Shandong Head Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	362.34	488.81	237.35	150.97	165.88	223.47
Trading Asset Securities	-	-	1.01	-	2.01	6.7
Cash & Short-Term Investments	362.34	488.81	238.36	150.97	167.89	230.16
Cash Growth	1.68%	105.07%	57.89%	-10.08%	-27.06%	20.12%
Accounts Receivable	582.79	573.2	400.42	414.8	318.81	312.77
Other Receivables	25.41	62.98	39.41	20.77	22.26	1.11
Receivables	608.2	636.18	439.84	435.57	341.07	313.88
Inventory	421.97	422.09	318.33	242.06	231.99	109.9
Prepaid Expenses	-	0.77	-	-	-	-
Other Current Assets	123.14	68.47	21.3	28.92	69.31	19.29
Total Current Assets	1,516	1,616	1,018	857.52	810.26	673.24
Property, Plant & Equipment	2,122	2,121	2,347	2,217	1,457	762.63
Long-Term Investments	61.35	39.44	49.43	45.69	27.06	34.07
Goodwill	137.97	137.97	138.42	0.45	0.45	0.45
Other Intangible Assets	200.17	204.94	218.17	183.54	186.8	128.11
Long-Term Deferred Tax Assets	20.04	17.9	9.28	9.59	9.08	5.26
Long-Term Deferred Charges	0.43	0.72	0.1	0.16	-	1.81
Other Long-Term Assets	9.23	7.43	11.82	16.92	144.64	84.07
Total Assets	4,067	4,146	3,793	3,331	2,636	1,690
Accounts Payable	435.88	627.28	553.01	632.36	509.35	153
Accrued Expenses	42.7	70.9	57.86	75.87	56.5	59.36
Short-Term Debt	174.71	254.6	189.14	230.48	194.98	85
Current Portion of Long-Term Debt	91.01	16.94	8.82	13.98	-	42.8
Current Portion of Leases	-	5.32	4.34	1.18	0.62	-
Current Income Taxes Payable	17.76	10.45	2.05	21.27	10.55	1.6
Current Unearned Revenue	17.05	17.43	29.53	32.26	20.71	18.29
Other Current Liabilities	74	49.35	26.48	27.5	49.47	33.42
Total Current Liabilities	853.11	1,052	871.23	1,035	842.18	393.46
Long-Term Debt	667.46	644.46	588.25	357.88	182.33	53.7
Long-Term Leases	2.15	3.38	6.36	1.86	1.15	-
Long-Term Unearned Revenue	35.66	48.72	39.88	54.98	61.62	38.87
Long-Term Deferred Tax Liabilities	3.3	4.01	4.49	-	-	-
Other Long-Term Liabilities	187.09	183.2	187.42	-	-	0.21
Total Liabilities	1,749	1,936	1,698	1,450	1,087	486.25
Common Stock	348.14	348.14	342.29	342.45	342.58	200.83
Additional Paid-In Capital	190.79	164.63	130.15	132.79	131.85	245.59
Retained Earnings	1,742	1,637	1,536	1,419	1,099	769.77
Treasury Stock	-71.15	-41.86	-12.9	-16.61	-26.7	-14.25
Comprehensive Income & Other	108.39	101.53	99.04	4.25	1.2	1.45
Total Common Equity	2,318	2,210	2,095	1,882	1,548	1,203
Shareholders' Equity	2,318	2,210	2,095	1,882	1,548	1,203
Total Liabilities & Equity	4,067	4,146	3,793	3,331	2,636	1,690
Total Debt	935.33	924.7	796.91	605.37	379.09	181.5
Net Cash (Debt)	-572.99	-435.89	-558.55	-454.4	-211.21	48.66
Net Cash Per Share	-1.60	-1.24	-1.62	-1.32	-0.62	0.15
Filing Date Shares Outstanding	348.14	348.14	341.7	342.43	342.58	341.41
Total Common Shares Outstanding	348.14	348.14	342.29	342.45	342.58	341.41
Working Capital	662.54	564.04	146.59	-177.38	-31.92	279.77
Book Value Per Share	6.66	6.35	6.12	5.49	4.52	3.52
Tangible Book Value	1,980	1,867	1,738	1,698	1,361	1,075
Tangible Book Value Per Share	5.69	5.36	5.08	4.96	3.97	3.15
Buildings	-	731.96	725.33	295.99	282.26	239.62
Machinery	-	2,140	2,133	1,029	913.86	811.04
Construction In Progress	-	60.67	165.01	1,412	693.74	89.13

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.