Guangzhou R&F Properties 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	956.2	787.39	1,727	2,177	6,259
Cash & Short-Term Investments	956.2	787.39	1,727	2,177	6,259
Cash Growth	21.44%	-54.41%	-20.66%	-65.22%	-75.62%
Accounts Receivable	2,161	2,582	3,773	5,755	6,673
Other Receivables	40,915	31,595	25,898	30,323	30,843
Receivables	43,077	34,177	29,670	36,078	37,516
Inventory	144,837	165,181	180,464	191,788	202,270
Prepaid Expenses	3,391	4,154	4,306	4,859	4,703
Restricted Cash	2,103	3,076	4,015	10,124	14,845
Other Current Assets	4,050	4,765	6,151	6,980	9,603
Total Current Assets	198,414	212,141	226,334	252,006	275,196
Property, Plant & Equipment	21,954	23,931	53,634	55,549	57,844
Long-Term Investments	10,355	15,656	12,249	13,586	16,068
Goodwill	-	29.2	40.9	509.43	509.43
Other Intangible Assets	477.68	483.69	526.93	546.24	615.85
Long-Term Deferred Tax Assets	8,911	8,892	10,340	12,974	13,366
Other Long-Term Assets	28,755	29,459	31,743	33,750	34,943
Total Assets	268,866	290,593	334,868	368,921	398,542
Accounts Payable	34,718	40,302	37,571	38,705	50,694
Short-Term Debt	2,689	1,567	5,838	5,363	9,226
Current Portion of Long-Term Debt	97,885	99,732	48,394	43,868	58,559
Current Portion of Leases	14.13	19.37	62.6	67	78.93
Current Income Taxes Payable	25,543	24,695	23,313	20,758	19,978
Current Unearned Revenue	21,123	23,530	29,096	46,210	50,130
Other Current Liabilities	63,450	53,971	52,765	52,248	48,495
Total Current Liabilities	245,421	243,817	197,039	207,219	237,161
Long-Term Debt	6,495	9,980	80,734	83,776	67,170
Long-Term Leases	19.38	33.51	316.07	395.69	392.54
Long-Term Deferred Tax Liabilities	8,778	8,306	10,387	10,590	10,959
Total Liabilities	260,714	262,136	288,476	301,980	315,684
Common Stock	3,752	3,752	3,752	3,752	3,752
Additional Paid-In Capital	-	6,202	6,202	6,200	6,200
Retained Earnings	-17,517	3,760	18,974	39,138	54,875
Comprehensive Income & Other	9,658	2,207	4,768	5,339	5,361
Total Common Equity	-4,106	15,922	33,696	54,429	70,188
Minority Interest	12,258	12,534	12,696	12,512	12,671
Shareholders' Equity	8,152	28,457	46,392	66,941	82,859
Total Liabilities & Equity	268,866	290,593	334,868	368,921	398,542
Total Debt	107,102	111,332	135,345	133,469	135,427
Net Cash (Debt)	-106,146	-110,544	-133,617	-131,292	-129,168
Net Cash Per Share	-28.29	-29.46	-35.61	-34.99	-34.42
Filing Date Shares Outstanding	3,752	3,752	3,752	3,752	3,752
Total Common Shares Outstanding	3,752	3,752	3,752	3,752	3,752
Working Capital	-47,008	-31,676	29,295	44,787	38,034
Book Value Per Share	-1.09	4.24	8.98	14.51	18.71
Tangible Book Value	-4,584	15,410	33,128	53,373	69,063
Tangible Book Value Per Share	-1.22	4.11	8.83	14.22	18.41
Buildings	-	19,806	47,923	47,397	48,829
Machinery	-	4,835	5,734	5,814	4,782
Construction In Progress	-	3,662	5,875	6,259	6,436

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