Zhixin Group 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	42.88	19.04	25.87	17.48	107.2
Cash & Short-Term Investments	42.88	19.04	25.87	17.48	107.2
Cash Growth	125.27%	-26.41%	47.95%	-83.69%	251.64%
Accounts Receivable	394.78	451.22	596.84	692.39	634.41
Other Receivables	-	12.93	11.49	8.9	5.76
Receivables	394.78	464.15	608.33	701.29	640.17
Inventory	11.87	31.79	89.67	48.1	48.85
Restricted Cash	-	-	0.5	0	8.71
Other Current Assets	38.39	16.26	14.22	17.61	4.89
Total Current Assets	487.91	531.23	738.59	784.47	809.82
Property, Plant & Equipment	676.29	512.67	509.12	494.95	324.7
Long-Term Investments	10	-	-	-	-
Goodwill	39.3	39.3	39.3	39.3	39.3
Other Intangible Assets	0.09	0.11	0.16	0.22	0.16
Long-Term Accounts Receivable	8.42	13.81	24.89	25.39	30.73
Long-Term Deferred Tax Assets	6.57	4.45	5.02	4.41	3.39
Other Long-Term Assets	60.57	31.09	35.18	36.36	40.83
Total Assets	1,289	1,133	1,352	1,385	1,249
Accounts Payable	349.88	299.17	328.51	348.41	328.29
Accrued Expenses	9.18	23.91	21.31	25.79	41.34
Short-Term Debt	27.44	38.06	11.87	19.59	-
Current Portion of Long-Term Debt	150.85	197.56	290.48	282.3	259.04
Current Portion of Leases	-	-	-	-	7.83
Current Income Taxes Payable	5.39	1.83	6.93	1.72	10.53
Current Unearned Revenue	4.16	5.05	4.39	2.28	1.9
Other Current Liabilities	33.15	38.14	54.05	64.58	71.54
Total Current Liabilities	580.05	603.72	717.53	744.67	720.46
Long-Term Debt	351.8	132.69	163.71	186.21	65.95
Long-Term Leases	-	-	-	-	4.42
Long-Term Unearned Revenue	35.68	12.06	11.14	1.84	2.12
Long-Term Deferred Tax Liabilities	2.21	6.23	6.72	9.32	14.17
Total Liabilities	969.73	754.71	899.1	942.03	807.12
Common Stock	6.36	6.36	6.36	6.36	6.36
Additional Paid-In Capital	-	220.97	220.97	220.97	220.97
Retained Earnings	-51.6	23.49	98.69	88.61	87.36
Comprehensive Income & Other	364.66	127.14	127.14	127.14	127.14
Shareholders' Equity	319.42	377.95	453.15	443.07	441.82
Total Liabilities & Equity	1,289	1,133	1,352	1,385	1,249
Total Debt	530.09	368.31	466.06	488.1	337.23
Net Cash (Debt)	-487.2	-349.27	-440.2	-470.61	-230.04
Net Cash Per Share	-0.65	-0.47	-0.59	-0.63	-0.33
Filing Date Shares Outstanding	748	748	748	748	748
Total Common Shares Outstanding	748	748	748	748	748
Working Capital	-92.13	-72.48	21.06	39.81	89.36
Book Value Per Share	0.43	0.51	0.61	0.59	0.59
Tangible Book Value	280.03	338.55	413.69	403.56	402.36
Tangible Book Value Per Share	0.37	0.45	0.55	0.54	0.54
Buildings	251.91	229.54	229.05	97.36	96.92
Machinery	240.55	261.51	292.74	189.37	186.83
Construction In Progress	240.67	78.04	19.54	221.78	31.96

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