SHA:688652 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	579.61	525.09	1,251	303.54	262.61
Trading Asset Securities	942.93	848.91	300.07	-	-
Cash & Short-Term Investments	1,523	1,374	1,551	303.54	262.61
Cash Growth	10.81%	-11.39%	410.83%	15.58%	241.81%
Accounts Receivable	282.77	381.12	221.28	213.59	191.32
Other Receivables	8.13	5.57	10.89	4.07	18.55
Receivables	290.9	386.68	232.17	217.67	209.87
Inventory	2,395	1,988	957.35	699.14	364.37
Prepaid Expenses	9.45	7.12	-	-	-
Other Current Assets	59.93	67.15	39.23	26.27	13.13
Total Current Assets	4,278	3,823	2,779	1,247	849.99
Property, Plant & Equipment	368.56	114.55	30.87	29.24	22.68
Long-Term Investments	5.5	9.2	9.2	9.2	5.5
Other Intangible Assets	33.89	35.15	3.4	4.72	5.15
Long-Term Accounts Receivable	0.35	0.01	0.47	0.02	-
Long-Term Deferred Tax Assets	51.68	43.82	31.23	27.79	14.06
Long-Term Deferred Charges	21.01	18.86	6.25	4.11	6.44
Other Long-Term Assets	25.57	-	-	-	0.02
Total Assets	4,784	4,045	2,861	1,322	903.84
Accounts Payable	861.8	1,030	358.68	188.63	197.62
Accrued Expenses	78.82	65.51	49.18	42.43	15.67
Short-Term Debt	50	-	10.43	120	74.59
Current Portion of Leases	12.41	9.38	7.57	8.69	-
Current Income Taxes Payable	3.82	4.65	2.76	2.34	5.67
Current Unearned Revenue	1,351	738.83	408.66	319.94	84.2
Other Current Liabilities	150.61	19.63	8.95	8.44	19.96
Total Current Liabilities	2,508	1,868	846.22	690.47	397.7
Long-Term Leases	20.19	6.77	5.27	7.6	7.09
Long-Term Unearned Revenue	-	6.13	16.88	25.22	-
Long-Term Deferred Tax Liabilities	8.2	4.27	2.58	2.81	0.08
Other Long-Term Liabilities	45.89	85	56.13	47.25	41.98
Total Liabilities	2,583	1,970	927.08	773.35	446.85
Common Stock	168	168	168	126	126
Additional Paid-In Capital	1,506	1,506	1,506	281.96	281.96
Retained Earnings	526.46	399.14	258.83	139.69	48.57
Comprehensive Income & Other	0.83	0.92	0.65	0.7	0.47
Shareholders' Equity	2,202	2,074	1,934	548.35	456.99
Total Liabilities & Equity	4,784	4,045	2,861	1,322	903.84
Total Debt	82.6	16.15	23.27	136.29	81.68
Net Cash (Debt)	1,440	1,358	1,527	167.25	180.93
Net Cash Growth	6.04%	-11.10%	813.20%	-7.56%	392.04%
Net Cash Per Share	8.57	8.08	11.79	1.32	1.51
Filing Date Shares Outstanding	168	168	168	126	126
Total Common Shares Outstanding	168	168	168	126	126
Working Capital	1,769	1,955	1,933	556.14	452.29
Book Value Per Share	13.10	12.35	11.51	4.35	3.63
Tangible Book Value	2,168	2,039	1,930	543.63	451.84
Tangible Book Value Per Share	12.90	12.14	11.49	4.31	3.59
Machinery	65.44	47.94	24.63	17.05	11.93
Construction In Progress	286.74	59.92	0.18	-	-

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