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	Sep '26 Sep 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	910	562.29	488.81	237.35	150.97	165.88
Trading Asset Securities	-	-	-	1.01	-	2.01
Cash & Short-Term Investments	910	562.29	488.81	238.36	150.97	167.89
Cash Growth	151.14%	15.03%	105.07%	57.89%	-10.08%	-27.06%
Accounts Receivable	542.72	507.54	573.2	400.42	414.8	318.81
Other Receivables	125.8	170.72	62.98	39.41	20.77	22.26
Receivables	668.52	678.26	636.18	439.84	435.57	341.07
Inventory	430.97	401.17	422.09	318.33	242.06	231.99
Prepaid Expenses	-	0.29	0.77	-	-	-
Other Current Assets	87.68	67.06	68.47	21.3	28.92	69.31
Total Current Assets	2,097	1,709	1,616	1,018	857.52	810.26
Property, Plant & Equipment	1,966	2,077	2,121	2,347	2,217	1,457
Long-Term Investments	64.26	55.26	39.44	49.43	45.69	27.06
Goodwill	-	-	137.97	138.42	0.45	0.45
Other Intangible Assets	194.06	198.6	204.94	218.17	183.54	186.8
Long-Term Deferred Tax Assets	13.77	11.88	17.9	9.28	9.59	9.08
Long-Term Deferred Charges	0.23	0.38	0.72	0.1	0.16	-
Other Long-Term Assets	30.19	2.5	7.43	11.82	16.92	144.64
Total Assets	4,365	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	Sep '26 Sep 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	418.89	378.46	627.28	553.01	632.36	509.35
Accrued Expenses	43.97	78.73	70.9	57.86	75.87	56.5
Short-Term Debt	506.01	347.86	254.6	189.14	230.48	194.98
Current Portion of Long-Term Debt	27.15	87.04	16.94	8.82	13.98	-
Current Portion of Leases	-	4.61	5.32	4.34	1.18	0.62
Current Income Taxes Payable	28.06	11.09	10.45	2.05	21.27	10.55
Current Unearned Revenue	36.44	28.6	17.43	29.53	32.26	20.71
Other Current Liabilities	39.54	35.48	49.35	26.48	27.5	49.47
Total Current Liabilities	1,100	971.88	1,052	871.23	1,035	842.18
Long-Term Debt	649.24	670.98	644.46	588.25	357.88	182.33
Long-Term Leases	2.53	1.56	3.38	6.36	1.86	1.15
Long-Term Unearned Revenue	41.68	35.72	48.72	39.88	54.98	61.62
Long-Term Deferred Tax Liabilities	2.88	3.2	4.01	4.49	-	-
Other Long-Term Liabilities	119.68	117.43	183.2	187.42	-	-
Total Liabilities	1,916	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	Sep '26 Sep 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	348.23	348.5	348.14	342.29	342.45	342.58
Additional Paid-In Capital	97.86	86.25	164.63	130.15	132.79	131.85
Retained Earnings	1,890	1,744	1,637	1,536	1,419	1,099
Treasury Stock	-61.64	-74.55	-41.86	-12.9	-16.61	-26.7
Comprehensive Income & Other	85.61	88	101.53	99.04	4.25	1.2
Total Common Equity	2,360	2,193	2,210	2,095	1,882	1,548
Minority Interest	89.16	61.69	-	-	-	-
Shareholders' Equity	2,449	2,254	2,210	2,095	1,882	1,548
Total Liabilities & Equity	4,365	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	Sep '26 Sep 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	1,185	1,112	924.7	796.91	605.37	379.09
Net Cash (Debt)	-274.94	-549.77	-435.89	-558.55	-454.4	-211.21
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.77	-1.55	-1.24	-1.62	-1.32	-0.62
Filing Date Shares Outstanding	349.2	345.33	348.14	341.7	342.43	342.58
Total Common Shares Outstanding	349.2	344.48	348.14	342.29	342.45	342.58
Working Capital	997.1	737.18	564.04	146.59	-177.38	-31.92
Book Value Per Share	6.76	6.37	6.35	6.12	5.49	4.52
Tangible Book Value	2,166	1,994	1,867	1,738	1,698	1,361
Tangible Book Value Per Share	6.20	5.79	5.36	5.08	4.96	3.97
Buildings	-	740.58	731.96	725.33	295.99	282.26
Machinery	-	2,157	2,140	2,133	1,029	913.86
Construction In Progress	-	210.87	60.67	165.01	1,412	693.74