SHA:603105 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	322.06	394.48	388.48	684.84	253.34	113.18
Trading Asset Securities	-	-	-	-	-	6.71
Cash & Short-Term Investments	322.06	394.48	388.48	684.84	253.34	119.89
Cash Growth	-34.29%	1.54%	-43.27%	170.32%	111.32%	71.58%
Accounts Receivable	334.25	318.95	282.68	190.76	80.24	62.41
Other Receivables	4.46	4.21	4.34	5.43	3.29	5.78
Receivables	338.71	323.17	287.03	196.2	83.53	68.19
Inventory	25.21	18.92	11.22	30.94	14.84	35.47
Other Current Assets	46.49	20.66	33.5	38.61	56.45	186.53
Total Current Assets	732.48	757.22	720.23	950.58	408.16	410.08
Property, Plant & Equipment	3,660	3,683	3,494	3,305	3,015	2,638
Long-Term Investments	19.5	19.18	14.34	11.71	10	-
Other Intangible Assets	40.2	40.58	40.65	41.59	36.07	36.6
Long-Term Deferred Tax Assets	16.29	14.26	21.49	18.63	14.47	13.46
Long-Term Deferred Charges	0.16	0.19	0.63	1.29	2.17	9.86
Other Long-Term Assets	7.99	7.5	5.76	21.98	25.13	31.24
Total Assets	4,476	4,522	4,297	4,351	3,511	3,140
Accounts Payable	132.77	83.37	64.65	111.67	231.95	174.6
Accrued Expenses	5.6	28.48	27.24	25.78	21.09	15.89
Short-Term Debt	260.19	209.15	190	160.32	30.03	92.39
Current Portion of Long-Term Debt	156.36	171.42	190	187.44	196.67	208.1
Current Portion of Leases	-	4.71	3.14	4.35	7.18	7.32
Current Income Taxes Payable	50.91	54.08	51.04	19.66	9.56	5.79
Current Unearned Revenue	6.41	3.14	5.4	12.82	1.44	1
Other Current Liabilities	1.74	92.17	54.01	82.89	64.76	26.66
Total Current Liabilities	613.99	646.51	585.49	604.92	562.69	531.76
Long-Term Debt	1,475	1,490	1,410	1,571	1,079	892
Long-Term Leases	85.77	87.83	85.75	83.46	80.64	84.36
Long-Term Unearned Revenue	14.44	14.82	16.5	12.53	14.66	17.46
Long-Term Deferred Tax Liabilities	-	-	-	0.03	0.01	-
Other Long-Term Liabilities	8.76	6.88	9.46	7.21	6.82	5.39
Total Liabilities	2,198	2,246	2,107	2,279	1,744	1,531
Common Stock	500.01	500.01	500.01	500	500	500
Additional Paid-In Capital	715.49	715.46	715.43	715.35	715.35	715.35
Retained Earnings	933.62	931.33	830.57	711.98	551.83	393.34
Comprehensive Income & Other	128.98	128.99	143.9	143.91	-	-
Total Common Equity	2,278	2,276	2,190	2,071	1,767	1,609
Shareholders' Equity	2,278	2,276	2,190	2,071	1,767	1,609
Total Liabilities & Equity	4,476	4,522	4,297	4,351	3,511	3,140
Total Debt	1,977	1,963	1,879	2,007	1,394	1,284
Net Cash (Debt)	-1,655	-1,569	-1,491	-1,322	-1,141	-1,164
Net Cash Per Share	-3.30	-3.13	-3.00	-2.64	-2.26	-2.33
Filing Date Shares Outstanding	500.01	500.01	500.01	500	500	500
Total Common Shares Outstanding	500.01	500.01	500.01	500	500	500
Working Capital	118.49	110.71	134.74	345.66	-154.53	-121.67
Book Value Per Share	4.56	4.55	4.38	4.14	3.53	3.22
Tangible Book Value	2,238	2,235	2,149	2,030	1,731	1,572
Tangible Book Value Per Share	4.48	4.47	4.30	4.06	3.46	3.14
Buildings	-	534.87	149.46	62.75	49.54	49.65
Machinery	-	4,302	4,063	3,797	3,430	3,084
Construction In Progress	-	75.95	333.4	314.2	227.57	121.73

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