Kehua Data 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	669.31	1,049	998.1	890.13	608.46	528.06
Short-Term Investments	409.65	856.58	285.88	277.96	-	-
Trading Asset Securities	1,426	1,172	771.87	450.79	-	200.34
Cash & Short-Term Investments	2,505	3,077	2,056	1,619	608.46	728.41
Cash Growth	86.73%	49.69%	26.99%	166.06%	-16.47%	-5.69%
Accounts Receivable	3,914	4,250	3,740	3,449	2,435	2,329
Other Receivables	137.56	117.9	116.24	136.68	131.9	163.66
Receivables	4,052	4,368	3,856	3,586	2,567	2,493
Inventory	699.92	513.1	661.01	710.54	980.92	469.65
Other Current Assets	662.45	237.49	151.9	193.33	281.83	155.93
Total Current Assets	7,919	8,196	6,725	6,108	4,439	3,847
Property, Plant & Equipment	3,763	3,790	3,561	3,686	3,844	4,108
Long-Term Investments	17.07	500.25	859.08	416.12	44.3	31.24
Goodwill	678.97	678.97	678.97	678.97	678.97	680.14
Other Intangible Assets	479.85	482.75	558.33	577.78	634.98	477.78
Long-Term Accounts Receivable	-	147.64	122.19	122.07	94.36	82.34
Long-Term Deferred Tax Assets	223.15	202.45	181.01	134.27	126.37	133.81
Long-Term Deferred Charges	54.58	70.65	56.89	96.91	64.74	133.28
Other Long-Term Assets	596.51	35.38	47.01	47.31	51.47	123.23
Total Assets	13,733	14,105	12,789	11,868	9,978	9,616
Accounts Payable	4,938	5,115	4,500	3,735	2,787	1,896
Accrued Expenses	122.54	160.82	172.57	195.71	166.9	168.42
Short-Term Debt	1.46	263.37	170.71	1	395.4	282.89
Current Portion of Long-Term Debt	372	330.43	98.63	57.34	257.46	317.55
Current Portion of Leases	-	130.2	111.8	130.1	144.76	133.58
Current Income Taxes Payable	48.4	14.68	9.04	21.48	24.99	23.3
Current Unearned Revenue	410.54	351.39	232.47	230.83	296.05	149.75
Other Current Liabilities	123.82	180.24	88.11	73.81	129.14	123.25
Total Current Liabilities	6,016	6,546	5,383	4,445	4,202	3,095
Long-Term Debt	213.03	197.46	1,901	2,115	1,298	2,089
Long-Term Leases	770.9	762.59	598.54	690.16	498.39	656.61
Long-Term Unearned Revenue	41.09	42.07	46.89	39.51	31.89	31.37
Long-Term Deferred Tax Liabilities	10.86	10.46	10.53	6.15	14.04	15.29
Other Long-Term Liabilities	49.01	-	48.38	62.23	17.84	13.23
Total Liabilities	7,101	7,559	7,988	7,358	6,062	5,900
Common Stock	515.41	515.41	461.57	461.57	461.57	461.57
Additional Paid-In Capital	3,287	3,282	1,767	1,755	1,755	1,778
Retained Earnings	2,680	2,602	2,236	1,976	1,492	1,285
Comprehensive Income & Other	6.09	6.68	208.59	208.51	0.82	0.32
Total Common Equity	6,489	6,407	4,673	4,402	3,710	3,525
Minority Interest	142.85	139.32	128.18	108.02	205.88	191.11
Shareholders' Equity	6,631	6,546	4,801	4,510	3,915	3,716
Total Liabilities & Equity	13,733	14,105	12,789	11,868	9,978	9,616
Total Debt	1,357	1,684	2,880	2,993	2,594	3,480
Net Cash (Debt)	1,148	1,393	-824.42	-1,375	-1,986	-2,751
Net Cash Per Share	2.21	2.77	-1.78	-2.98	-4.32	-5.96
Filing Date Shares Outstanding	515.41	515.41	515.41	461.57	461.57	461.57
Total Common Shares Outstanding	515.41	515.41	461.57	461.57	461.57	461.57
Working Capital	1,903	1,650	1,342	1,663	236.45	752.22
Book Value Per Share	12.59	12.43	10.12	9.54	8.04	7.64
Tangible Book Value	5,330	5,245	3,436	3,145	2,396	2,367
Tangible Book Value Per Share	10.34	10.18	7.44	6.81	5.19	5.13
Buildings	-	444.14	358.58	335.42	335.25	332.88
Machinery	-	4,599	4,168	4,098	3,963	3,561
Construction In Progress	-	333.42	419.23	148.4	397.23	646.27

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