TSI 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
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
Cash & Equivalents	321.39	215.12	171.92	139.12	196.08
Trading Asset Securities	391.03	536.47	170.57	127.49	18.1
Cash & Short-Term Investments	712.42	751.6	342.49	266.62	214.18
Cash Growth	114.21%	119.45%	28.46%	24.48%	-
Accounts Receivable	209.94	225.63	177.86	173.17	135.53
Other Receivables	12.7	11.49	7.04	2.86	5.13
Receivables	222.65	237.12	184.9	176.03	140.65
Inventory	230.29	221.02	209.41	176.51	204.23
Other Current Assets	22.08	19.96	26.51	22.78	15.09
Total Current Assets	1,187	1,230	763.31	641.93	574.15
Property, Plant & Equipment	486.93	448.43	289.2	267.75	240.88
Long-Term Investments	6.92	6.98	7.62	9.76	10.44
Goodwill	32.29	32.29	32.29	32.29	32.29
Other Intangible Assets	32.6	34.22	40.65	38.38	44.02
Long-Term Deferred Tax Assets	25.67	25.19	23.7	22.01	19.38
Long-Term Deferred Charges	0.14	0.15	-	-	-
Other Long-Term Assets	64.96	52.74	29.25	6.92	3.3
Total Assets	1,837	1,830	1,186	1,019	924.46
Accounts Payable	134.04	139.3	131.6	119.52	141.02
Accrued Expenses	23.15	25.38	22.81	18.32	23.55
Short-Term Debt	10.01	10.01	20.02	46.25	97.59
Current Portion of Long-Term Debt	6.37	8.36	-	-	-
Current Income Taxes Payable	3.85	6.22	6.28	7.94	11.91
Current Unearned Revenue	3.71	4.65	2.87	2.82	1.27
Other Current Liabilities	2.75	5.62	10.56	7.67	5.95
Total Current Liabilities	183.88	199.53	194.14	202.52	281.3
Long-Term Leases	24.9	25.26	3.87	5.41	2.9
Long-Term Unearned Revenue	10.04	10.27	3.59	3.67	3.75
Long-Term Deferred Tax Liabilities	27.02	24.81	30.68	27.64	19.92
Other Long-Term Liabilities	10.03	10.42	7.63	8.42	9.25
Total Liabilities	255.87	270.28	239.91	247.67	317.11
Common Stock	400.01	400.01	350	350	350
Additional Paid-In Capital	514.54	514.54	84.73	84.73	84.73
Retained Earnings	661.55	638.63	504.94	330.49	170.47
Comprehensive Income & Other	-5.79	-3.81	-2.45	-1.85	-5.36
Total Common Equity	1,570	1,549	937.21	763.37	599.85
Minority Interest	10.76	10.05	8.9	8	7.5
Shareholders' Equity	1,581	1,559	946.11	771.36	607.35
Total Liabilities & Equity	1,837	1,830	1,186	1,019	924.46
Total Debt	41.28	43.62	23.89	51.66	100.49
Net Cash (Debt)	671.14	707.97	318.61	214.96	113.68
Net Cash Growth	136.46%	122.21%	48.22%	89.08%	-
Net Cash Per Share	1.77	1.91	0.91	0.62	0.33
Filing Date Shares Outstanding	382.12	392.73	350	347.86	346.52
Total Common Shares Outstanding	382.12	392.73	350	347.86	346.52
Working Capital	1,004	1,030	569.17	439.41	292.86
Book Value Per Share	4.11	3.95	2.68	2.19	1.73
Tangible Book Value	1,505	1,483	864.27	692.7	523.54
Tangible Book Value Per Share	3.94	3.78	2.47	1.99	1.51
Buildings	-	-	158.11	149.66	136.69
Machinery	-	-	301.5	265.77	229.65
Construction In Progress	-	-	21.69	15.07	18.1

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