Zhongbai Holdings Group 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	704.47	945.85	1,224	1,425	1,163	1,365
Cash & Short-Term Investments	704.47	945.85	1,224	1,425	1,163	1,365
Cash Growth	-42.15%	-22.71%	-14.14%	22.59%	-14.82%	36.73%
Accounts Receivable	433.93	467.77	387.26	250.87	150.38	121.9
Other Receivables	113.89	129.96	111.44	72.36	40.73	35.49
Receivables	547.82	597.74	498.7	323.22	191.11	157.39
Inventory	1,064	1,517	1,552	1,857	1,747	1,765
Prepaid Expenses	-	5.35	4.63	-	-	-
Other Current Assets	168.66	193.73	228.57	339.68	292.3	270.48
Total Current Assets	2,485	3,259	3,508	3,946	3,393	3,557
Property, Plant & Equipment	6,024	6,300	6,741	7,301	7,701	4,627
Long-Term Investments	72.56	154.95	184.26	232.37	215.43	239.79
Goodwill	18.28	18.28	18.28	18.28	18.28	18.28
Other Intangible Assets	309.08	322.34	328.12	340.16	352.21	364.25
Long-Term Deferred Tax Assets	119.33	119.55	82.07	128.63	20.22	21.13
Long-Term Deferred Charges	397.05	486.03	596.78	678.14	707.37	673.95
Other Long-Term Assets	43.68	43.81	46.69	50.67	53.88	55.52
Total Assets	9,469	10,704	11,506	12,694	12,461	9,557
Accounts Payable	1,695	2,126	2,054	2,698	2,393	2,544
Accrued Expenses	43.34	82.74	80.25	88.74	105.96	106.84
Short-Term Debt	1,332	1,300	1,268	1,322	1,098	995
Current Portion of Leases	307.45	339.92	304.98	413.49	547.5	-
Current Income Taxes Payable	33.2	11.92	14.1	12.86	6.68	41.75
Current Unearned Revenue	2,248	2,260	2,278	2,143	2,043	1,791
Other Current Liabilities	620.89	622.99	680.13	667.59	542.34	559.79
Total Current Liabilities	6,280	6,743	6,679	7,346	6,737	6,038
Long-Term Leases	1,779	1,967	2,326	2,527	2,523	-
Long-Term Unearned Revenue	31.68	37.04	2.49	3.94	5.39	6.83
Long-Term Deferred Tax Liabilities	127.78	127.89	87.45	124.77	55.29	47.81
Total Liabilities	8,218	8,875	9,095	10,001	9,320	6,093
Common Stock	662.57	669.97	681.02	681.02	681.02	681.02
Additional Paid-In Capital	861.95	872.89	922.63	909.91	1,005	1,092
Retained Earnings	-292.57	287.09	815.35	1,115	1,558	1,613
Treasury Stock	-19.64	-41.83	-74.98	-74.98	-170.07	-170.07
Comprehensive Income & Other	-0.18	-0.18	-0.14	-0.14	-0.14	-0.14
Total Common Equity	1,212	1,788	2,344	2,631	3,074	3,216
Minority Interest	38.38	41.28	66.41	62.55	67.43	247.96
Shareholders' Equity	1,251	1,829	2,410	2,693	3,141	3,464
Total Liabilities & Equity	9,469	10,704	11,506	12,694	12,461	9,557
Total Debt	3,419	3,607	3,899	4,262	4,168	995
Net Cash (Debt)	-2,714	-2,661	-2,676	-2,837	-3,006	369.78
Net Cash Growth	-	-	-	-	-	73.32%
Net Cash Per Share	-4.05	-3.93	-4.15	-4.32	-4.01	0.60
Filing Date Shares Outstanding	657.39	658.92	656.03	656.03	656.03	656.03
Total Common Shares Outstanding	657.39	658.92	656.03	656.03	656.03	656.03
Working Capital	-3,795	-3,483	-3,171	-3,400	-3,344	-2,481
Book Value Per Share	1.84	2.71	3.57	4.01	4.69	4.90
Tangible Book Value	884.79	1,447	1,997	2,272	2,703	2,834
Tangible Book Value Per Share	1.35	2.20	3.04	3.46	4.12	4.32
Buildings	-	4,195	4,184	4,184	4,183	4,005
Machinery	-	2,020	2,054	2,049	1,971	1,788
Construction In Progress	-	142.46	16.19	18.56	23.66	197.26

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.