SHA:600425 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	1,184	1,150	1,273	1,611	1,027	1,270
Cash & Short-Term Investments	1,184	1,150	1,273	1,611	1,027	1,270
Cash Growth	-1.00%	-9.69%	-20.98%	56.83%	-19.12%	16.31%
Accounts Receivable	670.66	851.81	1,044	1,083	921.67	484.61
Other Receivables	31.54	32.16	43.36	207.63	32.81	80.64
Receivables	702.21	883.97	1,088	1,291	954.48	565.25
Inventory	770.55	688.69	642.55	722.38	870.92	599.57
Prepaid Expenses	-	-	-	0.01	-	-
Other Current Assets	155.69	143.82	168.45	126.77	121.41	218.94
Total Current Assets	2,812	2,866	3,172	3,751	2,974	2,654
Property, Plant & Equipment	4,991	5,028	4,908	4,713	4,706	4,671
Long-Term Investments	460.43	469.36	552.19	546.8	529.36	505.93
Other Intangible Assets	492.05	501.89	431.38	392.48	375.3	324.63
Long-Term Deferred Tax Assets	16.46	16.76	16.22	21.98	21.48	23.35
Long-Term Deferred Charges	32.66	31.94	21.51	6.44	2.14	1.36
Other Long-Term Assets	364.84	371.04	436.32	262.85	268.66	306.9
Total Assets	9,169	9,285	9,538	9,694	8,877	8,487
Accounts Payable	479.22	497.15	517.32	514.83	459.55	533.63
Accrued Expenses	65.26	55.78	52.62	79.2	133.84	111.64
Short-Term Debt	315	394.73	501.69	1,178	1,181	1,103
Current Portion of Long-Term Debt	-	417.75	261.24	52.49	561.64	221.01
Current Portion of Leases	-	-	-	-	13.5	46.85
Current Income Taxes Payable	-	13.02	17.1	22.73	36.59	40.06
Current Unearned Revenue	64.27	72.89	59.3	97.99	107.68	51.04
Other Current Liabilities	758.74	318.57	426.8	506.08	495.75	301.97
Total Current Liabilities	1,682	1,770	1,836	2,451	2,990	2,409
Long-Term Debt	479.89	539.09	870.95	658.03	275.19	709.82
Long-Term Leases	-	-	-	-	-	13.5
Long-Term Unearned Revenue	191.3	192.97	144.27	118.54	124.71	124.93
Other Long-Term Liabilities	64.86	3.78	0.11	0.21	0.4	0.4
Total Liabilities	2,419	2,506	2,851	3,228	3,390	3,258
Common Stock	1,605	1,605	1,605	1,605	1,379	1,379
Additional Paid-In Capital	3,404	3,404	3,404	3,445	3,005	3,005
Retained Earnings	1,399	1,426	1,310	1,117	813.98	619.1
Comprehensive Income & Other	39.76	38.18	72.24	62.2	65	29.59
Total Common Equity	6,447	6,472	6,391	6,229	5,262	5,032
Minority Interest	303.45	306.62	295.59	237.49	224.06	196.91
Shareholders' Equity	6,751	6,779	6,686	6,466	5,486	5,229
Total Liabilities & Equity	9,169	9,285	9,538	9,694	8,877	8,487
Total Debt	794.89	1,352	1,634	1,889	2,032	2,094
Net Cash (Debt)	388.82	-201.86	-360.76	-277.36	-1,004	-824.19
Net Cash Per Share	0.24	-0.12	-0.22	-0.17	-0.73	-0.60
Filing Date Shares Outstanding	1,573	1,605	1,605	1,605	1,379	1,379
Total Common Shares Outstanding	1,573	1,605	1,605	1,605	1,379	1,379
Working Capital	1,130	1,096	1,336	1,300	-15.88	244.56
Book Value Per Share	4.10	4.03	3.98	3.88	3.82	3.65
Tangible Book Value	5,955	5,971	5,959	5,836	4,887	4,707
Tangible Book Value Per Share	3.78	3.72	3.71	3.64	3.54	3.41
Buildings	-	3,587	3,439	3,242	3,150	3,107
Machinery	-	4,661	4,369	4,165	3,916	3,785
Construction In Progress	-	161.94	295.34	290.05	356.82	127.04

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