Hezong Science&Technology 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	133.67	115.63	191.01	1,505	1,709	665.56
Trading Asset Securities	-	-	-	60.21	-	55.12
Cash & Short-Term Investments	133.67	115.63	191.01	1,565	1,709	720.68
Cash Growth	-15.76%	-39.46%	-87.80%	-8.39%	137.12%	100.94%
Accounts Receivable	699.16	787.24	1,034	1,710	1,617	1,384
Other Receivables	146.22	141.47	164.64	416	88.54	21.05
Receivables	845.38	928.71	1,199	2,126	1,705	1,405
Inventory	396.54	331.22	457.12	786.21	586.13	639.89
Prepaid Expenses	-	2.57	1.7	4.49	0.54	-
Other Current Assets	175.31	139.78	123.93	107.66	81.77	66.86
Total Current Assets	1,551	1,518	1,973	4,589	4,083	2,832
Property, Plant & Equipment	1,896	1,939	2,479	3,608	2,067	1,148
Long-Term Investments	44.26	44.4	44.79	47.03	425.97	487.44
Goodwill	47.61	47.61	116.06	180.3	220.48	220.48
Other Intangible Assets	374.34	380.44	537.85	652.23	288.07	247.79
Long-Term Accounts Receivable	-	46.01	45.2	48.52	32.12	-
Long-Term Deferred Tax Assets	202.08	199.73	180.43	431.6	90.38	85.03
Long-Term Deferred Charges	35.1	35.23	38.89	34.07	28.37	32.06
Other Long-Term Assets	45.67	3.88	1.94	97.21	36.89	50.89
Total Assets	4,196	4,214	5,417	9,688	7,271	5,104
Accounts Payable	1,233	1,221	1,439	2,452	1,471	1,587
Accrued Expenses	183.14	309.78	194.25	116.76	98.96	101.17
Short-Term Debt	840.31	1,107	1,404	1,770	1,427	732.43
Current Portion of Long-Term Debt	423.62	193.64	485.2	309.09	100.85	30
Current Portion of Leases	-	21.1	31.4	59.17	10.21	43.08
Current Income Taxes Payable	94.68	-	0.33	2.57	0.06	-
Current Unearned Revenue	155.6	79.69	65.66	52.69	35.48	35.33
Other Current Liabilities	1,118	1,041	470.12	443.9	376.17	38.74
Total Current Liabilities	4,048	3,972	4,090	5,205	3,520	2,567
Long-Term Debt	901.71	970.54	344.45	1,771	685.55	89.9
Long-Term Leases	0.85	0.94	9.25	25.2	13.61	41.44
Long-Term Unearned Revenue	131.33	110.85	231.27	277.08	55.82	66.33
Long-Term Deferred Tax Liabilities	24.76	24.87	63.38	88.47	6.23	3.92
Other Long-Term Liabilities	24.87	17.2	11.17	11.28	-	-
Total Liabilities	5,131	5,097	4,749	7,378	4,282	2,769
Common Stock	1,072	1,072	1,072	1,072	1,072	1,077
Additional Paid-In Capital	1,321	1,321	1,428	1,500	1,382	1,368
Retained Earnings	-2,290	-2,253	-1,359	-727.45	-84.1	-91.29
Treasury Stock	-20	-20	-20	-5	-	-17.04
Comprehensive Income & Other	-0.21	-0.24	-0.26	-1.16	-1.1	-1.38
Total Common Equity	82.92	119.75	1,121	1,839	2,369	2,335
Minority Interest	-1,018	-1,003	-453.27	471.33	620.92	-0.7
Shareholders' Equity	-935.09	-882.81	668.08	2,310	2,990	2,335
Total Liabilities & Equity	4,196	4,214	5,417	9,688	7,271	5,104
Total Debt	2,167	2,293	2,274	3,934	2,238	936.86
Net Cash (Debt)	-2,033	-2,177	-2,083	-2,368	-528.77	-216.18
Net Cash Per Share	-1.90	-2.03	-1.95	-2.21	-0.74	-0.22
Filing Date Shares Outstanding	1,065	1,065	1,065	1,071	1,072	1,077
Total Common Shares Outstanding	1,065	1,065	1,065	1,071	1,072	1,077
Working Capital	-2,497	-2,455	-2,117	-616.06	562.08	264.93
Book Value Per Share	0.08	0.11	1.05	1.72	2.21	2.17
Tangible Book Value	-339.02	-308.29	467.44	1,006	1,860	1,867
Tangible Book Value Per Share	-0.32	-0.29	0.44	0.94	1.74	1.73
Buildings	-	1,413	1,524	2,070	992.1	871.37
Machinery	-	1,395	1,797	2,220	757.38	463.65
Construction In Progress	-	75.47	113.25	167.02	660.57	8.41

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