Jiangxi Sunshine Dairy 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	368.96	359.25	552.54	487.89	363.37	328.78
Short-Term Investments	-	-	560	450	450	-
Trading Asset Securities	-	-	-	-	30	-
Cash & Short-Term Investments	368.96	359.25	1,113	937.89	843.37	328.78
Cash Growth	-36.57%	-67.71%	18.62%	11.21%	156.52%	-6.28%
Accounts Receivable	22.8	25.45	33.01	31.37	27.19	34.98
Other Receivables	13.7	11.27	18.41	13.82	9.66	1.16
Receivables	36.5	36.73	51.42	45.18	36.85	36.13
Inventory	28.86	26.63	33.07	32.72	50.74	42.75
Prepaid Expenses	-	-	-	-	-	4.85
Other Current Assets	837.78	838.46	3.32	4.33	2.74	12.9
Total Current Assets	1,272	1,261	1,200	1,020	933.71	425.41
Property, Plant & Equipment	238.8	244.76	259.25	271.8	283.15	270.52
Long-Term Investments	-	-	-	100	100	-
Other Intangible Assets	20.67	20.86	21.68	22.46	23.41	24.5
Long-Term Deferred Tax Assets	1.49	1.49	1.31	1.7	1.44	1.46
Long-Term Deferred Charges	3.43	3.73	5.67	10.58	14.35	17.53
Other Long-Term Assets	-	1.34	0.67	0.75	1.94	1.38
Total Assets	1,536	1,533	1,489	1,427	1,358	740.8
Accounts Payable	11.97	11.51	22.31	26.34	33.68	25.89
Accrued Expenses	5.33	19.43	20.33	22.02	19.85	23.86
Short-Term Debt	-	-	-	-	-	100.1
Current Portion of Long-Term Debt	0.9	0.89	-	-	-	-
Current Portion of Leases	-	-	0.85	0.82	0.88	-
Current Income Taxes Payable	2.47	2	1.85	3.15	0.18	0.01
Current Unearned Revenue	14.76	15.67	12.94	11.13	11.28	8.25
Other Current Liabilities	7.52	8.44	7.6	7.07	6.4	5.4
Total Current Liabilities	42.95	57.92	65.89	70.52	72.26	163.51
Long-Term Leases	-	-	0.89	1.74	0.09	1.8
Long-Term Unearned Revenue	4.45	4.16	3.55	4.22	4.89	5.56
Long-Term Deferred Tax Liabilities	3.45	3.65	4.53	5.45	6.16	4.46
Other Long-Term Liabilities	1.37	1.92	0.4	-	-	-
Total Liabilities	52.22	67.65	75.26	81.93	83.39	175.32
Common Stock	282.66	282.66	282.66	282.66	282.66	211.96
Additional Paid-In Capital	561.95	561.95	561.95	561.95	563.29	33.2
Retained Earnings	633.51	614.43	560.84	491.5	418.07	307.18
Total Common Equity	1,478	1,459	1,405	1,336	1,264	552.33
Minority Interest	6.13	6.54	8.24	9.36	10.58	13.14
Shareholders' Equity	1,484	1,466	1,414	1,345	1,275	565.47
Total Liabilities & Equity	1,536	1,533	1,489	1,427	1,358	740.8
Total Debt	0.9	0.89	1.74	2.55	0.96	101.9
Net Cash (Debt)	368.06	358.36	1,111	935.33	842.41	226.87
Net Cash Growth	-36.56%	-67.74%	18.76%	11.03%	271.31%	-9.51%
Net Cash Per Share	1.30	1.27	3.93	3.31	3.33	1.07
Filing Date Shares Outstanding	282.65	282.66	282.66	282.66	282.66	212.08
Total Common Shares Outstanding	282.65	282.66	282.66	282.66	282.66	212.08
Working Capital	1,229	1,203	1,134	949.6	861.45	261.91
Book Value Per Share	5.23	5.16	4.97	4.73	4.47	2.60
Tangible Book Value	1,457	1,438	1,384	1,314	1,241	527.83
Tangible Book Value Per Share	5.16	5.09	4.90	4.65	4.39	2.49
Buildings	-	-	199.33	191.89	184.81	184.81
Machinery	-	-	212.73	199.41	189.48	187.7
Construction In Progress	-	-	0.65	5.52	10.74	1.44

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