Dashan Education Holdings 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	19.25	52.02	108.98	94.96	259.84	299.67
Short-Term Investments	-	-	-	-	-	123.2
Trading Asset Securities	10.56	4	9.86	-	-	10
Cash & Short-Term Investments	29.81	56.02	118.85	94.96	259.84	432.87
Cash Growth	-73.16%	-52.86%	25.15%	-63.45%	-39.97%	86.63%
Accounts Receivable	1.95	1.26	1.36	9.35	0.08	-
Other Receivables	-	12.82	6.41	-	0.58	1.42
Receivables	1.95	14.08	7.77	18.35	0.65	1.42
Inventory	5.65	-	-	0.24	0.01	9.36
Prepaid Expenses	-	0	0.01	1.98	2.92	-
Restricted Cash	-	0.07	0.05	-	-	-
Other Current Assets	20.4	1.84	2.87	25.77	1.56	1.31
Total Current Assets	57.81	72	129.54	141.3	264.99	444.95
Property, Plant & Equipment	38.76	44.95	46.33	26.99	36.37	331.84
Long-Term Investments	40.98	41.87	39.3	7.71	23.14	5
Goodwill	27.21	26.44	26.44	7.21	-	-
Other Intangible Assets	3.02	4.26	8.94	7.07	-	-
Long-Term Deferred Tax Assets	-	-	-	-	-	1.02
Other Long-Term Assets	4.97	5.28	17.53	78.75	5.04	8.29
Total Assets	172.74	194.81	268.09	269.03	329.54	791.09
Accounts Payable	5.13	0.11	0.12	-	0.26	1
Accrued Expenses	3.64	7.21	9.66	2.76	5.9	15.04
Short-Term Debt	2.63	2.32	-	-	-	-
Current Portion of Leases	9.86	10.85	10.62	3.88	5.28	36.55
Current Income Taxes Payable	0.65	0.49	0.09	0.11	-	3.41
Current Unearned Revenue	83.39	86.26	71.91	15.37	44.92	192.71
Other Current Liabilities	10.02	5.68	19.84	23.83	8.95	10.68
Total Current Liabilities	115.31	112.9	112.24	45.95	65.3	259.39
Long-Term Debt	4.56	-	-	-	-	-
Long-Term Leases	8.29	12.98	15.11	6.13	17.48	197.4
Long-Term Deferred Tax Liabilities	0.75	1.07	2.24	1.77	-	-
Total Liabilities	128.91	126.95	129.59	53.84	82.78	456.79
Common Stock	7.22	7.22	7.22	7.22	7.22	7.22
Additional Paid-In Capital	237.11	238.55	238.55	238.55	238.55	238.55
Retained Earnings	-147.83	-147.83	-80.76	-30.78	-0.15	56.27
Comprehensive Income & Other	-19.37	1.48	2.66	1.52	1.52	32.26
Total Common Equity	77.13	99.42	167.67	216.51	247.14	334.3
Minority Interest	-33.3	-31.57	-29.17	-1.32	-0.37	-
Shareholders' Equity	43.83	67.86	138.49	215.19	246.76	334.3
Total Liabilities & Equity	172.74	194.81	268.09	269.03	329.54	791.09
Total Debt	25.33	26.14	25.74	10.01	22.76	233.95
Net Cash (Debt)	4.47	29.88	93.11	84.96	237.09	198.92
Net Cash Growth	-94.95%	-67.91%	9.60%	-64.17%	19.19%	-
Net Cash Per Share	0.01	0.04	0.12	0.11	0.31	0.29
Filing Date Shares Outstanding	800	800	800	800	800	800
Total Common Shares Outstanding	800	800	800	800	800	800
Working Capital	-57.5	-40.9	17.29	95.36	199.69	185.56
Book Value Per Share	0.10	0.12	0.21	0.27	0.31	0.42
Tangible Book Value	46.9	68.72	132.28	202.24	247.14	334.3
Tangible Book Value Per Share	0.06	0.09	0.17	0.25	0.31	0.42
Land	-	26.53	26.53	26.37	26.37	26.37
Machinery	-	4.69	12.13	23.02	33.9	49.01
Leasehold Improvements	-	9.37	12.08	10.89	68.03	118.33

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