XXF Group 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	371.84	340.6	267.73	201.08	79.37
Short-Term Investments	-	33.87	19.15	18.53	24.27
Cash & Short-Term Investments	371.84	374.47	286.89	219.61	103.65
Cash Growth	-0.70%	30.53%	30.64%	111.88%	309.56%
Accounts Receivable	858.27	770.65	699.15	570	471.14
Other Receivables	-	156.16	127.32	121.7	105.33
Receivables	858.27	926.81	826.47	691.7	576.47
Inventory	254.96	287.76	218.36	255.87	203.1
Prepaid Expenses	493.85	75.9	66.96	64.42	54.8
Restricted Cash	3.9	-	5.65	4.53	5
Other Current Assets	-	-	44.5	5.17	4.48
Total Current Assets	1,983	1,665	1,449	1,241	947.5
Property, Plant & Equipment	641.27	494.33	428.07	367.7	353.14
Long-Term Investments	48.3	48.53	20.02	21.65	25.99
Other Intangible Assets	21.43	20.62	19.7	21.78	24.12
Long-Term Accounts Receivable	1,104	1,051	967.38	910.27	832.57
Long-Term Deferred Tax Assets	6.81	-	-	3.9	6.62
Other Long-Term Assets	22.46	30.6	36.89	32.16	13.04
Total Assets	3,827	3,310	2,921	2,599	2,203
Accounts Payable	42.69	80.58	135.52	105.86	68.46
Accrued Expenses	-	34.25	22.87	27.68	20.57
Current Portion of Long-Term Debt	1,464	1,152	919.95	828.57	726.6
Current Portion of Leases	6.67	5.72	6.76	6.09	5.78
Current Income Taxes Payable	18.52	14.06	9.58	8.79	11.23
Current Unearned Revenue	-	10	5.57	6.99	1.64
Other Current Liabilities	83.94	45.24	81.55	215.55	260.43
Total Current Liabilities	1,616	1,342	1,182	1,200	1,095
Long-Term Debt	1,323	1,130	945.71	884.84	656.22
Long-Term Leases	5.78	5.48	8.14	7.77	8.52
Long-Term Deferred Tax Liabilities	3.87	5	3.8	-	-
Total Liabilities	2,949	2,482	2,139	2,092	1,759
Common Stock	4.66	4.66	4.66	2.86	2.86
Additional Paid-In Capital	-	485.19	485.19	326.07	326.07
Retained Earnings	-	345.27	305.3	192.82	113.91
Comprehensive Income & Other	867.62	-12.98	-19.65	-21.51	-7.53
Total Common Equity	872.28	822.13	775.49	500.24	435.3
Minority Interest	5.67	5.72	5.96	6.38	8.21
Shareholders' Equity	877.94	827.85	781.45	506.61	443.51
Total Liabilities & Equity	3,827	3,310	2,921	2,599	2,203
Total Debt	2,800	2,293	1,881	1,727	1,397
Net Cash (Debt)	-2,428	-1,918	-1,594	-1,508	-1,293
Net Cash Per Share	-1.48	-1.18	-1.24	-1.22	-1.12
Filing Date Shares Outstanding	1,547	1,547	1,547	959.24	959.24
Total Common Shares Outstanding	1,547	1,547	1,547	959.24	959.24
Working Capital	366.6	323.17	267.03	41.77	-147.23
Book Value Per Share	0.56	0.53	0.50	0.52	0.45
Tangible Book Value	850.85	801.51	755.79	478.46	411.18
Tangible Book Value Per Share	0.55	0.52	0.49	0.50	0.43
Buildings	4.64	4.64	4.64	4.64	4.64
Machinery	899.63	745.63	644.92	541.39	521.54
Leasehold Improvements	31.7	30.31	29.28	26.41	26.07

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