Qingdao Kutesmart 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	380.91	461.18	258.85	621.34	517.82	96.94
Trading Asset Securities	160.4	90.14	230.37	30.02	139.49	312.4
Cash & Short-Term Investments	541.31	551.33	489.22	651.37	657.31	409.34
Cash Growth	18.37%	12.70%	-24.89%	-0.90%	60.58%	-7.53%
Accounts Receivable	52.72	56.13	85.62	68.63	59.1	46.53
Other Receivables	117.31	117.41	10.62	9.68	9.02	7.09
Receivables	170.03	173.54	96.24	78.32	68.12	53.62
Inventory	91.02	88.26	70.78	112.41	138.98	122.76
Prepaid Expenses	-	-	-	0.13	2.28	0.06
Other Current Assets	29.9	26.28	18.49	20.01	5.38	13.32
Total Current Assets	832.26	839.4	674.73	862.22	872.06	599.1
Property, Plant & Equipment	416.42	409.88	346.26	383.07	313.6	339.12
Long-Term Investments	20.22	10.44	329.23	214.54	205.22	230.04
Goodwill	17.79	17.79	-	-	-	-
Other Intangible Assets	116.5	118.72	81.53	70.59	58.38	59.62
Long-Term Deferred Tax Assets	15.74	15.48	14.56	11.23	7.48	5.81
Long-Term Deferred Charges	34.4	30.92	26.93	3.69	1.58	1.75
Other Long-Term Assets	85.43	79.4	100.03	179.46	124.77	110.25
Total Assets	1,539	1,522	1,573	1,725	1,583	1,346
Accounts Payable	70.15	79.92	83.4	93.61	76.05	74.07
Accrued Expenses	18.4	22.15	20.44	24.22	31.83	27.92
Short-Term Debt	-	-	40.04	280.32	280.36	145.18
Current Portion of Leases	4.15	2.32	1.26	2.41	-	0.56
Current Income Taxes Payable	15.16	10.01	44.31	2.93	2.3	-
Current Unearned Revenue	54.97	52.57	56.31	53.54	58	47.6
Other Current Liabilities	45.29	42.94	37.92	62.56	27.15	21.19
Total Current Liabilities	208.13	209.91	283.67	519.58	475.67	316.53
Long-Term Leases	8.66	6.82	0.76	1.07	-	1.86
Long-Term Unearned Revenue	35.35	29.52	27.39	23.97	26.54	23.39
Long-Term Deferred Tax Liabilities	1.36	1.68	0.09	0.59	-	-
Total Liabilities	253.5	247.93	311.91	545.21	502.22	341.79
Common Stock	240	240	240	240	240	240
Additional Paid-In Capital	405.99	405.99	406.13	406.13	406.13	406.13
Retained Earnings	640.36	628.36	615.19	538.55	435.41	357.76
Comprehensive Income & Other	-1.8	-0.67	0.03	-	-	-
Total Common Equity	1,285	1,274	1,261	1,185	1,082	1,004
Minority Interest	0.72	0.44	-	-5.1	-0.67	-
Shareholders' Equity	1,285	1,274	1,261	1,180	1,081	1,004
Total Liabilities & Equity	1,539	1,522	1,573	1,725	1,583	1,346
Total Debt	12.81	9.14	42.06	283.8	280.36	147.61
Net Cash (Debt)	528.5	542.19	447.16	367.57	376.95	261.73
Net Cash Growth	21.19%	21.25%	21.65%	-2.49%	44.02%	-40.88%
Net Cash Per Share	2.15	2.19	1.87	1.55	1.59	1.11
Filing Date Shares Outstanding	240	240	240	240	240	240
Total Common Shares Outstanding	240	240	240	240	240	240
Working Capital	624.14	629.49	391.06	342.64	396.39	282.56
Book Value Per Share	5.35	5.31	5.26	4.94	4.51	4.18
Tangible Book Value	1,150	1,137	1,180	1,114	1,023	944.28
Tangible Book Value Per Share	4.79	4.74	4.92	4.64	4.26	3.93
Buildings	-	375.87	280.15	244.15	225.24	226.77
Machinery	-	233.51	211.12	289.9	249.58	245.49
Construction In Progress	-	20.46	53.35	45.3	8.06	2.95

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