Jiangsu Yanghe Distillery 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	12,954	13,263	21,748	25,813	24,375	20,956
Trading Asset Securities	9,362	7,294	6,380	5,851	7,998	10,954
Cash & Short-Term Investments	22,316	20,557	28,128	31,664	32,374	31,910
Cash Growth	-17.22%	-26.92%	-11.17%	-2.19%	1.45%	48.11%
Accounts Receivable	918.13	190.18	1,513	791.58	1,194	887.89
Other Receivables	11.49	11.88	17.05	57.78	74.36	11.52
Receivables	929.62	202.06	1,530	849.36	1,269	899.41
Inventory	19,584	20,375	19,733	18,954	17,729	16,803
Prepaid Expenses	-	647.73	379.1	15.37	-	-
Other Current Assets	1,543	803.87	554.15	1,052	140.71	152.41
Total Current Assets	44,372	42,586	50,325	52,535	51,512	49,765
Property, Plant & Equipment	7,629	7,587	7,551	6,845	6,586	6,822
Long-Term Investments	4,939	4,956	5,850	6,763	6,182	7,669
Goodwill	150.89	150.89	276	276	276	276
Other Intangible Assets	1,750	1,766	1,804	1,773	1,714	1,680
Long-Term Deferred Tax Assets	1,178	1,279	1,243	1,326	1,507	1,386
Long-Term Deferred Charges	82.12	88.47	116.47	8.05	12.08	16.1
Other Long-Term Assets	187.01	182.33	180.61	266.03	183.85	186.14
Total Assets	60,288	58,596	67,345	69,792	67,973	67,799
Accounts Payable	886.28	817.81	1,265	1,426	1,376	1,474
Accrued Expenses	0.19	1,251	1,218	1,223	1,518	1,719
Short-Term Debt	-	10.01	-	-	-	-
Current Portion of Long-Term Debt	-	6.8	-	-	-	-
Current Portion of Leases	39.27	31.15	23.59	25.08	23.68	8.41
Current Income Taxes Payable	1,877	55.2	36.51	508.56	563.18	2,201
Current Unearned Revenue	5,415	7,529	10,344	11,105	13,742	15,805
Other Current Liabilities	2,297	1,610	2,372	2,889	2,705	3,527
Total Current Liabilities	10,514	11,311	15,259	17,176	19,928	24,733
Long-Term Debt	131	81	-	-	-	0.04
Long-Term Leases	43.93	44.42	40.13	48.71	3.72	10.73
Long-Term Unearned Revenue	39.51	40.27	45.53	87.52	92.28	77.24
Long-Term Deferred Tax Liabilities	28.12	28.6	110.39	234.39	227.53	299.38
Other Long-Term Liabilities	197.29	197.36	197.64	196.01	196.46	196.69
Total Liabilities	10,954	11,703	15,652	17,742	20,448	25,317
Common Stock	1,506	1,506	1,506	1,506	1,507	1,507
Additional Paid-In Capital	930.15	930.15	930.15	930.52	904.65	782.24
Retained Earnings	46,805	44,358	49,153	49,500	45,118	40,259
Treasury Stock	-	-	-	-	-56.28	-56.28
Comprehensive Income & Other	-0.42	2.1	-1.23	2.02	1.98	-5.84
Total Common Equity	49,241	46,797	51,588	51,939	47,475	42,486
Minority Interest	93.24	96.22	104.8	111.35	49.5	-4.9
Shareholders' Equity	49,334	46,893	51,693	52,050	47,525	42,481
Total Liabilities & Equity	60,288	58,596	67,345	69,792	67,973	67,799
Total Debt	214.2	173.38	63.72	73.79	27.4	19.17
Net Cash (Debt)	22,102	20,384	28,065	31,590	32,346	31,891
Net Cash Growth	-17.56%	-27.37%	-11.16%	-2.34%	1.43%	48.02%
Net Cash Per Share	14.67	13.53	18.63	20.97	21.47	21.30
Filing Date Shares Outstanding	1,506	1,506	1,506	1,506	1,506	1,497
Total Common Shares Outstanding	1,506	1,506	1,506	1,506	1,506	1,497
Working Capital	33,858	31,276	35,066	35,359	31,584	25,031
Book Value Per Share	32.69	31.06	34.25	34.48	31.52	28.38
Tangible Book Value	47,340	44,880	49,508	49,889	45,485	40,531
Tangible Book Value Per Share	31.42	29.79	32.86	33.12	30.19	27.07
Buildings	-	9,632	8,948	8,366	8,310	8,171
Machinery	-	4,473	4,064	3,832	3,759	3,757
Construction In Progress	-	1,456	1,913	1,457	757.15	525.5

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