Shede Spirits 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	1,220	1,543	2,422	2,448	1,973
Trading Asset Securities	100.13	0.11	601.92	1,308	1,416
Cash & Short-Term Investments	1,320	1,543	3,024	3,756	3,389
Cash Growth	-14.47%	-48.96%	-19.50%	10.84%	151.48%
Accounts Receivable	427	502.61	534.76	322.97	346.32
Other Receivables	28.45	54.69	51.51	47.56	37.69
Receivables	455.45	557.3	586.27	370.53	384.01
Inventory	5,904	5,219	4,424	3,583	2,794
Prepaid Expenses	-	13.68	26	38.88	0.69
Other Current Assets	143.67	103.41	39.07	18.71	22.7
Total Current Assets	7,824	7,437	8,099	7,767	6,590
Property, Plant & Equipment	3,737	3,521	2,343	1,547	1,026
Long-Term Investments	163.83	18.23	19.35	14.08	13.98
Other Intangible Assets	433.04	422.9	416.84	303.37	303.96
Long-Term Deferred Tax Assets	312.15	210.41	88.55	60.93	68.34
Long-Term Deferred Charges	28.77	33.44	37.53	40.24	55.07
Other Long-Term Assets	116.23	158.92	117.64	64.88	35.88
Total Assets	12,615	11,802	11,122	9,798	8,093
Accounts Payable	1,152	632.08	643.03	770.54	488.31
Accrued Expenses	194.19	1,042	1,140	1,076	1,016
Short-Term Debt	1,135	763.28	37.77	3.97	19.82
Current Portion of Long-Term Debt	407.09	14.39	81.26	-	-
Current Portion of Leases	-	6.99	10.41	11.35	-
Current Income Taxes Payable	70.22	80.84	316.59	417.39	413.32
Current Unearned Revenue	146.68	164.82	276.55	297.51	658.2
Other Current Liabilities	1,268	1,361	897.65	555.62	412.56
Total Current Liabilities	4,373	4,066	3,404	3,133	3,008
Long-Term Debt	773.89	431.44	39.41	25	-
Long-Term Leases	-	2.59	7.11	17.52	49.79
Long-Term Unearned Revenue	160.75	98.91	65.57	62.88	23.29
Pension & Post-Retirement Benefits	-	0.95	-	-	-
Long-Term Deferred Tax Liabilities	72.36	50.33	41.1	22.11	15.34
Other Long-Term Liabilities	36.02	21.07	-	-	-
Total Liabilities	5,416	4,671	3,557	3,260	3,097
Common Stock	332.76	333.17	333.18	333.2	332.07
Additional Paid-In Capital	758.12	815.64	843.9	812.85	736.05
Retained Earnings	6,190	6,107	6,471	5,204	3,784
Treasury Stock	-409.9	-459.04	-425.63	-32.64	-64.52
Comprehensive Income & Other	16.31	11.79	13.48	12.05	6.32
Total Common Equity	6,887	6,808	7,236	6,329	4,794
Minority Interest	311.37	322.99	328.24	208.23	202.4
Shareholders' Equity	7,199	7,131	7,565	6,538	4,997
Total Liabilities & Equity	12,615	11,802	11,122	9,798	8,093
Total Debt	2,316	1,219	175.96	57.84	69.62
Net Cash (Debt)	-995.9	324.81	2,848	3,699	3,320
Net Cash Growth	-	-88.59%	-23.00%	11.42%	268.16%
Net Cash Per Share	-3.04	0.99	8.59	11.17	10.02
Filing Date Shares Outstanding	330.63	329.22	333.17	333.2	332.07
Total Common Shares Outstanding	330.63	330.25	333.18	333.2	332.07
Working Capital	3,451	3,372	4,695	4,635	3,582
Book Value Per Share	20.83	20.62	21.72	19.00	14.44
Tangible Book Value	6,454	6,385	6,820	6,026	4,490
Tangible Book Value Per Share	19.52	19.33	20.47	18.09	13.52
Buildings	-	2,076	1,190	1,034	896.63
Machinery	-	1,850	1,649	1,146	1,052
Construction In Progress	-	857.88	725.76	457.19	105.54

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.