Jiangsu Shagang 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	10,656	6,053	8,899	6,481	1,548	317.27
Trading Asset Securities	5,219	5,811	4,508	6,259	4,789	5,148
Cash & Short-Term Investments	15,876	11,865	13,408	12,740	6,337	5,465
Cash Growth	-5.10%	-11.51%	5.24%	101.04%	15.96%	13.40%
Accounts Receivable	589.71	527.26	565.4	644.97	514.52	545.82
Other Receivables	1.69	0.6	1.85	2.35	27.39	8.07
Receivables	591.4	527.85	567.25	647.32	541.91	553.89
Inventory	1,786	1,478	1,925	2,224	2,093	2,122
Other Current Assets	80.21	136.35	126.41	193.65	191.84	218.77
Total Current Assets	18,333	14,006	16,026	15,805	9,164	8,360
Property, Plant & Equipment	6,451	6,224	6,667	6,314	5,663	4,764
Long-Term Investments	712.81	694.53	451.66	684.89	866.06	1,264
Other Intangible Assets	1,013	1,025	1,053	428.46	426.62	434.42
Long-Term Deferred Tax Assets	48.63	55.03	94.29	37.33	26.02	14.37
Other Long-Term Assets	53.57	209.56	64.85	708.99	712.8	558.04
Total Assets	26,612	22,215	24,356	23,980	16,859	15,395
Accounts Payable	3,112	2,367	2,858	3,118	3,709	3,288
Accrued Expenses	119.62	221.39	149.89	191.49	202.21	269.18
Short-Term Debt	11,403	7,681	9,589	8,857	1,994	730.73
Current Portion of Long-Term Debt	44.98	158.5	364.14	164.55	-	-
Current Income Taxes Payable	35.42	5.98	14.09	37.29	51.11	254.62
Current Unearned Revenue	572.38	554.63	501.98	376.16	452.67	656.99
Other Current Liabilities	343.25	338.84	376.65	391.64	396.58	359.48
Total Current Liabilities	15,630	11,327	13,854	13,136	6,805	5,559
Long-Term Debt	311.23	307.5	302.97	378.1	96	-
Long-Term Unearned Revenue	145.75	151.48	172.87	137.75	73.58	52.33
Long-Term Deferred Tax Liabilities	117.01	107.63	95.19	55.95	82.75	145.11
Other Long-Term Liabilities	13.98	11.36	10.55	10.87	8.98	8.98
Total Liabilities	16,218	11,905	14,435	13,719	7,066	5,766
Common Stock	2,194	2,194	2,194	2,194	2,207	2,207
Retained Earnings	5,479	5,428	5,270	5,272	4,965	4,687
Treasury Stock	-	-	-	-	-165.38	-165.38
Comprehensive Income & Other	31.19	-1,054	-1,061	-708.27	-600.26	-598.63
Total Common Equity	6,620	6,568	6,403	6,758	6,406	6,130
Minority Interest	3,774	3,742	3,518	3,503	3,387	3,499
Shareholders' Equity	10,394	10,310	9,921	10,261	9,793	9,629
Total Liabilities & Equity	26,612	22,215	24,356	23,980	16,859	15,395
Total Debt	11,759	8,147	10,256	9,399	2,090	730.73
Net Cash (Debt)	4,116	3,718	3,151	3,341	4,247	4,734
Net Cash Growth	0.68%	17.97%	-5.68%	-21.34%	-10.28%	18.47%
Net Cash Per Share	1.85	1.67	1.36	1.48	1.97	2.17
Filing Date Shares Outstanding	2,195	2,194	2,194	2,194	2,194	2,194
Total Common Shares Outstanding	2,195	2,194	2,194	2,194	2,194	2,194
Working Capital	2,703	2,679	2,172	2,669	2,359	2,801
Book Value Per Share	3.02	2.99	2.92	3.08	2.92	2.79
Tangible Book Value	5,607	5,543	5,350	6,329	5,979	5,695
Tangible Book Value Per Share	2.55	2.53	2.44	2.88	2.73	2.60
Buildings	-	4,368	4,335	3,720	3,559	3,092
Machinery	-	9,357	9,199	8,552	7,346	7,010
Construction In Progress	-	132.04	91.49	1,002	1,054	536.97

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