Shenzhen Changfang Group 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	37.75	74.98	30.78	77.46	211.3
Cash & Short-Term Investments	37.75	74.98	30.78	77.46	211.3
Cash Growth	-49.65%	143.56%	-60.26%	-63.34%	-12.10%
Accounts Receivable	76.84	116.36	126.06	168.94	178.88
Other Receivables	4.44	7.2	6.92	18.65	14.58
Receivables	81.29	123.56	132.98	187.58	193.45
Inventory	72.16	87.82	82.52	101.51	179.36
Other Current Assets	14.09	18.35	30.24	10.85	7.1
Total Current Assets	205.3	304.72	276.53	377.41	591.22
Property, Plant & Equipment	247.55	288.32	351.46	415.31	533.73
Other Intangible Assets	29.88	30.53	31.6	33.1	39.21
Long-Term Accounts Receivable	-	-	-	-	6.9
Long-Term Deferred Tax Assets	42.94	39.79	36.86	41.37	35.3
Long-Term Deferred Charges	28.49	44.66	60.81	58.86	60.62
Other Long-Term Assets	277.36	299.35	62.13	69.22	75.76
Total Assets	831.52	1,007	819.38	995.27	1,343
Accounts Payable	120.31	137.03	179.53	214.33	293.17
Accrued Expenses	29.91	35.13	46.02	41.06	35.12
Short-Term Debt	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	-	0.28	0.24	-	1.12
Current Unearned Revenue	10.67	4.74	17.35	7.87	24.25
Other Current Liabilities	78.25	84.37	29.98	45.06	53.49
Total Current Liabilities	684.92	708.04	725.13	724	824.48
Long-Term Debt	-	-	5	32	59
Long-Term Unearned Revenue	18.69	23.81	29.17	35.94	33.31
Long-Term Deferred Tax Liabilities	35.75	39.17	5.02	6.7	8.34
Other Long-Term Liabilities	-	1.13	2.87	3.95	-
Total Liabilities	739.36	772.14	767.19	802.59	925.14
Common Stock	829.87	829.87	790.11	790.11	790.11
Additional Paid-In Capital	786.16	778.8	757.81	756.01	756.01
Retained Earnings	-1,485	-1,334	-1,496	-1,354	-1,129
Treasury Stock	-39.76	-39.76	-	-	-
Total Common Equity	91.43	234.41	51.57	192.04	416.93
Minority Interest	0.73	0.81	0.61	0.63	0.67
Shareholders' Equity	92.16	235.23	52.19	192.68	417.6
Total Liabilities & Equity	831.52	1,007	819.38	995.27	1,343
Total Debt	445.78	446.48	457.01	447.68	476.32
Net Cash (Debt)	-408.02	-371.5	-426.22	-370.21	-265.02
Net Cash Per Share	-0.49	-0.47	-0.54	-0.47	-0.34
Filing Date Shares Outstanding	829.87	829.87	790.11	790.11	790.11
Total Common Shares Outstanding	829.87	829.87	790.11	790.11	790.11
Working Capital	-479.62	-403.32	-448.6	-346.59	-233.27
Book Value Per Share	0.11	0.28	0.07	0.24	0.53
Tangible Book Value	61.55	203.88	19.98	158.94	377.71
Tangible Book Value Per Share	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.