Tanwan Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	501.55	514.96	486.89	213.42	693.61	393.47
Short-Term Investments	366.58	581.93	79.68	235.65	174.39	149.18
Trading Asset Securities	886.4	430.53	412.8	799.81	50.04	52.61
Cash & Short-Term Investments	1,755	1,527	979.36	1,249	918.04	595.26
Cash Growth	115.19%	55.96%	-21.58%	36.04%	54.22%	-
Accounts Receivable	224.64	275.44	334.68	443.8	271.09	222
Other Receivables	54.75	-	-	-	95	99.77
Receivables	279.39	275.44	335.99	443.8	366.09	348.76
Inventory	1.42	2.86	2.91	4.42	1.02	-
Prepaid Expenses	757.54	444.73	445.64	259.24	129.55	152.28
Restricted Cash	3.03	33.98	4.93	10.39	25.86	84.93
Other Current Assets	1,186	1,680	2,295	3,651	2,351	1,108
Total Current Assets	3,982	3,964	4,064	5,617	3,792	2,289
Property, Plant & Equipment	263.85	301.22	446.41	259.4	234.64	152.92
Long-Term Investments	923.02	526.56	466.66	273.18	299.35	424.04
Goodwill	-	-	27.92	42.5	42.5	-
Other Intangible Assets	9.57	11.12	15.25	43.73	33.83	6.9
Long-Term Deferred Tax Assets	5.77	117.52	109.31	47.86	40.92	5.87
Other Long-Term Assets	515.57	643	2,139	3,513	2,094	935.52
Total Assets	5,700	5,564	7,268	9,799	6,558	3,862
Accounts Payable	483.73	475.53	466.07	523.65	560.1	275.56
Accrued Expenses	-	305.94	742.58	662.8	612.5	341.98
Short-Term Debt	1,091	1,730	3,020	6,196	3,512	1,730
Current Portion of Leases	7.48	4.74	39.62	21.25	27.79	2.13
Current Income Taxes Payable	493.24	471.45	416.28	247.8	146.87	93.69
Current Unearned Revenue	-	48.97	85.4	117.71	-	-
Other Current Liabilities	317.03	64.86	65.96	120.71	330.62	619.1
Total Current Liabilities	2,392	3,101	4,836	7,890	5,190	3,062
Long-Term Leases	42.78	39.47	153.18	190.75	182.51	137.18
Other Long-Term Liabilities	-	-	3.05	9.15	11.71	0.3
Total Liabilities	2,435	3,141	4,992	8,090	5,384	3,200
Common Stock	0.08	0.08	0.08	0.07	-	-
Retained Earnings	364.47	-237.5	-233.88	-419.37	-933.43	-1,449
Treasury Stock	-23.39	-0	-0	-0	-	-
Comprehensive Income & Other	2,851	2,636	2,520	2,151	2,111	2,112
Total Common Equity	3,192	2,399	2,287	1,732	1,178	662.18
Minority Interest	73.06	24.53	-10.74	-22.72	-3.48	-
Shareholders' Equity	3,265	2,423	2,276	1,709	1,174	662.18
Total Liabilities & Equity	5,700	5,564	7,268	9,799	6,558	3,862
Total Debt	1,141	1,774	3,213	6,408	3,722	1,869
Net Cash (Debt)	613.76	-246.44	-2,234	-5,159	-2,804	-1,274
Net Cash Per Share	1.16	-0.47	-4.36	-96.39	-	-
Filing Date Shares Outstanding	526.64	516.98	516.98	53.26	-	-
Total Common Shares Outstanding	526.64	516.98	516.98	53.26	-	-
Working Capital	1,590	863.11	-772.22	-2,272	-1,398	-773.69
Book Value Per Share	6.06	4.64	4.42	32.52	-	-
Tangible Book Value	3,183	2,387	2,243	1,646	1,101	655.29
Tangible Book Value Per Share	6.04	4.62	4.34	30.90	-	-
Buildings	-	63.81	63.81	39.37	-	-
Machinery	-	62.42	51.31	46.72	36.28	26.36
Construction In Progress	-	0.46	1.57	-	-	-
Leasehold Improvements	-	37.81	31.79	39.25	35.28	18.09

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.