SHA:603985 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	Jun '26 Jun 30, 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	600.35	574.57	376.1	748.82	1,195	791.4
Trading Asset Securities	-	-	0.65	-	-	1,045
Cash & Short-Term Investments	600.35	574.57	376.75	748.82	1,195	1,836
Cash Growth	16.47%	52.51%	-49.69%	-37.32%	-34.95%	523.03%
Accounts Receivable	736.39	914.04	802.98	768.6	645.07	493.67
Other Receivables	3.8	4.31	5.72	190.26	5.42	4.42
Receivables	740.19	918.35	808.7	958.86	650.49	498.09
Inventory	1,382	934.45	606.54	536.93	619.17	404.7
Prepaid Expenses	6.3	3.38	0.63	-	-	-
Other Current Assets	373.78	150.8	122.49	71.33	82.93	39.69
Total Current Assets	3,103	2,582	1,915	2,316	2,547	2,779
Property, Plant & Equipment	2,533	2,702	2,279	2,164	1,310	632.57
Long-Term Investments	85.82	90.78	104.3	113.78	147.74	128.07
Goodwill	0	0	0	0	-	-
Other Intangible Assets	125.37	127.43	112.02	109.37	106.97	77.84
Long-Term Accounts Receivable	86.01	74.93	44.56	-	-	-
Long-Term Deferred Tax Assets	69.38	66.63	67.6	44.5	16.34	13.81
Long-Term Deferred Charges	2.19	2.8	1.91	-	-	1.55
Other Long-Term Assets	68.32	64.15	72.96	199.58	186.33	259.9
Total Assets	6,072	5,710	4,597	4,948	4,314	3,893

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	461.02	556.98	399.71	536.3	731.62	446.92
Accrued Expenses	38.62	43.27	38.54	45.59	40.62	38.24
Short-Term Debt	1,327	1,059	775.17	871.04	80.32	-
Current Portion of Long-Term Debt	2.04	0.82	-	-	-	-
Current Portion of Leases	2.72	1.72	1.31	1.24	1.1	-
Current Income Taxes Payable	-	0.32	2.46	6.89	24.66	32.81
Current Unearned Revenue	149.58	13.24	7.07	4.89	7.01	15.08
Other Current Liabilities	328.14	344.12	43.7	77	0.83	2.06
Total Current Liabilities	2,309	2,019	1,268	1,543	886.15	535.12
Long-Term Debt	47	19.2	-	-	-	-
Long-Term Leases	292.98	1.13	2.45	2.2	0.57	-
Long-Term Unearned Revenue	52.56	50.4	52	48.85	26.86	17.8
Long-Term Deferred Tax Liabilities	35.2	6.02	-	2.87	2.43	2.47
Other Long-Term Liabilities	-	336.59	62.71	1.17	0.56	-
Total Liabilities	2,737	2,433	1,385	1,598	916.56	555.38

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	440.86	440.86	440.86	440.86	440.86	339.12
Additional Paid-In Capital	1,691	1,684	1,698	1,698	1,697	1,799
Retained Earnings	1,194	1,152	1,068	1,207	1,259	1,198
Treasury Stock	-4.26	-4.26	-	-	-	-
Comprehensive Income & Other	-0.05	-1.27	0.23	-0.42	0.37	0.74
Total Common Equity	3,321	3,271	3,208	3,345	3,398	3,337
Minority Interest	14.3	6.58	4.21	4.11	-	-
Shareholders' Equity	3,336	3,278	3,212	3,350	3,398	3,337
Total Liabilities & Equity	6,072	5,710	4,597	4,948	4,314	3,893

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	1,672	1,082	778.94	874.49	81.99	-
Net Cash (Debt)	-1,071	-507.22	-402.19	-125.67	1,113	1,836
Net Cash Growth	-	-	-	-	-39.41%	-
Net Cash Per Share	-2.44	-1.16	-0.91	-0.29	2.52	4.77
Filing Date Shares Outstanding	440.54	440.54	440.86	440.86	440.86	440.86
Total Common Shares Outstanding	440.54	440.54	440.86	440.86	440.86	440.86
Working Capital	793.66	562.15	647.16	772.98	1,661	2,244
Book Value Per Share	7.54	7.42	7.28	7.59	7.71	7.57
Tangible Book Value	3,196	3,144	3,096	3,236	3,291	3,259
Tangible Book Value Per Share	7.25	7.14	7.02	7.34	7.46	7.39
Buildings	594.05	599.05	591.86	557.56	358.91	210.7
Machinery	2,710	2,687	2,011	1,515	810.36	572.6
Construction In Progress	214.44	249.62	285.48	541	499.59	168.25