Cre8 Direct (NingBo) 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	465.33	584.92	560.78	421.12	322.35	167.6
Trading Asset Securities	0.08	0.08	0.08	0.08	4.55	0.25
Cash & Short-Term Investments	465.41	585	560.86	421.2	326.91	167.86
Cash Growth	3.55%	4.30%	33.16%	28.84%	94.76%	-42.48%
Accounts Receivable	275.24	256.27	293.49	211.73	167.07	235.03
Other Receivables	29.31	18.88	16.85	12.29	19.06	13.7
Receivables	304.56	275.15	310.34	224.02	186.13	248.73
Inventory	312.54	296.17	278.18	181.83	172.9	257.64
Other Current Assets	56.82	54.75	37.53	28.56	32.14	31.79
Total Current Assets	1,139	1,211	1,187	855.61	718.08	706.01
Property, Plant & Equipment	559.12	530.69	469.47	414.74	452.69	501.81
Long-Term Investments	46.31	24.41	28.51	29.26	42.01	39.6
Goodwill	22.39	22.39	25.59	25.59	28.55	30.65
Other Intangible Assets	58.79	59.24	60.28	62.52	63.61	66.37
Long-Term Accounts Receivable	0.86	0.95	1.41	-	-	-
Long-Term Deferred Tax Assets	44.46	45.24	26.09	14.96	19.63	19.02
Long-Term Deferred Charges	17.11	15.82	6.9	6.63	7.6	6
Other Long-Term Assets	82.3	125.65	95.04	80.6	33.34	2.16
Total Assets	1,971	2,035	1,900	1,490	1,366	1,372
Accounts Payable	232.08	312.52	326.02	163.86	111.38	166.66
Accrued Expenses	37.92	76.18	58.85	50.25	52.71	47.56
Short-Term Debt	215.73	148.7	124.36	37.15	87.86	206.8
Current Portion of Long-Term Debt	116.67	74.93	190.98	88.41	98.29	9.19
Current Portion of Leases	-	31.36	11.91	12.16	13.01	11.09
Current Income Taxes Payable	23.64	14.64	12.73	6.86	6.11	3.93
Current Unearned Revenue	36.87	21.88	11.32	13.36	9.49	6.86
Other Current Liabilities	2.65	4.74	4.13	6.46	9.58	20.45
Total Current Liabilities	665.55	684.95	740.29	378.51	388.42	472.54
Long-Term Debt	371.06	392.61	147.1	209	159.63	153.8
Long-Term Leases	28.76	30.72	16.33	3.58	7.9	14.81
Long-Term Unearned Revenue	32.68	33	33.92	34.31	3.7	2.42
Long-Term Deferred Tax Liabilities	15.43	15.62	10.24	8.54	10.12	9
Other Long-Term Liabilities	0.54	0.87	-	-	-	0.05
Total Liabilities	1,114	1,158	947.87	633.94	569.77	652.61
Common Stock	180.39	180.39	180.39	180.39	182	182.83
Additional Paid-In Capital	282.29	282.29	283.17	283.17	299.48	302.7
Retained Earnings	454.04	473.19	439.52	358.65	308.96	242.92
Treasury Stock	-110.08	-110.08	-	-	-18.33	-22.66
Comprehensive Income & Other	-33.89	-27.01	-14.95	-9.27	-7.93	-15.49
Total Common Equity	772.75	798.78	888.13	812.94	764.19	690.29
Minority Interest	83.89	78.92	64.2	43.01	31.56	28.71
Shareholders' Equity	856.64	877.7	952.34	855.95	795.75	719.01
Total Liabilities & Equity	1,971	2,035	1,900	1,490	1,366	1,372
Total Debt	732.22	678.32	490.67	350.3	366.69	395.69
Net Cash (Debt)	-266.82	-93.33	70.19	70.9	-39.78	-227.84
Net Cash Growth	-	-	-1.00%	-	-	-
Net Cash Per Share	-1.49	-0.52	0.39	0.39	-0.22	-1.20
Filing Date Shares Outstanding	180.39	180.39	180.39	180.39	180.39	181.22
Total Common Shares Outstanding	180.39	180.39	180.39	180.39	180.39	181.22
Working Capital	473.77	526.12	446.62	477.1	329.67	233.47
Book Value Per Share	4.28	4.43	4.92	4.51	4.24	3.81
Tangible Book Value	691.57	717.14	802.26	724.83	672.03	593.27
Tangible Book Value Per Share	3.83	3.98	4.45	4.02	3.73	3.27
Buildings	-	329.27	213.03	227.22	284.62	304.3
Machinery	-	459.35	425.01	391.48	364.79	357.1
Construction In Progress	-	0.06	99.35	38.22	7.38	1.38

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