Friend Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	-	1,278	959.08	1,896	1,233
Cash & Short-Term Investments	1,184	1,278	959.08	1,896	1,233
Cash Growth	-7.41%	33.29%	-49.41%	53.78%	-4.45%
Accounts Receivable	-	3,089	2,613	2,239	2,001
Other Receivables	-	2.44	1.13	1.47	1.17
Receivables	-	3,091	2,614	2,240	2,002
Inventory	-	1,483	1,263	1,219	1,405
Other Current Assets	-	1,236	946.48	679	1,231
Total Current Assets	-	7,089	5,783	6,034	5,871
Property, Plant & Equipment	-	1,254	972.61	643.55	447.68
Long-Term Investments	-	7.5	1	-	-
Goodwill	-	8.84	8.84	-	-
Other Intangible Assets	-	240.68	137.65	141.16	130.74
Long-Term Deferred Tax Assets	-	38.25	30.46	25.18	21.21
Long-Term Deferred Charges	-	-	0.35	-	-
Other Long-Term Assets	-	66.87	13.14	50.98	27.32
Total Assets	-	8,705	6,947	6,895	6,498
Accounts Payable	-	2,561	1,749	2,060	2,775
Accrued Expenses	-	45.09	38.67	40.66	13.2
Short-Term Debt	-	1,222	427.37	483.62	206.39
Current Portion of Leases	-	0.6	1.34	0.17	0.86
Current Income Taxes Payable	-	43.3	42.68	35.68	55.4
Current Unearned Revenue	-	229.16	259.6	164.64	153.14
Other Current Liabilities	-	53.39	43.39	25.39	21.48
Total Current Liabilities	-	4,155	2,562	2,810	3,226
Long-Term Debt	-	51.42	9.91	9.91	-
Long-Term Leases	-	16.2	17.75	17.54	16.6
Long-Term Unearned Revenue	-	2.01	3.28	4.55	5.82
Long-Term Deferred Tax Liabilities	-	4.07	3.46	3.45	3.67
Total Liabilities	-	4,228	2,596	2,846	3,252
Common Stock	-	492.83	492.83	492.83	435
Additional Paid-In Capital	-	1,985	1,985	1,980	1,393
Retained Earnings	-	1,838	1,733	1,464	1,315
Total Common Equity	4,355	4,315	4,210	3,936	3,144
Minority Interest	-	161.44	140.02	113.26	102.4
Shareholders' Equity	4,545	4,477	4,350	4,050	3,246
Total Liabilities & Equity	-	8,705	6,947	6,895	6,498
Total Debt	2,115	1,290	456.37	511.24	223.86
Net Cash (Debt)	-931.07	-11.74	502.72	1,385	1,009
Net Cash Growth	-	-	-63.69%	37.23%	-17.32%
Net Cash Per Share	-1.90	-0.02	1.02	3.18	2.32
Filing Date Shares Outstanding	473.6	491.84	492.83	492.83	435
Total Common Shares Outstanding	473.6	492.83	492.83	492.83	435
Working Capital	-	2,934	3,221	3,224	2,645
Book Value Per Share	8.70	8.76	8.54	7.99	7.23
Tangible Book Value	4,105	4,066	4,064	3,795	3,013
Tangible Book Value Per Share	8.20	8.25	8.25	7.70	6.93
Buildings	-	661.3	390.76	296.59	310.86
Machinery	-	810.39	465.34	375.92	356.76
Construction In Progress	-	166.29	442.24	253.26	19.76

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