SHA:601965 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	2,092	2,827	1,817	2,381	1,799	1,420
Trading Asset Securities	523.99	22.3	8.37	3.91	4.22	6.35
Cash & Short-Term Investments	2,616	2,850	1,826	2,385	1,803	1,427
Cash Growth	55.87%	56.10%	-23.46%	32.29%	26.38%	8.03%
Accounts Receivable	3,003	3,043	2,452	1,847	1,553	1,152
Other Receivables	60.8	52.3	82.09	144.88	31.47	61.8
Receivables	3,063	3,096	2,534	1,991	1,584	1,214
Inventory	370.21	320.23	345.27	268.1	240.61	230.77
Other Current Assets	182.21	143.36	200.82	90.5	56.58	31.99
Total Current Assets	6,232	6,409	4,905	4,735	3,684	2,903
Property, Plant & Equipment	6,701	6,566	4,426	3,575	3,170	2,965
Long-Term Investments	105.08	121.94	125.28	231.88	222.9	170.5
Goodwill	7.21	7.21	-	-	-	-
Other Intangible Assets	762.11	769.58	431.67	450.11	425.44	378.78
Long-Term Deferred Tax Assets	100.56	94.12	79.34	68.02	64.12	53.7
Long-Term Deferred Charges	52.98	50.62	43.6	31.84	29.6	23.75
Other Long-Term Assets	64.02	53.48	23.45	32.84	444.79	689.36
Total Assets	14,025	14,072	10,035	9,124	8,041	7,184
Accounts Payable	1,221	1,485	1,239	894.48	663.41	538.87
Accrued Expenses	370.56	411.49	341.8	273.29	174.86	111.59
Short-Term Debt	-	21.82	8.01	5.31	10.54	-
Current Portion of Long-Term Debt	166	124.33	2.79	2.79	-	2.83
Current Portion of Leases	-	-	37.79	15.07	8.68	5.91
Current Income Taxes Payable	69.45	126.85	32.51	33.24	18.28	29.61
Current Unearned Revenue	163.26	126.09	122.89	289.69	340.94	308.59
Other Current Liabilities	145.68	143.78	293.5	389.59	325.54	186.07
Total Current Liabilities	2,136	2,439	2,078	1,903	1,542	1,183
Long-Term Debt	1,212	1,122	4.61	5.57	-	-
Long-Term Leases	469.69	463.19	205.61	36.6	22.58	8.14
Long-Term Unearned Revenue	341.73	348.05	286.91	248.19	258.92	267.48
Long-Term Deferred Tax Liabilities	19.16	19.99	9.46	8.27	15.69	1.84
Other Long-Term Liabilities	17.3	17.3	-	-	-	-
Total Liabilities	4,196	4,410	2,585	2,202	1,839	1,461
Common Stock	1,003	1,003	1,003	1,004	1,005	989.23
Additional Paid-In Capital	1,809	1,808	1,750	1,852	1,783	1,596
Retained Earnings	5,243	5,078	4,415	3,941	3,411	3,019
Treasury Stock	-49.86	-52.34	-105.4	-210.65	-251.6	-124.05
Comprehensive Income & Other	-2.01	-2.01	-2.01	-2.01	-2.01	-2.01
Total Common Equity	8,003	7,835	7,061	6,584	5,946	5,478
Minority Interest	1,825	1,827	389	337.87	255.66	245
Shareholders' Equity	9,829	9,663	7,450	6,922	6,201	5,723
Total Liabilities & Equity	14,025	14,072	10,035	9,124	8,041	7,184
Total Debt	1,848	1,731	258.82	65.34	41.79	16.88
Net Cash (Debt)	768.5	1,118	1,567	2,320	1,761	1,410
Net Cash Growth	-27.85%	-28.62%	-32.46%	31.71%	24.93%	8.03%
Net Cash Per Share	0.77	1.12	1.59	2.36	1.79	1.43
Filing Date Shares Outstanding	1,029	1,003	1,003	1,004	1,005	989.23
Total Common Shares Outstanding	1,029	1,003	1,003	1,004	1,005	989.23
Working Capital	4,096	3,970	2,827	2,832	2,142	1,719
Book Value Per Share	7.78	7.81	7.04	6.56	5.92	5.54
Tangible Book Value	7,234	7,059	6,629	6,134	5,520	5,099
Tangible Book Value Per Share	7.03	7.04	6.61	6.11	5.49	5.15
Buildings	-	-	2,224	2,145	1,940	1,902
Machinery	-	-	3,204	2,770	2,468	2,255
Construction In Progress	-	-	948.89	527.65	328.86	155.28

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