Cheerwin 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	1,431	1,186	1,543	1,341	2,558
Short-Term Investments	1,511	1,689	1,229	1,382	110
Cash & Short-Term Investments	2,942	2,875	2,773	2,723	2,668
Cash Growth	2.33%	3.67%	1.84%	2.04%	201.57%
Accounts Receivable	38.83	31.41	32.3	36.69	18.95
Other Receivables	59.47	64.42	42.48	66.96	60.07
Receivables	98.3	95.83	74.77	103.65	79.02
Inventory	258.68	328.49	275.17	329.51	349.88
Prepaid Expenses	11.53	7.62	8.52	4.53	6.63
Other Current Assets	19.51	15.08	10.84	-	-
Total Current Assets	3,330	3,322	3,142	3,160	3,104
Property, Plant & Equipment	203.78	200.85	190.85	187.57	195.12
Long-Term Investments	282.4	218.37	410.09	146.03	66.9
Goodwill	-	-	6.28	3.93	-
Other Intangible Assets	-	-	9.7	11.65	-
Long-Term Deferred Tax Assets	65.84	60.4	76.99	68.06	54.13
Other Long-Term Assets	0.42	0.41	0.17	0.62	2.82
Total Assets	3,882	3,802	3,836	3,578	3,423
Accounts Payable	215.52	248.33	239.75	243.79	292.9
Accrued Expenses	226.48	201.01	252.51	230.07	193.57
Short-Term Debt	10	-	-	-	-
Current Portion of Leases	19.06	18.99	11.21	6.2	5.52
Current Income Taxes Payable	14.35	5.44	16.32	3.24	7.12
Current Unearned Revenue	335.42	292.94	334.74	243.72	169.07
Other Current Liabilities	12.1	15.27	13.21	7.89	9.83
Total Current Liabilities	832.92	781.98	867.74	734.91	678
Long-Term Leases	30.31	30.49	16.81	10.41	9.39
Long-Term Deferred Tax Liabilities	-	-	11.41	8.27	-
Other Long-Term Liabilities	-	-	2.71	-	-
Total Liabilities	863.22	812.47	898.67	753.59	687.39
Common Stock	0	0	0	0	0
Additional Paid-In Capital	-	2,465	2,465	2,465	2,465
Retained Earnings	-	355.12	308.81	222.83	270.47
Comprehensive Income & Other	3,024	170.45	153.24	129.13	-2.02
Total Common Equity	3,024	2,991	2,927	2,817	2,734
Minority Interest	-4.96	-1.65	10.11	7.3	1.5
Shareholders' Equity	3,019	2,989	2,937	2,825	2,735
Total Liabilities & Equity	3,882	3,802	3,836	3,578	3,423
Total Debt	59.36	49.48	28.02	16.61	14.91
Net Cash (Debt)	2,882	2,825	2,745	2,706	2,653
Net Cash Growth	2.02%	2.93%	1.43%	1.99%	359.13%
Net Cash Per Share	2.16	2.12	2.06	2.03	2.09
Filing Date Shares Outstanding	1,333	1,333	1,333	1,333	1,333
Total Common Shares Outstanding	1,333	1,333	1,333	1,333	1,333
Working Capital	2,497	2,540	2,274	2,425	2,426
Book Value Per Share	2.27	2.24	2.20	2.11	2.05
Tangible Book Value	3,024	2,991	2,911	2,802	2,734
Tangible Book Value Per Share	2.27	2.24	2.18	2.10	2.05
Buildings	-	127.03	127.03	124.97	117.06
Machinery	-	149.16	139.31	123.1	113.17
Construction In Progress	-	-	-	-	3.34

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