Xiangxue Pharmaceutical Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	125.81	131.74	149.32	166.5	196.12	605.21
Short-Term Investments	-	13	-	-	105.42	38
Trading Asset Securities	-	-	-	0.13	65.63	19.34
Cash & Short-Term Investments	125.81	144.74	149.32	166.63	367.17	662.55
Cash Growth	66.43%	-3.06%	-10.39%	-54.62%	-44.58%	26.38%
Accounts Receivable	923.31	844.23	794.44	701.7	1,220	1,226
Other Receivables	56.54	57.53	52.55	76.47	346.04	733.59
Receivables	979.84	901.76	846.99	778.17	1,566	1,960
Inventory	298.12	340.92	411.3	467.07	761.46	839.81
Other Current Assets	211.75	215.28	416.74	281.32	390.9	269.15
Total Current Assets	1,616	1,603	1,824	1,693	3,086	3,731
Property, Plant & Equipment	4,129	4,260	4,621	4,808	5,957	5,431
Long-Term Investments	124.81	123.44	178.48	472.03	270.21	443
Goodwill	199.72	199.72	199.72	199.72	266.6	626.61
Other Intangible Assets	806.89	840.4	919.28	964.09	1,034	1,084
Long-Term Deferred Tax Assets	22.44	19.66	28.42	33.35	19.37	21.23
Long-Term Deferred Charges	262.59	248.82	476.81	440.65	429.51	395.46
Other Long-Term Assets	203.76	203.74	33.08	30.95	318	463.62
Total Assets	7,365	7,498	8,281	8,642	11,381	12,197
Accounts Payable	1,136	1,154	1,087	988.95	1,123	801
Accrued Expenses	65.9	228.41	116.84	112.39	72.82	61.78
Short-Term Debt	1,344	1,355	1,498	1,926	2,466	2,881
Current Portion of Long-Term Debt	719.24	282.98	340.33	76.73	447.6	134.03
Current Portion of Leases	-	3.35	3.63	3.25	2.9	-
Current Income Taxes Payable	93.04	21.73	15.16	8.14	9.1	12.58
Current Unearned Revenue	143.64	152.94	162.81	249.79	117.38	85.01
Other Current Liabilities	2,546	2,184	1,938	1,868	2,705	2,827
Total Current Liabilities	6,048	5,382	5,162	5,233	6,944	6,802
Long-Term Debt	123.54	570.64	556	426.93	528.92	946.92
Long-Term Leases	29.72	30.88	34.92	24.92	2.36	-
Long-Term Unearned Revenue	51.13	53.18	60.42	60.35	65.65	75.66
Long-Term Deferred Tax Liabilities	7.87	8.12	9.46	6.62	3.73	0.02
Other Long-Term Liabilities	5.28	14.74	144.92	170.06	77.86	122.51
Total Liabilities	6,266	6,060	5,967	5,922	7,623	7,947
Common Stock	661.28	661.28	661.28	661.28	661.36	661.48
Additional Paid-In Capital	2,152	2,152	2,152	2,152	2,152	2,142
Retained Earnings	-2,093	-1,731	-882.06	-493.1	138.42	825.73
Treasury Stock	-8.5	-8.5	-8.5	-8.5	-8.77	-20.49
Comprehensive Income & Other	-19.64	-19.28	1.69	-5.19	2.07	4.2
Total Common Equity	692.64	1,055	1,925	2,307	2,946	3,613
Minority Interest	406.12	383.93	388.52	413.22	812.23	636.5
Shareholders' Equity	1,099	1,439	2,313	2,720	3,758	4,249
Total Liabilities & Equity	7,365	7,498	8,281	8,642	11,381	12,197
Total Debt	2,217	2,243	2,433	2,458	3,448	3,962
Net Cash (Debt)	-2,091	-2,098	-2,284	-2,291	-3,081	-3,300
Net Cash Per Share	-3.17	-3.18	-3.46	-3.46	-4.65	-5.03
Filing Date Shares Outstanding	637.59	661.74	645.14	659.23	958.52	607.92
Total Common Shares Outstanding	637.59	661.74	645.14	659.23	958.52	607.92
Working Capital	-4,433	-3,779	-3,337	-3,540	-3,858	-3,071
Book Value Per Share	1.09	1.59	2.98	3.50	3.07	5.94
Tangible Book Value	-313.97	14.78	805.7	1,143	1,645	1,902
Tangible Book Value Per Share	-0.49	0.02	1.25	1.73	1.72	3.13
Buildings	-	3,864	3,442	3,495	3,709	1,832
Machinery	-	990.74	1,043	1,040	946.22	911.88
Construction In Progress	-	614.63	1,214	1,180	2,106	3,426

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