Zhejiang Wansheng 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	1,322	1,249	1,254	1,183	1,680	528.4
Short-Term Investments	-	21.64	-	-	-	-
Trading Asset Securities	10.12	35.23	105.42	137.02	50.01	-
Cash & Short-Term Investments	1,332	1,306	1,360	1,320	1,730	528.4
Cash Growth	-11.75%	-3.97%	2.98%	-23.67%	227.39%	68.30%
Accounts Receivable	1,021	845.75	855.53	548.29	713.18	762.04
Other Receivables	83.88	2.47	5.34	19.2	8.92	38.58
Receivables	1,105	848.22	860.87	567.49	722.11	800.63
Inventory	543.43	572.2	505.21	403.99	505.6	467.81
Prepaid Expenses	-	-	-	-	0	1.08
Other Current Assets	105.97	163.01	125.02	181.46	101.3	57.02
Total Current Assets	3,087	2,889	2,851	2,473	3,059	1,855
Property, Plant & Equipment	2,634	2,598	3,353	2,971	2,192	1,086
Long-Term Investments	133.2	133.08	194.08	168.24	176.54	174.88
Goodwill	134.82	134.82	134.82	49.26	69.42	68.27
Other Intangible Assets	407.84	410	502.22	479.55	420.17	86.84
Long-Term Deferred Tax Assets	23.1	22.93	19.12	12.72	19.14	23.72
Long-Term Deferred Charges	21.59	22.51	24.95	14.5	0.38	-
Other Long-Term Assets	59.65	61.81	120.67	111.56	117.53	21.67
Total Assets	6,501	6,272	7,200	6,280	6,054	3,317
Accounts Payable	1,015	976.12	1,066	935.14	869.08	564.48
Accrued Expenses	58.61	112.89	123.03	86.86	73.85	82.23
Short-Term Debt	831.81	841.52	519.29	67.08	318.97	70.7
Current Portion of Long-Term Debt	200.86	132.14	79.42	40.07	85.41	45.57
Current Portion of Leases	-	5.07	2.85	1.98	-	-
Current Income Taxes Payable	24.19	7.61	15.17	6.9	16.02	30.49
Current Unearned Revenue	28.61	11.6	7.42	8.61	18.53	15.38
Other Current Liabilities	38.54	37.91	101.6	39.08	133.82	11.96
Total Current Liabilities	2,198	2,125	1,915	1,186	1,516	820.82
Long-Term Debt	839.53	643.47	788.35	721	375.93	84.13
Long-Term Leases	28.62	34.33	9.91	7.22	3.22	-
Long-Term Unearned Revenue	177.72	180.99	186.29	192.53	132.47	42.44
Long-Term Deferred Tax Liabilities	7.09	7.36	8.27	2.22	2.35	1.48
Other Long-Term Liabilities	383.14	381.63	381.29	0.02	0.07	0.01
Total Liabilities	3,634	3,373	3,289	2,109	2,030	948.88
Common Stock	589.58	589.58	589.58	589.58	589.58	485.27
Additional Paid-In Capital	1,433	1,433	1,433	1,696	1,703	290.93
Retained Earnings	779.17	765.12	1,763	1,777	1,711	1,594
Treasury Stock	-203.08	-157.74	-153.72	-2	-	-
Comprehensive Income & Other	-7.71	-1.9	6.11	4.48	2.61	-1.96
Total Common Equity	2,591	2,628	3,638	4,065	4,007	2,368
Minority Interest	276.82	271.65	273.47	106.93	17.24	-
Shareholders' Equity	2,868	2,900	3,911	4,172	4,024	2,368
Total Liabilities & Equity	6,501	6,272	7,200	6,280	6,054	3,317
Total Debt	1,901	1,657	1,400	837.35	783.53	200.4
Net Cash (Debt)	-568.73	-350.64	-39.96	483.13	946.39	328
Net Cash Growth	-	-	-	-48.95%	188.53%	-
Net Cash Per Share	-0.91	-0.61	-0.07	0.81	1.68	0.68
Filing Date Shares Outstanding	702.56	572.28	572.67	589.39	589.58	485.27
Total Common Shares Outstanding	702.56	572.28	572.67	589.39	589.58	485.27
Working Capital	888.99	764.48	936.14	1,288	1,543	1,034
Book Value Per Share	3.69	4.59	6.35	6.90	6.80	4.88
Tangible Book Value	2,048	2,083	3,001	3,536	3,517	2,213
Tangible Book Value Per Share	2.92	3.64	5.24	6.00	5.97	4.56
Buildings	-	1,590	1,604	732.99	693.84	532.74
Machinery	-	1,666	1,507	1,066	938.03	657.77
Construction In Progress	-	297.67	996.91	1,692	963.46	203.01

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