Qingdao Kutesmart Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	461.18	258.85	621.34	517.82	96.94
Trading Asset Securities	90.14	230.37	30.02	139.49	312.4
Cash & Short-Term Investments	551.33	489.22	651.37	657.31	409.34
Cash Growth	12.70%	-24.89%	-0.90%	60.58%	-7.53%
Accounts Receivable	56.12	85.62	68.63	59.1	46.53
Other Receivables	117.41	10.62	9.68	9.02	7.09
Receivables	173.54	96.24	78.32	68.12	53.62
Inventory	88.26	70.78	112.41	138.98	122.76
Prepaid Expenses	-	-	0.13	2.28	0.06
Other Current Assets	26.28	18.49	20.01	5.38	13.32
Total Current Assets	839.4	674.73	862.22	872.06	599.1
Property, Plant & Equipment	409.88	346.26	383.07	313.6	339.12
Long-Term Investments	10.44	325.63	214.54	205.22	230.04
Goodwill	17.79	-	-	-	-
Other Intangible Assets	118.72	81.53	70.59	58.38	59.62
Long-Term Deferred Tax Assets	15.48	14.56	11.23	7.48	5.81
Long-Term Deferred Charges	30.92	26.93	3.69	1.58	1.75
Other Long-Term Assets	79.4	103.63	179.46	124.77	110.25
Total Assets	1,522	1,573	1,725	1,583	1,346
Accounts Payable	79.92	83.4	93.61	76.05	74.07
Accrued Expenses	20.32	20.44	24.22	31.83	27.92
Short-Term Debt	-	40.04	280.32	280.36	145.18
Current Portion of Long-Term Debt	2.32	-	-	-	-
Current Portion of Leases	-	1.26	2.41	-	0.56
Current Income Taxes Payable	11.81	44.31	2.93	2.3	-
Current Unearned Revenue	51.29	56.31	53.54	58	47.6
Other Current Liabilities	44.25	37.92	62.56	27.15	21.19
Total Current Liabilities	209.91	283.67	519.58	475.67	316.53
Long-Term Leases	6.82	0.76	1.07	-	1.86
Long-Term Unearned Revenue	29.52	27.39	23.97	26.54	23.39
Long-Term Deferred Tax Liabilities	1.68	0.09	0.59	-	-
Total Liabilities	247.93	311.91	545.21	502.22	341.79
Common Stock	240	240	240	240	240
Additional Paid-In Capital	405.99	406.13	406.13	406.13	406.13
Retained Earnings	628.36	615.19	538.55	435.41	357.76
Comprehensive Income & Other	-0.67	0.03	-	-	-
Total Common Equity	1,274	1,261	1,185	1,082	1,004
Minority Interest	0.44	-	-5.1	-0.67	-
Shareholders' Equity	1,274	1,261	1,180	1,081	1,004
Total Liabilities & Equity	1,522	1,573	1,725	1,583	1,346
Total Debt	9.14	42.06	283.8	280.36	147.61
Net Cash (Debt)	542.19	447.16	367.57	376.95	261.73
Net Cash Growth	21.25%	21.65%	-2.49%	44.02%	-40.88%
Net Cash Per Share	2.19	1.87	1.55	1.59	1.11
Filing Date Shares Outstanding	271.29	240	240	240	240
Total Common Shares Outstanding	271.29	240	240	240	240
Working Capital	629.49	391.06	342.64	396.39	282.56
Book Value Per Share	4.69	5.26	4.94	4.51	4.18
Tangible Book Value	1,137	1,180	1,114	1,023	944.28
Tangible Book Value Per Share	4.19	4.92	4.64	4.26	3.93
Buildings	-	280.15	244.15	225.24	226.77
Machinery	-	211.12	289.9	249.58	245.49
Construction In Progress	-	53.35	45.3	8.06	2.95

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