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	1,876	1,278	959.08	1,896	1,233
Cash & Short-Term Investments	1,876	1,278	959.08	1,896	1,233
Cash Growth	46.76%	33.29%	-49.41%	53.78%	-4.45%
Accounts Receivable	2,884	3,089	2,613	2,239	2,001
Other Receivables	3.37	2.44	1.13	1.47	1.17
Receivables	2,888	3,091	2,614	2,240	2,002
Inventory	2,086	1,483	1,263	1,219	1,405
Other Current Assets	994.09	1,236	946.48	679	1,231
Total Current Assets	7,843	7,089	5,783	6,034	5,871
Property, Plant & Equipment	1,513	1,254	972.61	643.55	447.68
Long-Term Investments	22.5	7.5	1	-	-
Goodwill	8.84	8.84	8.84	-	-
Other Intangible Assets	238.49	240.68	137.65	141.16	130.74
Long-Term Deferred Tax Assets	50.51	38.25	30.46	25.18	21.21
Long-Term Deferred Charges	-	-	0.35	-	-
Other Long-Term Assets	14.1	66.87	13.14	50.98	27.32
Total Assets	9,691	8,705	6,947	6,895	6,498
Accounts Payable	2,534	2,561	1,749	2,060	2,775
Accrued Expenses	17.99	45.09	38.67	40.66	13.2
Short-Term Debt	1,781	1,222	427.37	483.62	206.39
Current Portion of Long-Term Debt	37.13	-	-	-	-
Current Portion of Leases	-	0.6	1.34	0.17	0.86
Current Income Taxes Payable	70.97	43.3	42.68	35.68	55.4
Current Unearned Revenue	266.59	229.16	259.6	164.64	153.14
Other Current Liabilities	77.1	53.39	43.39	25.39	21.48
Total Current Liabilities	4,785	4,155	2,562	2,810	3,226
Long-Term Debt	228.03	51.42	9.91	9.91	-
Long-Term Leases	6.24	16.2	17.75	17.54	16.6
Long-Term Unearned Revenue	12.76	2.01	3.28	4.55	5.82
Long-Term Deferred Tax Liabilities	1.62	4.07	3.46	3.45	3.67
Total Liabilities	5,034	4,228	2,596	2,846	3,252
Common Stock	492.83	492.83	492.83	492.83	435
Additional Paid-In Capital	1,984	1,985	1,985	1,980	1,393
Retained Earnings	2,041	1,838	1,733	1,464	1,315
Treasury Stock	-40.99	-	-	-	-
Comprehensive Income & Other	0.47	-	-	-	-
Total Common Equity	4,478	4,315	4,210	3,936	3,144
Minority Interest	180.05	161.44	140.02	113.26	102.4
Shareholders' Equity	4,658	4,477	4,350	4,050	3,246
Total Liabilities & Equity	9,691	8,705	6,947	6,895	6,498
Total Debt	2,053	1,290	456.37	511.24	223.86
Net Cash (Debt)	-176.53	-11.74	502.72	1,385	1,009
Net Cash Growth	-	-	-63.69%	37.23%	-17.32%
Net Cash Per Share	-0.36	-0.02	1.02	3.18	2.32
Filing Date Shares Outstanding	485.94	491.84	492.83	492.83	435
Total Common Shares Outstanding	485.94	492.83	492.83	492.83	435
Working Capital	3,058	2,934	3,221	3,224	2,645
Book Value Per Share	9.21	8.76	8.54	7.99	7.23
Tangible Book Value	4,230	4,066	4,064	3,795	3,013
Tangible Book Value Per Share	8.71	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.