SHA:603978 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	539.45	349.02	260.85	349.25	365.77	164.88
Trading Asset Securities	-	-	-	0.1	-	-
Cash & Short-Term Investments	539.45	349.02	260.85	349.35	365.77	164.88
Cash Growth	107.40%	33.80%	-25.33%	-4.49%	121.84%	-72.66%
Accounts Receivable	1,550	1,516	1,247	979.76	964.33	1,007
Other Receivables	34.11	5.7	13.8	19.54	18.12	18.41
Receivables	1,584	1,522	1,261	999.3	982.44	1,026
Inventory	499.3	433.11	390.43	218.95	230.53	178.59
Other Current Assets	140.77	189.5	139.37	73.82	25.13	60.36
Total Current Assets	2,763	2,494	2,052	1,641	1,604	1,429
Property, Plant & Equipment	1,710	1,702	1,714	1,727	1,341	1,086
Long-Term Investments	24.41	25.79	32.77	42.37	43.94	37.08
Other Intangible Assets	85.27	85.85	90.1	124.4	111.12	105.23
Long-Term Deferred Tax Assets	7.34	9.17	6.18	15.03	21.72	11.84
Long-Term Deferred Charges	0.1	0.15	0.77	2.15	4.51	7.64
Other Long-Term Assets	18.31	15.12	2.92	29	62.58	49.76
Total Assets	4,608	4,332	3,899	3,581	3,189	2,727
Accounts Payable	509.16	380.91	238.38	237.74	221.45	113.84
Accrued Expenses	10.84	10.66	15.26	17.56	15.64	19.89
Short-Term Debt	971.12	1,019	783.77	573.4	329.56	150.36
Current Portion of Long-Term Debt	365.66	320.13	287.69	131.07	96.01	74.77
Current Portion of Leases	-	-	0.18	-	0.13	0.51
Current Income Taxes Payable	2.6	5.52	2.01	0.01	0.42	1.14
Current Unearned Revenue	4.93	3.14	4.56	6.61	1.56	14.04
Other Current Liabilities	688.14	552.82	326.58	98.13	135.4	102.2
Total Current Liabilities	2,552	2,292	1,658	1,065	800.17	476.75
Long-Term Debt	276.92	317.12	404.23	880.07	624.93	426.97
Long-Term Leases	0.18	0.18	0.2	0.36	0.34	0.62
Long-Term Unearned Revenue	41.55	42.49	35.28	32.32	31.16	31.42
Long-Term Deferred Tax Liabilities	0.55	0.57	0.07	0.12	-	-
Other Long-Term Liabilities	78.19	42.98	70.23	5.79	0.18	1.82
Total Liabilities	2,950	2,696	2,168	1,983	1,457	937.59
Common Stock	211.09	211.09	211.09	165.96	165.95	165.94
Additional Paid-In Capital	1,201	1,200	1,194	722.43	722.35	728.17
Retained Earnings	212.88	251.43	330.75	621.93	763.36	811.44
Treasury Stock	-30	-30	-10	-35	-35	-35
Comprehensive Income & Other	63.21	3.5	4.88	118.1	115.66	118.41
Total Common Equity	1,659	1,636	1,730	1,593	1,732	1,789
Minority Interest	-	-	-0.21	4.71	-	-
Shareholders' Equity	1,659	1,636	1,730	1,598	1,732	1,789
Total Liabilities & Equity	4,608	4,332	3,899	3,581	3,189	2,727
Total Debt	1,614	1,656	1,476	1,585	1,051	653.23
Net Cash (Debt)	-1,074	-1,307	-1,215	-1,236	-685.2	-488.35
Net Cash Per Share	-5.56	-6.26	-7.09	-9.43	-4.13	-3.05
Filing Date Shares Outstanding	180.4	236.67	185.94	164.07	164.07	164.05
Total Common Shares Outstanding	180.4	236.67	185.94	164.07	164.07	164.05
Working Capital	210.96	201.43	393.47	576.9	803.7	952.59
Book Value Per Share	9.19	6.91	9.31	9.71	10.56	10.90
Tangible Book Value	1,573	1,551	1,640	1,469	1,621	1,684
Tangible Book Value Per Share	8.72	6.55	8.82	8.95	9.88	10.26
Buildings	-	-	1,096	1,021	970.2	936.13
Machinery	-	-	838.24	660.72	507.58	330.4
Construction In Progress	-	-	319.46	491.91	223.15	104.99

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