SuZhou THVOW Technology. 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	634.77	845.7	967.38	559.48	1,004	1,484
Trading Asset Securities	-	-	-	-	0.24	-
Cash & Short-Term Investments	634.77	845.7	967.38	559.48	1,004	1,484
Cash Growth	2.61%	-12.58%	72.91%	-44.29%	-32.32%	-34.46%
Accounts Receivable	2,153	2,276	2,362	2,174	10,885	14,197
Other Receivables	29.04	26.34	68.96	60.65	-	147.52
Receivables	2,182	2,302	2,431	2,235	10,898	14,389
Inventory	769.55	773.98	765.48	1,014	2,352	1,866
Other Current Assets	117.59	72.6	103.56	140.5	5,741	4,407
Total Current Assets	3,704	3,995	4,268	3,949	19,995	22,146
Property, Plant & Equipment	1,339	1,351	1,072	2,649	2,961	3,128
Long-Term Investments	22.98	22.98	22.98	22.98	288.1	289.16
Goodwill	-	-	-	-	24.3	1,762
Other Intangible Assets	162.57	164.07	169.07	173.73	182.13	188.35
Long-Term Deferred Tax Assets	100.98	101.27	74.16	91.96	80.94	865.44
Long-Term Deferred Charges	0.87	0.63	3.15	1.49	21.91	23.66
Other Long-Term Assets	68.74	68.74	384.74	68.74	68.66	68.66
Total Assets	5,400	5,704	5,994	6,957	23,622	28,472
Accounts Payable	960.09	1,123	1,133	1,094	8,217	9,601
Accrued Expenses	36.65	81.68	133.36	113.58	190.25	360.74
Short-Term Debt	739.48	882.18	829.63	1,624	8,626	4,979
Current Portion of Long-Term Debt	1,602	1,035	113.16	775.17	3,102	4,198
Current Portion of Leases	-	2.33	0.93	1.76	4.65	3.86
Current Income Taxes Payable	18.36	0.71	4.89	22.46	17.66	18.05
Current Unearned Revenue	398.02	527.15	640.71	729.63	3,500	2,638
Other Current Liabilities	190.51	37.31	81.84	84.19	538.66	674.83
Total Current Liabilities	3,945	3,690	2,937	4,445	24,196	22,473
Long-Term Debt	962.7	1,532	2,655	2,155	1,620	3,731
Long-Term Leases	1.48	2.03	-	1.15	16.63	17.03
Long-Term Unearned Revenue	-	-	-	0.18	15.78	14.33
Other Long-Term Liabilities	38.81	38.49	33.35	13.39	-	-
Total Liabilities	4,948	5,262	5,625	6,615	25,848	26,235
Common Stock	858.9	858.9	858.9	858.9	858.9	869.38
Additional Paid-In Capital	3,192	3,192	3,192	3,192	2,196	2,240
Retained Earnings	-3,867	-3,870	-3,917	-3,941	-5,139	-1,251
Treasury Stock	-	-	-	-	-	-55
Comprehensive Income & Other	5.59	5.11	4.12	4.22	2.45	6.09
Total Common Equity	189.91	186.18	138.22	114.28	-2,082	1,810
Minority Interest	261.86	254.89	230.23	227.81	-144.3	426.97
Shareholders' Equity	451.77	441.07	368.45	342.09	-2,227	2,237
Total Liabilities & Equity	5,400	5,704	5,994	6,957	23,622	28,472
Total Debt	3,306	3,454	3,598	4,557	13,369	12,928
Net Cash (Debt)	-2,671	-2,608	-2,631	-3,998	-12,365	-11,444
Net Cash Per Share	-2.89	-2.78	-3.28	-4.67	-14.28	-13.21
Filing Date Shares Outstanding	815.07	858.9	858.9	858.9	858.9	858.9
Total Common Shares Outstanding	815.07	858.9	858.9	858.9	858.9	858.9
Working Capital	-240.73	305.03	1,330	-496.52	-4,201	-326.96
Book Value Per Share	0.23	0.22	0.16	0.13	-2.42	2.11
Tangible Book Value	27.34	22.11	-30.85	-59.45	-2,289	-140.39
Tangible Book Value Per Share	0.03	0.03	-0.04	-0.07	-2.66	-0.16
Buildings	-	1,356	1,356	1,348	1,355	1,352
Machinery	-	746.65	745.9	743.72	771.87	772.45
Construction In Progress	-	318.06	1.41	1,531	1,767	1,872

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