SHE:300857 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	2,379	1,527	1,817	551.63	472.46
Trading Asset Securities	-	50.02	0.76	-	0.19
Cash & Short-Term Investments	2,379	1,577	1,818	551.63	472.65
Cash Growth	50.82%	-13.21%	229.48%	16.71%	-16.30%
Accounts Receivable	2,743	2,007	929.64	703.42	673.61
Other Receivables	5.41	7.38	23.19	0.87	42.15
Receivables	2,748	2,014	952.83	704.29	715.75
Inventory	2,877	1,890	1,315	830.18	640.88
Other Current Assets	2,056	339.02	281.41	164.82	133.99
Total Current Assets	10,060	5,821	4,367	2,251	1,963
Property, Plant & Equipment	12,660	747.29	465.74	412.61	401.86
Long-Term Investments	89.71	90.21	103.31	74.1	-
Goodwill	-	-	-	-	3.46
Other Intangible Assets	44.88	46.74	26.99	23.36	21.7
Long-Term Accounts Receivable	5.82	63.67	47.61	-	-
Long-Term Deferred Tax Assets	161.86	117.53	38.37	33.57	26.11
Long-Term Deferred Charges	20.99	24.72	18.11	12.6	15.75
Other Long-Term Assets	754.47	393.24	38.89	7.2	41.04
Total Assets	23,798	7,305	5,106	2,814	2,473
Accounts Payable	2,128	1,564	1,543	764.38	729.11
Accrued Expenses	41.64	33.09	34.58	25.4	18.57
Short-Term Debt	5,173	1,302	858.75	410.2	320.83
Current Portion of Long-Term Debt	2,479	209.4	90.48	60.62	-
Current Portion of Leases	790.35	84.64	19.99	12.72	10.28
Current Income Taxes Payable	107.37	89.54	10.75	0	5.4
Current Unearned Revenue	200.22	20.99	13.93	7.49	5.79
Other Current Liabilities	15.74	42.23	3.31	2.31	9.26
Total Current Liabilities	10,936	3,345	2,575	1,283	1,099
Long-Term Debt	7,483	409.83	19.68	11.19	-
Long-Term Leases	918.63	247.11	25.43	26.29	33.84
Long-Term Unearned Revenue	28.67	35.04	42.57	51.1	44.48
Long-Term Deferred Tax Liabilities	8.45	13.13	12.74	10.42	0.04
Other Long-Term Liabilities	16.71	15.45	-	-	-
Total Liabilities	19,391	4,066	2,675	1,382	1,178
Common Stock	346.12	245.26	243.8	206.56	206.56
Additional Paid-In Capital	1,442	1,454	1,336	647.17	639.93
Retained Earnings	2,596	1,503	838.51	565.86	449.41
Comprehensive Income & Other	7.36	11.21	6.85	5.73	-2.38
Total Common Equity	4,391	3,213	2,425	1,425	1,294
Minority Interest	16.12	25.39	5.81	6.96	2.08
Shareholders' Equity	4,407	3,239	2,431	1,432	1,296
Total Liabilities & Equity	23,798	7,305	5,106	2,814	2,473
Total Debt	16,845	2,253	1,014	521.01	364.95
Net Cash (Debt)	-14,466	-675.54	803.21	30.62	107.71
Net Cash Growth	-	-	2523.18%	-71.57%	-60.88%
Net Cash Per Share	-41.99	-1.97	2.46	0.11	0.37
Filing Date Shares Outstanding	346.12	343.36	341.32	341.32	289.18
Total Common Shares Outstanding	346.12	343.36	341.32	289.18	289.18
Working Capital	-875.51	2,476	1,792	967.8	864.03
Book Value Per Share	12.69	9.36	7.11	4.93	4.47
Tangible Book Value	4,346	3,166	2,398	1,402	1,268
Tangible Book Value Per Share	12.56	9.22	7.03	4.85	4.39
Land	14.02	13.18	8.46	-	-
Buildings	298.53	136.19	135.92	133.15	133.15
Machinery	9,836	702.03	455.97	395.04	338.44
Construction In Progress	3,347	159.68	43.74	10.59	5.95

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.