Shandong Sunpaper 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	1,707	2,198	3,235	2,496	2,387	3,468
Short-Term Investments	-	-	-	7.62	-	-
Trading Asset Securities	-	-	-	-	4.26	-
Cash & Short-Term Investments	1,707	2,198	3,235	2,503	2,391	3,468
Cash Growth	-42.83%	-32.05%	29.22%	4.69%	-31.05%	16.70%
Accounts Receivable	4,859	4,444	3,952	4,511	3,856	2,922
Other Receivables	71.17	67.27	46.5	54.89	56.19	149.59
Receivables	4,930	4,512	3,999	4,566	3,912	3,072
Inventory	6,008	5,477	4,752	4,574	5,339	3,506
Prepaid Expenses	-	-	0.01	-	0	2.92
Other Current Assets	1,452	1,327	776.4	1,224	946.01	1,202
Total Current Assets	14,098	13,514	12,762	12,868	12,588	11,251
Property, Plant & Equipment	42,396	41,691	36,597	34,567	32,177	28,217
Long-Term Investments	458.43	456.66	437.25	412.54	385.53	386.6
Goodwill	19.31	19.31	19.31	19.31	39.41	39.41
Other Intangible Assets	2,249	2,263	2,068	1,883	1,767	1,274
Long-Term Deferred Tax Assets	234.45	221.27	305.44	332.89	290.63	235.02
Long-Term Deferred Charges	37.84	42.86	63.18	56.59	100.27	118.92
Other Long-Term Assets	403.71	381.16	375.04	411.25	674.47	1,184
Total Assets	59,897	58,589	52,626	50,551	48,022	42,706
Accounts Payable	4,679	5,417	4,853	4,815	5,032	5,105
Accrued Expenses	173.76	1,031	883.43	813.76	793.14	757.23
Short-Term Debt	8,156	7,978	6,417	8,079	8,169	7,698
Current Portion of Long-Term Debt	3,545	2,906	3,227	1,724	1,708	2,525
Current Portion of Leases	-	127.06	342.25	408.13	589.63	547.59
Current Income Taxes Payable	372.4	275.4	263.8	205.13	140.92	188.9
Current Unearned Revenue	973.66	708.51	791.37	580.97	527.7	371.63
Other Current Liabilities	880.34	192.78	208	253.51	487.64	677.82
Total Current Liabilities	18,779	18,636	16,986	16,879	17,448	17,871
Long-Term Debt	9,293	8,934	6,426	6,702	6,640	5,391
Long-Term Leases	21.41	21.51	148.2	483.97	427.74	506.47
Long-Term Unearned Revenue	450.25	375.9	329.42	319	321.13	146.47
Long-Term Deferred Tax Liabilities	8.58	9.4	9.69	10.01	9.63	4.2
Other Long-Term Liabilities	-	-	-	1.03	1.03	-
Total Liabilities	28,553	27,977	23,899	24,395	24,847	23,920
Common Stock	2,795	2,795	2,795	2,795	2,795	2,687
Additional Paid-In Capital	3,643	3,643	3,643	3,632	3,574	2,426
Retained Earnings	24,428	23,522	21,389	19,126	16,599	14,327
Treasury Stock	-	-	-	-98.45	-303.7	-520.05
Comprehensive Income & Other	364.53	542.57	787.26	597.03	420.33	-214.85
Total Common Equity	31,230	30,502	28,614	26,051	23,085	18,706
Minority Interest	113.56	109.95	112.91	104.11	89.67	80.84
Shareholders' Equity	31,344	30,612	28,727	26,155	23,175	18,786
Total Liabilities & Equity	59,897	58,589	52,626	50,551	48,022	42,706
Total Debt	21,015	19,967	16,560	17,397	17,534	16,668
Net Cash (Debt)	-19,308	-17,769	-13,325	-14,894	-15,143	-13,201
Net Cash Per Share	-6.89	-6.34	-4.77	-5.31	-5.61	-4.96
Filing Date Shares Outstanding	2,795	2,795	2,795	2,795	2,795	2,687
Total Common Shares Outstanding	2,795	2,795	2,795	2,795	2,795	2,687
Working Capital	-4,681	-5,122	-4,224	-4,011	-4,860	-6,621
Book Value Per Share	11.18	10.91	10.24	9.32	8.26	6.96
Tangible Book Value	28,963	28,220	26,527	24,149	21,279	17,392
Tangible Book Value Per Share	10.36	10.10	9.49	8.64	7.61	6.47
Buildings	-	14,761	12,557	11,949	10,069	9,030
Machinery	-	43,979	37,391	36,493	31,024	29,776
Construction In Progress	-	1,909	3,466	572.77	3,273	294.19

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