Freewon China Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	390.95	382.49	498.46	160.49	308.88	703.75
Trading Asset Securities	161.29	102.73	443.83	81.69	164.89	-
Cash & Short-Term Investments	552.24	485.22	942.3	242.18	473.77	703.75
Cash Growth	-7.88%	-48.51%	289.08%	-48.88%	-32.68%	595.41%
Accounts Receivable	817.38	597.63	513.31	441.37	350.54	272.71
Other Receivables	1.97	2.32	3.01	3.69	1.78	3.09
Receivables	819.35	599.95	516.32	445.06	352.32	275.81
Inventory	461.44	409.51	251.89	225.99	194.93	117.8
Other Current Assets	94.62	74.47	22.41	13.19	5.25	10.52
Total Current Assets	1,928	1,569	1,733	926.43	1,026	1,108
Property, Plant & Equipment	1,791	1,639	1,358	1,178	702.55	533.4
Goodwill	21.62	21.62	27.71	27.71	27.71	27.71
Other Intangible Assets	80.12	65.2	53.26	55.74	22.87	24.52
Long-Term Deferred Tax Assets	162.83	94.39	66.4	70.82	12.73	6.32
Long-Term Deferred Charges	176.65	154.82	80.31	30.52	11.91	6.16
Other Long-Term Assets	11.65	30.15	15.67	9.3	32.24	12.15
Total Assets	4,171	3,574	3,334	2,299	1,836	1,718
Accounts Payable	737.49	541.6	489.02	454.59	276.81	262.07
Accrued Expenses	67.47	33.67	23.49	21.12	17.7	14.66
Short-Term Debt	486.21	330.04	263.1	165.73	65.92	45.18
Current Portion of Long-Term Debt	57.82	86.49	43.45	5.05	-	-
Current Portion of Leases	-	1.69	-	1.04	-	-
Current Income Taxes Payable	3.9	0.53	2.02	-	-	-
Current Unearned Revenue	0.26	1.81	0.33	0.15	0.09	0.08
Other Current Liabilities	232.71	42.15	20.11	36.19	21.42	23.76
Total Current Liabilities	1,586	1,038	841.53	683.88	381.94	345.74
Long-Term Debt	476.94	796.4	772.1	46.26	-	10
Long-Term Leases	-	1.34	-	0.53	-	-
Long-Term Unearned Revenue	14.53	14.95	9	0.21	0.99	0.4
Long-Term Deferred Tax Liabilities	155.22	114.69	93.66	97.43	52.51	34.35
Total Liabilities	2,233	1,965	1,716	828.31	435.45	390.48
Common Stock	260.2	243.16	174.26	173.35	173.35	173.35
Additional Paid-In Capital	1,103	814.28	885.02	889.54	879.86	878.3
Retained Earnings	493.08	485.12	482.27	445.18	334.64	264.5
Treasury Stock	-	-37.48	-37.48	-37.48	-	-
Comprehensive Income & Other	26.29	44.42	44.42	-	-	-
Total Common Equity	1,882	1,550	1,548	1,471	1,388	1,316
Minority Interest	56.14	59.19	69.5	-	13.01	11.52
Shareholders' Equity	1,939	1,609	1,618	1,471	1,401	1,328
Total Liabilities & Equity	4,171	3,574	3,334	2,299	1,836	1,718
Total Debt	1,021	1,216	1,079	218.62	65.92	55.18
Net Cash (Debt)	-468.73	-730.74	-136.36	23.57	407.85	648.57
Net Cash Growth	-	-	-	-94.22%	-37.12%	-
Net Cash Per Share	-1.80	-3.03	-0.56	0.10	1.67	3.57
Filing Date Shares Outstanding	260.2	241.16	241.16	239.89	242.69	242.69
Total Common Shares Outstanding	260.2	241.16	241.16	239.89	242.69	242.69
Working Capital	341.81	531.16	891.38	242.55	644.33	762.15
Book Value Per Share	7.23	6.43	6.42	6.13	5.72	5.42
Tangible Book Value	1,781	1,463	1,468	1,387	1,337	1,264
Tangible Book Value Per Share	6.84	6.07	6.09	5.78	5.51	5.21
Buildings	-	583.4	375.37	276.12	270.91	120.43
Machinery	-	1,301	1,054	988.87	554.86	437.69
Construction In Progress	-	228.96	285.49	178.29	78.74	143.88

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