Jiangsu Yanghe Distillery Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	11,165	13,263	21,748	25,813	24,375	20,956
Trading Asset Securities	7,572	7,294	6,380	5,851	7,998	10,954
Cash & Short-Term Investments	18,736	20,557	28,128	31,664	32,374	31,910
Cash Growth	-18.08%	-26.92%	-11.17%	-2.19%	1.45%	48.11%
Accounts Receivable	248.43	190.18	1,513	791.58	1,194	887.89
Other Receivables	14.37	11.88	17.05	57.78	74.36	11.52
Receivables	262.8	202.06	1,530	849.36	1,269	899.41
Inventory	19,857	20,375	19,733	18,954	17,729	16,803
Prepaid Expenses	6.77	647.73	379.1	15.37	-	-
Other Current Assets	1,493	803.87	554.15	1,052	140.71	152.41
Total Current Assets	40,356	42,586	50,325	52,535	51,512	49,765
Property, Plant & Equipment	7,524	7,587	7,551	6,845	6,586	6,822
Long-Term Investments	4,804	4,956	5,850	6,763	6,182	7,669
Goodwill	150.89	150.89	276	276	276	276
Other Intangible Assets	1,735	1,766	1,804	1,773	1,714	1,680
Long-Term Deferred Tax Assets	1,141	1,279	1,243	1,326	1,507	1,386
Long-Term Deferred Charges	75.76	88.47	116.47	8.05	12.08	16.1
Other Long-Term Assets	188.51	182.33	180.61	266.03	183.85	186.14
Total Assets	55,976	58,596	67,345	69,792	67,973	67,799

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	855.41	817.81	1,265	1,426	1,376	1,474
Accrued Expenses	946.05	1,251	1,218	1,223	1,518	1,719
Short-Term Debt	-	10.01	-	-	-	-
Current Portion of Long-Term Debt	6.83	6.8	-	-	-	-
Current Portion of Leases	28.52	31.15	23.59	25.08	23.68	8.41
Current Income Taxes Payable	154.09	55.2	36.51	508.56	563.18	2,201
Current Unearned Revenue	4,304	7,529	10,344	11,105	13,742	15,805
Other Current Liabilities	1,969	1,610	2,372	2,889	2,705	3,527
Total Current Liabilities	8,264	11,311	15,259	17,176	19,928	24,733
Long-Term Debt	140.75	81	-	-	-	0.04
Long-Term Leases	39.44	44.42	40.13	48.71	3.72	10.73
Long-Term Unearned Revenue	39.26	40.27	45.53	87.52	92.28	77.24
Long-Term Deferred Tax Liabilities	24.41	28.6	110.39	234.39	227.53	299.38
Other Long-Term Liabilities	196.62	197.36	197.64	196.01	196.46	196.69
Total Liabilities	8,705	11,703	15,652	17,742	20,448	25,317

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
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	44,746	44,358	49,153	49,500	45,118	40,259
Treasury Stock	-	-	-	-	-56.28	-56.28
Comprehensive Income & Other	-1.03	2.1	-1.23	2.02	1.98	-5.84
Total Common Equity	47,181	46,797	51,588	51,939	47,475	42,486
Minority Interest	89.92	96.22	104.8	111.35	49.5	-4.9
Shareholders' Equity	47,271	46,893	51,693	52,050	47,525	42,481
Total Liabilities & Equity	55,976	58,596	67,345	69,792	67,973	67,799

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	215.54	173.38	63.72	73.79	27.4	19.17
Net Cash (Debt)	18,521	20,384	28,065	31,590	32,346	31,891
Net Cash Growth	-18.45%	-27.37%	-11.16%	-2.34%	1.43%	48.02%
Net Cash Per Share	12.29	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	32,092	31,276	35,066	35,359	31,584	25,031
Book Value Per Share	31.32	31.06	34.25	34.48	31.52	28.38
Tangible Book Value	45,296	44,880	49,508	49,889	45,485	40,531
Tangible Book Value Per Share	30.07	29.79	32.86	33.12	30.19	27.07
Buildings	9,746	9,632	8,948	8,366	8,310	8,171
Machinery	4,526	4,473	4,064	3,832	3,759	3,757
Construction In Progress	1,555	1,456	1,913	1,457	757.15	525.5