Global Top E-Commerce 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	Dec '21 Dec 31, 2021
Cash & Equivalents	114.28	308	144.78	304.86	526.5	528.88
Cash & Short-Term Investments	114.28	308	144.78	304.86	526.5	528.88
Cash Growth	-62.80%	112.74%	-52.51%	-42.10%	-0.45%	-19.69%
Accounts Receivable	1,001	725.05	718.32	332.43	529.18	385.09
Other Receivables	194.5	142.54	251.94	652.58	434.33	434.37
Receivables	1,196	867.59	970.25	985.01	963.5	819.46
Inventory	141.53	132.32	357.21	523.08	418.59	389.31
Other Current Assets	236.76	123.89	116.63	146.63	213.61	65.71
Total Current Assets	1,689	1,432	1,589	1,960	2,122	1,803
Property, Plant & Equipment	30.64	16.9	38.3	50.03	63.52	96.12
Long-Term Investments	55.18	55.4	57.81	57.73	59.6	58.87
Goodwill	1,063	1,063	1,178	1,414	1,414	1,414
Other Intangible Assets	1.73	1.81	9.22	10.94	13.44	29.49
Long-Term Deferred Tax Assets	107.72	103.19	103.73	106.81	101.14	90.45
Long-Term Deferred Charges	0.86	0.45	0.63	3.01	3.83	3.05
Other Long-Term Assets	134.34	134.34	133.12	140.34	211.78	241.23
Total Assets	3,082	2,807	3,109	3,742	3,989	3,736
Accounts Payable	58.46	69.24	97.4	107.38	135.12	200.75
Accrued Expenses	122.33	500.29	415.41	457.48	494.38	368.27
Short-Term Debt	-	629.49	668	739	612.78	337.16
Current Portion of Leases	-	4.15	9.59	18.04	15.37	14.17
Current Income Taxes Payable	-	-	-	87.23	96.27	73.69
Current Unearned Revenue	69.38	68.88	53.1	37.66	90.77	75.98
Other Current Liabilities	1,569	517.35	454.69	472	545.55	559.36
Total Current Liabilities	1,819	1,789	1,698	1,919	1,990	1,629
Long-Term Leases	16.09	4.29	7.08	9.81	19.64	30.63
Long-Term Unearned Revenue	5.72	5.79	-	-	-	-
Long-Term Deferred Tax Liabilities	-	-	0.07	0.27	0.22	-
Other Long-Term Liabilities	606.77	563.46	561.1	472.22	529.5	619.49
Total Liabilities	2,448	2,363	2,266	2,401	2,540	2,280
Common Stock	1,558	1,558	1,558	1,558	1,558	1,558
Additional Paid-In Capital	3,738	3,738	3,738	3,738	3,738	3,738
Retained Earnings	-4,489	-4,646	-4,228	-3,751	-3,685	-3,703
Treasury Stock	-117.34	-117.34	-117.34	-102.24	-102.24	-102.24
Comprehensive Income & Other	-46.36	-79.33	-98.54	-93.81	-60.87	-45.52
Total Common Equity	643.98	453.8	852.05	1,349	1,448	1,446
Minority Interest	-9.75	-9.98	-9.18	-7.68	1.36	10.81
Shareholders' Equity	634.24	443.82	842.87	1,341	1,450	1,457
Total Liabilities & Equity	3,082	2,807	3,109	3,742	3,989	3,736
Total Debt	16.09	637.94	684.67	766.85	647.79	381.95
Net Cash (Debt)	98.19	-329.93	-539.89	-461.99	-121.29	146.93
Net Cash Growth	-66.50%	-	-	-	-	-
Net Cash Per Share	0.06	-0.21	-0.35	-0.30	-0.08	0.09
Filing Date Shares Outstanding	1,538	1,558	1,558	1,558	1,558	1,558
Total Common Shares Outstanding	1,538	1,558	1,558	1,558	1,558	1,558
Working Capital	-130.52	-357.59	-109.31	40.8	131.95	173.98
Book Value Per Share	0.42	0.29	0.55	0.87	0.93	0.93
Tangible Book Value	-420.61	-610.87	-334.79	-75.89	21.1	2.77
Tangible Book Value Per Share	-0.27	-0.39	-0.21	-0.05	0.01	0.00
Buildings	-	7.95	36.72	36.72	36.72	65.4
Machinery	-	23.58	23.87	28.69	33.7	32.63

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