Southwest Securities 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	3,243	4,038	6,287	4,526	4,008	6,782
Short-Term Investments	23,782	21,148	13,445	14,735	15,746	14,077
Trading Asset Securities	31,334	14,888	14,563	12,817	30,395	26,861
Accounts Receivable	19,158	13,552	12,240	11,575	14,561	12,120
Other Receivables	-	65.64	87.81	96.27	142.97	-
Property, Plant & Equipment	1,109	1,172	1,325	1,353	1,407	1,001
Goodwill	-	-	-	11.02	11.02	119.64
Other Intangible Assets	187.29	184.66	189.96	180.45	174.85	165.41
Investments in Debt & Equity Securities	10,099	3,947	4,741	2,679	9,863	12,532
Other Current Assets	3,648	14,598	20,911	20,998	2,886	2,584
Long-Term Deferred Tax Assets	696.37	848.73	952.41	787.27	527.65	374.21
Other Long-Term Assets	3,277	8,784	9,914	11,217	2,516	2,572
Total Assets	96,534	83,249	84,675	80,994	82,258	79,188
Accounts Payable	-	364.01	194.46	188.52	90.24	77.86
Accrued Expenses	22,427	19,628	13,097	14,657	15,692	13,729
Short-Term Debt	29,926	22,038	34,009	30,299	26,472	24,104
Current Portion of Long-Term Debt	-	3,745	912.37	4,040	7,792	3,298
Current Portion of Leases	-	37.75	7.42	9.66	44.25	-
Other Current Liabilities	590.99	1,251	1,539	734.12	712.44	634.38
Long-Term Debt	16,680	9,750	8,845	5,523	5,588	11,829
Long-Term Leases	96.22	72.04	118.03	91.17	69.82	-
Long-Term Deferred Tax Liabilities	177.06	221.86	193.31	115.34	145.07	214
Other Long-Term Liabilities	557.95	262.14	290.77	280.28	293.5	184.86
Total Liabilities	70,601	57,438	59,273	56,059	56,976	54,109
Common Stock	6,645	6,645	6,645	6,645	6,645	6,645
Additional Paid-In Capital	11,654	11,654	11,654	11,654	11,654	11,654
Retained Earnings	7,600	7,344	7,053	6,694	6,998	6,641
Comprehensive Income & Other	33.07	168.28	57.2	-54.02	59.81	203.09
Total Common Equity	25,933	25,811	25,410	24,940	25,358	25,143
Minority Interest	-	-	-7.57	-3.78	-75.27	-64
Shareholders' Equity	25,933	25,811	25,402	24,936	25,283	25,079
Total Liabilities & Equity	96,534	83,249	84,675	80,994	82,258	79,188
Total Debt	46,702	35,643	43,892	39,962	39,965	39,231
Net Cash (Debt)	11,656	4,431	-9,596	-7,885	10,183	8,489
Net Cash Growth	-15.99%	-	-	-	19.95%	444.75%
Net Cash Per Share	1.94	0.70	-1.43	-1.27	1.57	1.40
Filing Date Shares Outstanding	6,645	6,645	6,645	6,645	6,645	6,645
Total Common Shares Outstanding	6,645	6,645	6,645	6,645	6,645	6,645
Working Capital	28,075	21,195	17,742	14,738	16,896	20,577
Book Value Per Share	3.90	3.88	3.82	3.75	3.82	3.78
Tangible Book Value	25,745	25,627	25,220	24,748	25,172	24,858
Tangible Book Value Per Share	3.87	3.86	3.80	3.72	3.79	3.74

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