Shandong Head Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	837.82	562.29	488.81	237.35	150.97	165.88
Trading Asset Securities	-	-	-	1.01	-	2.01
Cash & Short-Term Investments	837.82	562.29	488.81	238.36	150.97	167.89
Cash Growth	97.38%	15.03%	105.07%	57.89%	-10.08%	-27.06%
Accounts Receivable	690.42	507.54	573.2	400.42	414.8	318.81
Other Receivables	135.18	170.72	62.98	39.41	20.77	22.26
Receivables	825.59	678.26	636.18	439.84	435.57	341.07
Inventory	383.79	401.17	422.09	318.33	242.06	231.99
Prepaid Expenses	1.12	0.29	0.77	-	-	-
Other Current Assets	35.41	67.06	68.47	21.3	28.92	69.31
Total Current Assets	2,084	1,709	1,616	1,018	857.52	810.26
Property, Plant & Equipment	1,998	2,077	2,121	2,347	2,217	1,457
Long-Term Investments	65	55.26	39.44	49.43	45.69	27.06
Goodwill	-	-	137.97	138.42	0.45	0.45
Other Intangible Assets	195.63	198.6	204.94	218.17	183.54	186.8
Long-Term Deferred Tax Assets	12.42	11.88	17.9	9.28	9.59	9.08
Long-Term Deferred Charges	0.28	0.38	0.72	0.1	0.16	-
Other Long-Term Assets	18.81	2.5	7.43	11.82	16.92	144.64
Total Assets	4,374	4,055	4,146	3,793	3,331	2,636

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	429.36	378.46	627.28	553.01	632.36	509.35
Accrued Expenses	62.58	78.73	70.9	57.86	75.87	56.5
Short-Term Debt	452.21	347.86	254.6	189.14	230.48	194.98
Current Portion of Long-Term Debt	27.47	87.04	16.94	8.82	13.98	-
Current Portion of Leases	2.59	4.61	5.32	4.34	1.18	0.62
Current Income Taxes Payable	30.6	11.09	10.45	2.05	21.27	10.55
Current Unearned Revenue	19.79	28.6	17.43	29.53	32.26	20.71
Other Current Liabilities	100.77	35.48	49.35	26.48	27.5	49.47
Total Current Liabilities	1,125	971.88	1,052	871.23	1,035	842.18
Long-Term Debt	663.07	670.98	644.46	588.25	357.88	182.33
Long-Term Leases	3.76	1.56	3.38	6.36	1.86	1.15
Long-Term Unearned Revenue	31.49	35.72	48.72	39.88	54.98	61.62
Long-Term Deferred Tax Liabilities	2.87	3.2	4.01	4.49	-	-
Other Long-Term Liabilities	118.93	117.43	183.2	187.42	-	-
Total Liabilities	1,945	1,801	1,936	1,698	1,450	1,087

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Common Stock	349.66	348.5	348.14	342.29	342.45	342.58
Additional Paid-In Capital	101.97	86.25	164.63	130.15	132.79	131.85
Retained Earnings	1,888	1,744	1,637	1,536	1,419	1,099
Treasury Stock	-74.39	-74.55	-41.86	-12.9	-16.61	-26.7
Comprehensive Income & Other	85.01	88	101.53	99.04	4.25	1.2
Total Common Equity	2,351	2,193	2,210	2,095	1,882	1,548
Minority Interest	77.88	61.69	-	-	-	-
Shareholders' Equity	2,428	2,254	2,210	2,095	1,882	1,548
Total Liabilities & Equity	4,374	4,055	4,146	3,793	3,331	2,636

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	1,149	1,112	924.7	796.91	605.37	379.09
Net Cash (Debt)	-311.29	-549.77	-435.89	-558.55	-454.4	-211.21
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.88	-1.55	-1.24	-1.62	-1.32	-0.62
Filing Date Shares Outstanding	345.65	345.33	348.14	341.7	342.43	342.58
Total Common Shares Outstanding	345.65	344.48	348.14	342.29	342.45	342.58
Working Capital	958.36	737.18	564.04	146.59	-177.38	-31.92
Book Value Per Share	6.80	6.37	6.35	6.12	5.49	4.52
Tangible Book Value	2,155	1,994	1,867	1,738	1,698	1,361
Tangible Book Value Per Share	6.23	5.79	5.36	5.08	4.96	3.97
Buildings	753.18	740.58	731.96	725.33	295.99	282.26
Machinery	2,193	2,157	2,140	2,133	1,029	913.86
Construction In Progress	195.94	210.87	60.67	165.01	1,412	693.74