Yangzhou Tinfulong 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	388.13	1,407	759.96	615.05	656.9	477.13
Trading Asset Securities	1,594	478.42	-	0.09	0.03	104.79
Cash & Short-Term Investments	1,982	1,885	759.96	615.14	656.93	581.93
Cash Growth	161.41%	148.03%	23.54%	-6.36%	12.89%	-25.28%
Accounts Receivable	661.4	676.01	657.55	663.98	522.79	603.44
Other Receivables	0.28	1.1	1.29	2.91	1.58	1.91
Receivables	661.68	677.11	658.85	666.89	524.37	605.35
Inventory	530.45	593.61	660.23	408.74	397.91	343.3
Other Current Assets	98.01	79.88	141.89	111.83	56.56	43.18
Total Current Assets	3,272	3,236	2,221	1,803	1,636	1,574
Property, Plant & Equipment	1,537	1,430	1,447	1,483	1,240	903.7
Long-Term Investments	39.35	39.35	35.16	33.3	34.88	35.53
Other Intangible Assets	138.88	123.7	107.06	107.68	110.03	112.02
Long-Term Deferred Tax Assets	31.4	26.48	26.09	18.04	14.64	10.4
Long-Term Deferred Charges	3.98	3.88	9.2	14.43	1.95	2.36
Other Long-Term Assets	32.74	87.89	26.65	29.91	187.16	163.07
Total Assets	5,056	4,947	3,872	3,489	3,224	2,801
Accounts Payable	92.61	117.63	133.07	230.65	335.74	157.08
Accrued Expenses	27.53	42.42	68.65	62.14	54.79	43.78
Short-Term Debt	-	0.01	0.35	-	66.07	143.45
Current Portion of Leases	-	-	2.92	1.37	0.92	-
Current Income Taxes Payable	36.34	36.97	9.87	16.23	12.01	34.17
Current Unearned Revenue	54.51	21.45	25.05	27.96	27.46	51.8
Other Current Liabilities	94.46	91.21	84.36	56.46	62.66	59.35
Total Current Liabilities	305.46	309.69	324.27	394.8	559.65	489.64
Long-Term Leases	-	-	-	1.43	-	0.92
Long-Term Unearned Revenue	31.86	32.75	35.84	35.14	34.19	36.15
Long-Term Deferred Tax Liabilities	40.14	33.64	39.65	40.63	44.07	45.1
Total Liabilities	377.45	376.08	399.75	472	637.91	571.81
Common Stock	400.01	400.01	360	360	360	360
Additional Paid-In Capital	1,937	1,937	1,121	1,121	1,121	1,121
Retained Earnings	2,337	2,227	1,985	1,531	1,100	742
Comprehensive Income & Other	4.16	6.68	5.72	4.38	5.11	5.59
Total Common Equity	4,678	4,571	3,472	3,017	2,587	2,229
Shareholders' Equity	4,678	4,571	3,472	3,017	2,587	2,229
Total Liabilities & Equity	5,056	4,947	3,872	3,489	3,224	2,801
Total Debt	-	0.01	3.27	2.81	66.99	144.37
Net Cash (Debt)	1,982	1,885	756.69	612.33	589.95	437.55
Net Cash Growth	162.12%	149.10%	23.58%	3.79%	34.83%	-14.45%
Net Cash Per Share	5.16	5.03	2.10	1.70	1.63	1.25
Filing Date Shares Outstanding	393.82	404.91	360	360	360	349.06
Total Common Shares Outstanding	393.82	404.91	360	360	360	349.06
Working Capital	2,967	2,926	1,897	1,408	1,076	1,084
Book Value Per Share	11.88	11.29	9.64	8.38	7.18	6.39
Tangible Book Value	4,540	4,447	3,365	2,909	2,476	2,117
Tangible Book Value Per Share	11.53	10.98	9.35	8.08	6.88	6.06
Buildings	-	-	807.07	803.14	451.18	453.14
Machinery	-	-	1,240	1,128	809.77	775.77
Construction In Progress	205.75	-	138.26	169.57	499.41	110.55

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