SHA:600281 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	66.73	29.69	34.66	39.53	84.05	168.89
Cash & Short-Term Investments	66.73	29.69	34.66	39.53	84.05	168.89
Cash Growth	6.05%	-14.36%	-12.32%	-52.97%	-50.23%	-13.45%
Accounts Receivable	80.62	64.9	66.92	72.14	77.57	68.75
Other Receivables	12.79	0.25	1.01	3.6	1.65	138.67
Receivables	93.41	65.15	67.93	75.74	79.22	207.42
Inventory	156.95	142.95	87.61	128.41	179.41	147.94
Prepaid Expenses	-	0.01	0.02	0	-	0.18
Other Current Assets	29.02	26.24	28.49	28.85	24.68	44.98
Total Current Assets	346.12	264.04	218.71	272.54	367.37	569.41
Property, Plant & Equipment	424.59	430.7	487.55	518.5	509.75	190.24
Long-Term Investments	-	2.42	2.39	2.2	1.7	3.2
Other Intangible Assets	19.46	19.58	20.09	21.17	21.79	0.61
Long-Term Deferred Tax Assets	45.85	46.27	54.33	82.95	91.09	81.64
Long-Term Deferred Charges	5.61	6.14	8.6	11.16	14.71	-
Other Long-Term Assets	56.15	53.85	69.91	68.72	70.97	66.63
Total Assets	897.78	823	861.57	977.23	1,077	911.72
Accounts Payable	158.25	35.8	26.08	22.34	67.16	62.8
Accrued Expenses	17.65	48.63	43.51	32.91	29.89	27.45
Short-Term Debt	10	10.07	20.02	20.03	50	253.41
Current Portion of Long-Term Debt	132.3	146.94	314.66	77.03	61	-
Current Portion of Leases	-	22.93	11.66	3.59	3.44	-
Current Income Taxes Payable	25.64	0.06	0.05	0	-	-
Current Unearned Revenue	25.26	25.78	25.05	0.57	1.48	0.7
Other Current Liabilities	55.25	141.64	148.02	168.55	186.06	76.33
Total Current Liabilities	424.36	431.84	589.04	325.02	399.02	420.7
Long-Term Debt	390.43	305.64	188.47	379.77	200.07	-
Long-Term Leases	16.98	18.11	10.89	14.26	17.87	-
Long-Term Unearned Revenue	4.61	4.57	5.05	5.29	5.44	4.18
Long-Term Deferred Tax Liabilities	5.13	5.56	5.84	5.99	7.04	2.23
Other Long-Term Liabilities	-	1.2	1.2	1.2	1.2	2.7
Total Liabilities	841.52	766.93	800.49	731.54	630.64	429.81
Common Stock	514.4	514.4	514.4	514.4	514.4	514.4
Additional Paid-In Capital	582.71	582.71	582.45	582.26	583.63	578.13
Retained Earnings	-1,043	-1,043	-1,037	-850.97	-651.3	-610.62
Comprehensive Income & Other	2.4	2.31	1.37	-	-	-
Total Common Equity	56.26	56.07	61.08	245.69	446.73	481.91
Shareholders' Equity	56.26	56.07	61.08	245.69	446.73	481.91
Total Liabilities & Equity	897.78	823	861.57	977.23	1,077	911.72
Total Debt	549.71	503.68	545.7	494.68	332.37	253.41
Net Cash (Debt)	-482.98	-474	-511.04	-455.15	-248.32	-84.52
Net Cash Per Share	-0.97	-0.92	-0.99	-0.88	-0.48	-0.16
Filing Date Shares Outstanding	514.4	514.4	514.4	514.4	514.4	514.4
Total Common Shares Outstanding	514.4	514.4	514.4	514.4	514.4	514.4
Working Capital	-78.24	-167.81	-370.34	-52.48	-31.66	148.7
Book Value Per Share	0.11	0.11	0.12	0.48	0.87	0.94
Tangible Book Value	36.8	36.49	40.99	224.52	424.95	481.3
Tangible Book Value Per Share	0.07	0.07	0.08	0.44	0.83	0.94
Buildings	-	235.5	252.08	253.3	204.68	64.43
Machinery	-	261.7	282.26	283.12	223.33	34.22
Construction In Progress	-	12.5	1.1	-	73.39	96.45