SHE:200512 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	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	460.85	444.38	567.16	576.87	779.4
Short-Term Investments	836.75	596.91	444.82	418.81	274.97
Trading Asset Securities	-	50.94	470.01	569.49	420.72
Cash & Short-Term Investments	1,298	1,092	1,482	1,565	1,475
Cash Growth	18.80%	-26.30%	-5.31%	6.11%	2.39%
Accounts Receivable	139.97	203.96	196.96	95.95	258.13
Other Receivables	29.02	36.59	38.58	25.47	17.17
Receivables	168.99	240.55	235.54	121.42	275.3
Inventory	193.72	194.4	192.41	180.07	252.43
Other Current Assets	4.96	4.32	4.55	4.05	18.33
Total Current Assets	1,665	1,531	1,914	1,871	2,021
Property, Plant & Equipment	518.02	504.2	527.43	676.24	695.82
Long-Term Investments	216.53	540.57	100.12	0.04	0.04
Other Intangible Assets	10.81	11.95	13.48	17.97	24.28
Long-Term Deferred Tax Assets	15.84	11.87	8.38	13.68	12.7
Long-Term Deferred Charges	-	-	-	8.95	9.91
Other Long-Term Assets	28.23	34.96	26.37	19.96	21.98
Total Assets	2,455	2,635	2,590	2,608	2,786
Accounts Payable	386.09	536.74	501.01	401.59	645.28
Accrued Expenses	76.43	82.62	71.25	61.52	72.41
Current Portion of Leases	0.48	0.92	0.88	9.49	10.15
Current Income Taxes Payable	3.64	13.51	54.38	35.27	42.81
Current Unearned Revenue	23.62	16.3	16.49	21.52	24.03
Other Current Liabilities	16.28	19.94	19.71	28.77	31.21
Total Current Liabilities	506.54	670.03	663.72	558.17	825.89
Long-Term Leases	401.56	396	392.17	534.85	542.51
Pension & Post-Retirement Benefits	-	-	-	-	0.35
Long-Term Deferred Tax Liabilities	-	-	-	24.23	21.95
Other Long-Term Liabilities	-	-	-	0.48	-
Total Liabilities	908.1	1,066	1,056	1,118	1,391
Common Stock	185.39	185.39	185.39	185.39	185.39
Additional Paid-In Capital	210.05	210.05	210.05	210.05	210.05
Retained Earnings	599.12	608.95	582.51	550.19	474.45
Comprehensive Income & Other	95.05	98.02	96.99	94.89	86.44
Total Common Equity	1,090	1,102	1,075	1,041	956.33
Minority Interest	456.98	466.62	459.44	449.29	438.87
Shareholders' Equity	1,547	1,569	1,534	1,490	1,395
Total Liabilities & Equity	2,455	2,635	2,590	2,608	2,786
Total Debt	402.04	396.93	393.05	544.34	552.66
Net Cash (Debt)	895.56	695.3	1,089	1,021	922.44
Net Cash Growth	28.80%	-36.15%	6.67%	10.67%	-35.24%
Net Cash Per Share	4.83	3.75	5.87	5.52	4.98
Filing Date Shares Outstanding	185.39	185.39	185.39	185.39	185.39
Total Common Shares Outstanding	185.39	185.39	185.39	185.39	185.39
Working Capital	1,159	861.47	1,251	1,313	1,195
Book Value Per Share	5.88	5.95	5.80	5.61	5.16
Tangible Book Value	1,079	1,090	1,061	1,023	932.05
Tangible Book Value Per Share	5.82	5.88	5.73	5.52	5.03
Buildings	92.44	89.81	104.19	103.41	100.28
Machinery	1,032	993.76	972.75	967.21	940.62
Construction In Progress	14.77	3.46	1.77	2.66	1.1
Leasehold Improvements	21.32	20.75	19.21	49.75	50.19

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.