Hanshang Group 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	101.52	135.79	142.98	117.97	272.21	329.4
Cash & Short-Term Investments	101.52	135.79	142.98	117.97	272.21	329.4
Cash Growth	34.64%	-5.03%	21.20%	-56.66%	-17.36%	183.41%
Accounts Receivable	198.49	189.18	276.92	264.78	185.72	379.04
Other Receivables	68.42	15.73	19.44	70.81	56.34	43.31
Receivables	266.91	204.91	296.36	335.6	242.05	422.35
Inventory	224.54	258.34	232.43	205.69	156.96	118.58
Other Current Assets	39.05	30.49	42.58	50.41	47.63	118.02
Total Current Assets	632.03	629.53	714.35	709.67	718.86	988.36
Property, Plant & Equipment	1,684	1,725	1,762	1,441	1,426	1,326
Long-Term Investments	84.53	85.98	79.8	64	82.02	71.45
Goodwill	289.88	289.88	290.04	290.04	289.88	289.88
Other Intangible Assets	182.36	242.76	252.35	270.25	268.76	225.05
Long-Term Deferred Tax Assets	29.12	30.58	32.3	30.58	8.26	6.93
Long-Term Deferred Charges	28.43	39.42	42.4	32.56	43.57	71.81
Other Long-Term Assets	462.02	481.74	521.81	680.8	412.89	268.45
Total Assets	3,392	3,524	3,695	3,519	3,250	3,248
Accounts Payable	291.94	307.09	322.6	195.28	172.67	248.79
Accrued Expenses	30.34	151.95	160.91	186.55	155.74	125.4
Short-Term Debt	496.81	339.93	381.9	401.56	408.55	662
Current Portion of Long-Term Debt	108.52	263.96	182.63	135.79	177.85	-
Current Portion of Leases	-	23.6	10.46	10.04	10.61	-
Current Income Taxes Payable	46.8	12.45	9.15	22.39	16.02	11
Current Unearned Revenue	9.08	9.97	12.18	31.47	32.19	32.06
Other Current Liabilities	372.23	319.57	380.35	322.79	246.88	835.57
Total Current Liabilities	1,356	1,429	1,460	1,306	1,221	1,915
Long-Term Debt	77.01	137.01	221.31	235	69.79	441.4
Long-Term Leases	90.46	87.13	105	114.98	114.49	-
Long-Term Unearned Revenue	20.71	20.94	23.17	22.7	22.84	24.99
Long-Term Deferred Tax Liabilities	36.28	38.48	44.65	48	23.47	24.89
Other Long-Term Liabilities	4.59	8.43	11.56	5.24	5.72	6.83
Total Liabilities	1,585	1,721	1,866	1,732	1,457	2,413
Common Stock	295.03	295.03	295.03	295.03	295.03	226.95
Additional Paid-In Capital	959.61	959.61	959.61	959.61	959.55	128.76
Retained Earnings	490.69	481.38	495.96	452.1	391.92	306.24
Treasury Stock	-75.5	-75.5	-75.5	-40	-	-
Comprehensive Income & Other	-	-0.01	-0.01	-	0.51	0.51
Total Common Equity	1,670	1,661	1,675	1,667	1,647	662.46
Minority Interest	137.28	143.39	153.86	120.4	146.36	172.28
Shareholders' Equity	1,807	1,804	1,829	1,787	1,793	834.75
Total Liabilities & Equity	3,392	3,524	3,695	3,519	3,250	3,248
Total Debt	772.8	851.63	901.3	897.37	781.29	1,103
Net Cash (Debt)	-671.28	-715.84	-758.32	-779.39	-509.08	-774
Net Cash Per Share	-2.28	-2.42	-2.57	-2.64	-2.06	-3.41
Filing Date Shares Outstanding	289.01	289.01	289.01	291.78	295.03	226.95
Total Common Shares Outstanding	289.01	289.01	289.01	291.78	295.03	226.95
Working Capital	-723.69	-798.98	-745.83	-596.18	-501.65	-926.46
Book Value Per Share	5.78	5.75	5.80	5.71	5.58	2.92
Tangible Book Value	1,198	1,128	1,133	1,106	1,088	147.53
Tangible Book Value Per Share	4.14	3.90	3.92	3.79	3.69	0.65
Buildings	-	2,031	1,983	1,750	1,667	1,663
Machinery	-	415.45	421.17	378.26	373.54	342.8
Construction In Progress	-	146.8	142.58	26.01	24.79	26.85

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