Adicon Holdings 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	1,103	1,044	959.42	1,681	1,109
Trading Asset Securities	4.55	-	50.84	-	-
Cash & Short-Term Investments	1,108	1,044	1,010	1,681	1,109
Cash Growth	6.12%	3.32%	-39.89%	51.52%	-9.72%
Accounts Receivable	1,326	1,377	1,515	1,857	1,214
Other Receivables	98.8	-	-	-	-
Receivables	1,425	1,377	1,515	1,857	1,214
Inventory	129.28	126.94	176.59	229.41	109.4
Other Current Assets	349.45	502.52	601.08	127.86	105.72
Total Current Assets	3,011	3,051	3,303	3,895	2,538
Property, Plant & Equipment	539.11	564.24	598.38	594.28	439.52
Long-Term Investments	86.43	-	1.54	8.1	-
Goodwill	117.21	79.8	79.8	79.8	25.69
Other Intangible Assets	179.05	154.06	151.42	143.71	20.5
Long-Term Accounts Receivable	2.56	2.51	2.47	2.12	1.82
Long-Term Deferred Tax Assets	133.64	129.18	103.97	118.4	74.56
Other Long-Term Assets	734.14	704.54	312.58	12.84	9.65
Total Assets	4,804	4,685	4,554	4,854	3,110
Accounts Payable	703.94	722.9	743.97	1,124	546.86
Accrued Expenses	307.78	367.85	455.06	610.51	430.73
Short-Term Debt	-	-	-	69.68	42
Current Portion of Long-Term Debt	763.93	467.98	95.87	43.11	7.14
Current Portion of Leases	58.86	60.71	49.2	51.4	31.65
Current Income Taxes Payable	21.04	30.27	77.79	124.55	50.3
Current Unearned Revenue	24.05	31.14	36.49	21.06	20.68
Other Current Liabilities	217.38	244.29	298.64	374.59	258.41
Total Current Liabilities	2,097	1,925	1,757	2,418	1,388
Long-Term Debt	704.72	837.94	791.65	1,613	712.66
Long-Term Leases	123.3	124.52	153.12	182.46	146.3
Long-Term Deferred Tax Liabilities	25.33	22.74	23.17	28.5	10.26
Other Long-Term Liabilities	4	-	-	-	-
Total Liabilities	2,954	2,910	2,725	4,242	2,257
Common Stock	0.1	0.1	0.1	0.09	0.09
Retained Earnings	-	688.29	641.27	406.39	590.61
Treasury Stock	-61.08	-112.12	-	-	-
Comprehensive Income & Other	1,782	1,072	1,067	104.35	213.54
Total Common Equity	1,721	1,648	1,708	510.82	804.24
Minority Interest	128.67	126.59	120.52	101.51	48.61
Shareholders' Equity	1,849	1,775	1,829	612.34	852.85
Total Liabilities & Equity	4,804	4,685	4,554	4,854	3,110
Total Debt	1,651	1,491	1,090	1,959	939.75
Net Cash (Debt)	-543.09	-447.32	-79.58	-278.53	169.46
Net Cash Growth	-	-	-	-	-58.27%
Net Cash Per Share	-0.76	-0.62	-0.11	-0.39	0.27
Filing Date Shares Outstanding	717.84	714.29	727.35	653.4	630.97
Total Common Shares Outstanding	717.84	714.29	727.35	653.4	630.97
Working Capital	914.49	1,126	1,546	1,477	1,150
Book Value Per Share	2.40	2.31	2.35	0.78	1.27
Tangible Book Value	1,424	1,414	1,477	287.31	758.05
Tangible Book Value Per Share	1.98	1.98	2.03	0.44	1.20
Machinery	736.29	677.15	636.63	571.96	416.19
Construction In Progress	18.5	8.05	8.71	8.24	12.73
Leasehold Improvements	281.16	271.11	260.6	226.74	152.78

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