SHE:200512 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	395.44	460.85	444.38	567.16	576.87	779.4
Short-Term Investments	718.86	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	1,114	1,298	1,092	1,482	1,565	1,475
Cash Growth	121.88%	18.80%	-26.30%	-5.31%	6.11%	2.39%
Accounts Receivable	110.64	139.97	203.96	196.96	95.95	258.13
Other Receivables	20.65	29.02	36.59	38.58	25.47	17.17
Receivables	131.29	168.99	240.55	235.54	121.42	275.3
Inventory	154.51	193.72	194.4	192.41	180.07	252.43
Other Current Assets	342.83	4.96	4.32	4.55	4.05	18.33
Total Current Assets	1,743	1,665	1,531	1,914	1,871	2,021
Property, Plant & Equipment	520.33	518.02	504.2	527.43	676.24	695.82
Long-Term Investments	57.9	216.53	540.57	100.12	0.04	0.04
Other Intangible Assets	10.4	10.81	11.95	13.48	17.97	24.28
Long-Term Deferred Tax Assets	19.77	15.84	11.87	8.38	13.68	12.7
Long-Term Deferred Charges	3	-	-	-	8.95	9.91
Other Long-Term Assets	21.83	28.23	34.96	26.37	19.96	21.98
Total Assets	2,376	2,455	2,635	2,590	2,608	2,786
Accounts Payable	330.96	386.09	536.74	501.01	401.59	645.28
Accrued Expenses	45.62	76.43	82.62	71.25	61.52	72.41
Current Portion of Leases	0.24	0.48	0.92	0.88	9.49	10.15
Current Income Taxes Payable	8.77	3.64	13.51	54.38	35.27	42.81
Current Unearned Revenue	33.8	23.62	16.3	16.49	21.52	24.03
Other Current Liabilities	30.17	16.28	19.94	19.71	28.77	31.21
Total Current Liabilities	449.57	506.54	670.03	663.72	558.17	825.89
Long-Term Leases	405.71	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	855.28	908.1	1,066	1,056	1,118	1,391
Common Stock	185.39	185.39	185.39	185.39	185.39	185.39
Additional Paid-In Capital	296.81	210.05	210.05	210.05	210.05	210.05
Retained Earnings	587.56	599.12	608.95	582.51	550.19	474.45
Comprehensive Income & Other	5.89	95.05	98.02	96.99	94.89	86.44
Total Common Equity	1,076	1,090	1,102	1,075	1,041	956.33
Minority Interest	445.22	456.98	466.62	459.44	449.29	438.87
Shareholders' Equity	1,521	1,547	1,569	1,534	1,490	1,395
Total Liabilities & Equity	2,376	2,455	2,635	2,590	2,608	2,786
Total Debt	405.95	402.04	396.93	393.05	544.34	552.66
Net Cash (Debt)	708.34	895.56	695.3	1,089	1,021	922.44
Net Cash Growth	985.01%	28.80%	-36.15%	6.67%	10.67%	-35.24%
Net Cash Per Share	3.84	4.83	3.75	5.87	5.52	4.98
Filing Date Shares Outstanding	185.39	185.39	185.39	185.39	185.39	185.39
Total Common Shares Outstanding	185.39	185.39	185.39	185.39	185.39	185.39
Working Capital	1,293	1,159	861.47	1,251	1,313	1,195
Book Value Per Share	5.80	5.88	5.95	5.80	5.61	5.16
Tangible Book Value	1,065	1,079	1,090	1,061	1,023	932.05
Tangible Book Value Per Share	5.75	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

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