Tianfeng Securities 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	23,900	22,144	13,787	16,970	12,308	9,066
Short-Term Investments	1,621	1,564	12,262	8,600	10,516	11,451
Trading Asset Securities	35,002	35,070	35,083	33,477	32,580	34,375
Accounts Receivable	5,478	5,186	7,786	7,159	8,043	7,549
Other Receivables	2,672	2,581	274.38	438.28	529.36	1,657
Property, Plant & Equipment	582.91	682.53	813.74	913.77	1,106	1,232
Goodwill	51.42	51.42	51.42	51.42	51.42	51.42
Other Intangible Assets	300.37	322.3	319.85	326.07	345.59	361.93
Investments in Debt & Equity Securities	10,854	11,357	3,872	3,777	3,942	6,384
Other Current Assets	3,789	2,499	13,548	15,792	14,411	9,774
Long-Term Deferred Tax Assets	1,697	1,751	1,713	1,400	1,097	482.5
Other Long-Term Assets	9,021	9,015	8,253	10,490	13,297	14,061
Total Assets	94,968	92,223	97,896	99,548	98,350	96,559
Accounts Payable	-	-	217.95	224.69	293.88	465.29
Accrued Expenses	13,409	11,327	12,491	8,259	9,432	10,778
Short-Term Debt	18,939	16,506	13,507	11,326	10,003	20,446
Current Portion of Long-Term Debt	-	-	14,863	11,422	29,679	6,880
Current Portion of Leases	-	-	125.67	112.64	127	112.24
Other Current Liabilities	404.31	647	576.82	671.3	1,287	656.92
Long-Term Debt	29,176	30,485	26,575	37,154	19,477	28,077
Long-Term Leases	238.43	342.61	315.13	377.2	454.91	409.27
Long-Term Unearned Revenue	29.77	27.88	34.42	34.04	74.17	58.16
Long-Term Deferred Tax Liabilities	617.1	650.12	649.4	424.97	310.97	396.42
Other Long-Term Liabilities	4,326	4,379	4,347	4,935	3,311	2,332
Total Liabilities	67,139	64,365	73,714	74,962	74,496	70,736
Common Stock	10,074	10,074	8,666	8,666	8,666	8,666
Additional Paid-In Capital	15,911	15,911	13,590	13,587	13,410	13,410
Retained Earnings	2,577	2,578	2,423	2,463	2,161	3,750
Comprehensive Income & Other	-1,162	-1,170	-1,010	-821.15	-860.06	-563.1
Total Common Equity	27,399	27,392	23,417	23,642	23,124	25,122
Minority Interest	430.24	465.93	765.05	944.42	729.46	700.63
Shareholders' Equity	27,829	27,858	24,182	24,586	23,854	25,823
Total Liabilities & Equity	94,968	92,223	97,896	99,548	98,350	96,559
Total Debt	48,353	47,334	55,385	60,391	59,741	55,925
Net Cash (Debt)	12,169	11,444	5,747	-1,344	-4,337	-1,033
Net Cash Growth	54.02%	99.15%	-	-	-	-
Net Cash Per Share	-	1.47	0.67	-0.18	-0.49	-0.12
Filing Date Shares Outstanding	-	8,197	8,598	8,666	8,666	8,666
Total Common Shares Outstanding	-	8,197	8,598	8,666	8,666	8,666
Working Capital	39,709	40,564	40,948	50,400	27,520	34,408
Book Value Per Share	-	3.34	2.72	2.73	2.67	2.90
Tangible Book Value	27,047	27,018	23,046	23,264	22,727	24,709
Tangible Book Value Per Share	-	3.30	2.68	2.68	2.62	2.85

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