SHA:600165 Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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	272.49	460.65	8.61	24.4	89.48	110.95
Cash & Short-Term Investments	272.49	460.65	8.61	24.4	89.48	110.95
Cash Growth	1829.95%	5252.30%	-64.73%	-72.73%	-19.35%	-46.46%
Accounts Receivable	118.41	110.38	69.84	60.36	35	21.74
Other Receivables	87.44	37.31	5.24	3.35	2.49	1.58
Receivables	205.85	147.69	75.07	63.71	37.49	23.32
Inventory	173.02	117.28	102.05	95.83	109.31	144.97
Prepaid Expenses	-	9.34	8.87	0.34	0.01	-
Other Current Assets	60.6	56.81	19.64	14.42	15.57	32.91
Total Current Assets	711.96	791.77	214.24	198.7	251.86	312.16
Property, Plant & Equipment	1,614	1,620	1,808	1,872	2,198	2,231
Long-Term Investments	-	-	-	710.41	672.17	652.02
Other Intangible Assets	59.32	60.27	67.14	74.31	79.3	52.53
Long-Term Deferred Tax Assets	2.14	2.16	4.55	3.05	2.9	6.09
Long-Term Deferred Charges	3.61	3.8	5.07	6.23	6.8	7.65
Other Long-Term Assets	14.26	12.29	67.99	92.81	67.53	44.37
Total Assets	2,406	2,490	2,167	2,958	3,279	3,306
Accounts Payable	118.6	115.96	820.22	635.36	692.24	567.22
Accrued Expenses	2.33	28.44	143.15	123.87	18.58	24.6
Short-Term Debt	7.21	7.81	674.32	532.24	461.67	344.19
Current Portion of Long-Term Debt	2.64	2.15	-	424.53	369.54	74.2
Current Portion of Leases	-	0.52	1.66	1.23	0.75	0.32
Current Income Taxes Payable	7.99	2.63	-	-	0.74	0.02
Current Unearned Revenue	4.72	3.3	3.27	8.05	4.18	56.45
Other Current Liabilities	119.7	124.82	254.87	155.78	18.83	13.04
Total Current Liabilities	263.2	285.63	1,898	1,881	1,567	1,080
Long-Term Debt	-	845.98	-	743.8	781.5	1,079
Long-Term Leases	-	0.9	1.29	1.7	1.53	1.86
Long-Term Unearned Revenue	16.83	19.49	17.63	18.26	19.9	12.91
Long-Term Deferred Tax Liabilities	1.93	2.03	2.52	3.06	3.2	3.65
Other Long-Term Liabilities	851.42	-	7.91	3.96	11.97	64.47
Total Liabilities	1,133	1,154	1,927	2,652	2,385	2,242
Common Stock	1,616	1,616	684.88	684.88	684.88	684.88
Additional Paid-In Capital	1,253	1,253	957.74	442.27	442.04	441.79
Retained Earnings	-1,726	-1,661	-1,571	-1,032	-497.71	-356.23
Comprehensive Income & Other	-	-	-	3.93	0.1	-0.12
Total Common Equity	1,144	1,208	71.79	99.16	629.31	770.32
Minority Interest	128.58	128.07	168.37	206.5	264.77	293.4
Shareholders' Equity	1,272	1,336	240.17	305.65	894.08	1,064
Total Liabilities & Equity	2,406	2,490	2,167	2,958	3,279	3,306
Total Debt	9.85	857.36	677.27	1,704	1,615	1,500
Net Cash (Debt)	262.65	-396.71	-668.67	-1,679	-1,526	-1,389
Net Cash Per Share	0.14	-0.25	-0.98	-2.45	-2.23	-2.03
Filing Date Shares Outstanding	1,608	1,616	684.88	684.88	684.88	684.88
Total Common Shares Outstanding	1,608	1,616	684.88	684.88	684.88	684.88
Working Capital	448.77	506.14	-1,683	-1,682	-1,315	-767.88
Book Value Per Share	0.71	0.75	0.10	0.14	0.92	1.12
Tangible Book Value	1,084	1,148	4.65	24.84	550.01	717.79
Tangible Book Value Per Share	0.67	0.71	0.01	0.04	0.80	1.05
Buildings	-	552.92	643.45	669.89	767.23	607.44
Machinery	-	1,582	1,579	1,521	1,623	1,078
Construction In Progress	-	81.39	79.43	72.79	74.65	696.41

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