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	Jan '25 Jan 1, 2025	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	468.19	289.81	202.13	332.65	236.21	380.08
Trading Asset Securities	100.09	-	-	-	18.96	242
Cash & Short-Term Investments	568.28	289.81	202.13	332.65	255.17	622.08
Cash Growth	461.20%	43.38%	-39.23%	30.36%	-58.98%	126.05%
Accounts Receivable	202.27	203.26	197.35	153.03	160.45	116.08
Other Receivables	27.18	28.06	28.02	36.92	14.24	11.01
Receivables	229.45	231.32	225.37	189.94	174.69	127.09
Inventory	205.43	181.08	203.34	203.96	194.92	165.71
Other Current Assets	121.31	138.3	46.56	23.95	54.2	23.66
Total Current Assets	1,124	840.51	677.41	750.5	678.97	938.55
Property, Plant & Equipment	1,334	1,341	1,360	1,284	1,009	495.04
Long-Term Investments	9.78	9.78	9.78	9.78	9.78	9.78
Other Intangible Assets	51.88	48.23	58.7	47.51	49.1	51.65
Long-Term Deferred Tax Assets	3.32	3.15	27.72	31.39	14.36	2.15
Long-Term Deferred Charges	27.72	17.22	12.43	4.79	4.49	4.57
Other Long-Term Assets	5.84	3.74	22.07	17.09	126.41	4.17
Total Assets	2,557	2,264	2,168	2,145	1,892	1,506
Accounts Payable	105.68	151.31	174.88	173.94	241.88	178.13
Accrued Expenses	12.86	29.81	30.95	33.54	23.39	23.92
Short-Term Debt	457.25	147.21	37.01	11.01	-	-
Current Portion of Long-Term Debt	43.95	43.91	100.77	124.89	22.49	-
Current Portion of Leases	-	0.3	0.1	0.62	0.68	1.63
Current Income Taxes Payable	2.39	-	0.09	2.69	3.42	2.74
Current Unearned Revenue	20.31	22.25	22.05	17.29	19.64	12.32
Other Current Liabilities	13.93	18.7	29.95	69.36	73.84	13.05
Total Current Liabilities	656.37	413.48	395.8	433.36	385.33	231.78
Long-Term Debt	336.99	289.99	341.79	303.8	174.88	109.15
Long-Term Leases	0.3	0.3	-	0.1	0.62	0.38
Long-Term Unearned Revenue	83.93	85.09	80.76	76.1	55.23	31.25
Long-Term Deferred Tax Liabilities	8.08	8.08	1.12	1.99	3.53	1.19
Total Liabilities	1,086	796.94	819.48	815.35	619.6	373.75
Common Stock	144	144	144	144	120	100
Additional Paid-In Capital	395.54	395.54	395.54	395.54	419.54	439.54
Retained Earnings	932.13	927.44	808.77	790.57	732.63	592.61
Shareholders' Equity	1,472	1,467	1,348	1,330	1,272	1,132
Total Liabilities & Equity	2,557	2,264	2,168	2,145	1,892	1,506
Total Debt	838.49	481.71	479.67	440.43	198.68	111.16
Net Cash (Debt)	-270.21	-191.9	-277.54	-107.79	56.49	510.93
Net Cash Growth	-	-	-	-	-88.94%	85.72%
Net Cash Per Share	-1.88	-1.33	-1.93	-0.75	0.39	3.79
Filing Date Shares Outstanding	144	144	144	144	144	144
Total Common Shares Outstanding	144	144	144	144	144	144
Working Capital	468.09	427.02	281.6	317.15	293.64	706.76
Book Value Per Share	10.22	10.19	9.36	9.24	8.83	7.86
Tangible Book Value	1,420	1,419	1,290	1,283	1,223	1,081
Tangible Book Value Per Share	9.86	9.85	8.96	8.91	8.49	7.50
Buildings	-	798.92	795.52	692.77	164.36	164.36
Machinery	-	788.91	741.6	282.33	250.86	246.28
Construction In Progress	-	18.48	35.22	591.23	850.16	320.02

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