodwill	0.67	0.67	0.67	0.67	0.67
Other Intangible Assets	16.05	27.86	31.31	26.17	16.31
Long-Term Deferred Tax Assets	15.08	20.01	17.35	22.62	5.05
Other Long-Term Assets	-	-	20	20	-
Total Assets	1,597	1,764	1,763	1,575	1,377
Accounts Payable	140.99	90.24	113.11	100.63	45.92
Accrued Expenses	150.64	126.64	140.62	111.87	77.42
Current Portion of Long-Term Debt	10	170.71	139.65	40	10
Current Portion of Leases	5.06	3.87	6.84	5.44	2.76
Current Income Taxes Payable	11.61	6.2	8.07	14.34	6.72
Current Unearned Revenue	71.26	75.57	84.6	73.91	60.7
Other Current Liabilities	7.27	7.33	7.43	10.14	3.92
Total Current Liabilities	396.82	480.55	500.3	356.32	207.43
Long-Term Leases	1.97	1.97	4.98	8.77	5.95
Total Liabilities	398.8	482.52	505.28	365.1	213.38
Common Stock	0.28	0.28	0.28	0.28	0.28
Additional Paid-In Capital	-	-	521.53	564.39	625.33
Retained Earnings	556.42	536.93	569.17	477.56	379.68
Comprehensive Income & Other	663.84	761.14	181.06	174.73	158.65
Total Common Equity	1,221	1,298	1,272	1,217	1,164
Minority Interest	-22.25	-16.85	-14.69	-6.57	-
Shareholders' Equity	1,198	1,282	1,257	1,210	1,164
Total Liabilities & Equity	1,597	1,764	1,763	1,575	1,377
Total Debt	17.04	176.55	151.46	54.21	18.7
Net Cash (Debt)	355.78	225.73	8.44	122.24	207.75
Net Cash Growth	57.61%	2576.14%	-93.10%	-41.16%	-34.89%
Net Cash Per Share	0.88	0.56	0.02	0.30	0.52
Filing Date Shares Outstanding	406.02	408.64	408.64	406.47	403.32
Total Common Shares Outstanding	406.02	408.64	408.64	406.47	403.32
Working Capital	1,159	1,225	1,175	1,132	1,136
Book Value Per Share	3.01	3.18	3.11	2.99	2.89
Tangible Book Value	1,204	1,270	1,240	1,190	1,147
Tangible Book Value Per Share	2.96	3.11	3.03	2.93	2.84
Machinery	5.36	7.33	7.12	4.74	4.23
Leasehold Improvements	9.25	8.21	7.92	6.48	4.3