Shenzhen Changfang Group 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	16.48	37.75	74.98	30.78	77.46	211.3
Cash & Short-Term Investments	16.48	37.75	74.98	30.78	77.46	211.3
Cash Growth	14.24%	-49.65%	143.56%	-60.26%	-63.34%	-12.10%
Accounts Receivable	93.61	76.84	116.36	126.06	168.94	178.88
Other Receivables	4.14	4.44	7.2	6.92	18.65	14.58
Receivables	97.74	81.29	123.56	132.98	187.58	193.45
Inventory	71.79	72.16	87.82	82.52	101.51	179.36
Other Current Assets	11.98	14.09	18.35	30.24	10.85	7.1
Total Current Assets	198	205.3	304.72	276.53	377.41	591.22
Property, Plant & Equipment	241.88	247.55	288.32	351.46	415.31	533.73
Other Intangible Assets	29.61	29.88	30.53	31.6	33.1	39.21
Long-Term Accounts Receivable	-	-	-	-	-	6.9
Long-Term Deferred Tax Assets	42.92	42.94	39.79	36.86	41.37	35.3
Long-Term Deferred Charges	26.42	28.49	44.66	60.81	58.86	60.62
Other Long-Term Assets	279.01	277.36	299.35	62.13	69.22	75.76
Total Assets	817.84	831.52	1,007	819.38	995.27	1,343
Accounts Payable	119.16	120.31	137.03	179.53	214.33	293.17
Accrued Expenses	7.79	29.91	35.13	46.02	41.06	35.12
Short-Term Debt	81.41	445.78	446.48	424.96	388.58	389.02
Current Portion of Long-Term Debt	-	-	-	27.05	27.1	28.31
Current Income Taxes Payable	1.81	-	0.28	0.24	-	1.12
Current Unearned Revenue	2.78	10.67	4.74	17.35	7.87	24.25
Other Current Liabilities	477.74	78.25	84.37	29.98	45.06	53.49
Total Current Liabilities	690.68	684.92	708.04	725.13	724	824.48
Long-Term Debt	-	-	-	5	32	59
Long-Term Unearned Revenue	18.14	18.69	23.81	29.17	35.94	33.31
Long-Term Deferred Tax Liabilities	35.68	35.75	39.17	5.02	6.7	8.34
Other Long-Term Liabilities	-	-	1.13	2.87	3.95	-
Total Liabilities	744.5	739.36	772.14	767.19	802.59	925.14
Common Stock	829.87	829.87	829.87	790.11	790.11	790.11
Additional Paid-In Capital	787.98	786.16	778.8	757.81	756.01	756.01
Retained Earnings	-1,505	-1,485	-1,334	-1,496	-1,354	-1,129
Treasury Stock	-39.76	-39.76	-39.76	-	-	-
Total Common Equity	72.62	91.43	234.41	51.57	192.04	416.93
Minority Interest	0.71	0.73	0.81	0.61	0.63	0.67
Shareholders' Equity	73.33	92.16	235.23	52.19	192.68	417.6
Total Liabilities & Equity	817.84	831.52	1,007	819.38	995.27	1,343
Total Debt	81.41	445.78	446.48	457.01	447.68	476.32
Net Cash (Debt)	-64.93	-408.02	-371.5	-426.22	-370.21	-265.02
Net Cash Per Share	-0.08	-0.49	-0.47	-0.54	-0.47	-0.34
Filing Date Shares Outstanding	828.45	829.87	829.87	790.11	790.11	790.11
Total Common Shares Outstanding	828.45	829.87	829.87	790.11	790.11	790.11
Working Capital	-492.69	-479.62	-403.32	-448.6	-346.59	-233.27
Book Value Per Share	0.09	0.11	0.28	0.07	0.24	0.53
Tangible Book Value	43.01	61.55	203.88	19.98	158.94	377.71
Tangible Book Value Per Share	0.05	0.07	0.25	0.03	0.20	0.48
Buildings	-	288.87	292.9	319.71	320.79	363.17
Machinery	-	355.05	384.2	489.63	518.44	626.82
Construction In Progress	-	-	-	-	0.07	2.92

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