Bairong 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	725.96	739.23	913.99	888.51	3,346
Short-Term Investments	1,586	2,264	430.57	24.44	25.83
Trading Asset Securities	590.92	480.57	724.23	848.74	300.33
Cash & Short-Term Investments	2,903	3,484	2,069	1,762	3,673
Cash Growth	-16.68%	68.39%	17.43%	-52.03%	324.45%
Accounts Receivable	487.27	611.82	519.25	361.66	250.56
Other Receivables	-	175.98	128.8	54.76	-
Receivables	732.17	903.06	716.22	418.38	250.56
Inventory	-	-	211.56	247.94	135.73
Prepaid Expenses	78.71	16.8	2.13	7.64	7.42
Restricted Cash	1.55	0.21	5.72	16.99	82.88
Other Current Assets	-	451.95	79.41	78.81	81.35
Total Current Assets	3,715	4,856	3,084	2,531	4,231
Property, Plant & Equipment	244.79	206.16	101.06	114.73	132.31
Long-Term Investments	1,304	543.19	2,142	2,375	256.13
Goodwill	24.65	34.05	119.47	180.01	180.01
Other Intangible Assets	29.69	30.62	47.43	54.21	62.93
Long-Term Deferred Tax Assets	18.41	17	3.46	4.56	5.39
Other Long-Term Assets	7.21	8.61	8.31	7.74	5.72
Total Assets	5,344	5,695	5,506	5,267	4,873
Accounts Payable	151.57	256.66	301.86	165.34	94.62
Accrued Expenses	387.03	396.49	352.19	266.02	211.64
Short-Term Debt	-	-	91.36	45	51
Current Portion of Leases	45.78	36.4	39.07	50.65	35.3
Current Income Taxes Payable	17.11	18	0.52	-	-
Current Unearned Revenue	38.99	62.18	81.58	60.73	48.35
Other Current Liabilities	-	290.21	167.22	323.65	194.58
Total Current Liabilities	640.48	1,060	1,034	911.38	635.49
Long-Term Leases	79.12	90.5	14.09	35.87	71.86
Long-Term Deferred Tax Liabilities	7.52	18.22	8.97	9.61	11.21
Total Liabilities	727.13	1,169	1,057	956.87	718.56
Common Stock	0.07	0.06	0.06	0.07	0.06
Retained Earnings	-	633.47	367.29	-4,821	-5,061
Treasury Stock	-108.17	-298.73	-185.58	-148.84	-60.74
Comprehensive Income & Other	4,715	4,182	4,257	9,266	9,251
Total Common Equity	4,607	4,517	4,439	4,295	4,129
Minority Interest	9.88	9.57	9.72	14.92	25.54
Shareholders' Equity	4,617	4,527	4,449	4,310	4,155
Total Liabilities & Equity	5,344	5,695	5,506	5,267	4,873
Total Debt	124.9	126.9	144.51	131.52	158.16
Net Cash (Debt)	2,778	3,357	1,924	1,630	3,514
Net Cash Growth	-17.25%	74.44%	18.04%	-53.62%	-
Net Cash Per Share	6.06	7.05	3.85	3.17	8.94
Filing Date Shares Outstanding	443.07	441.27	471.01	484.91	500.35
Total Common Shares Outstanding	443.07	441.27	471.01	484.91	500.35
Working Capital	3,074	3,796	2,050	1,620	3,595
Book Value Per Share	10.40	10.24	9.42	8.86	8.25
Tangible Book Value	4,553	4,452	4,272	4,061	3,886
Tangible Book Value Per Share	10.28	10.09	9.07	8.38	7.77
Machinery	-	163.62	115.95	93.26	73.07
Leasehold Improvements	-	39.15	35.82	34.69	30.93

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