SHA:603938 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	182.77	211.23	158.07	106.52	310.4	213.45
Trading Asset Securities	440	410	380	719	310	52
Cash & Short-Term Investments	622.77	621.23	538.07	825.52	620.4	265.45
Cash Growth	15.74%	15.46%	-34.82%	33.06%	133.72%	-24.78%
Accounts Receivable	670.97	574.62	401.31	463.01	772.18	528.83
Other Receivables	2.33	2.31	2.67	3.92	2.92	3.38
Receivables	673.3	576.93	403.98	466.93	775.11	532.21
Inventory	224.1	169.3	180.56	157.5	265.65	144.93
Other Current Assets	55.32	28.87	31.28	63.17	63.91	75.12
Total Current Assets	1,575	1,396	1,154	1,513	1,725	1,018
Property, Plant & Equipment	1,679	1,652	1,739	1,494	1,350	1,111
Long-Term Investments	-	-	-	-	4.9	-
Other Intangible Assets	128.87	130.07	129.66	133.24	133.85	137.3
Long-Term Deferred Tax Assets	72.11	70.17	60.88	59.38	31.59	14.77
Long-Term Deferred Charges	1.83	2.13	0.7	0.93	0.43	1.24
Other Long-Term Assets	31.49	23.06	21.73	95.13	89.91	39.11
Total Assets	3,489	3,273	3,105	3,296	3,336	2,321
Accounts Payable	591.46	424.63	399.8	225.21	219.35	134.83
Accrued Expenses	0.77	26.42	20.52	26.96	47.3	29.9
Short-Term Debt	60.57	63.22	9.82	96.66	94.52	27.34
Current Portion of Long-Term Debt	-	-	-	48	32	20
Current Portion of Leases	-	-	-	-	-	0.53
Current Income Taxes Payable	15.14	5.68	2.72	8.21	28.01	14.75
Current Unearned Revenue	56.51	44.54	37.11	26.74	81.04	44.18
Other Current Liabilities	177.28	159.4	160.54	134.28	164.83	264
Total Current Liabilities	901.73	723.88	630.51	566.05	667.05	535.52
Long-Term Debt	-	-	-	270.82	318.47	148.5
Long-Term Unearned Revenue	44.85	46.8	46.09	52.03	49.2	50.89
Long-Term Deferred Tax Liabilities	-	-	-	1.78	2.27	2.67
Total Liabilities	946.58	770.68	676.6	890.7	1,037	737.57
Common Stock	382.62	382.62	382.62	382.62	273.3	195.22
Additional Paid-In Capital	199.23	199.27	199.34	198.51	309.73	387.82
Retained Earnings	1,934	1,896	1,822	1,778	1,658	943.43
Treasury Stock	-17.01	-17.01	-16.67	-	-	-
Comprehensive Income & Other	40.97	40.29	39.52	37.47	34.57	28.14
Total Common Equity	2,540	2,501	2,427	2,397	2,275	1,555
Minority Interest	1.85	1.86	2.17	8.96	23.93	28.66
Shareholders' Equity	2,542	2,503	2,429	2,406	2,299	1,583
Total Liabilities & Equity	3,489	3,273	3,105	3,296	3,336	2,321
Total Debt	60.57	63.22	9.82	415.48	444.98	196.37
Net Cash (Debt)	562.2	558	528.25	410.04	175.42	69.08
Net Cash Growth	6.43%	5.63%	28.83%	133.75%	153.94%	-75.57%
Net Cash Per Share	1.47	1.46	1.41	1.07	0.46	0.18
Filing Date Shares Outstanding	381.22	381.22	381.22	382.62	382.62	382.62
Total Common Shares Outstanding	381.22	381.22	381.25	382.62	382.62	382.62
Working Capital	673.76	672.44	523.38	947.06	1,058	482.18
Book Value Per Share	6.66	6.56	6.36	6.26	5.95	4.06
Tangible Book Value	2,411	2,371	2,297	2,263	2,141	1,417
Tangible Book Value Per Share	6.33	6.22	6.02	5.92	5.60	3.70
Buildings	-	943.12	820.67	818.7	505.33	342.07
Machinery	-	1,486	1,181	1,103	798.62	641.29
Construction In Progress	-	35.07	393.42	92.13	574.46	601.31

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