Sichuan Hexie Shuangma 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	414.18	481.58	330.14	465.7	581.82	690.35
Short-Term Investments	-	-	-	-	2.07	-
Trading Asset Securities	168.37	79.01	10	816.33	100.6	451.45
Cash & Short-Term Investments	582.55	560.59	340.15	1,282	684.49	1,142
Cash Growth	75.58%	64.81%	-73.47%	87.30%	-40.05%	-21.90%
Accounts Receivable	304.74	304.29	267.76	223	88.31	45.03
Other Receivables	8.69	1.17	0.71	2.04	2.24	1.99
Receivables	313.44	305.46	268.47	225.04	90.55	47.02
Inventory	219.48	204.15	184.9	51.68	42.94	64.25
Other Current Assets	32.31	45.48	37.42	16.63	26.8	71.01
Total Current Assets	1,148	1,116	830.94	1,575	844.78	1,324
Property, Plant & Equipment	1,077	1,091	1,134	773.99	787.11	774.72
Long-Term Investments	6,378	6,404	5,912	5,752	5,479	4,293
Goodwill	881.62	881.62	881.62	-	-	-
Other Intangible Assets	152.66	143.16	164.88	85.38	91.11	94.22
Long-Term Deferred Tax Assets	57.47	58.05	57.83	0.38	0.43	0.96
Long-Term Deferred Charges	4.03	3.69	0.98	0.18	1.69	2.2
Other Long-Term Assets	83.25	37.73	9.58	7.21	6.52	1.15
Total Assets	9,781	9,735	8,991	8,195	7,211	6,490
Accounts Payable	310.71	323.74	280.45	197.74	255.66	147.93
Accrued Expenses	12.35	74.23	63.25	43.07	34.8	53.94
Short-Term Debt	-	-	1	9.99	43.04	24.4
Current Portion of Long-Term Debt	34.24	26.3	6.79	-	-	-
Current Portion of Leases	-	9.98	8.47	5.79	6.53	5.7
Current Income Taxes Payable	18.02	7.22	9.46	31.57	8.44	7.37
Current Unearned Revenue	76.56	77.37	92.35	85.98	92.03	116.12
Other Current Liabilities	89.87	96.02	84.34	59.54	41.61	44.47
Total Current Liabilities	541.75	614.86	546.11	433.68	482.1	399.92
Long-Term Debt	979.57	932.96	593.74	-	-	-
Long-Term Leases	30.74	30.51	15.95	5.44	9.03	12.19
Long-Term Unearned Revenue	11.57	11.75	11.56	0.46	0.51	0.55
Long-Term Deferred Tax Liabilities	271.62	268.59	247.18	273.41	191.05	133.55
Other Long-Term Liabilities	34.78	24.83	23.77	23.02	12.21	7.18
Total Liabilities	1,870	1,883	1,438	736.01	694.9	553.39
Common Stock	763.44	763.44	763.44	763.44	763.44	763.44
Additional Paid-In Capital	1,003	1,003	998.61	992.83	992.83	1,057
Retained Earnings	6,133	6,074	5,776	5,726	4,740	4,099
Treasury Stock	-88.26	-88.26	-88.26	-40.53	-	-
Comprehensive Income & Other	19.68	19.69	25.34	-0.02	-0.68	-1.96
Total Common Equity	7,831	7,773	7,475	7,441	6,496	5,917
Minority Interest	79.66	78.66	77.75	17.37	20.28	20.37
Shareholders' Equity	7,911	7,851	7,553	7,459	6,516	5,937
Total Liabilities & Equity	9,781	9,735	8,991	8,195	7,211	6,490
Total Debt	1,045	999.74	625.95	21.22	58.61	42.29
Net Cash (Debt)	-462.01	-439.15	-285.8	1,261	625.88	1,100
Net Cash Growth	-	-	-	101.45%	-43.08%	-22.71%
Net Cash Per Share	-0.85	-0.80	-0.88	1.65	0.82	1.45
Filing Date Shares Outstanding	757.22	757.22	757.22	760.89	763.44	763.44
Total Common Shares Outstanding	757.22	757.22	757.22	760.89	763.44	763.44
Working Capital	606.03	500.83	284.82	1,142	362.68	924.16
Book Value Per Share	10.34	10.26	9.87	9.78	8.51	7.75
Tangible Book Value	6,797	6,748	6,429	7,356	6,405	5,822
Tangible Book Value Per Share	8.98	8.91	8.49	9.67	8.39	7.63
Buildings	-	855.94	854.45	651.32	649.93	600.45
Machinery	-	920.63	896.58	678.06	665.54	656.25
Construction In Progress	-	19.6	14.2	29.7	4.47	0.13

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