Shenzhen SED Industry 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	13,392	12,426	12,001	9,848	9,141	8,103
Trading Asset Securities	242.33	247.33	251.77	305.71	476.05	310.81
Cash & Short-Term Investments	13,635	12,674	12,253	10,153	9,617	8,413
Cash Growth	30.95%	3.44%	20.68%	5.58%	14.30%	22.17%
Accounts Receivable	44,626	45,347	42,688	29,092	28,438	23,957
Other Receivables	707.86	24.7	20.77	18.77	-	755.98
Receivables	45,334	45,371	42,708	29,110	28,438	24,713
Inventory	1,157	1,139	1,077	923.47	1,124	1,061
Prepaid Expenses	-	743.93	727.57	867.95	485.04	217.58
Other Current Assets	2,118	1,941	2,052	3,908	2,645	1,627
Total Current Assets	62,243	61,870	58,818	44,963	42,309	36,032
Property, Plant & Equipment	5,698	5,755	5,937	6,218	5,531	5,375
Long-Term Investments	1,606	1,630	1,626	1,779	1,894	1,518
Goodwill	157.61	157.61	157.61	140.73	91.23	91.23
Other Intangible Assets	1,044	1,067	1,077	1,102	1,074	1,065
Long-Term Accounts Receivable	1,294	1,297	1,397	1,124	817.2	736.86
Long-Term Deferred Tax Assets	503.82	502.78	444.58	343.29	294.25	250.35
Long-Term Deferred Charges	352.53	352.89	216.51	204.89	142.93	111.74
Other Long-Term Assets	409.84	413.54	633.51	644.83	690.77	752.83
Total Assets	73,309	73,045	70,307	56,518	52,844	45,933
Accounts Payable	40,871	40,594	38,599	25,523	23,590	19,215
Accrued Expenses	196.06	918.25	1,148	1,140	959.43	936.39
Short-Term Debt	1,379	1,176	1,187	1,375	1,851	1,486
Current Portion of Long-Term Debt	3,073	2,134	2,803	1,861	1,581	1,649
Current Portion of Leases	-	20.28	40.25	55.65	44.49	44.82
Current Income Taxes Payable	389.7	163.65	204.8	154.55	218.92	229.98
Current Unearned Revenue	3,115	3,059	3,332	4,778	5,172	5,696
Other Current Liabilities	1,005	1,497	1,443	1,780	1,722	1,483
Total Current Liabilities	50,029	49,563	48,756	36,668	35,140	30,742
Long-Term Debt	8,207	8,318	6,916	5,981	5,716	3,578
Long-Term Leases	359.66	340.78	254.36	369.38	421.84	395.09
Long-Term Unearned Revenue	164.7	163.27	155.66	156.26	161.14	176.9
Pension & Post-Retirement Benefits	-	82.63	84.19	74.44	75.06	77.8
Long-Term Deferred Tax Liabilities	90.38	91.24	100.89	108.59	90.03	96.27
Other Long-Term Liabilities	1,165	1,148	1,646	1,286	1,111	1,150
Total Liabilities	60,015	59,706	57,913	44,643	42,715	36,216
Common Stock	1,215	1,215	1,138	1,138	1,138	1,139
Additional Paid-In Capital	4,541	4,541	3,420	3,566	2,928	3,317
Retained Earnings	1,644	1,728	1,940	1,700	1,462	1,728
Comprehensive Income & Other	-13.71	-22.02	-3.21	84.46	45.57	13.79
Total Common Equity	7,387	7,462	6,495	6,489	5,573	6,198
Minority Interest	5,907	5,877	5,899	5,386	4,556	3,520
Shareholders' Equity	13,293	13,339	12,394	11,875	10,129	9,718
Total Liabilities & Equity	73,309	73,045	70,307	56,518	52,844	45,933
Total Debt	13,019	11,989	11,200	9,642	9,615	7,153
Net Cash (Debt)	616.16	684.35	1,053	511.21	2.09	1,260
Net Cash Growth	-	-34.98%	105.91%	24315.85%	-99.83%	37.09%
Net Cash Per Share	0.53	0.60	0.93	0.45	0.00	1.27
Filing Date Shares Outstanding	1,215	1,215	1,138	1,138	1,138	1,139
Total Common Shares Outstanding	1,215	1,215	1,138	1,138	1,138	1,139
Working Capital	12,213	12,307	10,062	8,295	7,169	5,291
Book Value Per Share	6.08	6.14	5.71	5.70	4.90	5.44
Tangible Book Value	6,185	6,238	5,260	5,247	4,408	5,042
Tangible Book Value Per Share	5.09	5.13	4.62	4.61	3.87	4.43
Buildings	-	1,430	1,430	1,325	1,314	1,296
Machinery	-	2,558	2,448	2,336	2,226	2,011
Construction In Progress	-	383.35	536.8	1,060	950.58	831.45

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