Tianshan Material Ratios and Metrics

Market cap in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Feb '26 Feb 26, 2026	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
Market Capitalization	38,894	40,245	57,872	73,812	127,820	15,836
Market Cap Growth	5.19%	-30.46%	-21.60%	-42.25%	707.16%	27.43%
Enterprise Value	189,026	190,605	205,196	171,119	211,579	16,382
Last Close Price	5.47	5.66	6.55	8.09	14.15	13.54
PE Ratio	19.78	-	29.45	16.25	10.19	1.22
Forward PE	20.07	23.83	12.65	6.40	8.08	7.05
PS Ratio	0.48	0.46	0.54	0.56	0.75	0.10
PB Ratio	0.39	0.41	0.58	0.76	1.40	0.17
P/TBV Ratio	2.93	2.68	3.28	4.53	9.22	0.71
P/FCF Ratio	5.88	12.10	9.07	-	15.22	0.68
P/OCF Ratio	2.79	3.23	3.41	4.84	4.50	0.41
EV/Sales Ratio	2.35	2.19	1.91	1.29	1.24	0.10
EV/EBITDA Ratio	12.87	16.20	14.01	9.37	5.81	0.39
EV/EBIT Ratio	39.27	91.07	42.30	20.04	7.76	0.50
EV/FCF Ratio	28.56	57.32	32.17	-	25.20	0.70
Debt / Equity Ratio	1.47	1.37	1.34	1.30	1.30	1.16
Debt / EBITDA Ratio	9.88	11.28	9.03	6.83	3.25	2.60
Debt / FCF Ratio	21.92	40.91	21.07	-	14.17	4.66
Net Debt / Equity Ratio	1.35	1.24	1.18	1.18	1.13	0.99
Net Debt / EBITDA Ratio	9.26	10.45	8.11	6.30	2.84	2.23
Net Debt / FCF Ratio	20.14	36.98	18.62	-423.13	12.33	3.97
Asset Turnover	0.27	0.30	0.37	0.46	0.63	1.18
Inventory Turnover	7.33	9.29	8.52	10.20	13.20	24.16
Quick Ratio	0.43	0.45	0.46	0.39	0.43	0.44
Current Ratio	0.53	0.53	0.56	0.51	0.52	0.54
Return on Equity (ROE)	2.35%	-0.65%	2.03%	5.38%	16.13%	31.75%
Return on Assets (ROA)	1.03%	0.45%	1.04%	1.86%	6.27%	15.00%
Return on Invested Capital (ROIC)	1.41%	-6.09%	1.46%	3.32%	10.28%	23.75%
Return on Capital Employed (ROCE)	2.80%	1.20%	2.70%	5.50%	18.80%	24.30%
Earnings Yield	5.06%	-1.49%	3.40%	6.15%	9.82%	82.02%
FCF Yield	17.02%	8.26%	11.02%	-0.37%	6.57%	147.45%
Dividend Yield	-	-	1.74%	3.34%	2.33%	3.54%
Payout Ratio	134.21%	-	284.07%	338.05%	103.99%	89.10%
Buyback Yield / Dilution	15.68%	7.42%	-0.32%	-7.75%	-1.60%	-652.38%
Total Shareholder Return	15.68%	7.42%	1.42%	-4.41%	0.73%	-648.83%

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