Tanwan 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	375.95	514.96	486.89	213.42	693.61
Short-Term Investments	242	581.93	79.68	235.65	174.39
Trading Asset Securities	2,893	430.53	412.8	799.81	50.04
Cash & Short-Term Investments	3,511	1,527	979.36	1,249	918.04
Cash Growth	129.85%	55.96%	-21.58%	36.04%	54.22%
Accounts Receivable	334.4	275.44	334.68	443.8	271.09
Other Receivables	-	-	-	-	95
Receivables	334.4	275.44	335.99	443.8	366.09
Inventory	0.71	2.86	2.91	4.42	1.02
Prepaid Expenses	928.17	444.73	445.64	259.24	129.55
Restricted Cash	0.61	33.98	4.93	10.39	25.86
Other Current Assets	427.58	1,680	2,295	3,651	2,351
Total Current Assets	5,202	3,964	4,064	5,617	3,792
Property, Plant & Equipment	456.29	301.22	446.41	259.4	234.64
Long-Term Investments	980.3	526.56	466.66	273.18	299.35
Goodwill	-	-	27.92	42.5	42.5
Other Intangible Assets	18.05	11.12	15.25	43.73	33.83
Long-Term Deferred Tax Assets	-	117.52	109.31	47.86	40.92
Other Long-Term Assets	725.45	643	2,139	3,513	2,094
Total Assets	7,382	5,564	7,268	9,799	6,558
Accounts Payable	451.21	475.53	466.07	523.65	560.1
Accrued Expenses	-	305.94	742.58	662.8	612.5
Short-Term Debt	1,338	1,730	3,020	6,196	3,512
Current Portion of Leases	15.38	4.74	39.62	21.25	27.79
Current Income Taxes Payable	485.66	471.45	416.28	247.8	146.87
Current Unearned Revenue	-	48.97	85.4	117.71	-
Other Current Liabilities	484.53	64.86	65.96	120.71	330.62
Total Current Liabilities	2,775	3,101	4,836	7,890	5,190
Long-Term Leases	52.8	39.47	153.18	190.75	182.51
Long-Term Deferred Tax Liabilities	269.4	-	-	-	-
Other Long-Term Liabilities	-	-	3.05	9.15	11.71
Total Liabilities	3,097	3,141	4,992	8,090	5,384
Common Stock	0.08	0.08	0.08	0.07	-
Retained Earnings	-	-237.5	-233.88	-419.37	-933.43
Treasury Stock	-114.8	-0	-0	-0	-
Comprehensive Income & Other	4,301	2,636	2,520	2,151	2,111
Total Common Equity	4,186	2,399	2,287	1,732	1,178
Minority Interest	99.36	24.53	-10.74	-22.72	-3.48
Shareholders' Equity	4,285	2,423	2,276	1,709	1,174
Total Liabilities & Equity	7,382	5,564	7,268	9,799	6,558
Total Debt	1,406	1,774	3,213	6,408	3,722
Net Cash (Debt)	2,104	-246.44	-2,234	-5,159	-2,804
Net Cash Per Share	3.95	-0.47	-4.36	-96.39	-
Filing Date Shares Outstanding	522.85	516.98	516.98	53.26	-
Total Common Shares Outstanding	522.85	516.98	516.98	53.26	-
Working Capital	2,427	863.11	-772.22	-2,272	-1,398
Book Value Per Share	8.01	4.64	4.42	32.52	-
Tangible Book Value	4,168	2,387	2,243	1,646	1,101
Tangible Book Value Per Share	7.97	4.62	4.34	30.90	-
Buildings	-	63.81	63.81	39.37	-
Machinery	-	62.42	51.31	46.72	36.28
Construction In Progress	-	0.46	1.57	-	-
Leasehold Improvements	-	37.81	31.79	39.25	35.28

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.