Qingdao Kutesmart Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	398.51	258.85	621.34	517.82	96.94	162.67
Trading Asset Securities	230.59	230.37	30.02	139.49	312.4	280
Cash & Short-Term Investments	629.1	489.22	651.37	657.31	409.34	442.67
Cash Growth	33.58%	-24.89%	-0.90%	60.58%	-7.53%	131.86%
Accounts Receivable	69.6	85.62	68.63	59.1	46.53	34.14
Other Receivables	116.98	10.62	9.68	9.02	7.09	6.66
Receivables	186.58	96.24	78.32	68.12	53.62	40.8
Inventory	81.92	70.78	112.41	138.98	122.76	99.53
Prepaid Expenses	-	-	0.13	2.28	0.06	0.09
Other Current Assets	29.73	18.49	20.01	5.38	13.32	16.2
Total Current Assets	927.33	674.73	862.22	872.06	599.1	599.29
Property, Plant & Equipment	361.55	346.26	383.07	313.6	339.12	344.86
Long-Term Investments	5.69	325.63	214.54	205.22	230.04	-
Other Intangible Assets	79.73	81.53	70.59	58.38	59.62	63.85
Long-Term Deferred Tax Assets	14.25	14.56	11.23	7.48	5.81	15.86
Long-Term Deferred Charges	63.32	26.93	3.69	1.58	1.75	1.5
Other Long-Term Assets	105.19	103.63	179.46	124.77	110.25	108.5
Total Assets	1,575	1,573	1,725	1,583	1,346	1,134
Accounts Payable	76.18	83.4	93.61	76.05	74.07	65.96
Accrued Expenses	16.53	20.44	24.22	31.83	27.92	24.54
Short-Term Debt	70	40.04	280.32	280.36	145.18	-
Current Portion of Leases	-	1.26	2.41	-	0.56	-
Current Income Taxes Payable	10.72	44.31	2.93	2.3	-	1.94
Current Unearned Revenue	48.56	56.31	53.54	58	47.6	46.65
Other Current Liabilities	42.88	37.92	62.56	27.15	21.19	21.44
Total Current Liabilities	264.87	283.67	519.58	475.67	316.53	160.53
Long-Term Leases	2.11	0.76	1.07	-	1.86	-
Long-Term Unearned Revenue	30.48	27.39	23.97	26.54	23.39	26.48
Long-Term Deferred Tax Liabilities	-	0.09	0.59	-	-	-
Total Liabilities	297.46	311.91	545.21	502.22	341.79	187.01
Common Stock	240	240	240	240	240	240
Additional Paid-In Capital	406.13	406.13	406.13	406.13	406.13	406.13
Retained Earnings	632.44	615.19	538.55	435.41	357.76	300.7
Comprehensive Income & Other	-0.06	0.03	-	-	-	-
Total Common Equity	1,279	1,261	1,185	1,082	1,004	946.83
Minority Interest	-1.11	-	-5.1	-0.67	-	-
Shareholders' Equity	1,277	1,261	1,180	1,081	1,004	946.83
Total Liabilities & Equity	1,575	1,573	1,725	1,583	1,346	1,134
Total Debt	72.11	42.06	283.8	280.36	147.61	-
Net Cash (Debt)	556.99	447.16	367.57	376.95	261.73	442.67
Net Cash Growth	50.80%	21.65%	-2.49%	44.02%	-40.88%	131.86%
Net Cash Per Share	2.33	1.87	1.55	1.59	1.11	2.14
Filing Date Shares Outstanding	240	240	240	240	240	240
Total Common Shares Outstanding	240	240	240	240	240	240
Working Capital	662.46	391.06	342.64	396.39	282.56	438.76
Book Value Per Share	5.33	5.26	4.94	4.51	4.18	3.95
Tangible Book Value	1,181	1,180	1,114	1,023	944.28	882.98
Tangible Book Value Per Share	4.92	4.92	4.64	4.26	3.93	3.68
Buildings	-	280.15	244.15	225.24	226.77	225.93
Machinery	-	211.12	289.9	249.58	245.49	225.05
Construction In Progress	-	53.35	45.3	8.06	2.95	3.52

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