SHA:603725 Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

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	382.69	485.01	281.69	404.82	448.87	343.62
Trading Asset Securities	75.06	39.56	50.07	3.03	10	-
Cash & Short-Term Investments	457.76	524.57	331.75	407.86	458.87	343.62
Cash Growth	23.22%	58.12%	-18.66%	-11.12%	33.54%	12.33%
Accounts Receivable	597.91	625.66	627.35	616.23	547.51	789.97
Other Receivables	11.07	11.01	22.3	37.54	31.18	55.48
Receivables	608.98	636.67	649.65	653.77	578.68	845.45
Inventory	461.17	477.19	533.31	452.96	516.55	461.16
Prepaid Expenses	-	2.54	6.61	9.94	1.77	5.79
Other Current Assets	42.89	29.86	60.69	40.94	56.81	30.77
Total Current Assets	1,571	1,671	1,582	1,565	1,613	1,687
Property, Plant & Equipment	587.82	601.08	613.28	637.68	690.23	731.99
Long-Term Investments	122.63	118.7	103.77	82.96	55.91	62.86
Goodwill	174.45	174.45	174.45	163.47	163.47	252.13
Other Intangible Assets	151.93	154.96	166.61	175.32	187.2	199.41
Long-Term Deferred Tax Assets	158.78	163.15	103.5	101.79	115.8	79.3
Long-Term Deferred Charges	43.24	38.11	44.52	33.2	33.27	29.18
Other Long-Term Assets	59.71	63.72	65.38	60.93	5.57	11.35
Total Assets	2,869	2,985	2,854	2,821	2,864	3,053

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
Accounts Payable	344.83	479.4	470.63	479.41	497.21	432.22
Accrued Expenses	32.95	73.3	65.17	94.22	89.39	86.98
Short-Term Debt	478.03	463.74	575.81	485.71	666.36	715.52
Current Portion of Long-Term Debt	151.34	159.77	125.32	152.71	103.94	68.22
Current Portion of Leases	-	3.92	3.63	6.63	9.92	12.11
Current Income Taxes Payable	19.71	12.9	6.4	0.97	5.89	6.37
Current Unearned Revenue	184.91	189.22	170.99	192.28	239.39	259.46
Other Current Liabilities	203.06	198.3	209.2	222.65	208.75	201.77
Total Current Liabilities	1,415	1,581	1,627	1,635	1,821	1,783
Long-Term Debt	376.98	347.14	270.13	285.59	375.26	379.56
Long-Term Leases	12.66	12.68	14.86	16	11.17	17.82
Long-Term Unearned Revenue	14.25	15.32	11.23	11.53	13.48	16.71
Long-Term Deferred Tax Liabilities	23.91	21.64	24.73	26.43	24.79	26.72
Total Liabilities	1,843	1,977	1,948	1,974	2,246	2,223

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
Common Stock	304.86	304.86	304.86	218.35	207.77	209.44
Additional Paid-In Capital	291.36	291.36	291.36	372.96	316.74	295.82
Retained Earnings	294.58	275.21	193.76	129.52	8.58	174.05
Treasury Stock	-30.03	-30.03	-30.03	-	-9.04	-15.3
Total Common Equity	860.78	841.41	759.96	720.84	524.04	664.01
Minority Interest	165.92	166.25	145.49	125.84	94.54	165.54
Shareholders' Equity	1,027	1,008	905.44	846.68	618.58	829.55
Total Liabilities & Equity	2,869	2,985	2,854	2,821	2,864	3,053

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
Total Debt	1,019	987.26	989.74	946.65	1,167	1,193
Net Cash (Debt)	-561.25	-462.68	-657.99	-538.79	-707.78	-849.61
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-1.83	-1.53	-2.15	-1.83	-2.41	-2.92
Filing Date Shares Outstanding	301.21	301.21	301.21	305.69	287.49	287.49
Total Common Shares Outstanding	301.21	301.21	301.21	305.69	287.49	287.49
Working Capital	155.96	90.28	-45.13	-69.13	-208.17	-95.86
Book Value Per Share	2.86	2.79	2.52	2.36	1.82	2.31
Tangible Book Value	534.4	511.99	418.9	382.05	173.37	212.48
Tangible Book Value Per Share	1.77	1.70	1.39	1.25	0.60	0.74
Buildings	-	428.63	430.97	428.92	428.89	428.69
Machinery	-	847.49	821.17	805	767.54	721.87
Construction In Progress	-	14.46	2.77	2.37	24.65	29.57