SHA:603685 Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	245.44	184.71	322.15	333.22	393.21	238.68
Short-Term Investments	-	-	-	50	-	-
Trading Asset Securities	7.39	7.39	0.91	-	129.07	9.65
Cash & Short-Term Investments	252.83	192.1	323.07	383.22	522.28	248.32
Cash Growth	-0.81%	-40.54%	-15.70%	-26.63%	110.32%	-35.36%
Accounts Receivable	319.75	414.6	440.45	348.25	470.12	376.87
Other Receivables	11.1	10.06	36.92	4.76	5.68	25.11
Receivables	330.86	424.67	477.37	353	475.8	401.98
Inventory	220.47	293.5	266.17	277.63	394.25	258.22
Prepaid Expenses	-	0.76	0.46	1	3.02	0.24
Other Current Assets	97.17	97.71	80.78	26.74	50.06	109.65
Total Current Assets	901.32	1,009	1,148	1,042	1,445	1,018
Property, Plant & Equipment	2,162	2,198	1,843	878.82	697.26	537.13
Long-Term Investments	108.04	109.27	101.18	101.18	101.18	-
Goodwill	2.75	2.75	7.11	10.61	46.84	65.02
Other Intangible Assets	243.23	260.01	266.59	135.02	138.94	130.46
Long-Term Deferred Tax Assets	28.55	27.08	14.07	16.48	8.34	7.35
Long-Term Deferred Charges	6.78	1.91	4.15	8.07	10.95	10.01
Other Long-Term Assets	9.11	8.53	8.86	4.4	37.25	4.93
Total Assets	3,462	3,616	3,393	2,196	2,486	1,773
Accounts Payable	536.86	136.16	108.59	118.54	188.93	195.24
Accrued Expenses	10.08	27.08	29.02	24.04	29.63	34.05
Short-Term Debt	189.38	319.79	446.85	423.69	551.83	296.3
Current Portion of Long-Term Debt	444.78	113.2	1.04	-	29.18	-
Current Portion of Leases	-	0.48	21.25	2.45	1.79	-
Current Income Taxes Payable	5.16	3.83	8.37	9.47	0.06	4.55
Current Unearned Revenue	2.26	2.66	2.79	2.19	2.38	3.56
Other Current Liabilities	4.14	442.51	231.01	47.84	54.57	59.85
Total Current Liabilities	1,193	1,046	848.91	628.21	858.38	593.54
Long-Term Debt	930.29	1,348	979.91	399.71	381.98	44.5
Long-Term Leases	1.88	3.29	316.67	9.96	9.72	-
Long-Term Unearned Revenue	16.01	19.92	20.09	20.69	19.06	7.23
Long-Term Deferred Tax Liabilities	26.94	26.97	27.03	-	4.36	1.45
Other Long-Term Liabilities	-	-	-	15.92	-	16.43
Total Liabilities	2,168	2,444	2,193	1,074	1,274	663.15
Common Stock	177.39	169.01	169.01	169	169	169
Additional Paid-In Capital	612.53	493.63	493.61	505.18	505.15	505.15
Retained Earnings	502.36	482.28	498.91	415.05	475.65	408.92
Comprehensive Income & Other	-20.96	5.84	13.57	6.45	17.92	-9.44
Total Common Equity	1,271	1,151	1,175	1,096	1,168	1,074
Minority Interest	22.9	21.98	25.22	26	44.94	36.55
Shareholders' Equity	1,294	1,173	1,200	1,122	1,213	1,110
Total Liabilities & Equity	3,462	3,616	3,393	2,196	2,486	1,773
Total Debt	1,566	1,784	1,766	835.81	974.5	340.79
Net Cash (Debt)	-1,313	-1,592	-1,443	-452.59	-452.23	-92.47
Net Cash Per Share	-7.39	-10.05	-8.60	-2.69	-2.65	-0.55
Filing Date Shares Outstanding	177.39	169.01	169.01	169	169	169
Total Common Shares Outstanding	177.39	169.01	169.01	169	169	169
Working Capital	-291.32	-36.97	298.93	413.38	587.02	424.88
Book Value Per Share	7.17	6.81	6.95	6.48	6.91	6.35
Tangible Book Value	1,025	888	901.4	950.05	981.93	878.15
Tangible Book Value Per Share	5.78	5.25	5.33	5.62	5.81	5.20
Buildings	-	673.79	656.93	332.53	237.72	224.78
Machinery	-	1,706	1,402	646.01	561.79	442.13
Construction In Progress	-	340.11	189.9	208.64	149.22	74.14

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.