Topchoice Medical Co. 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	792.03	696.33	620.56	594.48	630.32	843.99
Trading Asset Securities	2.32	2.32	1.42	-	-	-
Cash & Short-Term Investments	794.34	698.64	621.98	594.48	630.32	843.99
Cash Growth	32.66%	12.33%	4.63%	-5.69%	-25.32%	25.20%
Accounts Receivable	196.16	169.3	151.03	137.51	104.95	73.51
Other Receivables	96.93	84.13	74.88	64.4	59.7	55.49
Receivables	293.09	253.43	225.91	321.91	424.65	129
Inventory	25.01	19.77	29.99	24.8	22.9	20.34
Other Current Assets	67.23	53.54	39.76	28.18	34.02	27.7
Total Current Assets	1,180	1,025	917.64	969.37	1,112	1,021
Property, Plant & Equipment	2,637	2,638	2,937	2,753	2,203	2,245
Long-Term Investments	1,051	1,045	1,147	1,156	644.73	725.94
Goodwill	73.06	73.06	73.06	50.28	50.28	50.28
Other Intangible Assets	172.34	174.38	79.68	58.66	12.37	12.85
Long-Term Deferred Tax Assets	100.14	101.13	61.5	22.08	12.5	4.96
Long-Term Deferred Charges	419.97	424.91	389.84	376.84	334.45	244.28
Other Long-Term Assets	606.74	62.06	156.64	256.22	421.26	82.76
Total Assets	6,239	6,042	6,228	6,062	5,154	4,955
Accounts Payable	108.13	149.4	182.49	183.3	140.52	173.53
Accrued Expenses	30.48	36.24	45.6	67.99	38.92	41.92
Short-Term Debt	300	50.6	80.62	125.72	0.48	1.37
Current Portion of Long-Term Debt	126.17	169.17	20.22	39.07	41.1	70.13
Current Portion of Leases	-	153.69	109.23	100.67	99.82	96.32
Current Income Taxes Payable	85.74	81.43	98.72	115.17	103.06	188.89
Current Unearned Revenue	10.87	18.45	19.82	19.77	20.38	19.97
Other Current Liabilities	27.4	31.2	36.45	39.3	33.18	32.77
Total Current Liabilities	688.79	690.18	593.15	690.99	477.46	624.89
Long-Term Debt	-	-	169	189	28.8	109.96
Long-Term Leases	720.48	738.75	1,065	1,005	983.75	1,021
Long-Term Unearned Revenue	12.66	12.94	14.38	16.11	17.6	19.24
Long-Term Deferred Tax Liabilities	30.88	30.88	26.88	28.7	28.61	34.97
Total Liabilities	1,453	1,473	1,869	1,930	1,536	1,810
Common Stock	447.29	447.29	447.29	320.64	320.64	320.64
Additional Paid-In Capital	0.81	0.81	0.45	10.09	-	-
Retained Earnings	4,162	3,975	3,675	3,571	3,071	2,522
Treasury Stock	-	-	-	-100.99	-99.99	-
Comprehensive Income & Other	-189.33	-189.33	-95.02	14.32	19.59	37.64
Total Common Equity	4,421	4,234	4,028	3,815	3,311	2,881
Minority Interest	365.36	335.14	331.29	317.48	307.48	263.8
Shareholders' Equity	4,786	4,569	4,359	4,132	3,618	3,144
Total Liabilities & Equity	6,239	6,042	6,228	6,062	5,154	4,955
Total Debt	1,147	1,112	1,445	1,459	1,154	1,299
Net Cash (Debt)	-352.3	-413.56	-822.56	-864.77	-523.63	-455.02
Net Cash Per Share	-0.78	-0.92	-1.84	-1.94	-1.17	-1.01
Filing Date Shares Outstanding	447.29	447.29	447.29	447.95	449.09	449.09
Total Common Shares Outstanding	447.29	447.29	447.29	447.95	449.09	449.09
Working Capital	490.88	335.21	324.49	278.38	634.43	396.14
Book Value Per Share	9.88	9.47	9.00	8.52	7.37	6.41
Tangible Book Value	4,175	3,987	3,875	3,706	3,248	2,818
Tangible Book Value Per Share	9.34	8.91	8.66	8.27	7.23	6.27
Buildings	-	908.07	799.43	799.43	795.97	829.35
Machinery	-	720.38	673.9	632.72	577.32	501.77
Construction In Progress	-	1,039	1,076	850.66	260.37	198.88

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