SHE:002348 Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	24.68	32.41	18.32	10.21	17.41
Trading Asset Securities	-	0.63	-	-	0.84
Cash & Short-Term Investments	24.68	33.04	18.32	10.21	18.26
Cash Growth	-25.30%	80.33%	79.41%	-44.06%	-67.70%
Accounts Receivable	158.03	159.45	141.61	158.95	219.34
Other Receivables	4.69	3.79	1.91	1.43	2.23
Receivables	162.72	163.24	143.52	160.38	221.56
Inventory	34.5	28.06	51.74	62.51	79.45
Prepaid Expenses	-	1.27	0.7	0.01	-
Other Current Assets	8.3	5.68	6.4	10.97	19.66
Total Current Assets	230.2	231.28	220.68	244.08	338.93
Property, Plant & Equipment	435.16	461.23	490.06	518.93	545.7
Other Intangible Assets	29.05	31.07	33.71	37.55	40.72
Long-Term Deferred Tax Assets	6.55	4.32	2.25	0.3	0.31
Long-Term Deferred Charges	2.72	2.34	2.74	2.42	2.96
Total Assets	703.68	730.24	749.44	803.28	928.61
Accounts Payable	66.99	70.91	69.79	81.14	93.74
Accrued Expenses	4.8	9.94	8.3	7.3	8.88
Short-Term Debt	100.63	156.38	72	35.05	28.69
Current Portion of Long-Term Debt	18.02	0.82	36.9	36.25	16.54
Current Portion of Leases	-	1.2	1.15	0.68	0.64
Current Income Taxes Payable	2.67	0.01	0.02	-	0.62
Current Unearned Revenue	3.66	4.93	8.87	12.44	32.97
Other Current Liabilities	78.64	0.38	0.65	0.54	0.63
Total Current Liabilities	275.41	244.57	197.68	173.4	182.71
Long-Term Debt	-	18	26.08	43.28	79.28
Long-Term Leases	-	0.49	1.75	0.76	1.43
Long-Term Unearned Revenue	8.67	9.3	9.95	10.61	11.26
Long-Term Deferred Tax Liabilities	-	-	-	-	0.01
Other Long-Term Liabilities	6.38	-	-	-	-
Total Liabilities	290.46	272.36	235.47	228.04	274.69
Common Stock	947.2	947.2	947.2	947.2	947.2
Additional Paid-In Capital	9.91	9.91	9.91	9.91	9.91
Retained Earnings	-547.85	-504.62	-447.32	-385.34	-301.72
Comprehensive Income & Other	3.77	5.2	4.05	3.15	-1.78
Total Common Equity	413.02	457.69	513.83	574.92	653.61
Minority Interest	0.2	0.19	0.13	0.32	0.31
Shareholders' Equity	413.22	457.88	513.96	575.24	653.92
Total Liabilities & Equity	703.68	730.24	749.44	803.28	928.61
Total Debt	118.65	176.9	137.89	116.02	126.59
Net Cash (Debt)	-93.97	-143.86	-119.57	-105.81	-108.34
Net Cash Per Share	-0.10	-0.15	-0.13	-0.11	-0.11
Filing Date Shares Outstanding	945.42	947.2	947.2	947.2	947.2
Total Common Shares Outstanding	945.42	947.2	947.2	947.2	947.2
Working Capital	-45.21	-13.29	22.99	70.68	156.22
Book Value Per Share	0.44	0.48	0.54	0.61	0.69
Tangible Book Value	383.97	426.62	480.12	537.36	612.89
Tangible Book Value Per Share	0.41	0.45	0.51	0.57	0.65
Buildings	-	537.21	540.58	539.69	534.93
Machinery	-	261.57	254.49	252.95	241.57
Construction In Progress	-	1.5	0.68	1.78	5.23

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