Zhejiang Truelove Vogue 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	-	-	202.13	332.65	236.21	380.08
Trading Asset Securities	-	-	-	-	18.96	242
Cash & Short-Term Investments	-	-	202.13	332.65	255.17	622.08
Cash Growth	-	-	-39.23%	30.36%	-58.98%	126.05%
Accounts Receivable	-	-	197.35	153.03	160.45	116.08
Other Receivables	-	-	28.02	36.92	14.24	11.01
Receivables	-	-	225.37	189.94	174.69	127.09
Inventory	-	-	203.34	203.96	194.92	165.71
Other Current Assets	-	-	46.56	23.95	54.2	23.66
Total Current Assets	-	-	677.41	750.5	678.97	938.55
Property, Plant & Equipment	-	-	1,360	1,284	1,009	495.04
Long-Term Investments	-	-	9.78	9.78	9.78	9.78
Other Intangible Assets	-	-	58.7	47.51	49.1	51.65
Long-Term Deferred Tax Assets	-	-	27.72	31.39	14.36	2.15
Long-Term Deferred Charges	-	-	12.43	4.79	4.49	4.57
Other Long-Term Assets	-	-	22.07	17.09	126.41	4.17
Total Assets	-	-	2,168	2,145	1,892	1,506
Accounts Payable	-	-	174.88	173.94	241.88	178.13
Accrued Expenses	-	-	30.95	33.54	23.39	23.92
Short-Term Debt	-	-	37.01	11.01	-	-
Current Portion of Long-Term Debt	-	-	100.77	124.89	22.49	-
Current Portion of Leases	-	-	0.1	0.62	0.68	1.63
Current Income Taxes Payable	-	-	0.09	2.69	3.42	2.74
Current Unearned Revenue	-	-	22.05	17.29	19.64	12.32
Other Current Liabilities	-	-	29.95	69.36	73.84	13.05
Total Current Liabilities	-	-	395.8	433.36	385.33	231.78
Long-Term Debt	-	-	341.79	303.8	174.88	109.15
Long-Term Leases	-	-	-	0.1	0.62	0.38
Long-Term Unearned Revenue	-	-	80.76	76.1	55.23	31.25
Long-Term Deferred Tax Liabilities	-	-	1.12	1.99	3.53	1.19
Total Liabilities	-	-	819.48	815.35	619.6	373.75
Common Stock	-	-	144	144	120	100
Additional Paid-In Capital	-	-	395.54	395.54	419.54	439.54
Retained Earnings	-	-	808.77	790.57	732.63	592.61
Shareholders' Equity	-	-	1,348	1,330	1,272	1,132
Total Liabilities & Equity	-	-	2,168	2,145	1,892	1,506
Total Debt	-	-	479.67	440.43	198.68	111.16
Net Cash (Debt)	-	-	-277.54	-107.79	56.49	510.93
Net Cash Growth	-	-	-	-	-88.94%	85.72%
Net Cash Per Share	-	-	-1.94	-0.75	0.39	3.79
Filing Date Shares Outstanding	143.82	144.01	144	144	144	144
Total Common Shares Outstanding	143.82	144.01	144	144	144	144
Working Capital	-	-	281.6	317.15	293.64	706.76
Book Value Per Share	-	-	9.36	9.24	8.83	7.86
Tangible Book Value	-	-	1,290	1,283	1,223	1,081
Tangible Book Value Per Share	-	-	8.96	8.91	8.49	7.50
Buildings	-	-	795.52	692.77	164.36	164.36
Machinery	-	-	741.6	282.33	250.86	246.28
Construction In Progress	-	-	35.22	591.23	850.16	320.02

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