Hillstone Networks 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	167.14	269.86	217.88	338.77	525.24	469.61
Trading Asset Securities	-	-	60.01	30	-	110.61
Cash & Short-Term Investments	167.14	269.86	277.89	368.77	525.24	580.22
Cash Growth	-28.79%	-2.89%	-24.64%	-29.79%	-9.47%	-30.99%
Accounts Receivable	1,078	1,051	1,055	885.16	952.35	808.69
Other Receivables	5.3	5.16	11.28	6.75	13.13	5.36
Receivables	1,083	1,056	1,066	891.91	965.48	814.04
Inventory	104.79	96.83	88.06	77.13	139.22	132.87
Other Current Assets	26.33	36.05	45.72	36.19	14.43	27.78
Total Current Assets	1,382	1,459	1,478	1,374	1,644	1,555
Property, Plant & Equipment	231.19	234.45	244.59	251.87	287.31	286.05
Long-Term Investments	44.18	44.91	43.01	41.04	42.04	8.14
Other Intangible Assets	97.64	100.7	112.66	85.89	47.52	42.28
Long-Term Deferred Tax Assets	109	108.13	99.07	92.91	75.89	34.92
Long-Term Deferred Charges	12.61	13.58	5.99	4.22	4.03	6.22
Other Long-Term Assets	2.26	2.42	2.38	2.15	15.01	11.02
Total Assets	1,878	1,963	1,985	1,852	2,116	1,944
Accounts Payable	163.56	234.96	237.63	136	159.96	160.65
Accrued Expenses	48.56	99.5	104.62	77.01	61.37	106.74
Short-Term Debt	464.09	394.93	222	122.49	137.72	-
Current Portion of Long-Term Debt	9.76	3.76	2.51	1.46	0.83	-
Current Portion of Leases	-	10.54	19.22	6.45	20.48	17.75
Current Income Taxes Payable	11.67	-	-	-	0	0.01
Current Unearned Revenue	79.62	80	69.69	50.91	27.41	13.37
Other Current Liabilities	95.89	104.69	119.84	100.39	110.15	99.34
Total Current Liabilities	873.16	928.38	775.51	494.72	517.92	397.87
Long-Term Debt	281.37	279.02	269.37	258.71	247.39	-
Long-Term Leases	10.72	9.39	2.62	3.37	10.34	17.5
Long-Term Deferred Tax Liabilities	0	0	0	-	2.52	0.09
Other Long-Term Liabilities	17.13	16.87	14.9	14.98	17.22	21.62
Total Liabilities	1,182	1,234	1,062	771.77	795.39	437.09
Common Stock	180.24	180.24	180.23	180.23	180.23	180.22
Additional Paid-In Capital	1,251	1,251	1,251	1,253	1,253	1,256
Retained Earnings	-745.74	-711.25	-517.71	-380.5	-140.69	64.41
Treasury Stock	-16.3	-16.3	-16.3	-	-	-
Comprehensive Income & Other	28.74	27.73	25.33	26.41	26.21	6.69
Total Common Equity	697.91	731.39	922.5	1,079	1,318	1,507
Minority Interest	-1.82	-1.77	0.55	1.36	2.35	-0.81
Shareholders' Equity	696.1	729.63	923.05	1,080	1,321	1,506
Total Liabilities & Equity	1,878	1,963	1,985	1,852	2,116	1,944
Total Debt	765.94	697.63	515.73	392.48	416.76	35.25
Net Cash (Debt)	-598.8	-427.77	-237.83	-23.71	108.48	544.96
Net Cash Growth	-	-	-	-	-80.09%	-35.18%
Net Cash Per Share	-3.32	-2.37	-1.32	-0.13	0.60	3.02
Filing Date Shares Outstanding	180.27	178.82	178.82	180.23	180.23	180.22
Total Common Shares Outstanding	180.27	178.82	178.82	180.23	180.23	180.22
Working Capital	508.45	530.72	702.24	879.28	1,126	1,157
Book Value Per Share	3.87	4.09	5.16	5.99	7.32	8.36
Tangible Book Value	600.28	630.69	809.84	993.05	1,271	1,465
Tangible Book Value Per Share	3.33	3.53	4.53	5.51	7.05	8.13
Buildings	-	184.73	184.73	184.73	184.73	181.66
Machinery	-	202.93	210	208.16	200.6	169.24

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