Pony Testing 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	Dec '21 Dec 31, 2021
Cash & Equivalents	441.39	631.89	700.2	619.77	754.5	513.05
Trading Asset Securities	393	280	275	565.04	825.07	-
Cash & Short-Term Investments	834.39	911.89	975.2	1,185	1,580	513.05
Cash Growth	-13.70%	-6.49%	-17.69%	-24.99%	207.88%	-36.65%
Accounts Receivable	607.1	611.81	836.11	1,006	1,102	784.8
Other Receivables	23.66	21.38	21.88	34.44	45.65	38.75
Receivables	630.76	633.18	857.98	1,041	1,148	823.55
Inventory	41.98	39.6	25.56	27.73	42.09	25.1
Other Current Assets	63.09	60.83	63.87	54.01	49.97	72.45
Total Current Assets	1,570	1,646	1,923	2,307	2,819	1,434
Property, Plant & Equipment	1,328	1,339	1,396	1,394	1,401	1,083
Goodwill	42.9	42.9	73.11	79.27	59.93	29.22
Other Intangible Assets	135.32	137.39	257.07	266.73	117.45	101.71
Long-Term Deferred Tax Assets	109.21	109.92	90.73	64.33	17.05	21.2
Long-Term Deferred Charges	73.56	77.49	89.13	108.43	52.7	43.38
Other Long-Term Assets	18.66	11.36	14.56	118.18	88	68.29
Total Assets	3,278	3,364	3,844	4,338	4,556	2,781
Accounts Payable	155.08	157.99	164.7	176.03	264.96	140.66
Accrued Expenses	63.55	86.19	97.73	118.38	145.47	88.67
Short-Term Debt	24.95	40.47	167.22	167.12	99.4	215.1
Current Portion of Long-Term Debt	23.63	0.03	-	-	-	-
Current Portion of Leases	-	25.54	30.64	37.44	36.98	31.27
Current Income Taxes Payable	20.8	6.17	8.05	25.96	25.16	24.65
Current Unearned Revenue	83.48	83.03	117.88	124.62	190.4	106.17
Other Current Liabilities	38.12	50.94	120.54	117.03	124.15	72.34
Total Current Liabilities	409.62	450.36	706.75	766.59	886.52	678.86
Long-Term Debt	36.45	28.35	-	-	-	-
Long-Term Leases	57.73	42.33	47.37	78.83	91.14	50
Long-Term Unearned Revenue	8.03	5.58	5.64	11.18	15.82	19.34
Long-Term Deferred Tax Liabilities	1.3	1.38	2.42	14.04	9.69	12.49
Total Liabilities	513.12	527.99	762.19	870.63	1,003	760.68
Common Stock	545.74	545.74	545.76	546.08	287.01	137.02
Additional Paid-In Capital	1,575	1,575	1,577	1,580	1,832	720.07
Retained Earnings	631.11	700.55	946.52	1,336	1,429	1,171
Treasury Stock	-0.04	-0.04	-0.73	-5.95	-8.5	-8.03
Comprehensive Income & Other	-0.1	-0.05	-0.02	-0.01	-0	0.07
Total Common Equity	2,752	2,821	3,069	3,456	3,540	2,020
Minority Interest	12.9	14.77	12.85	11.82	12.72	-
Shareholders' Equity	2,764	2,836	3,081	3,467	3,552	2,020
Total Liabilities & Equity	3,278	3,364	3,844	4,338	4,556	2,781
Total Debt	142.76	136.71	245.23	283.39	227.52	296.36
Net Cash (Debt)	691.63	775.17	729.97	901.42	1,352	216.69
Net Cash Growth	-5.52%	6.19%	-19.02%	-33.33%	523.96%	-73.25%
Net Cash Per Share	1.27	1.42	1.34	1.65	2.57	0.46
Filing Date Shares Outstanding	545.86	545.74	545.76	546.08	545.33	468.61
Total Common Shares Outstanding	545.86	545.74	545.76	546.08	545.33	468.61
Working Capital	1,161	1,195	1,216	1,541	1,933	755.29
Book Value Per Share	5.04	5.17	5.62	6.33	6.49	4.31
Tangible Book Value	2,573	2,641	2,738	3,110	3,362	1,889
Tangible Book Value Per Share	4.71	4.84	5.02	5.69	6.17	4.03
Buildings	-	803.88	731.44	440.77	411.89	405.65
Machinery	-	1,719	1,689	1,646	1,529	1,213
Construction In Progress	-	70.5	73.25	221.07	192.01	55.86

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