New Hope Dairy Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Jan '25 Jan 1, 2025	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	354.91	396.48	439.54	494.1	515.24
Trading Asset Securities	213.14	147.61	52	-	-
Cash & Short-Term Investments	568.05	544.08	491.54	494.1	515.24
Cash Growth	4.41%	10.69%	-0.52%	-4.10%	-24.16%
Accounts Receivable	653.09	616.38	609.9	579.96	622.76
Other Receivables	78.31	36.72	101.27	49.33	43.84
Receivables	731.4	653.1	711.17	629.29	666.6
Inventory	717.25	741.64	711.5	800.27	685.22
Other Current Assets	39.85	59.3	88.13	221.14	208.56
Total Current Assets	2,057	1,998	2,002	2,145	2,076
Property, Plant & Equipment	3,916	4,037	4,075	4,018	3,781
Long-Term Investments	1,495	1,086	1,019	1,238	1,534
Goodwill	992.46	1,003	1,003	1,190	1,190
Other Intangible Assets	570.36	661.92	681.15	776.18	712.93
Long-Term Deferred Tax Assets	29.8	21.57	30.49	25.53	30.11
Long-Term Deferred Charges	13.71	13.42	10.31	20.57	22.1
Other Long-Term Assets	61.75	58.52	117.05	76.99	157.86
Total Assets	9,135	8,879	8,938	9,490	9,504
Accounts Payable	931.91	990.64	925.38	957.58	881.93
Accrued Expenses	846.83	761.76	677.51	549.52	538
Short-Term Debt	444.28	371.08	915.57	827.87	1,755
Current Portion of Long-Term Debt	1,350	848.05	680.72	1,191	312.61
Current Portion of Leases	17.7	16.01	16.3	30.08	26.64
Current Income Taxes Payable	46.6	37.16	29.58	23.79	19.14
Current Unearned Revenue	437.69	409.28	419.64	326.31	299.54
Other Current Liabilities	346.21	296.73	353.47	354.62	465.04
Total Current Liabilities	4,421	3,731	4,018	4,261	4,298
Long-Term Debt	563.9	1,814	2,077	2,265	2,105
Long-Term Leases	60.69	68.61	71.18	78.53	40.83
Long-Term Unearned Revenue	105.12	109.78	117.26	124.4	126.05
Long-Term Deferred Tax Liabilities	11.87	13.41	15.35	24.05	27.07
Other Long-Term Liabilities	-	0.24	0.05	71.31	38.84
Total Liabilities	5,163	5,736	6,299	6,825	6,635
Common Stock	860.68	860.67	865.81	866.58	867.27
Additional Paid-In Capital	519.57	523.03	566.04	628.63	665.14
Retained Earnings	2,624	2,198	1,790	1,431	1,135
Treasury Stock	-	-	-48.06	-82.91	-126.79
Comprehensive Income & Other	-108.08	-526.5	-616.36	-324.99	97.02
Total Common Equity	3,896	3,055	2,557	2,518	2,638
Minority Interest	76.39	87.03	82.38	146.9	231.5
Shareholders' Equity	3,972	3,142	2,639	2,665	2,869
Total Liabilities & Equity	9,135	8,879	8,938	9,490	9,504
Total Debt	2,436	3,117	3,760	4,393	4,239
Net Cash (Debt)	-1,868	-2,573	-3,269	-3,899	-3,724
Net Cash Per Share	-2.17	-2.97	-3.79	-4.53	-4.29
Filing Date Shares Outstanding	860.68	860.67	865.71	866.58	867.27
Total Common Shares Outstanding	860.68	860.67	865.81	866.58	867.27
Working Capital	-2,364	-1,733	-2,016	-2,116	-2,222
Book Value Per Share	4.53	3.55	2.95	2.91	3.04
Tangible Book Value	2,333	1,391	873.08	552.29	734.84
Tangible Book Value Per Share	2.71	1.62	1.01	0.64	0.85
Buildings	2,178	2,157	2,061	1,882	1,798
Machinery	2,979	2,992	3,039	2,887	2,710
Construction In Progress	19.41	35.47	89.48	116.87	45.1

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