Shanghai NAR Industrial 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	583.05	659.95	595.11	554.88	456.43	519.62
Short-Term Investments	-	-	-	1.6	-	-
Trading Asset Securities	56.32	29.42	30.36	106.24	90.11	116.21
Cash & Short-Term Investments	639.37	689.37	625.47	662.72	546.54	635.83
Cash Growth	-16.89%	10.22%	-5.62%	21.26%	-14.04%	63.16%
Accounts Receivable	401.85	382.57	362.22	220.58	157.76	205.86
Other Receivables	40.92	4.09	6.98	11.14	14.96	14.79
Receivables	442.76	386.66	369.2	231.72	172.71	220.65
Inventory	310.07	271.44	234.23	212.83	148.51	264.84
Other Current Assets	160.37	100.52	114.48	77.18	47.17	41.95
Total Current Assets	1,553	1,448	1,343	1,184	914.93	1,163
Property, Plant & Equipment	692.43	715.15	655.56	650.91	526.65	398.15
Long-Term Investments	553.1	450.18	432.02	446.82	408.28	13.74
Goodwill	11.38	11.38	-	-	7.41	74.43
Other Intangible Assets	107.1	108.11	80.51	81.08	83.61	61.69
Long-Term Accounts Receivable	-	-	-	-	1.91	-
Long-Term Deferred Tax Assets	26.19	25.62	25.06	17.82	13.79	13.83
Long-Term Deferred Charges	28.88	15.26	7.34	7.74	7.79	2.52
Other Long-Term Assets	1.37	19.93	9.68	1.85	4.53	16.94
Total Assets	2,973	2,794	2,554	2,391	1,969	1,745
Accounts Payable	610.85	565.28	557.86	484.29	293.29	376.68
Accrued Expenses	36.74	40.76	35.42	28.18	29.37	44.13
Short-Term Debt	320.32	276.44	241.01	125.98	101.62	51
Current Portion of Long-Term Debt	-	-	-	1.62	-	-
Current Portion of Leases	1.5	4.97	2.5	1.57	3.44	11.47
Current Income Taxes Payable	11.84	1.03	1.68	9.36	5.21	6.57
Current Unearned Revenue	22.47	33.43	27.84	25.65	16.32	52.94
Other Current Liabilities	77.14	57.13	45.83	46.27	32.74	7.08
Total Current Liabilities	1,081	979.03	912.13	722.91	481.98	549.89
Long-Term Debt	10.15	15.01	-	108.06	-	-
Long-Term Leases	31.82	29.71	17.95	18.74	21.22	24.57
Long-Term Unearned Revenue	54.16	53.9	54.81	50.53	25.28	19.81
Long-Term Deferred Tax Liabilities	35.75	35.88	40.35	40.35	42.94	5.1
Total Liabilities	1,213	1,114	1,025	940.59	571.43	599.37
Common Stock	341.54	341.54	342.03	342.21	244.66	171.4
Additional Paid-In Capital	425.11	370.5	382.58	375.09	440.46	475.67
Retained Earnings	941.79	924.46	823.92	754.6	727.39	418.26
Treasury Stock	-46.2	-46.2	-29.22	-18.15	-24.5	-
Comprehensive Income & Other	-0.41	-0.94	-0.6	-10.36	-10.39	-10.4
Total Common Equity	1,662	1,589	1,519	1,443	1,378	1,055
Minority Interest	98.46	90.74	9.59	6.7	19.84	90.26
Shareholders' Equity	1,760	1,680	1,528	1,450	1,397	1,145
Total Liabilities & Equity	2,973	2,794	2,554	2,391	1,969	1,745
Total Debt	363.79	326.13	261.46	255.96	126.29	87.04
Net Cash (Debt)	275.58	363.24	364.01	406.76	420.25	548.78
Net Cash Growth	-43.66%	-0.21%	-10.51%	-3.21%	-23.42%	40.82%
Net Cash Per Share	0.82	1.08	1.09	1.22	1.24	1.65
Filing Date Shares Outstanding	346.6	337.81	338.3	339.44	342.44	335.86
Total Common Shares Outstanding	346.6	337.81	338.3	339.44	342.44	335.86
Working Capital	471.7	468.95	431.24	461.54	432.95	613.37
Book Value Per Share	4.79	4.70	4.49	4.25	4.02	3.14
Tangible Book Value	1,543	1,470	1,438	1,362	1,287	918.82
Tangible Book Value Per Share	4.45	4.35	4.25	4.01	3.76	2.74
Buildings	-	438.27	415.72	405.61	186.35	164.61
Machinery	-	546.82	445.88	384.77	263.31	282.82
Construction In Progress	-	27.19	31.21	40.86	222.29	64.72

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