Shahe Industrial 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	602.89	377.79	588.25	649.7	323.83
Cash & Short-Term Investments	602.89	377.79	588.25	649.7	323.83
Cash Growth	59.59%	-35.78%	-9.46%	100.63%	-31.09%
Accounts Receivable	3.65	4.62	3.49	1.22	0.63
Other Receivables	2.92	3.35	4.26	4.42	2.26
Receivables	6.58	7.97	7.74	5.64	2.89
Inventory	1,225	1,412	1,569	1,907	1,805
Prepaid Expenses	1.67	6.13	6.93	46.45	39.81
Other Current Assets	13.88	14.79	15.51	64.37	56.83
Total Current Assets	1,850	1,819	2,187	2,673	2,228
Property, Plant & Equipment	22.74	205.24	196.98	196.04	182.88
Long-Term Deferred Tax Assets	50.12	56.98	66.31	53.12	53.07
Long-Term Deferred Charges	1.49	1.55	2.53	4.22	6.05
Other Long-Term Assets	109.84	108.29	59.17	64.03	68.88
Total Assets	2,034	2,191	2,512	2,991	2,539
Accounts Payable	215.83	226.35	293.09	336	332.74
Accrued Expenses	37.08	21.95	27.34	47.15	44.1
Short-Term Debt	0.02	0.02	-	214	230
Current Portion of Long-Term Debt	-	-	-	228.35	-
Current Portion of Leases	3.39	4.07	0.42	5.04	4.6
Current Income Taxes Payable	21.86	6.75	20.78	31.71	40.99
Current Unearned Revenue	6.23	12.13	248.91	682.1	633.32
Other Current Liabilities	213.37	218.46	191.76	205.87	125.62
Total Current Liabilities	497.77	489.73	782.3	1,750	1,411
Long-Term Debt	-	-	-	-	128
Long-Term Leases	2.96	8.47	-	0.42	5.61
Long-Term Deferred Tax Liabilities	-	17.56	19.37	20.67	0.28
Other Long-Term Liabilities	7.54	-	-	-	-
Total Liabilities	508.26	515.76	801.66	1,771	1,545
Common Stock	242.05	242.05	242.05	242.05	201.71
Additional Paid-In Capital	9.97	9.97	9.97	9.97	9.97
Retained Earnings	1,221	1,372	1,407	914.65	716.39
Total Common Equity	1,473	1,624	1,659	1,167	928.07
Minority Interest	52.6	51.85	51.31	52.69	65.53
Shareholders' Equity	1,526	1,675	1,711	1,219	993.6
Total Liabilities & Equity	2,034	2,191	2,512	2,991	2,539
Total Debt	6.36	12.55	0.42	447.81	368.21
Net Cash (Debt)	596.52	365.24	587.84	201.89	-44.38
Net Cash Growth	63.33%	-37.87%	191.17%	-	-
Net Cash Per Share	2.46	1.51	2.43	0.83	-0.18
Filing Date Shares Outstanding	242.05	242.05	242.05	242.05	242.05
Total Common Shares Outstanding	242.05	242.05	242.05	242.05	242.05
Working Capital	1,352	1,329	1,405	923.02	816.61
Book Value Per Share	6.09	6.71	6.86	4.82	3.83
Tangible Book Value	1,473	1,624	1,659	1,167	928.07
Tangible Book Value Per Share	6.09	6.71	6.86	4.82	3.83
Buildings	44.35	44.35	44.35	44.35	44.35
Machinery	8.99	10.05	9.77	10.32	10.41
Construction In Progress	-	173.57	175.8	168.16	148.27

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