SHA:603985 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	751.81	574.57	376.1	748.82	1,195	791.4
Trading Asset Securities	-	-	0.65	-	-	1,045
Cash & Short-Term Investments	751.81	574.57	376.75	748.82	1,195	1,836
Cash Growth	87.02%	52.51%	-49.69%	-37.32%	-34.95%	523.03%
Accounts Receivable	836.31	914.04	802.98	768.6	645.07	493.67
Other Receivables	4.6	4.31	5.72	190.26	5.42	4.42
Receivables	840.91	918.35	808.7	958.86	650.49	498.09
Inventory	1,055	934.45	606.54	536.93	619.17	404.7
Prepaid Expenses	-	3.38	0.63	-	-	-
Other Current Assets	235.18	150.8	122.49	71.33	82.93	39.69
Total Current Assets	2,883	2,582	1,915	2,316	2,547	2,779
Property, Plant & Equipment	2,615	2,702	2,279	2,164	1,310	632.57
Long-Term Investments	88.62	90.78	104.3	113.78	147.74	128.07
Goodwill	0	0	0	0	-	-
Other Intangible Assets	126.47	127.43	112.02	109.37	106.97	77.84
Long-Term Accounts Receivable	-	74.93	44.56	-	-	-
Long-Term Deferred Tax Assets	67.31	66.63	67.6	44.5	16.34	13.81
Long-Term Deferred Charges	1.4	2.8	1.91	-	-	1.55
Other Long-Term Assets	142	64.15	72.96	199.58	186.33	259.9
Total Assets	5,924	5,710	4,597	4,948	4,314	3,893
Accounts Payable	550.59	556.98	399.71	536.3	731.62	446.92
Accrued Expenses	21.35	43.27	38.54	45.59	40.62	38.24
Short-Term Debt	1,191	1,059	775.17	871.04	80.32	-
Current Portion of Long-Term Debt	289.7	0.82	-	-	-	-
Current Portion of Leases	-	1.72	1.31	1.24	1.1	-
Current Income Taxes Payable	3.83	0.32	2.46	6.89	24.66	32.81
Current Unearned Revenue	24.92	13.24	7.07	4.89	7.01	15.08
Other Current Liabilities	16.89	344.12	43.7	77	0.83	2.06
Total Current Liabilities	2,098	2,019	1,268	1,543	886.15	535.12
Long-Term Debt	48.8	19.2	-	-	-	-
Long-Term Leases	0.72	1.13	2.45	2.2	0.57	-
Long-Term Unearned Revenue	49.25	50.4	52	48.85	26.86	17.8
Long-Term Deferred Tax Liabilities	31.2	6.02	-	2.87	2.43	2.47
Other Long-Term Liabilities	342.15	336.59	62.71	1.17	0.56	-
Total Liabilities	2,570	2,433	1,385	1,598	916.56	555.38
Common Stock	440.86	440.86	440.86	440.86	440.86	339.12
Additional Paid-In Capital	1,688	1,684	1,698	1,698	1,697	1,799
Retained Earnings	1,217	1,152	1,068	1,207	1,259	1,198
Treasury Stock	-4.26	-4.26	-	-	-	-
Comprehensive Income & Other	-0.64	-1.27	0.23	-0.42	0.37	0.74
Total Common Equity	3,341	3,271	3,208	3,345	3,398	3,337
Minority Interest	13.33	6.58	4.21	4.11	-	-
Shareholders' Equity	3,354	3,278	3,212	3,350	3,398	3,337
Total Liabilities & Equity	5,924	5,710	4,597	4,948	4,314	3,893
Total Debt	1,530	1,082	778.94	874.49	81.99	-
Net Cash (Debt)	-777.98	-507.22	-402.19	-125.67	1,113	1,836
Net Cash Growth	-	-	-	-	-39.41%	-
Net Cash Per Share	-1.78	-1.16	-0.91	-0.29	2.52	4.77
Filing Date Shares Outstanding	437.18	440.54	440.86	440.86	440.86	440.86
Total Common Shares Outstanding	437.18	440.54	440.86	440.86	440.86	440.86
Working Capital	785.01	562.15	647.16	772.98	1,661	2,244
Book Value Per Share	7.64	7.42	7.28	7.59	7.71	7.57
Tangible Book Value	3,214	3,144	3,096	3,236	3,291	3,259
Tangible Book Value Per Share	7.35	7.14	7.02	7.34	7.46	7.39
Buildings	-	599.05	591.86	557.56	358.91	210.7
Machinery	-	2,687	2,011	1,515	810.36	572.6
Construction In Progress	-	249.62	285.48	541	499.59	168.25

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