Global Top E-Commerce 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	Dec '21 Dec 31, 2021
Cash & Equivalents	308	144.78	304.86	526.5	528.88
Cash & Short-Term Investments	308	144.78	304.86	526.5	528.88
Cash Growth	112.74%	-52.51%	-42.10%	-0.45%	-19.69%
Accounts Receivable	725.05	718.32	332.43	529.18	385.09
Other Receivables	142.54	251.94	652.58	434.33	434.37
Receivables	867.59	970.25	985.01	963.5	819.46
Inventory	132.32	357.21	523.08	418.59	389.31
Other Current Assets	123.89	116.63	146.63	213.61	65.71
Total Current Assets	1,432	1,589	1,960	2,122	1,803
Property, Plant & Equipment	16.9	38.3	50.03	63.52	96.12
Long-Term Investments	55.4	57.81	57.73	59.6	58.87
Goodwill	1,063	1,178	1,414	1,414	1,414
Other Intangible Assets	1.81	9.22	10.94	13.44	29.49
Long-Term Deferred Tax Assets	103.19	103.73	106.81	101.14	90.45
Long-Term Deferred Charges	0.45	0.63	3.01	3.83	3.05
Other Long-Term Assets	134.34	133.12	140.34	211.78	241.23
Total Assets	2,807	3,109	3,742	3,989	3,736
Accounts Payable	176.47	97.4	107.38	135.12	200.75
Accrued Expenses	30.96	317.6	457.48	494.38	368.27
Short-Term Debt	-	668	739	612.78	337.16
Current Portion of Long-Term Debt	4.15	-	-	-	-
Current Portion of Leases	-	9.59	18.04	15.37	14.17
Current Income Taxes Payable	106.86	90.76	87.23	96.27	73.69
Current Unearned Revenue	68.84	53.1	37.66	90.77	75.98
Other Current Liabilities	1,402	461.73	472	545.55	559.36
Total Current Liabilities	1,789	1,698	1,919	1,990	1,629
Long-Term Leases	4.29	7.08	9.81	19.64	30.63
Long-Term Unearned Revenue	5.79	-	-	-	-
Long-Term Deferred Tax Liabilities	-	0.07	0.27	0.22	-
Other Long-Term Liabilities	563.46	561.1	472.22	529.5	619.49
Total Liabilities	2,363	2,266	2,401	2,540	2,280
Common Stock	1,558	1,558	1,558	1,558	1,558
Additional Paid-In Capital	3,738	3,738	3,738	3,738	3,738
Retained Earnings	-4,646	-4,228	-3,751	-3,685	-3,703
Treasury Stock	-117.34	-117.34	-102.24	-102.24	-102.24
Comprehensive Income & Other	-79.33	-98.54	-93.81	-60.87	-45.52
Total Common Equity	453.8	852.05	1,349	1,448	1,446
Minority Interest	-9.98	-9.18	-7.68	1.36	10.81
Shareholders' Equity	443.82	842.87	1,341	1,450	1,457
Total Liabilities & Equity	2,807	3,109	3,742	3,989	3,736
Total Debt	8.44	684.67	766.85	647.79	381.95
Net Cash (Debt)	299.56	-539.89	-461.99	-121.29	146.93
Net Cash Per Share	0.19	-0.35	-0.30	-0.08	0.09
Filing Date Shares Outstanding	1,524	1,558	1,558	1,558	1,558
Total Common Shares Outstanding	1,524	1,558	1,558	1,558	1,558
Working Capital	-357.59	-109.31	40.8	131.95	173.98
Book Value Per Share	0.30	0.55	0.87	0.93	0.93
Tangible Book Value	-610.87	-334.79	-75.89	21.1	2.77
Tangible Book Value Per Share	-0.40	-0.21	-0.05	0.01	0.00
Buildings	-	36.72	36.72	36.72	65.4
Machinery	-	23.87	28.69	33.7	32.63

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.