Xiangxue Pharmaceutical 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	144.74	254.57	131.74	149.32	166.5	196.12
Short-Term Investments	-	-	13	-	-	105.42
Trading Asset Securities	-	-	-	-	0.13	65.63
Cash & Short-Term Investments	144.74	254.57	144.74	149.32	166.63	367.17
Cash Growth	151.63%	75.88%	-3.06%	-10.39%	-54.62%	-44.58%
Accounts Receivable	845.8	798.98	844.23	794.44	701.7	1,220
Other Receivables	32.31	31.35	57.53	52.55	76.47	346.04
Receivables	878.1	830.33	901.76	846.99	778.17	1,566
Inventory	335.02	295.43	340.92	411.3	467.07	761.46
Other Current Assets	215.15	224.69	215.28	416.74	281.32	390.9
Total Current Assets	1,573	1,605	1,603	1,824	1,693	3,086
Property, Plant & Equipment	3,590	3,634	4,260	4,621	4,808	5,957
Long-Term Investments	92.44	95.21	123.44	178.48	472.03	270.21
Goodwill	199.72	199.72	199.72	199.72	199.72	266.6
Other Intangible Assets	727.23	737.57	840.4	919.28	964.09	1,034
Long-Term Deferred Tax Assets	9.41	9.37	19.66	28.42	33.35	19.37
Long-Term Deferred Charges	268.86	262.34	248.82	476.81	440.65	429.51
Other Long-Term Assets	203.4	201.44	203.74	33.08	30.95	318
Total Assets	6,664	6,745	7,498	8,281	8,642	11,381
Accounts Payable	1,157	1,185	1,154	1,087	988.95	1,123
Accrued Expenses	70.75	69.13	228.41	116.84	112.39	72.82
Short-Term Debt	853.28	882.6	1,355	1,498	1,926	2,466
Current Portion of Long-Term Debt	489.03	119.68	282.98	340.33	76.73	447.6
Current Portion of Leases	-	-	3.35	3.63	3.25	2.9
Current Income Taxes Payable	130.94	123.73	21.73	15.16	8.14	9.1
Current Unearned Revenue	108.87	131.87	152.94	162.81	249.79	117.38
Other Current Liabilities	3,777	3,658	2,184	1,938	1,868	2,705
Total Current Liabilities	6,587	6,171	5,382	5,162	5,233	6,944
Long-Term Debt	68.11	437.44	570.64	556	426.93	528.92
Long-Term Leases	26.75	27.12	30.88	34.92	24.92	2.36
Long-Term Unearned Revenue	50.82	50.89	53.18	60.42	60.35	65.65
Long-Term Deferred Tax Liabilities	6.51	6.61	8.12	9.46	6.62	3.73
Other Long-Term Liabilities	8.71	8.16	14.74	144.92	170.06	77.86
Total Liabilities	6,748	6,701	6,060	5,967	5,922	7,623
Common Stock	661.28	661.28	661.28	661.28	661.28	661.36
Additional Paid-In Capital	2,152	2,152	2,152	2,152	2,152	2,152
Retained Earnings	-3,234	-3,123	-1,731	-882.06	-493.1	138.42
Treasury Stock	-8.5	-8.5	-8.5	-8.5	-8.5	-8.77
Comprehensive Income & Other	-42.04	-42.34	-19.28	1.69	-5.19	2.07
Total Common Equity	-471.47	-360.32	1,055	1,925	2,307	2,946
Minority Interest	387.38	404.27	383.93	388.52	413.22	812.23
Shareholders' Equity	-84.09	43.95	1,439	2,313	2,720	3,758
Total Liabilities & Equity	6,664	6,745	7,498	8,281	8,642	11,381
Total Debt	1,437	1,467	2,243	2,433	2,458	3,448
Net Cash (Debt)	-1,292	-1,212	-2,098	-2,284	-2,291	-3,081
Net Cash Per Share	-1.97	-1.84	-3.18	-3.46	-3.46	-4.65
Filing Date Shares Outstanding	655.54	665.18	661.74	645.14	659.23	958.52
Total Common Shares Outstanding	655.54	665.18	661.74	645.14	659.23	958.52
Working Capital	-5,014	-4,566	-3,779	-3,337	-3,540	-3,858
Book Value Per Share	-0.72	-0.54	1.59	2.98	3.50	3.07
Tangible Book Value	-1,398	-1,298	14.78	805.7	1,143	1,645
Tangible Book Value Per Share	-2.13	-1.95	0.02	1.25	1.73	1.72
Buildings	-	-	3,864	3,442	3,495	3,709
Machinery	-	-	990.74	1,043	1,040	946.22
Construction In Progress	-	-	614.63	1,214	1,180	2,106

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