SHE:300032 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	470.92	242.35	138.38	351.45	209.77
Trading Asset Securities	-	-	-	-	20.78
Cash & Short-Term Investments	470.92	242.35	138.38	351.45	230.55
Cash Growth	94.32%	75.13%	-60.63%	52.44%	44.18%
Accounts Receivable	320.14	398.31	370.98	846.46	581.08
Other Receivables	10.27	9.2	12.82	30.57	111.32
Receivables	330.4	407.51	383.8	877.02	692.4
Inventory	130.9	190.2	201.49	569.63	203.15
Other Current Assets	13.64	20.5	17.06	66.83	538.86
Total Current Assets	945.85	860.55	740.74	1,865	1,665
Property, Plant & Equipment	436.17	532.85	704.76	816.32	816.24
Long-Term Investments	0.73	0.74	376.07	378.13	213.42
Goodwill	3.09	3.09	3.09	3.09	3.09
Other Intangible Assets	30.11	114.05	122.74	52.67	67.38
Long-Term Deferred Tax Assets	112.64	105.73	90.76	28.19	28.43
Long-Term Deferred Charges	14.94	20.8	21.95	65.24	37.35
Other Long-Term Assets	2.92	1.86	10.26	15.34	47.55
Total Assets	1,546	1,640	2,070	3,224	2,878
Accounts Payable	351.16	432.15	434.8	1,353	486.53
Accrued Expenses	32.14	59.96	74.79	118.99	128.33
Short-Term Debt	159.22	149.22	412.18	201.7	193.93
Current Portion of Long-Term Debt	12.4	-	-	-	346.42
Current Portion of Leases	-	12.36	18.92	16.03	28.19
Current Income Taxes Payable	5.85	0.23	0.23	2.23	0.23
Current Unearned Revenue	8.35	20.5	9.63	13.87	51.11
Other Current Liabilities	99.14	63.41	37.85	112.27	49.41
Total Current Liabilities	668.27	737.82	988.4	1,818	1,284
Long-Term Leases	130.97	143.37	199.48	207.05	242.12
Long-Term Unearned Revenue	13.44	15.78	8.27	8.72	8.11
Long-Term Deferred Tax Liabilities	54.62	52.13	50.05	18.67	21.72
Other Long-Term Liabilities	18.89	36.63	24.63	0.17	210.41
Total Liabilities	886.18	985.74	1,271	2,053	1,766
Common Stock	803.17	803.17	803.17	803.17	803.17
Additional Paid-In Capital	2,966	2,966	2,990	2,990	2,990
Retained Earnings	-3,100	-3,106	-2,976	-2,598	-2,650
Comprehensive Income & Other	-1.52	-1.17	-10.5	-2.19	-1.9
Total Common Equity	667.58	661.22	806.31	1,193	1,142
Minority Interest	-7.31	-7.29	-6.77	-21.97	-29.76
Shareholders' Equity	660.27	653.93	799.54	1,171	1,112
Total Liabilities & Equity	1,546	1,640	2,070	3,224	2,878
Total Debt	302.6	304.95	630.58	424.78	810.66
Net Cash (Debt)	168.32	-62.6	-492.21	-73.33	-580.11
Net Cash Per Share	0.21	-0.08	-0.61	-0.09	-0.72
Filing Date Shares Outstanding	784.14	803.17	803.17	803.17	803.17
Total Common Shares Outstanding	784.14	803.17	803.17	803.17	803.17
Working Capital	277.59	122.73	-247.67	46.96	380.82
Book Value Per Share	0.85	0.82	1.00	1.49	1.42
Tangible Book Value	634.37	544.07	680.48	1,138	1,071
Tangible Book Value Per Share	0.81	0.68	0.85	1.42	1.33
Buildings	-	457.6	457.6	457.6	499.09
Machinery	-	815.78	952.25	965.39	831.86
Construction In Progress	-	0.72	6.03	20.77	28.24

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