Fengxing 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	82.34	269.2	326.02	360.75	561.11	424.76
Trading Asset Securities	170.24	100.12	-	80.82	-	-
Cash & Short-Term Investments	252.58	369.32	326.02	441.57	561.11	424.76
Cash Growth	-9.16%	13.28%	-26.17%	-21.30%	32.10%	81.07%
Accounts Receivable	245.56	230.4	233.71	274.75	319.7	288.8
Other Receivables	9.01	13.13	8.97	8.28	5.4	4.07
Receivables	254.57	243.53	242.68	283.03	325.1	292.87
Inventory	150.61	133.24	156.96	152.66	186.38	173.02
Other Current Assets	116.29	5.88	10.8	9.52	17.27	13.31
Total Current Assets	774.05	751.97	736.46	886.79	1,090	903.96
Property, Plant & Equipment	301.12	306.34	348.25	365.52	375.96	384.2
Long-Term Investments	70.18	70.74	67.46	65.28	72.45	73.6
Goodwill	40.16	40.16	40.16	90.96	161.39	161.39
Other Intangible Assets	55.91	56.87	60.33	62.36	66.6	68.23
Long-Term Deferred Tax Assets	11.48	12.07	10.68	12.72	7.35	4.52
Long-Term Deferred Charges	4.45	3.56	2.43	1.93	1.97	1.67
Other Long-Term Assets	0.1	0.35	1.39	0.22	0.05	0.05
Total Assets	1,257	1,242	1,267	1,486	1,776	1,598
Accounts Payable	152.54	141.84	149.33	175.83	228.03	239.25
Accrued Expenses	21.07	40.77	32.42	23.03	31.22	27.42
Short-Term Debt	15.04	5.9	10.01	23.55	17.15	58.27
Current Portion of Long-Term Debt	21.74	20.03	25.08	77.88	71.46	56
Current Portion of Leases	-	-	2.61	2.78	2.12	2.03
Current Income Taxes Payable	4.58	0.96	1.18	0.03	9.33	6.56
Current Unearned Revenue	42.64	33.01	24.81	16.23	28.75	36.45
Other Current Liabilities	38.86	34.63	38.08	26.64	62.41	10.28
Total Current Liabilities	296.47	277.14	283.5	345.97	450.47	436.26
Long-Term Debt	-	10	30	64.5	150.7	30.1
Long-Term Leases	3.82	-	0.21	4.97	4.56	6.68
Long-Term Unearned Revenue	119.92	124.57	143.17	161.82	180.38	197.92
Long-Term Deferred Tax Liabilities	-	-	0.39	2.18	1.95	1.39
Total Liabilities	420.21	411.71	457.27	579.44	788.05	672.35
Common Stock	107.99	107.99	107.99	107.99	107.99	107.99
Additional Paid-In Capital	416.69	416.69	416.69	416.69	416.69	416.69
Retained Earnings	337.04	330.38	310.21	381.67	462.9	400.27
Treasury Stock	-25.03	-25.03	-25	-	-	-
Comprehensive Income & Other	0.56	0.33	-	-	-	0.33
Total Common Equity	837.25	830.36	809.88	906.35	987.58	925.28
Shareholders' Equity	837.25	830.36	809.88	906.35	987.58	925.28
Total Liabilities & Equity	1,257	1,242	1,267	1,486	1,776	1,598
Total Debt	40.6	35.93	67.9	173.68	245.99	153.08
Net Cash (Debt)	211.98	333.39	258.12	267.89	315.12	271.68
Net Cash Growth	-6.05%	29.16%	-3.65%	-14.99%	15.99%	255.51%
Net Cash Per Share	1.95	3.14	2.42	2.47	2.93	2.93
Filing Date Shares Outstanding	111.03	106.34	106.34	107.55	107.99	107.99
Total Common Shares Outstanding	111.03	106.34	106.34	107.99	107.99	107.99
Working Capital	477.58	474.83	452.95	540.82	639.39	467.69
Book Value Per Share	7.54	7.81	7.62	8.39	9.15	8.57
Tangible Book Value	741.18	733.33	709.39	753.02	759.59	695.65
Tangible Book Value Per Share	6.68	6.90	6.67	6.97	7.03	6.44
Buildings	-	447.89	447.89	431.49	394.71	384.89
Machinery	-	205.11	214.28	204.97	197.45	195.85
Construction In Progress	-	-	-	1.99	22.08	9.29

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