Tsinghua Tongfang 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	Sep '25 Sep 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	6,113	6,152	5,999	6,806	11,036	9,930
Trading Asset Securities	57.34	1,171	1,101	1,369	1,618	1,725
Cash & Short-Term Investments	6,171	7,323	7,100	8,175	12,654	11,654
Cash Growth	3.24%	3.14%	-13.15%	-35.39%	8.58%	-12.01%
Accounts Receivable	8,659	9,433	8,816	8,073	6,702	7,304
Other Receivables	1,200	1,272	1,308	1,683	987.94	2,000
Receivables	9,859	10,705	10,124	9,757	7,690	9,304
Inventory	7,985	7,006	7,724	9,485	9,203	9,142
Prepaid Expenses	-	43.28	69.28	75.59	69.38	-
Other Current Assets	1,055	848.57	5,870	1,045	1,867	1,321
Total Current Assets	25,069	25,926	30,888	28,538	31,483	31,421
Property, Plant & Equipment	3,125	3,299	3,449	4,145	4,336	4,280
Long-Term Investments	15,625	15,986	14,775	15,261	17,016	19,069
Goodwill	90.61	91.67	92.21	96.79	92.3	204.1
Other Intangible Assets	1,896	1,904	1,901	1,800	1,822	1,517
Long-Term Accounts Receivable	-	432.28	427.87	515.91	2,298	-
Long-Term Deferred Tax Assets	1,585	1,567	1,588	1,318	1,343	1,128
Long-Term Deferred Charges	867.8	1,954	1,667	2,271	2,145	1,356
Other Long-Term Assets	1,891	307.61	295.98	189.89	1,250	3,353
Total Assets	50,150	51,467	55,084	54,135	61,785	62,328
Accounts Payable	8,115	8,204	7,694	7,903	7,420	8,180
Accrued Expenses	694.17	1,435	1,415	1,646	1,356	1,095
Short-Term Debt	2,226	3,002	8,916	12,268	10,290	7,427
Current Portion of Long-Term Debt	1,185	932.15	732.35	4,132	6,775	-
Current Portion of Leases	-	104.85	118.22	93.81	121.24	-
Current Income Taxes Payable	309.54	282.86	301.53	324.93	346.81	280.22
Current Unearned Revenue	3,569	3,085	3,063	3,431	3,910	3,858
Other Current Liabilities	1,121	907.6	5,088	645.08	909.43	5,638
Total Current Liabilities	17,221	17,953	27,328	30,443	31,128	26,477
Long-Term Debt	10,738	10,620	7,132	1,870	8,558	13,663
Long-Term Leases	177.58	165.89	214.11	284.19	269.47	-
Long-Term Unearned Revenue	1,067	1,009	1,077	1,497	1,213	1,309
Long-Term Deferred Tax Liabilities	96.15	71.55	53.66	41.48	230.69	210.57
Other Long-Term Liabilities	5.25	8.65	26.51	32.25	33.68	115.17
Total Liabilities	29,305	29,828	35,832	34,168	41,433	41,775
Common Stock	3,350	3,350	3,350	3,350	3,350	2,964
Additional Paid-In Capital	10,877	10,974	10,880	11,053	11,292	9,201
Retained Earnings	2,896	1,189	977.04	1,732	2,447	4,930
Comprehensive Income & Other	-961.67	1,282	-939.23	-1,232	-1,186	-1,009
Total Common Equity	16,161	16,796	14,268	14,904	15,904	16,086
Minority Interest	4,683	4,843	4,984	5,064	4,449	4,467
Shareholders' Equity	20,844	21,639	19,253	19,968	20,352	20,553
Total Liabilities & Equity	50,150	51,467	55,084	54,135	61,785	62,328
Total Debt	14,327	14,825	17,113	18,647	26,014	21,090
Net Cash (Debt)	-8,156	-7,502	-10,013	-10,472	-13,360	-9,436
Net Cash Per Share	-2.46	-2.24	-2.99	-3.13	-4.32	-3.19
Filing Date Shares Outstanding	3,350	3,350	3,350	3,350	3,350	2,964
Total Common Shares Outstanding	3,350	3,350	3,350	3,350	3,350	2,964
Working Capital	7,848	7,973	3,560	-1,905	354.86	4,945
Book Value Per Share	4.82	5.01	4.26	4.45	4.75	5.43
Tangible Book Value	14,174	14,800	12,275	13,007	13,989	14,364
Tangible Book Value Per Share	4.23	4.42	3.66	3.88	4.18	4.85
Buildings	-	3,664	3,666	4,150	4,156	-
Machinery	-	3,001	2,921	3,602	3,516	-
Construction In Progress	-	7.01	42.02	50.48	76.1	-

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