Zhengyuan Zhihui 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	245.18	437.12	427.09	550.56	364.03	353.18
Trading Asset Securities	60.52	30.52	8.54	0	1.01	1.6
Cash & Short-Term Investments	305.7	467.64	435.63	550.56	365.04	354.78
Cash Growth	-0.96%	7.35%	-20.88%	50.82%	2.89%	-12.03%
Accounts Receivable	727	758.64	747.05	750.53	632.15	511.11
Other Receivables	67.34	47.61	51.08	41.82	48.43	32.82
Receivables	794.34	806.24	798.12	792.35	680.58	543.93
Inventory	521.17	435.92	376.13	326.71	259.4	245.22
Prepaid Expenses	-	-	9.66	-	-	0.43
Other Current Assets	76.04	45.45	33.13	28.23	42.45	26.01
Total Current Assets	1,697	1,755	1,653	1,698	1,347	1,170
Property, Plant & Equipment	641.51	651.24	623.62	579.88	553.61	123.82
Long-Term Investments	181.9	183.79	176.14	149.73	127.93	219.43
Goodwill	118.34	120.05	123.08	125.27	128.25	14.59
Other Intangible Assets	104.11	116.58	97.59	105.03	108.46	77.47
Long-Term Accounts Receivable	-	-	23.66	25.58	30.82	-
Long-Term Deferred Tax Assets	81.97	78.07	67.55	53.88	39.46	29.55
Long-Term Deferred Charges	73.65	62.99	72.23	66.19	75.22	73.16
Other Long-Term Assets	26.56	28.05	21.01	5.02	8.01	43.21
Total Assets	2,925	2,996	2,858	2,808	2,419	1,752
Accounts Payable	211.87	239.63	215.09	235.53	204.58	211.13
Accrued Expenses	34.11	42.21	62.28	67.26	66.72	45.83
Short-Term Debt	637.88	647.16	580.31	464.99	469.36	381.67
Current Portion of Long-Term Debt	-	61.28	24.12	5.87	5.33	1.67
Current Portion of Leases	-	-	12.05	11.39	8.29	8.27
Current Income Taxes Payable	-	20.16	2.67	0.29	0.89	4.19
Current Unearned Revenue	58.72	51.65	69.63	85.02	93.53	49.04
Other Current Liabilities	205.84	145.92	129.08	135.4	204.64	19.28
Total Current Liabilities	1,148	1,208	1,095	1,006	1,053	721.08
Long-Term Debt	360.24	359.65	316.46	331.25	43.21	136.23
Long-Term Leases	19.56	19.82	27.91	34.61	34.1	37.38
Long-Term Deferred Tax Liabilities	4.23	5.95	10.58	12.67	12.68	2.22
Other Long-Term Liabilities	38.51	51.9	57.61	63.05	65.53	-
Total Liabilities	1,571	1,645	1,508	1,447	1,209	896.91
Common Stock	142.11	142.11	142.09	142.08	140.35	127.65
Additional Paid-In Capital	499.27	472.27	475.58	478.58	445	240.78
Retained Earnings	448.94	460.76	450.44	444	409.17	346.23
Treasury Stock	-38.57	-39.98	-40.11	-	-	-
Comprehensive Income & Other	58.65	58.72	58.57	58.61	0.38	35.8
Total Common Equity	1,110	1,094	1,087	1,123	994.9	750.47
Minority Interest	243.91	256.81	263.21	237.81	215.44	104.22
Shareholders' Equity	1,354	1,351	1,350	1,361	1,210	854.69
Total Liabilities & Equity	2,925	2,996	2,858	2,808	2,419	1,752
Total Debt	1,018	1,088	960.84	848.1	560.3	565.23
Net Cash (Debt)	-711.99	-620.27	-525.21	-297.54	-195.27	-210.45
Net Cash Per Share	-4.90	-4.26	-3.94	-2.13	-1.43	-1.66
Filing Date Shares Outstanding	131.31	172.36	138.78	138.78	140.35	127.65
Total Common Shares Outstanding	131.31	172.36	138.78	142.08	140.35	127.65
Working Capital	548.8	547.24	557.43	692.09	294.12	449.28
Book Value Per Share	8.46	6.35	7.83	7.91	7.09	5.88
Tangible Book Value	887.96	857.25	865.89	892.98	758.2	658.4
Tangible Book Value Per Share	6.76	4.97	6.24	6.28	5.40	5.16
Buildings	-	-	6.27	6.27	6.27	6.27
Machinery	-	-	902.05	792.13	712.08	120.4
Construction In Progress	-	-	14.26	1.57	1.78	-

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