Dowell Service Group Co. Limited (HKG:2352)

Dowell Service Group Co. Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	214.59	299.07	261.7	256.6	221.74	249.16
Short-Term Investments	-	30.4	26.89	22.26	15.17	9.39
Cash & Short-Term Investments	214.59	329.47	288.59	278.86	236.91	258.55
Cash Growth	21.07%	14.17%	3.49%	17.71%	-8.37%	6.17%
Accounts Receivable	694.16	588.56	595	638.24	567.43	394.18
Other Receivables	7.9	29.76	26.13	30.37	15.36	18.16
Receivables	702.06	618.32	621.13	668.61	582.79	412.33
Inventory	42.71	41.29	37.8	43.28	40.03	51.82
Restricted Cash	2.05	6.27	2.81	0.35	0.67	-
Other Current Assets	30.39	39.11	49.86	43.03	38.49	53.08
Total Current Assets	991.79	1,034	1,000	1,034	898.89	775.79
Property, Plant & Equipment	135.27	147.79	124.72	136.71	42.46	30.25
Long-Term Investments	21.64	19.7	24.64	20.71	19.77	24.12
Goodwill	-	212.07	212.07	212.07	188.91	76.73
Other Intangible Assets	273.76	66.59	75.58	86.02	91.57	37.47
Long-Term Deferred Tax Assets	25.57	25.32	23.99	20.5	13.14	8.44
Long-Term Deferred Charges	11.83	12.29	13.34	13.98	11.82	8.65
Other Long-Term Assets	2.04	2.52	9.73	4.32	4.22	2.56
Total Assets	1,462	1,521	1,484	1,528	1,271	964.01

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	393.59	395.91	317.9	300.13	258.89	180.79
Accrued Expenses	294.23	123.03	130.63	149.22	126.27	110.6
Short-Term Debt	-	-	-	9.26	-	-
Current Portion of Leases	10.22	9.43	11.82	16.76	4.15	3.85
Current Income Taxes Payable	5.71	9.27	4.38	4.65	8.16	5.21
Current Unearned Revenue	271.28	317.48	337.56	296.48	228.6	194.63
Other Current Liabilities	-	178.37	174.04	145.64	139.82	191.31
Total Current Liabilities	975.03	1,033	976.33	922.15	765.9	686.39
Long-Term Leases	28.96	33.52	79.19	74.57	4.03	6.52
Long-Term Unearned Revenue	7.26	7.83	8.36	6.86	-	-
Long-Term Deferred Tax Liabilities	7.95	9.02	11.17	17	15.19	9.04
Other Long-Term Liabilities	-	-	-	1	2	4
Total Liabilities	1,019	1,084	1,075	1,022	787.11	705.96

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	66.99	66.99	66.99	66.99	66.99	50
Additional Paid-In Capital	-	107.85	107.85	107.85	107.85	-
Retained Earnings	87.57	151.98	126.17	197.48	228.61	146.14
Comprehensive Income & Other	266.74	86.15	82.22	110.22	59.09	53.08
Total Common Equity	421.3	412.97	383.24	482.54	462.54	249.22
Minority Interest	21.39	23.91	25.97	24.33	21.12	8.83
Shareholders' Equity	442.69	436.88	409.2	506.87	483.66	258.05
Total Liabilities & Equity	1,462	1,521	1,484	1,528	1,271	964.01

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	39.18	42.95	91.01	100.59	8.18	10.37
Net Cash (Debt)	175.41	286.52	197.58	178.27	228.74	248.18
Net Cash Growth	25.22%	45.01%	10.83%	-22.06%	-7.83%	15.75%
Net Cash Per Share	2.59	4.28	2.95	2.66	3.72	4.96
Filing Date Shares Outstanding	69.46	66.99	66.99	66.99	66.99	50
Total Common Shares Outstanding	69.46	66.99	66.99	66.99	66.99	50
Working Capital	16.76	0.96	23.85	111.99	133	89.4
Book Value Per Share	6.07	6.16	5.72	7.20	6.90	4.98
Tangible Book Value	147.54	134.31	95.59	184.45	182.07	135.02
Tangible Book Value Per Share	2.12	2.00	1.43	2.75	2.72	2.70
Buildings	-	35.38	0.64	0.64	0.64	0.64
Machinery	-	61.4	56.33	55.86	40.92	32.69
Leasehold Improvements	-	76.35	64.27	57.93	24.22	6.33

Data Source: S&P Global Market Intelligence Last updated: Dec 31, 2025

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Aug 22, 2026

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