SHA:603825 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	215.44	374.71	343.79	298.87	370.23	985.88
Trading Asset Securities	2.52	4.24	6.09	41.85	32.21	1.31
Cash & Short-Term Investments	217.96	378.95	349.88	340.71	402.44	987.19
Cash Growth	-63.06%	8.31%	2.69%	-15.34%	-59.23%	127.03%
Accounts Receivable	843.85	792.11	1,027	1,890	4,075	5,940
Other Receivables	120.42	127.09	144.48	141.57	404.58	330.46
Receivables	964.27	919.2	1,171	2,032	4,480	6,270
Inventory	145.05	111.08	71.76	71.47	109.09	217.76
Prepaid Expenses	-	-	-	0.01	1.3	0.35
Other Current Assets	218.48	226.47	92.15	38.74	588.13	744.48
Total Current Assets	1,546	1,636	1,685	2,483	5,581	8,220
Property, Plant & Equipment	63.54	67.59	78.81	123.47	229.71	309.44
Long-Term Investments	149.19	149.17	147.24	170.25	269.61	340.22
Goodwill	18.07	18.07	-	25.77	37.25	112.25
Other Intangible Assets	32.95	34.82	33.26	39.25	46.16	40.07
Long-Term Deferred Tax Assets	203.17	206.24	157.82	159.44	118.71	63.74
Long-Term Deferred Charges	63.9	67.11	79.5	94.69	25.01	31.38
Total Assets	2,077	2,179	2,182	3,096	6,307	9,117
Accounts Payable	257.42	343.7	704.43	1,525	2,984	4,135
Accrued Expenses	33.98	51.56	49.73	56.82	96.89	154.67
Short-Term Debt	1,254	1,459	1,027	451.37	1,296	1,950
Current Portion of Long-Term Debt	-	36.16	33.65	44.71	24.11	33.69
Current Portion of Leases	-	-	26.36	27.97	62.12	70.16
Current Income Taxes Payable	30.82	15.56	0.05	1.44	1.89	47.74
Current Unearned Revenue	52.16	52.87	10.1	10.46	39.81	88.53
Other Current Liabilities	156.25	167.82	5.28	6.5	78.18	84.64
Total Current Liabilities	1,784	2,127	1,857	2,124	4,583	6,565
Long-Term Debt	496.2	246.2	67	89.79	-	24.11
Long-Term Leases	36.67	23.95	46.88	81.75	148.65	212.09
Long-Term Unearned Revenue	3.94	4.13	-	-	-	-
Long-Term Deferred Tax Liabilities	8.09	8.18	9.76	13.65	27.07	-
Total Liabilities	2,329	2,409	1,981	2,309	4,759	6,801
Common Stock	253.34	253.34	253.34	253.34	253.34	253.34
Additional Paid-In Capital	1,374	1,374	1,095	1,095	940.33	939.87
Retained Earnings	-1,513	-1,489	-835.72	-289.16	449.17	1,166
Comprehensive Income & Other	-83.93	-82.74	-86	-87.59	-81.24	-40.13
Total Common Equity	31.15	56.16	427.06	971.61	1,562	2,319
Minority Interest	-283.91	-286.81	-226.1	-185.27	-13.51	-3.6
Shareholders' Equity	-252.77	-230.65	200.96	786.34	1,548	2,316
Total Liabilities & Equity	2,077	2,179	2,182	3,096	6,307	9,117
Total Debt	1,787	1,766	1,201	695.58	1,531	2,290
Net Cash (Debt)	-1,569	-1,387	-851.42	-354.87	-1,129	-1,303
Net Cash Per Share	-6.13	-5.48	-3.36	-1.40	-4.45	-5.58
Filing Date Shares Outstanding	264.79	249.03	253.34	253.34	253.34	253.34
Total Common Shares Outstanding	264.79	249.03	253.34	253.34	253.34	253.34
Working Capital	-238.69	-491.2	-172.03	358.64	997.37	1,655
Book Value Per Share	0.12	0.23	1.69	3.84	6.16	9.16
Tangible Book Value	-19.87	3.27	393.8	906.58	1,478	2,167
Tangible Book Value Per Share	-0.08	0.01	1.55	3.58	5.83	8.55
Buildings	-	-	14.22	14.22	14.22	14.22
Machinery	-	-	32.07	39.77	58.02	53.99

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