Shanghai Material Trading 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	1,078	1,044	1,145	1,040	742.56	739.74
Cash & Short-Term Investments	1,078	1,044	1,145	1,040	742.56	739.74
Cash Growth	4.19%	-8.80%	10.10%	40.09%	0.38%	-16.81%
Accounts Receivable	25.54	24.88	38.85	31.8	39.11	38.92
Other Receivables	96.54	119.13	155.24	201.82	117.18	72.05
Receivables	122.07	144	194.09	233.63	156.29	110.97
Inventory	157.5	138.82	200.74	1,199	1,538	223.61
Prepaid Expenses	-	2.32	2.18	0.03	0.14	0.44
Other Current Assets	78.84	72.04	88.52	180.43	259.47	171.64
Total Current Assets	1,436	1,402	1,631	2,653	2,696	1,246
Property, Plant & Equipment	154.3	154.04	245.43	316.13	364.14	435.56
Long-Term Investments	79.26	85.01	84.7	83.04	304.36	244.85
Other Intangible Assets	13.26	13.71	13.84	14.39	14.45	14.59
Long-Term Deferred Tax Assets	7.36	7.26	7.58	8.54	6.9	2.58
Long-Term Deferred Charges	24.27	25.81	35.68	36.34	44.48	53.86
Other Long-Term Assets	6.77	6.89	14.96	20.6	40.95	42.94
Total Assets	1,722	1,694	2,033	3,132	3,472	2,041
Accounts Payable	102.39	124.79	316.71	1,408	1,701	327.41
Accrued Expenses	18.56	33.6	38.16	50.98	71.95	51.04
Short-Term Debt	45.03	17.19	65.41	101.6	181.83	195.75
Current Portion of Long-Term Debt	39.29	-	-	-	-	-
Current Portion of Leases	-	25.62	29.11	29.62	32.69	37.66
Current Income Taxes Payable	13	8.95	13.31	13.6	10.1	5.9
Current Unearned Revenue	48.9	54.18	58.19	64.48	87.5	38.83
Other Current Liabilities	99.3	81.6	84.34	65.14	72.75	72.06
Total Current Liabilities	366.45	345.94	605.23	1,734	2,158	728.64
Long-Term Leases	24.05	21.49	109.58	109.46	133.92	177.02
Long-Term Unearned Revenue	18.65	18.97	20.23	21.49	27.35	29.63
Pension & Post-Retirement Benefits	-	30.84	30.81	28.72	25.72	24.69
Long-Term Deferred Tax Liabilities	23.82	24.44	23.92	26.77	31.9	32.99
Other Long-Term Liabilities	30.84	-	14.65	18.77	23.94	27.4
Total Liabilities	463.81	441.68	804.42	1,939	2,400	1,020
Common Stock	495.97	495.97	495.97	495.97	495.97	495.97
Additional Paid-In Capital	1,783	1,783	1,783	1,783	1,783	1,783
Retained Earnings	-1,044	-1,050	-1,079	-1,130	-1,270	-1,331
Comprehensive Income & Other	6.33	7.27	6.15	5.07	8.38	11.77
Total Common Equity	1,241	1,236	1,206	1,154	1,018	959.75
Minority Interest	16.9	16.77	22.84	39.4	53.7	60.67
Shareholders' Equity	1,258	1,253	1,229	1,194	1,071	1,020
Total Liabilities & Equity	1,722	1,694	2,033	3,132	3,472	2,041
Total Debt	108.36	64.31	204.11	240.68	348.44	410.42
Net Cash (Debt)	969.6	980.19	941.19	799.59	394.12	329.32
Net Cash Growth	10.22%	4.14%	17.71%	102.88%	19.68%	-52.05%
Net Cash Per Share	1.96	1.98	1.90	1.61	0.79	0.66
Filing Date Shares Outstanding	494	495.97	495.97	495.97	495.97	495.97
Total Common Shares Outstanding	494	495.97	495.97	495.97	495.97	495.97
Working Capital	1,070	1,056	1,026	919.72	538.96	517.77
Book Value Per Share	2.51	2.49	2.43	2.33	2.05	1.94
Tangible Book Value	1,228	1,222	1,192	1,140	1,003	945.17
Tangible Book Value Per Share	2.49	2.46	2.40	2.30	2.02	1.91
Buildings	-	205.82	250.9	345.88	344.18	342.46
Machinery	-	137.16	143.76	145.84	147.73	142.7
Construction In Progress	-	19.32	5.45	4.05	0.61	0.91