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	2015 - 2019
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	2015 - 2019
Cash & Equivalents	398.51	258.85	621.34	517.82	96.94	162.67	Upgrade
Trading Asset Securities	230.59	230.37	30.02	139.49	312.4	280	Upgrade
Cash & Short-Term Investments	629.1	489.22	651.37	657.31	409.34	442.67	Upgrade
Cash Growth	33.58%	-24.89%	-0.90%	60.58%	-7.53%	131.86%	Upgrade
Accounts Receivable	69.6	85.62	68.63	59.1	46.53	34.14	Upgrade
Other Receivables	116.98	10.62	9.68	9.02	7.09	6.66	Upgrade
Receivables	186.58	96.24	78.32	68.12	53.62	40.8	Upgrade
Inventory	81.92	70.78	112.41	138.98	122.76	99.53	Upgrade
Prepaid Expenses	-	-	0.13	2.28	0.06	0.09	Upgrade
Other Current Assets	29.73	18.49	20.01	5.38	13.32	16.2	Upgrade
Total Current Assets	927.33	674.73	862.22	872.06	599.1	599.29	Upgrade
Property, Plant & Equipment	361.55	346.26	383.07	313.6	339.12	344.86	Upgrade
Long-Term Investments	5.69	325.63	214.54	205.22	230.04	-	Upgrade
Other Intangible Assets	79.73	81.53	70.59	58.38	59.62	63.85	Upgrade
Long-Term Deferred Tax Assets	14.25	14.56	11.23	7.48	5.81	15.86	Upgrade
Long-Term Deferred Charges	63.32	26.93	3.69	1.58	1.75	1.5	Upgrade
Other Long-Term Assets	105.19	103.63	179.46	124.77	110.25	108.5	Upgrade
Total Assets	1,575	1,573	1,725	1,583	1,346	1,134	Upgrade
Accounts Payable	76.18	83.4	93.61	76.05	74.07	65.96	Upgrade
Accrued Expenses	16.53	20.44	24.22	31.83	27.92	24.54	Upgrade
Short-Term Debt	70	40.04	280.32	280.36	145.18	-	Upgrade
Current Portion of Leases	-	1.26	2.41	-	0.56	-	Upgrade
Current Income Taxes Payable	10.72	44.31	2.93	2.3	-	1.94	Upgrade
Current Unearned Revenue	48.56	56.31	53.54	58	47.6	46.65	Upgrade
Other Current Liabilities	42.88	37.92	62.56	27.15	21.19	21.44	Upgrade
Total Current Liabilities	264.87	283.67	519.58	475.67	316.53	160.53	Upgrade
Long-Term Leases	2.11	0.76	1.07	-	1.86	-	Upgrade
Long-Term Unearned Revenue	30.48	27.39	23.97	26.54	23.39	26.48	Upgrade
Long-Term Deferred Tax Liabilities	-	0.09	0.59	-	-	-	Upgrade
Total Liabilities	297.46	311.91	545.21	502.22	341.79	187.01	Upgrade
Common Stock	240	240	240	240	240	240	Upgrade
Additional Paid-In Capital	406.13	406.13	406.13	406.13	406.13	406.13	Upgrade
Retained Earnings	632.44	615.19	538.55	435.41	357.76	300.7	Upgrade
Comprehensive Income & Other	-0.06	0.03	-	-	-	-	Upgrade
Total Common Equity	1,279	1,261	1,185	1,082	1,004	946.83	Upgrade
Minority Interest	-1.11	-	-5.1	-0.67	-	-	Upgrade
Shareholders' Equity	1,277	1,261	1,180	1,081	1,004	946.83	Upgrade
Total Liabilities & Equity	1,575	1,573	1,725	1,583	1,346	1,134	Upgrade
Total Debt	72.11	42.06	283.8	280.36	147.61	-	Upgrade
Net Cash (Debt)	556.99	447.16	367.57	376.95	261.73	442.67	Upgrade
Net Cash Growth	50.80%	21.65%	-2.49%	44.02%	-40.88%	131.86%	Upgrade
Net Cash Per Share	2.33	1.87	1.55	1.59	1.11	2.14	Upgrade
Filing Date Shares Outstanding	240	240	240	240	240	240	Upgrade
Total Common Shares Outstanding	240	240	240	240	240	240	Upgrade
Working Capital	662.46	391.06	342.64	396.39	282.56	438.76	Upgrade
Book Value Per Share	5.33	5.26	4.94	4.51	4.18	3.95	Upgrade
Tangible Book Value	1,181	1,180	1,114	1,023	944.28	882.98	Upgrade
Tangible Book Value Per Share	4.92	4.92	4.64	4.26	3.93	3.68	Upgrade
Buildings	-	280.15	244.15	225.24	226.77	225.93	Upgrade
Machinery	-	211.12	289.9	249.58	245.49	225.05	Upgrade
Construction In Progress	-	53.35	45.3	8.06	2.95	3.52	Upgrade

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