Zhefu Holding Group 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	5,856	4,443	4,484	2,790	5,328	2,870
Short-Term Investments	-	320.01	-	-	-	-
Trading Asset Securities	247.81	277.53	275.85	296.9	171.05	109.32
Cash & Short-Term Investments	6,103	5,041	4,760	3,087	5,499	2,979
Cash Growth	13.63%	5.90%	54.18%	-43.86%	84.61%	69.69%
Accounts Receivable	2,136	2,432	1,815	1,247	1,360	1,307
Other Receivables	170.77	88.33	112.88	143.15	190.16	242.37
Receivables	2,307	2,521	1,927	1,390	1,550	1,549
Inventory	9,746	10,666	8,425	8,262	7,542	6,799
Other Current Assets	1,161	679.54	609.17	834.54	1,081	997.58
Total Current Assets	19,318	18,907	15,722	13,573	15,672	12,324
Property, Plant & Equipment	5,614	5,665	5,703	5,411	5,206	5,081
Long-Term Investments	589.77	667.79	672.33	706.61	1,216	957.14
Goodwill	1,151	1,151	1,151	1,151	1,151	1,151
Other Intangible Assets	735.45	726.28	795.92	849.2	902.76	907.62
Long-Term Deferred Tax Assets	216.29	256.79	356.42	339.07	171.79	81.95
Long-Term Deferred Charges	37.61	65.11	62.22	39.46	-	-
Other Long-Term Assets	350.72	270.48	179.67	162.06	302.55	278.26
Total Assets	28,013	27,710	24,642	22,232	24,621	20,782
Accounts Payable	9,447	9,000	7,200	4,614	3,301	3,516
Accrued Expenses	96.19	444.64	348.27	324.96	291.57	482.7
Short-Term Debt	2,787	3,460	2,580	3,051	6,644	4,503
Current Portion of Long-Term Debt	1,039	1,155	832.14	1,039	461.58	348.1
Current Portion of Leases	-	3.57	4.86	6.25	4.4	2.73
Current Income Taxes Payable	257.5	33.47	33.46	21.82	54.7	51.96
Current Unearned Revenue	717.27	572.45	705.73	390.25	595.06	535.64
Other Current Liabilities	207.7	186.63	220.62	245.28	324.2	255.18
Total Current Liabilities	14,551	14,856	11,925	9,692	11,677	9,695
Long-Term Debt	244.18	263.18	896.2	1,027	1,611	909.25
Long-Term Leases	3.92	1.03	1.8	4.34	6.9	5.31
Long-Term Unearned Revenue	107.51	111.03	108.41	106.83	115.77	108.83
Long-Term Deferred Tax Liabilities	151.53	150.52	157.52	168.55	299.67	85.65
Other Long-Term Liabilities	74.57	76.21	74.54	73.81	73.25	73.56
Total Liabilities	15,133	15,458	13,163	11,073	13,784	10,878
Common Stock	5,219	5,219	5,219	5,244	5,370	5,370
Additional Paid-In Capital	3.13	3.13	3.13	2.83	195.23	-
Retained Earnings	7,979	7,376	6,517	6,008	5,475	4,436
Treasury Stock	-172.52	-172.52	-172.52	-155.04	-155.04	-120.04
Comprehensive Income & Other	-380.89	-390.62	-284.67	-157.03	-270.4	1.28
Total Common Equity	12,648	12,035	11,282	10,943	10,615	9,687
Minority Interest	232.19	216.66	196.59	216.05	222.25	216.84
Shareholders' Equity	12,880	12,252	11,479	11,159	10,837	9,904
Total Liabilities & Equity	28,013	27,710	24,642	22,232	24,621	20,782
Total Debt	4,074	4,883	4,315	5,128	8,728	5,769
Net Cash (Debt)	2,030	158.25	444.7	-2,040	-3,229	-2,790
Net Cash Growth	33.79%	-64.42%	-	-	-	-
Net Cash Per Share	0.40	0.03	0.09	-0.38	-0.59	-0.52
Filing Date Shares Outstanding	5,165	5,165	5,165	6,015	5,345	5,345
Total Common Shares Outstanding	5,165	5,165	5,165	6,015	5,345	5,345
Working Capital	4,766	4,052	3,797	3,881	3,995	2,629
Book Value Per Share	2.45	2.33	2.18	1.82	1.99	1.81
Tangible Book Value	10,761	10,158	9,335	8,942	8,561	7,629
Tangible Book Value Per Share	2.08	1.97	1.81	1.49	1.60	1.43
Buildings	-	3,124	2,794	2,575	2,325	2,102
Machinery	-	4,693	4,252	3,555	164.15	153.93
Construction In Progress	-	833.96	1,155	1,339	1,164	1,829

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