First Service Holding 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	437.17	439.02	509.83	396.07	495.83
Short-Term Investments	-	14.33	9.3	34.81	34.9
Trading Asset Securities	267.47	299.06	56.07	107.62	97.59
Cash & Short-Term Investments	704.64	752.41	575.19	538.5	628.31
Cash Growth	-6.35%	30.81%	6.81%	-14.29%	-25.43%
Accounts Receivable	564.74	402.03	441.46	434.94	365.97
Other Receivables	-	45.86	33.07	33.93	22.25
Receivables	564.74	447.88	474.52	468.87	388.22
Inventory	1.22	1.65	1.61	0.81	0.81
Restricted Cash	19.76	14.97	24.61	24.28	21.87
Other Current Assets	0.23	92.63	90.45	37.36	30.24
Total Current Assets	1,291	1,310	1,166	1,070	1,069
Property, Plant & Equipment	43.79	41.23	18.78	14.95	11.62
Long-Term Investments	20.78	25.85	8.74	8.81	5.54
Goodwill	91.6	179.84	179.84	181.7	181.7
Other Intangible Assets	30.54	33.44	36.22	39.66	40.51
Long-Term Deferred Tax Assets	81.62	73.79	44.73	38.81	34.2
Other Long-Term Assets	18.96	20.76	17.24	15.56	14.87
Total Assets	1,578	1,684	1,472	1,369	1,358
Accounts Payable	431.08	181.75	156.45	143.89	118.8
Accrued Expenses	-	75.64	78.23	69.25	62.11
Short-Term Debt	0.48	-	-	-	20.51
Current Portion of Leases	0.37	0.31	-	-	-
Current Income Taxes Payable	7.3	12.76	11.11	7.05	16.96
Current Unearned Revenue	320.87	327.96	302.98	279.65	274.86
Other Current Liabilities	212.06	405.78	200.46	166.86	148.57
Total Current Liabilities	972.17	1,004	749.22	666.69	641.81
Long-Term Leases	1.98	2.35	-	-	-
Long-Term Deferred Tax Liabilities	5.21	6.56	8.85	7.56	8.84
Other Long-Term Liabilities	-	-	-	20.66	33.7
Total Liabilities	979.36	1,013	758.07	694.9	684.35
Common Stock	0	0	0	0	0
Additional Paid-In Capital	-	443.64	471.49	498.29	589.13
Retained Earnings	-	253.19	265.26	208.13	133.6
Comprehensive Income & Other	537.39	-77.62	-79.26	-77.14	-85.26
Total Common Equity	537.39	619.21	657.49	629.28	637.48
Minority Interest	61.13	52.12	56.38	45.13	36.04
Shareholders' Equity	598.51	671.33	713.87	674.41	673.52
Total Liabilities & Equity	1,578	1,684	1,472	1,369	1,358
Total Debt	2.83	2.66	-	-	20.51
Net Cash (Debt)	701.81	749.75	575.19	538.5	607.8
Net Cash Growth	-6.39%	30.35%	6.81%	-11.40%	-27.86%
Net Cash Per Share	0.63	0.61	0.59	0.54	0.61
Filing Date Shares Outstanding	1,285	1,264	1,000	1,000	1,000
Total Common Shares Outstanding	1,285	1,264	1,000	1,000	1,000
Working Capital	318.41	305.32	417.17	403.14	427.64
Book Value Per Share	0.42	0.49	0.66	0.63	0.64
Tangible Book Value	415.24	405.93	441.43	407.92	415.28
Tangible Book Value Per Share	0.32	0.32	0.44	0.41	0.42
Buildings	-	3.51	2.49	-	-
Machinery	-	42.44	29.6	25.28	21.43
Construction In Progress	-	2.85	3.95	4.13	1.63

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