Tongdao Liepin Group 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	952.42	810.24	666.73	476.48	495.78
Short-Term Investments	1,239	2,068	1,973	2,424	938.6
Cash & Short-Term Investments	2,191	2,878	2,639	2,900	1,434
Cash Growth	-23.87%	9.05%	-8.99%	102.19%	-47.50%
Accounts Receivable	223.88	205.65	146.29	160.73	93.54
Other Receivables	65.58	88.6	101.95	90.07	113.87
Receivables	289.46	296.36	250.55	253.04	214.42
Restricted Cash	-	-	-	-	2
Other Current Assets	61.38	73	71.43	65.3	77.06
Total Current Assets	2,542	3,248	2,961	3,219	1,728
Property, Plant & Equipment	93.54	128.94	154.63	233.12	230.73
Long-Term Investments	470.87	228.08	416.09	437.78	1,866
Goodwill	840.18	840.18	840.18	855.65	855.65
Other Intangible Assets	67.93	84.91	104.28	125.43	177.08
Long-Term Deferred Tax Assets	18.7	15.62	15.63	17.58	20.86
Other Long-Term Assets	311.55	38.69	36.56	36.15	7.51
Total Assets	4,345	4,584	4,529	4,924	4,886
Accounts Payable	79.09	90.47	82.75	136.11	54.04
Accrued Expenses	243.46	234.41	266.49	328.45	395.68
Short-Term Debt	65.37	58.02	20.22	8.71	-
Current Portion of Leases	29.81	56.58	59.88	64.68	66.72
Current Income Taxes Payable	7.35	7.21	3.34	9.17	33.03
Current Unearned Revenue	771.94	786.48	796.44	829.2	988.62
Other Current Liabilities	56.78	27.96	64.86	78.1	45.82
Total Current Liabilities	1,254	1,261	1,294	1,454	1,584
Long-Term Leases	24.47	33.04	53.88	104.77	80.21
Long-Term Deferred Tax Liabilities	5.51	8.03	11.34	18.85	26.38
Total Liabilities	1,284	1,302	1,359	1,578	1,690
Common Stock	0.33	0.33	0.34	0.34	0.34
Additional Paid-In Capital	2,612	2,830	2,831	2,837	2,810
Retained Earnings	601.41	498.81	366.86	366.11	321.74
Comprehensive Income & Other	-326.7	-265.02	-305.07	-128.72	-149.7
Total Common Equity	2,887	3,064	2,893	3,074	2,983
Minority Interest	173.99	217.67	276.73	271.72	212.87
Shareholders' Equity	3,061	3,282	3,170	3,346	3,195
Total Liabilities & Equity	4,345	4,584	4,529	4,924	4,886
Total Debt	119.66	147.64	133.98	178.17	146.93
Net Cash (Debt)	2,072	2,731	2,505	2,722	1,287
Net Cash Growth	-24.13%	8.98%	-7.96%	111.43%	-50.82%
Net Cash Per Share	4.31	5.71	5.20	5.40	2.50
Filing Date Shares Outstanding	504.91	514.48	479.39	524.78	523.79
Total Common Shares Outstanding	504.91	514.48	479.39	524.78	523.79
Working Capital	1,288	1,986	1,667	1,764	143.95
Book Value Per Share	5.72	5.96	6.03	5.86	5.69
Tangible Book Value	1,979	2,139	1,948	2,093	1,950
Tangible Book Value Per Share	3.92	4.16	4.06	3.99	3.72
Buildings	18.82	18.82	18.74	18.74	18.34
Machinery	89.09	91.31	83	77.29	61.06
Leasehold Improvements	84.3	76.35	65.72	61.62	54.67

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