Folangsi 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	176.3	205.39	200.76	120.64	188.16
Short-Term Investments	-	12.86	9.43	8.5	-
Cash & Short-Term Investments	176.3	218.25	210.19	129.14	188.16
Cash Growth	-19.22%	3.84%	62.76%	-31.37%	125.05%
Accounts Receivable	427.72	389.23	373.96	294.04	269.61
Other Receivables	-	52.08	80.13	84.27	79.95
Receivables	427.72	441.31	454.1	378.3	349.56
Inventory	160.23	163.95	91.01	84.5	69.17
Restricted Cash	41.23	50.49	73.13	30.85	44.76
Other Current Assets	62.61	19.49	18.08	13.26	18.25
Total Current Assets	868.08	893.48	846.5	636.05	669.91
Property, Plant & Equipment	3,020	2,683	2,172	1,906	1,786
Long-Term Investments	13.52	12.33	10.8	10.56	8.87
Other Intangible Assets	28.85	36.71	7.88	8.68	3.86
Long-Term Deferred Tax Assets	6.91	6.35	5.76	4.83	4.31
Other Long-Term Assets	175.21	149.48	104.55	96.51	86.17
Total Assets	4,112	3,781	3,148	2,662	2,559
Accounts Payable	350.16	389.27	306.67	262.56	235.45
Accrued Expenses	-	-	-	-	22.53
Short-Term Debt	-	24.12	-	-	-
Current Portion of Long-Term Debt	245.23	309.49	245.43	174.11	157.41
Current Portion of Leases	580.92	497.33	402.58	353.91	321.78
Current Income Taxes Payable	4.01	2.7	0.78	-	0.76
Current Unearned Revenue	-	-	-	-	8.97
Other Current Liabilities	201.94	172	161.83	112.85	71.7
Total Current Liabilities	1,382	1,395	1,117	903.44	818.59
Long-Term Debt	609.23	423.47	453.62	406.97	391.01
Long-Term Leases	847.66	756.2	481.23	432.19	459.6
Long-Term Deferred Tax Liabilities	2.72	3.41	0.58	0.65	-
Other Long-Term Liabilities	19.58	24.5	18.26	19.78	25.87
Total Liabilities	2,861	2,602	2,071	1,763	1,695
Common Stock	87.01	87.01	87.01	83.97	83.97
Additional Paid-In Capital	-	688.35	688.35	545.27	545.79
Retained Earnings	-	402.88	300.92	269.7	234.3
Comprehensive Income & Other	1,164	0.51	0.51	0.51	-
Shareholders' Equity	1,251	1,179	1,077	899.46	864.06
Total Liabilities & Equity	4,112	3,781	3,148	2,662	2,559
Total Debt	2,283	2,011	1,583	1,367	1,330
Net Cash (Debt)	-2,107	-1,792	-1,373	-1,238	-1,142
Net Cash Per Share	-6.05	-5.15	-4.06	-3.69	-3.48
Filing Date Shares Outstanding	348.02	348.02	348.02	335.89	327.75
Total Common Shares Outstanding	348.02	348.02	348.02	335.89	327.75
Working Capital	-514.18	-501.44	-270.79	-267.38	-148.69
Book Value Per Share	3.59	3.39	3.09	2.68	2.64
Tangible Book Value	1,222	1,142	1,069	890.78	860.2
Tangible Book Value Per Share	3.51	3.28	3.07	2.65	2.62
Buildings	-	340.41	340.41	241.04	130.77
Machinery	-	1,900	1,493	1,267	1,180
Construction In Progress	-	10.63	4.33	39.94	71.02
Leasehold Improvements	-	22.98	17.81	14.17	11.81

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