SHA:603685 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	379.47	512.88	184.8	322.15	333.22	393.21
Short-Term Investments	-	-	-	-	50	-
Trading Asset Securities	201.3	21.24	7.39	0.91	-	129.07
Cash & Short-Term Investments	580.77	534.12	192.19	323.07	383.22	522.28
Cash Growth	114.97%	177.91%	-40.51%	-15.70%	-26.63%	110.32%
Accounts Receivable	271.53	304.25	414.6	440.45	348.25	470.12
Other Receivables	47.29	11.97	47.01	36.92	4.76	5.68
Receivables	318.82	316.22	461.62	477.37	353	475.8
Inventory	238.88	220.39	293.5	266.17	277.63	394.25
Prepaid Expenses	-	0.88	0.76	0.46	1	3.02
Other Current Assets	104.03	84.3	97.72	80.78	26.74	50.06
Total Current Assets	1,243	1,156	1,046	1,148	1,042	1,445
Property, Plant & Equipment	2,177	2,219	2,198	1,843	878.82	697.26
Long-Term Investments	34.92	110.18	109.27	101.18	101.18	101.18
Goodwill	-	-	2.75	7.11	10.61	46.84
Other Intangible Assets	241.29	245.84	260.01	266.59	135.02	138.94
Long-Term Deferred Tax Assets	28.92	27.16	27.08	14.07	16.48	8.34
Long-Term Deferred Charges	6.48	6.68	1.91	4.15	8.07	10.95
Other Long-Term Assets	134.83	22.19	8.53	8.86	4.4	37.25
Total Assets	3,866	3,787	3,653	3,393	2,196	2,486
Accounts Payable	380.33	137.24	136.16	108.59	118.54	188.93
Accrued Expenses	11.79	27.06	27.35	29.02	24.04	29.63
Short-Term Debt	250.96	242.62	319.79	446.85	423.69	551.83
Current Portion of Long-Term Debt	219.64	137.03	113.2	1.04	-	29.18
Current Portion of Leases	-	2.21	0.48	21.25	2.45	1.79
Current Income Taxes Payable	6.31	5	3.83	8.37	9.47	0.06
Current Unearned Revenue	5.11	3.31	2.66	2.79	2.19	2.38
Other Current Liabilities	43.04	267.06	442.51	231.01	47.84	54.57
Total Current Liabilities	917.17	821.53	1,046	848.91	628.21	858.38
Long-Term Debt	881.92	886.95	1,348	979.91	399.71	381.98
Long-Term Leases	9.38	9.3	3.29	316.67	9.96	9.72
Long-Term Unearned Revenue	14.54	15.34	19.92	20.09	20.69	19.06
Long-Term Deferred Tax Liabilities	27.22	26.88	26.97	27.03	-	4.36
Other Long-Term Liabilities	-	-	-	-	15.92	-
Total Liabilities	1,850	1,760	2,444	2,193	1,074	1,274
Common Stock	250.95	250.95	169.01	169.01	169	169
Additional Paid-In Capital	1,309	1,309	531.34	493.61	505.18	505.15
Retained Earnings	509.9	499.93	479.24	498.91	415.05	475.65
Comprehensive Income & Other	-74.32	-53.84	5.84	13.57	6.45	17.92
Total Common Equity	1,995	2,006	1,185	1,175	1,096	1,168
Minority Interest	20.33	20.95	24.09	25.22	26	44.94
Shareholders' Equity	2,016	2,027	1,210	1,200	1,122	1,213
Total Liabilities & Equity	3,866	3,787	3,653	3,393	2,196	2,486
Total Debt	1,362	1,278	1,784	1,766	835.81	974.5
Net Cash (Debt)	-781.12	-744	-1,592	-1,443	-452.59	-452.23
Net Cash Per Share	-4.08	-4.39	-9.90	-8.60	-2.69	-2.65
Filing Date Shares Outstanding	250.95	250.95	169.01	169.01	169	169
Total Common Shares Outstanding	250.95	250.95	169.01	169.01	169	169
Working Capital	325.33	334.38	-0.2	298.93	413.38	587.02
Book Value Per Share	7.95	7.99	7.01	6.95	6.48	6.91
Tangible Book Value	1,754	1,760	922.67	901.4	950.05	981.93
Tangible Book Value Per Share	6.99	7.01	5.46	5.33	5.62	5.81
Buildings	-	615.27	673.79	656.93	332.53	237.72
Machinery	-	1,796	1,706	1,402	646.01	561.79
Construction In Progress	-	358.15	340.11	189.9	208.64	149.22

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