Gemdale Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	12,673	22,731	29,738	54,507	64,806
Cash & Short-Term Investments	12,673	22,731	29,738	54,507	64,806
Cash Growth	-44.25%	-23.56%	-45.44%	-15.89%	19.57%
Accounts Receivable	1,713	1,897	1,630	1,541	797.26
Other Receivables	68,615	80,176	94,060	91,264	93,557
Receivables	71,732	83,772	97,684	95,161	96,482
Inventory	59,292	83,784	132,912	151,004	188,801
Prepaid Expenses	6,004	7,690	9,952	11,159	12,616
Other Current Assets	779.87	1,462	1,978	2,154	2,393
Total Current Assets	150,480	199,438	272,264	313,984	365,099
Property, Plant & Equipment	805.59	1,381	1,623	2,377	2,589
Long-Term Investments	46,592	55,349	63,697	68,901	63,363
Goodwill	245.62	273.11	336.06	336.06	172.62
Other Intangible Assets	37.99	15.48	20.17	28.69	30.45
Long-Term Deferred Tax Assets	5,265	6,312	5,845	5,553	4,888
Long-Term Deferred Charges	280.94	357.95	538.25	605.03	572.57
Other Long-Term Assets	29,497	30,779	29,522	27,475	25,555
Total Assets	233,205	293,906	373,847	419,437	462,810
Accounts Payable	15,759	20,848	28,982	33,679	39,502
Accrued Expenses	5,264	5,401	5,749	17,152	14,277
Short-Term Debt	414.86	334.99	534.06	2,906	4,037
Current Portion of Long-Term Debt	30,506	31,705	40,864	39,510	37,102
Current Portion of Leases	142.35	159.45	149.95	195.8	179.73
Current Income Taxes Payable	830.71	1,332	1,420	2,415	1,517
Current Unearned Revenue	15,002	33,942	65,971	76,961	112,646
Other Current Liabilities	40,357	48,887	55,046	48,364	48,817
Total Current Liabilities	108,276	142,610	198,716	221,183	258,078
Long-Term Debt	36,160	41,712	51,060	73,852	85,759
Long-Term Leases	593.08	766.37	960.52	1,066	1,086
Long-Term Unearned Revenue	0.08	0.08	0.16	0.25	-
Long-Term Deferred Tax Liabilities	4,804	5,213	5,576	5,178	4,964
Other Long-Term Liabilities	7.32	131.21	633.72	1,853	2,716
Total Liabilities	149,840	190,433	256,946	303,133	352,603
Common Stock	4,515	4,515	4,515	4,515	4,515
Additional Paid-In Capital	255.96	156.44	159.28	694.2	2,105
Retained Earnings	40,253	53,535	59,739	59,465	56,182
Comprehensive Income & Other	623.29	834.07	646.96	575.42	179.15
Total Common Equity	45,647	59,040	65,060	65,249	62,981
Minority Interest	37,717	44,434	51,841	51,056	47,226
Shareholders' Equity	83,364	103,474	116,901	116,305	110,207
Total Liabilities & Equity	233,205	293,906	373,847	419,437	462,810
Total Debt	67,816	74,678	93,569	117,530	128,163
Net Cash (Debt)	-55,143	-51,947	-63,831	-63,023	-63,357
Net Cash Per Share	-12.21	-11.47	-14.37	-13.91	-14.01
Filing Date Shares Outstanding	4,515	4,515	4,515	4,515	4,515
Total Common Shares Outstanding	4,515	4,515	4,515	4,515	4,515
Working Capital	42,204	56,828	73,548	92,801	107,021
Book Value Per Share	10.11	13.08	14.41	14.45	13.95
Tangible Book Value	45,364	58,751	64,703	64,884	62,778
Tangible Book Value Per Share	10.05	13.01	14.33	14.37	13.91
Buildings	258.12	702.16	773.61	1,612	1,766
Machinery	614.79	671.14	661.53	600.41	534.07

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