Xinfengming Group 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	13,781	8,542	10,174	8,111	6,290	5,647
Trading Asset Securities	-	-	9.97	3.12	13.6	1.26
Cash & Short-Term Investments	13,781	8,542	10,184	8,114	6,304	5,648
Cash Growth	5.37%	-16.13%	25.51%	28.72%	11.61%	66.14%
Accounts Receivable	1,523	1,473	1,384	1,325	832.69	535.23
Other Receivables	90.62	92.65	70.75	143.17	18.12	638.89
Receivables	1,613	1,566	1,455	1,468	850.81	1,174
Inventory	10,355	5,870	4,452	4,309	3,719	3,222
Prepaid Expenses	-	-	-	-	45.75	-
Other Current Assets	1,195	978.93	688.49	658.15	989.92	910.22
Total Current Assets	26,945	16,956	16,780	14,549	11,909	10,954
Property, Plant & Equipment	35,850	35,622	31,712	26,707	25,678	22,589
Long-Term Investments	692.7	685.9	427.58	374.4	327.27	273.06
Other Intangible Assets	2,176	2,195	1,904	1,737	1,745	1,637
Long-Term Deferred Tax Assets	415.91	445.13	320.61	335.28	261.76	70.47
Long-Term Deferred Charges	34.23	34.42	45.93	57.14	66.08	72.26
Other Long-Term Assets	966.77	836.08	2,021	1,380	1,321	1,913
Total Assets	67,081	56,774	53,212	45,140	41,308	37,508
Accounts Payable	6,771	5,736	5,947	4,454	3,854	3,461
Accrued Expenses	224.09	442.2	396.75	483.31	375.57	512.95
Short-Term Debt	25,851	17,349	14,548	9,202	8,491	6,190
Current Portion of Long-Term Debt	1,313	2,060	1,584	1,871	1,757	671.96
Current Portion of Leases	-	99.48	95.55	95.01	-	-
Current Income Taxes Payable	195.73	129.88	37.97	30.2	1.17	191
Current Unearned Revenue	2,527	2,586	2,087	485.57	563.37	573.37
Other Current Liabilities	535.42	475.17	492.23	165.67	152.96	153.14
Total Current Liabilities	37,417	28,877	25,189	16,786	15,196	11,754
Long-Term Debt	7,267	8,532	9,329	10,376	9,749	8,816
Long-Term Leases	-	260.81	361.08	364.84	-	-
Long-Term Unearned Revenue	983.34	1,006	849.32	721.36	605.12	367.02
Long-Term Deferred Tax Liabilities	67.14	80.25	103.41	94.18	54.74	147.61
Other Long-Term Liabilities	262.56	-	5.11	-	-	-
Total Liabilities	45,997	38,757	35,837	28,343	25,604	21,084
Common Stock	1,677	1,525	1,525	1,529	1,529	1,530
Additional Paid-In Capital	8,405	5,650	5,718	5,710	5,714	5,710
Retained Earnings	11,287	10,919	10,237	9,521	8,435	8,980
Treasury Stock	-329.1	-389.24	-419.32	-246.84	-246.84	-77.64
Comprehensive Income & Other	-8.15	264.79	295.48	281.81	272.61	281.94
Total Common Equity	21,032	17,969	17,356	16,796	15,704	16,425
Minority Interest	52.21	48.6	18.67	1.47	-	-
Shareholders' Equity	21,085	18,018	17,375	16,797	15,704	16,425
Total Liabilities & Equity	67,081	56,774	53,212	45,140	41,308	37,508
Total Debt	34,431	28,301	25,917	21,909	19,997	15,678
Net Cash (Debt)	-20,649	-19,760	-15,733	-13,795	-13,693	-10,030
Net Cash Per Share	-13.81	-13.39	-10.44	-9.14	-9.33	-6.94
Filing Date Shares Outstanding	1,532	1,654	1,495	1,506	1,506	1,530
Total Common Shares Outstanding	1,532	1,495	1,495	1,506	1,506	1,530
Working Capital	-10,472	-11,921	-8,409	-2,238	-3,287	-799.86
Book Value Per Share	13.73	12.02	11.61	11.15	10.42	10.74
Tangible Book Value	18,856	15,774	15,452	15,058	13,959	14,788
Tangible Book Value Per Share	12.31	10.55	10.33	10.00	9.27	9.67
Buildings	-	9,057	7,749	6,815	5,787	4,436
Machinery	-	46,274	34,720	32,667	28,536	24,951
Construction In Progress	-	913.63	6,591	1,692	3,063	2,488

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