SHA:603025 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	630.31	1,017	1,141	1,230	952.53	747.25
Trading Asset Securities	473.76	278.48	190.63	26.44	25.96	9.69
Cash & Short-Term Investments	1,104	1,296	1,332	1,256	978.49	756.94
Cash Growth	-15.07%	-2.70%	6.04%	28.37%	29.27%	-0.81%
Accounts Receivable	1,890	1,798	1,237	1,012	739.12	520.94
Other Receivables	266.46	273.03	283.97	131.84	15.73	3.09
Receivables	2,156	2,071	1,521	1,144	754.86	524.03
Inventory	703.49	637.38	514.35	469.26	502.59	376.37
Prepaid Expenses	-	1.83	1.65	-	-	-
Other Current Assets	62.21	73.81	78.63	50.43	13.77	22.65
Total Current Assets	4,026	4,080	3,448	2,920	2,250	1,680
Property, Plant & Equipment	244	242.38	226.83	230.99	165.11	197.5
Long-Term Investments	108.6	108.77	113.51	133.47	93.21	105.92
Goodwill	373.72	373.72	413.53	413.53	413.53	230.36
Other Intangible Assets	32.21	33.37	37.97	40.59	45.22	16.59
Long-Term Accounts Receivable	53.34	70.1	109.21	141.03	-	-
Long-Term Deferred Tax Assets	51.13	43.02	32.79	22.21	12.12	5.32
Long-Term Deferred Charges	7.29	8.29	8.61	12.7	14.19	8.59
Other Long-Term Assets	16.52	20.09	22.19	21.14	133.43	83.88
Total Assets	4,913	4,980	4,412	3,936	3,127	2,328
Accounts Payable	567.57	551	433.53	528.56	352.96	200.69
Accrued Expenses	38.22	96.04	89.63	79.93	51.49	39.34
Short-Term Debt	255.14	591.23	652.01	502.97	321.32	-
Current Portion of Long-Term Debt	17.89	10	0.07	-	-	-
Current Portion of Leases	-	10.03	9.38	7.31	6.31	3.23
Current Income Taxes Payable	82.98	38.51	21.81	18.75	8.54	12.47
Current Unearned Revenue	211.24	175.83	92.67	57.11	25.73	8.64
Other Current Liabilities	124.56	120.29	53.31	90.37	121.74	28.1
Total Current Liabilities	1,298	1,593	1,352	1,285	888.09	292.47
Long-Term Debt	20	29	50.1	0.07	-	-
Long-Term Leases	12.1	8.08	15.48	8.35	9.4	12.46
Long-Term Unearned Revenue	0.7	0.76	1.28	2.18	2.01	1.6
Long-Term Deferred Tax Liabilities	7.06	6.86	10.11	10.98	8.87	2.25
Other Long-Term Liabilities	281.98	281.22	266.34	199.45	54	-
Total Liabilities	1,619	1,919	1,696	1,506	962.38	308.78
Common Stock	1,117	1,117	1,109	1,109	924.33	924.33
Additional Paid-In Capital	125.94	121.86	63.74	90.62	203.14	201.52
Retained Earnings	1,765	1,527	1,206	954.01	918.25	852.78
Treasury Stock	-55.2	-55.2	-	-	-9.28	-10.26
Comprehensive Income & Other	12.25	11	7.87	4.48	1.4	1.4
Total Common Equity	2,965	2,722	2,386	2,158	2,038	1,970
Minority Interest	328.52	339.2	330.48	271.27	126.3	49.6
Shareholders' Equity	3,293	3,061	2,717	2,430	2,164	2,019
Total Liabilities & Equity	4,913	4,980	4,412	3,936	3,127	2,328
Total Debt	305.13	648.33	727.04	518.7	337.02	15.69
Net Cash (Debt)	798.94	647.63	604.92	737.39	641.47	741.25
Net Cash Growth	40.13%	7.06%	-17.96%	14.95%	-13.46%	-2.86%
Net Cash Per Share	0.72	0.58	0.55	0.67	0.57	0.67
Filing Date Shares Outstanding	1,117	1,117	1,109	1,109	1,109	1,109
Total Common Shares Outstanding	1,117	1,117	1,109	1,109	1,109	1,109
Working Capital	2,729	2,487	2,095	1,635	1,362	1,388
Book Value Per Share	2.66	2.44	2.15	1.95	1.84	1.78
Tangible Book Value	2,559	2,315	1,935	1,704	1,579	1,723
Tangible Book Value Per Share	2.29	2.07	1.74	1.54	1.42	1.55
Buildings	-	346.89	321.72	321.72	165.17	214.99
Machinery	-	136.67	120.58	114.32	106.15	79.72
Construction In Progress	-	1.4	0.94	0.47	0.53	6.15

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