Dmall 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	860.03	801.05	533.17	533.05	368.72
Short-Term Investments	-	1.97	2.34	1.65	1.16
Trading Asset Securities	82.15	87.1	34.94	9.03	15.05
Cash & Short-Term Investments	942.18	890.11	570.44	543.73	384.93
Cash Growth	5.85%	56.04%	4.91%	41.26%	-
Accounts Receivable	347.07	250.75	168.38	142.11	94.7
Other Receivables	-	69.81	45.22	44.56	55.68
Receivables	347.07	320.56	213.6	186.66	150.38
Inventory	18.82	5.92	19.41	2.7	5.32
Prepaid Expenses	86.72	-	-	-	-
Restricted Cash	-	56.6	20.93	56.09	-
Other Current Assets	-	10.34	19.8	21.75	107.5
Total Current Assets	1,395	1,284	844.18	810.92	648.12
Property, Plant & Equipment	72.06	69.81	76.8	74.45	75.83
Long-Term Investments	-	0.59	196.77	153.22	145.9
Goodwill	106.3	151.99	151.99	151.89	151.89
Other Intangible Assets	114.33	144.07	83.68	93.2	105.32
Long-Term Deferred Tax Assets	41.32	4.26	4.26	2.09	1.66
Other Long-Term Assets	5.43	4.93	20.08	21.39	152.39
Total Assets	1,734	1,659	1,378	1,307	1,281
Accounts Payable	107.33	88.66	50.14	23.4	13.05
Accrued Expenses	153.88	140.58	215.69	244.74	186.3
Short-Term Debt	-	2.84	2.75	-	64.8
Current Portion of Long-Term Debt	312.63	442.45	7,165	6,449	5,149
Current Portion of Leases	23.42	23.58	25.43	16.03	17.57
Current Income Taxes Payable	0.11	0.2	0	-	0.05
Current Unearned Revenue	139.27	88.68	91.29	49.47	44.51
Other Current Liabilities	-	131.27	243.48	329.37	440.88
Total Current Liabilities	736.63	918.27	7,794	7,112	5,916
Long-Term Debt	21	84.35	320.68	253.59	79.1
Long-Term Leases	11.28	3.87	15.16	4.28	8.04
Long-Term Deferred Tax Liabilities	9.14	10.82	12.5	14.19	15.9
Other Long-Term Liabilities	0.61	0.86	0.96	0.62	1.64
Total Liabilities	778.66	1,018	8,143	7,385	6,020
Common Stock	0.62	0.59	0.32	0.32	0.32
Additional Paid-In Capital	-	10,073	-	-	-
Retained Earnings	-	-8,793	-6,597	-6,005	-5,198
Treasury Stock	-	-47.12	-	-	-
Comprehensive Income & Other	898.67	-668.12	-267.83	-155.87	374.83
Total Common Equity	899.29	565.68	-6,865	-6,161	-4,822
Minority Interest	56.28	75.35	99.7	83.13	83.16
Shareholders' Equity	955.57	641.03	-6,765	-6,077	-4,739
Total Liabilities & Equity	1,734	1,659	1,378	1,307	1,281
Total Debt	368.33	557.09	7,529	6,723	5,318
Net Cash (Debt)	573.85	333.02	-6,958	-6,179	-4,933
Net Cash Growth	72.32%	-	-	-	-
Net Cash Per Share	0.63	0.60	-13.25	-11.77	-10.35
Filing Date Shares Outstanding	921.73	895.56	525.15	525.15	476.62
Total Common Shares Outstanding	921.73	895.56	525.15	525.15	476.62
Working Capital	658.16	365.27	-6,949	-6,301	-5,268
Book Value Per Share	0.98	0.63	-13.07	-11.73	-10.12
Tangible Book Value	678.66	269.61	-7,101	-6,406	-5,080
Tangible Book Value Per Share	0.74	0.30	-13.52	-12.20	-10.66
Buildings	-	18.76	5.46	5.46	5.46
Machinery	-	71.22	88.29	108.03	112.9
Leasehold Improvements	-	39.71	39.83	38.84	11.85

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.