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 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	672.82	562.29	488.81	237.35	150.97	165.88
Trading Asset Securities	-	-	-	1.01	-	2.01
Cash & Short-Term Investments	672.82	562.29	488.81	238.36	150.97	167.89
Cash Growth	34.87%	15.03%	105.07%	57.89%	-10.08%	-27.06%
Accounts Receivable	596.94	507.54	573.2	400.42	414.8	318.81
Other Receivables	158.91	170.72	62.98	39.41	20.77	22.26
Receivables	755.86	678.26	636.18	439.84	435.57	341.07
Inventory	342.45	366.01	422.09	318.33	242.06	231.99
Prepaid Expenses	-	-	0.77	-	-	-
Other Current Assets	65.87	102.51	68.47	21.3	28.92	69.31
Total Current Assets	1,837	1,709	1,616	1,018	857.52	810.26
Property, Plant & Equipment	2,020	2,077	2,121	2,347	2,217	1,457
Long-Term Investments	53.25	55.26	39.44	49.43	45.69	27.06
Goodwill	-	-	137.97	138.42	0.45	0.45
Other Intangible Assets	197.03	198.6	204.94	218.17	183.54	186.8
Long-Term Deferred Tax Assets	12.8	11.88	17.9	9.28	9.59	9.08
Long-Term Deferred Charges	0.33	0.38	0.72	0.1	0.16	-
Other Long-Term Assets	12.44	2.5	7.43	11.82	16.92	144.64
Total Assets	4,133	4,055	4,146	3,793	3,331	2,636
Accounts Payable	358.83	378.46	627.28	553.01	632.36	509.35
Accrued Expenses	47.41	54.97	70.9	57.86	75.87	56.5
Short-Term Debt	385.21	330.21	254.6	189.14	230.48	194.98
Current Portion of Long-Term Debt	35.45	91.65	16.94	8.82	13.98	-
Current Portion of Leases	-	-	5.32	4.34	1.18	0.62
Current Income Taxes Payable	52.35	26.85	10.45	2.05	21.27	10.55
Current Unearned Revenue	14.62	28.6	17.43	29.53	32.26	20.71
Other Current Liabilities	52.36	61.15	49.35	26.48	27.5	49.47
Total Current Liabilities	946.22	971.88	1,052	871.23	1,035	842.18
Long-Term Debt	663.95	670.98	644.46	588.25	357.88	182.33
Long-Term Leases	1.28	1.56	3.38	6.36	1.86	1.15
Long-Term Unearned Revenue	33.3	35.72	48.72	39.88	54.98	61.62
Long-Term Deferred Tax Liabilities	3.1	3.2	4.01	4.49	-	-
Other Long-Term Liabilities	118.18	117.43	183.2	187.42	-	-
Total Liabilities	1,766	1,801	1,936	1,698	1,450	1,087
Common Stock	349.19	348.5	348.14	342.29	342.45	342.58
Additional Paid-In Capital	95.48	86.25	164.63	130.15	132.79	131.85
Retained Earnings	1,847	1,744	1,637	1,536	1,419	1,099
Treasury Stock	-74.43	-74.55	-41.86	-12.9	-16.61	-26.7
Comprehensive Income & Other	84.71	88	101.53	99.04	4.25	1.2
Total Common Equity	2,302	2,193	2,210	2,095	1,882	1,548
Minority Interest	64.6	61.69	-	-	-	-
Shareholders' Equity	2,367	2,254	2,210	2,095	1,882	1,548
Total Liabilities & Equity	4,133	4,055	4,146	3,793	3,331	2,636
Total Debt	1,086	1,094	924.7	796.91	605.37	379.09
Net Cash (Debt)	-413.08	-532.11	-435.89	-558.55	-454.4	-211.21
Net Cash Per Share	-1.17	-1.50	-1.24	-1.62	-1.32	-0.62
Filing Date Shares Outstanding	345.47	348.5	348.14	341.7	342.43	342.58
Total Common Shares Outstanding	345.47	348.5	348.14	342.29	342.45	342.58
Working Capital	890.77	737.18	564.04	146.59	-177.38	-31.92
Book Value Per Share	6.66	6.29	6.35	6.12	5.49	4.52
Tangible Book Value	2,105	1,994	1,867	1,738	1,698	1,361
Tangible Book Value Per Share	6.09	5.72	5.36	5.08	4.96	3.97
Buildings	-	-	731.96	725.33	295.99	282.26
Machinery	-	-	2,140	2,133	1,029	913.86
Construction In Progress	-	-	60.67	165.01	1,412	693.74

Updated Mar 31, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.