Gushengtang 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	882.33	1,116	1,301	994.33	1,031
Short-Term Investments	165.41	20.63	-	-	-
Trading Asset Securities	-	-	30.31	30.01	-
Cash & Short-Term Investments	1,048	1,137	1,332	1,024	1,031
Cash Growth	-7.86%	-14.61%	30.00%	-0.62%	188.44%
Receivables	257.4	269.44	179.93	89.41	72.7
Inventory	194.54	179.49	152.95	104.86	77.36
Restricted Cash	31.09	19.32	12.69	-	3.57
Other Current Assets	325.5	207.27	160.41	141	112.5
Total Current Assets	1,856	1,813	1,838	1,360	1,297
Property, Plant & Equipment	636.87	531.8	443.45	339.33	312.95
Long-Term Investments	68.69	99.77	30.53	6.07	11
Goodwill	1,327	1,133	984.69	816.67	688.62
Other Intangible Assets	32.17	21.56	24.76	27.76	31.43
Long-Term Deferred Tax Assets	43.03	33.55	34.39	40.41	40.16
Other Long-Term Assets	28.01	24.34	23.93	28.41	10.81
Total Assets	3,992	3,656	3,379	2,618	2,392
Accounts Payable	302.19	307.67	286.62	164.31	161.33
Accrued Expenses	136.8	76.09	82.46	-	-
Current Portion of Long-Term Debt	118.22	7.89	16.43	18.21	17.48
Current Portion of Leases	97.39	80.5	76.85	57.42	57.46
Current Income Taxes Payable	75.31	52.38	33.65	14.42	8.13
Current Unearned Revenue	90.51	46.16	42.23	-	-
Other Current Liabilities	331.71	192.61	169.99	299.96	276.74
Total Current Liabilities	1,152	763.31	708.23	554.32	521.14
Long-Term Debt	188.49	92.21	-	52.96	66.84
Long-Term Leases	379.91	327.97	277.3	222.7	203.59
Long-Term Deferred Tax Liabilities	5.61	4.78	6.23	14.21	6.19
Other Long-Term Liabilities	81.97	91.57	81.5	56.06	44.64
Total Liabilities	1,808	1,280	1,073	900.25	842.39
Common Stock	0.15	0.16	0.16	0.15	0.15
Additional Paid-In Capital	3,046	3,573	3,684	3,087	3,087
Retained Earnings	-778.46	-1,131	-1,410	-1,572	-1,751
Treasury Stock	-225.61	-157.02	-12.15	-	-
Comprehensive Income & Other	127.43	90.74	43.06	202.27	213.39
Total Common Equity	2,170	2,376	2,305	1,717	1,549
Minority Interest	14.41	0.37	1.09	1.12	0.52
Shareholders' Equity	2,184	2,376	2,306	1,718	1,549
Total Liabilities & Equity	3,992	3,656	3,379	2,618	2,392
Total Debt	784.01	508.56	370.57	351.29	345.37
Net Cash (Debt)	263.74	628.51	961.04	673.06	685.34
Net Cash Growth	-58.04%	-34.60%	42.79%	-1.79%	-
Net Cash Per Share	1.09	2.50	3.93	2.82	5.92
Filing Date Shares Outstanding	234.52	244.13	246.3	230.4	230.4
Total Common Shares Outstanding	234.52	244.13	246.3	230.4	230.4
Working Capital	704.15	1,049	1,129	805.29	775.7
Book Value Per Share	9.25	9.73	9.36	7.45	6.72
Tangible Book Value	810.35	1,222	1,296	872.46	828.85
Tangible Book Value Per Share	3.46	5.00	5.26	3.79	3.60
Machinery	144.9	117.11	93.41	76.84	63.44
Leasehold Improvements	346.27	280.11	224.45	174.69	151.62

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