SHA:688260 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	48.65	26.64	48.5	24.07	28.41	40.11
Trading Asset Securities	-	-	-	-	-	31.58
Cash & Short-Term Investments	48.65	26.64	48.5	24.07	28.41	71.69
Cash Growth	24.35%	-45.08%	101.47%	-15.26%	-60.37%	212.25%
Accounts Receivable	185.14	190.88	228.6	288.87	268.18	233.31
Other Receivables	5.14	6.06	2.61	5.38	13.1	30.84
Receivables	190.28	196.94	231.21	294.25	281.28	264.15
Inventory	134.74	118.91	86.61	93.42	106.47	87.04
Prepaid Expenses	-	-	0.36	-	-	1.31
Other Current Assets	26.99	16.19	15.52	71.87	40.85	31.14
Total Current Assets	400.67	358.68	382.2	483.62	457.02	455.32
Property, Plant & Equipment	1,032	984.8	966	935.86	664.02	379.51
Long-Term Investments	20.78	21.83	22.96	-	-	-
Other Intangible Assets	26.32	26.66	27.97	26.2	18.22	19.01
Long-Term Deferred Tax Assets	112.45	103.13	56.01	37.55	34.5	2.27
Long-Term Deferred Charges	28.19	24.35	38.31	45.67	43.93	31.91
Other Long-Term Assets	43.54	36.76	38.19	85.62	106.45	102.44
Total Assets	1,664	1,556	1,532	1,615	1,324	990.47
Accounts Payable	409.02	341.67	283.65	165.5	194.9	147.01
Accrued Expenses	27.83	26.56	23.25	18.07	19.21	19.7
Short-Term Debt	328.24	321.73	347.26	457.8	396.19	214.82
Current Portion of Long-Term Debt	-	78.4	68.19	14.18	13.71	-
Current Portion of Leases	-	-	17.85	40.2	58.78	35.18
Current Income Taxes Payable	-	4.54	-	0.69	0.79	1.05
Current Unearned Revenue	1.8	2.86	3.91	1.7	0.74	1
Other Current Liabilities	142.76	108.22	9.3	8.81	20.4	14.68
Total Current Liabilities	909.65	883.98	753.4	706.94	704.73	433.46
Long-Term Debt	451.08	459.93	519.72	551.34	108.57	-
Long-Term Leases	8.22	8.68	17.5	38.4	79.56	58.19
Long-Term Unearned Revenue	84.2	84.33	42.3	16.79	1.33	-
Long-Term Deferred Tax Liabilities	-	-	-	-	11.4	1.43
Other Long-Term Liabilities	-	-	-	2.31	-	-
Total Liabilities	1,453	1,437	1,333	1,316	905.59	493.09
Common Stock	120	120	120	120	120	120
Additional Paid-In Capital	521	431.03	339.45	331.72	313.85	301.95
Retained Earnings	-479.51	-426.6	-236.54	-112.59	13.55	97.74
Total Common Equity	161.5	124.43	222.91	339.13	447.4	519.69
Minority Interest	49	-5.14	-24.19	-40.38	-28.85	-22.31
Shareholders' Equity	210.5	119.29	198.72	298.75	418.55	497.38
Total Liabilities & Equity	1,664	1,556	1,532	1,615	1,324	990.47
Total Debt	787.54	868.74	970.51	1,102	656.82	308.2
Net Cash (Debt)	-738.89	-842.1	-922.01	-1,078	-628.41	-236.51
Net Cash Per Share	-6.16	-7.00	-7.68	-8.98	-5.26	-2.15
Filing Date Shares Outstanding	119.99	120	120	120	120	120
Total Common Shares Outstanding	119.99	120	120	120	120	120
Working Capital	-508.99	-525.3	-371.2	-223.32	-247.72	21.86
Book Value Per Share	1.35	1.04	1.86	2.83	3.73	4.33
Tangible Book Value	135.18	97.77	194.94	312.93	429.17	500.68
Tangible Book Value Per Share	1.13	0.81	1.62	2.61	3.58	4.17
Buildings	-	-	301.34	179.59	-	-
Machinery	-	-	1,030	838.9	483.32	396.72
Construction In Progress	-	-	56.81	212.61	387.51	83.71

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