Masterwork Group Co.,Ltd. (SHE:300195)

Masterwork Group Balance Sheet

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Jan 1, 2023	Jan 1, 2022	Dec 31, 2020
Cash & Equivalents	293.31	286.04	231.38	355.25	616.48	501.15
Short-Term Investments	-	20	103.91	10.59	45.03	-
Trading Asset Securities	-	-	4.17	-	16.83	-
Cash & Short-Term Investments	293.31	306.04	339.46	365.84	678.34	501.15
Cash Growth	26.38%	-9.84%	-7.21%	-46.07%	35.36%	-7.58%
Accounts Receivable	412.08	968.35	852.1	869.2	833.07	781.14
Other Receivables	14.74	13.42	47.33	5.01	5.92	8.52
Receivables	426.83	981.77	899.43	874.21	838.99	789.66
Inventory	1,008	865.51	869.28	882.12	705.52	612.89
Prepaid Expenses	-	3.23	2.8	-	0.18	0.49
Other Current Assets	765.76	128.85	132.76	127.38	225.5	118.8
Total Current Assets	2,494	2,285	2,244	2,250	2,449	2,023
Property, Plant & Equipment	1,103	1,121	1,140	1,255	1,216	1,198
Long-Term Investments	338.24	376.86	334.89	491.27	515.76	579.84
Goodwill	14.59	14.59	14.43	14.43	14.43	14.43
Other Intangible Assets	239.21	254.36	275.48	213.58	221.02	250.47
Long-Term Accounts Receivable	380.81	453.46	501.72	400.67	403.06	344.37
Long-Term Deferred Tax Assets	45.47	45.53	52.5	51.65	38.32	46.09
Long-Term Deferred Charges	29.87	29.79	32.19	33.61	33.05	32.09
Other Long-Term Assets	1,686	1,656	1,664	1,676	1,723	1,736
Total Assets	6,330	6,237	6,259	6,385	6,614	6,224
Accounts Payable	459.15	421.97	342.64	463.09	447.79	452.21
Accrued Expenses	27.98	40.78	46.43	64.64	62.67	48.37
Short-Term Debt	680.81	522.98	539.1	596.86	629.82	512.99
Current Portion of Long-Term Debt	618.75	502.93	884.78	536.01	616.06	221.8
Current Portion of Leases	-	0.98	1.99	0.65	0.04	-
Current Income Taxes Payable	8.72	0.99	1.98	9.03	8.29	10.16
Current Unearned Revenue	175.86	155.09	156.54	177.94	202.97	120.46
Other Current Liabilities	47.38	171.53	143.82	138.41	166.41	189.11
Total Current Liabilities	2,019	1,817	2,117	1,987	2,134	1,555
Long-Term Debt	1,269	1,345	1,043	1,430	1,375	1,595
Long-Term Leases	0.14	75.34	56.17	12.29	0.11	-
Long-Term Unearned Revenue	38.25	42.97	52.4	44.2	50.73	49.01
Long-Term Deferred Tax Liabilities	110.24	109.42	109.54	120.52	123.05	135.55
Other Long-Term Liabilities	39.17	-	44.03	84.51	128.72	93.63
Total Liabilities	3,476	3,390	3,423	3,678	3,812	3,428
Common Stock	423.71	423.71	423.39	423.39	423.39	423.39
Additional Paid-In Capital	2,256	2,254	2,245	2,261	2,262	2,262
Retained Earnings	19.98	13.33	0.72	-43.47	23.99	-61.26
Treasury Stock	-	-	-	-50.1	-50.1	-
Comprehensive Income & Other	-22.21	-25.45	-17.97	20.4	46.63	91.29
Total Common Equity	2,677	2,666	2,651	2,611	2,706	2,716
Minority Interest	176.9	181.84	185.21	96.1	95.57	80.42
Shareholders' Equity	2,854	2,847	2,836	2,707	2,802	2,796
Total Liabilities & Equity	6,330	6,237	6,259	6,385	6,614	6,224
Total Debt	2,569	2,447	2,525	2,576	2,621	2,329
Net Cash (Debt)	-2,276	-2,141	-2,186	-2,210	-1,943	-1,828
Net Cash Per Share	-5.37	-5.06	-5.86	-5.92	-4.51	-4.36
Filing Date Shares Outstanding	423.71	423.71	423.39	414.7	414.7	423.39
Total Common Shares Outstanding	423.71	423.71	423.39	414.7	414.7	423.39
Working Capital	475.2	468.15	126.45	262.92	314.49	467.9
Book Value Per Share	6.32	6.29	6.26	6.30	6.53	6.41
Tangible Book Value	2,424	2,397	2,361	2,383	2,471	2,451
Tangible Book Value Per Share	5.72	5.66	5.58	5.75	5.96	5.79
Buildings	-	1,101	1,003	1,059	991.86	927.38
Machinery	-	567.63	517.86	538.91	477.85	585.87
Construction In Progress	-	23.77	103.94	72.39	95.27	38.57

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.