Baoxiniao Holding 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	1,973	1,912	2,025	1,891	1,443	1,907
Trading Asset Securities	321.48	250.02	11	569.99	194.53	21.91
Cash & Short-Term Investments	2,295	2,162	2,036	2,461	1,637	1,929
Cash Growth	26.84%	6.16%	-17.27%	50.34%	-15.12%	79.54%
Accounts Receivable	730.38	701.16	768.58	718.17	658.97	595.77
Other Receivables	81.21	78.05	75.97	71.78	66.27	60.48
Receivables	811.59	779.21	844.55	789.94	725.24	656.25
Inventory	1,213	1,276	1,205	1,151	1,179	1,149
Other Current Assets	262.6	239.8	151.48	156.8	125.73	142.43
Total Current Assets	4,582	4,457	4,237	4,559	3,667	3,877
Property, Plant & Equipment	1,021	1,054	1,025	1,043	669.31	624.52
Long-Term Investments	324.62	324.51	393.95	352.82	365.03	326.95
Goodwill	64.86	64.86	64.86	82.6	82.6	12.86
Other Intangible Assets	500.01	510.99	228.52	236.42	224.33	214.17
Long-Term Deferred Tax Assets	91.62	88.54	75.96	80.49	80.45	78.72
Long-Term Deferred Charges	241.32	243.32	143.45	117.32	111.11	101.18
Other Long-Term Assets	368.79	403.58	507.12	583	790.51	882.51
Total Assets	7,194	7,147	6,676	7,055	5,990	6,118
Accounts Payable	597.54	635.76	589.79	669.93	530.21	507.32
Accrued Expenses	105.54	177.95	241.44	268.11	195.06	287.91
Short-Term Debt	597.44	573.38	318.61	549.36	277.63	80.09
Current Portion of Long-Term Debt	74.14	92.63	25.58	55.6	3	-
Current Portion of Leases	-	-	78.73	72.12	61.43	64.95
Current Income Taxes Payable	120.86	105.54	68.26	79.82	70.09	92.78
Current Unearned Revenue	304.73	395.68	361.98	367.48	323.9	386.77
Other Current Liabilities	333.97	341.97	400.5	414.25	370.68	353.37
Total Current Liabilities	2,134	2,323	2,085	2,477	1,832	1,773
Long-Term Debt	-	-	26.21	47.43	45.55	-
Long-Term Leases	59.43	61.3	40.13	43.71	45.4	53.47
Long-Term Unearned Revenue	14.31	14.49	20.67	12.33	13.63	15.44
Long-Term Deferred Tax Liabilities	2.67	2.71	2.9	4.66	5.08	9.31
Total Liabilities	2,211	2,401	2,175	2,585	1,942	1,851
Common Stock	1,459	1,459	1,459	1,459	1,459	1,459
Additional Paid-In Capital	771.05	770.92	770.4	769.87	769.35	768.82
Retained Earnings	2,646	2,409	2,140	2,112	1,706	1,933
Comprehensive Income & Other	0.23	0.18	0.12	0.16	0.17	0.16
Total Common Equity	4,876	4,639	4,370	4,341	3,935	4,161
Minority Interest	107.07	106.4	131.38	128.99	113.98	104.7
Shareholders' Equity	4,983	4,746	4,501	4,470	4,049	4,266
Total Liabilities & Equity	7,194	7,147	6,676	7,055	5,990	6,118
Total Debt	731.01	727.31	489.26	768.22	433	198.51
Net Cash (Debt)	1,564	1,434	1,547	1,693	1,204	1,730
Net Cash Growth	27.02%	-7.28%	-8.62%	40.60%	-30.40%	78.24%
Net Cash Per Share	1.04	0.97	1.06	1.16	0.81	1.42
Filing Date Shares Outstanding	1,481	1,519	1,459	1,459	1,459	1,459
Total Common Shares Outstanding	1,481	1,519	1,459	1,459	1,459	1,459
Working Capital	2,448	2,134	2,152	2,082	1,835	2,103
Book Value Per Share	3.29	3.05	2.99	2.97	2.70	2.85
Tangible Book Value	4,311	4,063	4,076	4,022	3,628	3,934
Tangible Book Value Per Share	2.91	2.67	2.79	2.76	2.49	2.70
Buildings	-	-	1,110	700.82	611.62	584.99
Machinery	-	-	317.13	315.7	334.53	330.48
Construction In Progress	-	-	78.99	457.6	140.78	50.2

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