Langfang Development Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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	203.02	243.13	263.47	126.69	136.71	132.37
Trading Asset Securities	-	-	-	-	16.8	7.01
Cash & Short-Term Investments	203.02	243.13	263.47	126.69	153.51	139.38
Cash Growth	-9.57%	-7.72%	107.96%	-17.47%	10.13%	29.06%
Accounts Receivable	18.02	18.91	13.35	13.19	23.8	20.57
Other Receivables	1.01	0.48	0.31	0.21	0.16	0.42
Receivables	19.02	19.39	13.66	13.4	23.96	21
Inventory	12.81	12.75	30.74	15.01	14.56	14.1
Prepaid Expenses	0.49	0.01	0.01	0.07	0.09	-
Other Current Assets	1.43	2.79	1.76	1.65	2.03	5.49
Total Current Assets	236.77	278.06	309.65	156.81	194.13	179.97
Property, Plant & Equipment	185.04	191.87	207.01	230.34	239.95	251.05
Long-Term Investments	15.94	15.78	15.42	12.4	16.7	16.88
Goodwill	40.36	40.36	40.36	40.36	40.36	40.36
Other Intangible Assets	47.15	47.71	25.23	25.83	26.5	14.39
Long-Term Deferred Tax Assets	9.52	9.7	13.25	16.24	13.48	6.92
Long-Term Deferred Charges	1.96	2.79	4.77	7.36	11.68	15.9
Other Long-Term Assets	8.01	8.32	13.73	109.7	114.92	124.99
Total Assets	544.75	594.59	629.41	599.03	657.73	650.47

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Accounts Payable	83.33	58.38	91.3	81.34	82.03	46.16
Accrued Expenses	1.88	5.5	5.95	7.37	6.64	7.33
Short-Term Debt	10	10.01	48.05	48.05	48.06	30.03
Current Portion of Long-Term Debt	-	-	-	13.05	3.55	0.05
Current Portion of Leases	0.18	0.18	0.08	0.3	0.29	0.27
Current Income Taxes Payable	0	5.52	3.62	0.39	5.21	6.2
Current Unearned Revenue	17.8	89.06	83.62	92.61	77.56	61.13
Other Current Liabilities	13.29	14	11.79	16.15	14.07	14.12
Total Current Liabilities	126.49	182.64	244.4	259.26	237.42	165.31
Long-Term Debt	-	-	-	21	32.5	37
Long-Term Leases	0.09	0.18	-	0.08	0.52	0.81
Long-Term Unearned Revenue	17.64	18.28	-	-	1.01	4.06
Long-Term Deferred Tax Liabilities	4.54	4.88	5.68	7.02	8.69	9.62
Other Long-Term Liabilities	24.86	31.38	57.14	89.66	130.18	169.99
Total Liabilities	173.62	237.36	307.22	377.01	410.32	386.8

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Common Stock	380.16	380.16	380.16	380.16	380.16	380.16
Additional Paid-In Capital	59.6	59.6	59.6	59.6	59.6	59.6
Retained Earnings	-189.11	-192.23	-207.61	-292.54	-277.65	-269.27
Total Common Equity	250.64	247.53	232.15	147.22	162.11	170.49
Minority Interest	120.49	109.7	90.03	74.79	85.3	93.18
Shareholders' Equity	371.13	357.23	322.18	222.02	247.41	263.67
Total Liabilities & Equity	544.75	594.59	629.41	599.03	657.73	650.47

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Total Debt	10.28	10.37	48.13	82.48	84.92	68.17
Net Cash (Debt)	192.75	232.76	215.34	44.21	68.59	71.21
Net Cash Growth	9.51%	8.09%	387.11%	-35.54%	-3.69%	-2.40%
Net Cash Per Share	0.51	0.61	0.57	0.12	0.18	0.19
Filing Date Shares Outstanding	380.16	380.16	380.16	380.16	380.16	380.16
Total Common Shares Outstanding	380.16	380.16	380.16	380.16	380.16	380.16
Working Capital	110.28	95.42	65.24	-102.44	-43.28	14.66
Book Value Per Share	0.66	0.65	0.61	0.39	0.43	0.45
Tangible Book Value	163.14	159.46	166.56	81.04	95.25	115.74
Tangible Book Value Per Share	0.43	0.42	0.44	0.21	0.25	0.30
Buildings	129.68	130.27	130.27	129.68	129.68	129.86
Machinery	335.61	330.28	314.45	150.17	137	137.81
Construction In Progress	0.08	0.08	9.03	9.67	7	0.79