SWS Hemodialysis Care 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	506.39	572.88	631.44	772.48	1,442	171.55
Short-Term Investments	-	-	-	-	-	0.01
Trading Asset Securities	945.22	941.03	763.88	622.95	30.46	-
Cash & Short-Term Investments	1,452	1,514	1,395	1,395	1,472	171.56
Cash Growth	5.78%	8.50%	-0.01%	-5.23%	758.25%	-29.86%
Accounts Receivable	118.33	114.58	108.9	105.77	121.55	128.25
Other Receivables	9.1	6.02	6.43	12.5	16.68	9.65
Receivables	127.43	120.6	115.33	118.27	138.23	137.9
Inventory	192.26	184.73	152.97	148.16	133.69	61.8
Other Current Assets	27.64	28.92	14.43	8.52	12.24	9.08
Total Current Assets	1,799	1,848	1,678	1,670	1,757	380.34
Property, Plant & Equipment	404.36	337.47	179.99	123.6	127.97	137.57
Other Intangible Assets	110.36	111.37	113.77	122.91	22.6	13.57
Long-Term Deferred Tax Assets	14.55	16.84	16.14	14.41	9.11	4.85
Long-Term Deferred Charges	10.79	8.71	2.09	2.99	9.09	18.71
Other Long-Term Assets	42.22	24.14	21.51	1.48	0.4	0.89
Total Assets	2,381	2,347	2,012	1,936	1,926	555.92
Accounts Payable	231.81	217.82	71.89	34.78	83.22	20.6
Accrued Expenses	43.42	72.19	53.37	30.23	30.27	15.59
Current Portion of Long-Term Debt	0.91	1.35	-	-	10.02	8.03
Current Portion of Leases	-	-	1.49	2.98	3.14	3.08
Current Income Taxes Payable	10.95	15.33	1.46	4.6	8.67	4.03
Current Unearned Revenue	116.37	117.94	53.82	54.68	158.25	5.86
Other Current Liabilities	33.5	32.63	49.94	9.58	22.74	8.9
Total Current Liabilities	436.95	457.27	231.97	136.84	316.3	66.09
Long-Term Debt	-	-	-	-	2.8	12.8
Long-Term Leases	0.77	0.73	1.04	3.81	5.84	7.61
Long-Term Unearned Revenue	64.92	67.51	67.58	61.17	57.47	61.79
Long-Term Deferred Tax Liabilities	4.97	4.75	3.25	3.5	2.37	-
Other Long-Term Liabilities	39.22	37.48	29.42	34.94	25.49	18.2
Total Liabilities	546.83	567.74	333.26	240.26	410.27	166.49
Common Stock	319.6	319.6	321.32	215.65	144.73	108.54
Additional Paid-In Capital	1,142	1,141	1,176	1,285	1,340	307.05
Retained Earnings	392.47	338	224.08	196.32	30.77	-28.91
Treasury Stock	-19.9	-19.9	-34.02	-	-	-
Total Common Equity	1,834	1,779	1,687	1,697	1,515	386.68
Minority Interest	-	-	-8.76	-1.88	0.41	2.75
Shareholders' Equity	1,834	1,779	1,678	1,696	1,515	389.43
Total Liabilities & Equity	2,381	2,347	2,012	1,936	1,926	555.92
Total Debt	1.68	2.08	2.53	6.79	21.81	31.52
Net Cash (Debt)	1,450	1,512	1,393	1,389	1,451	140.04
Net Cash Growth	5.91%	8.55%	0.30%	-4.27%	935.84%	-3.88%
Net Cash Per Share	4.56	4.76	4.36	4.32	4.52	0.58
Filing Date Shares Outstanding	319.51	307.7	318.5	319.6	321.32	240.97
Total Common Shares Outstanding	319.51	307.7	318.5	319.6	321.32	240.97
Working Capital	1,362	1,391	1,446	1,534	1,440	314.26
Book Value Per Share	5.74	5.78	5.30	5.31	4.72	1.60
Tangible Book Value	1,724	1,668	1,573	1,574	1,492	373.12
Tangible Book Value Per Share	5.40	5.42	4.94	4.93	4.64	1.55
Buildings	-	-	80.27	79.63	79.63	74.71
Machinery	-	-	123.04	114.97	109.46	106.63
Construction In Progress	-	-	68	4.33	3.78	7.89

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