Shenzhen SDG Service 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	255.07	233.92	584.97	744.86	554.76	317.15
Short-Term Investments	-	32.37	533.49	343.27	110.79	50
Trading Asset Securities	954.38	1,087	83.19	35.06	265.95	476.57
Cash & Short-Term Investments	1,209	1,353	1,202	1,123	931.49	843.72
Cash Growth	75.23%	12.61%	6.98%	20.58%	10.40%	17.64%
Accounts Receivable	753.03	600.12	527.97	416.94	455.21	383
Other Receivables	54.15	46.25	44.17	55.37	22.56	18.77
Receivables	807.18	646.37	572.14	472.31	477.77	401.77
Inventory	4.38	4.32	5.34	4.8	4.75	4.21
Prepaid Expenses	22.41	0.49	0.11	1.51	0	0.08
Other Current Assets	0.49	28.05	12.74	10.89	12.95	5.78
Total Current Assets	2,044	2,032	1,792	1,613	1,427	1,256
Property, Plant & Equipment	40.08	44.08	64.29	80.15	37.04	33.67
Long-Term Investments	17.34	14.89	12.91	8.24	5.63	4.31
Goodwill	21.55	21.55	21.55	19.28	-	-
Other Intangible Assets	6.97	7.3	7.2	6.78	4.17	2.37
Long-Term Deferred Tax Assets	16.61	15.61	9.71	9.82	9.88	8.11
Long-Term Deferred Charges	5.21	5.44	6.26	7.38	4.11	3.46
Other Long-Term Assets	43.18	43.81	46.32	48.83	50.63	53.11
Total Assets	2,195	2,185	1,960	1,793	1,538	1,361
Accounts Payable	385.45	386.83	317.89	232.79	179.42	151.53
Accrued Expenses	160.04	215.31	207.18	214.84	200.28	174.95
Short-Term Debt	77.97	58.09	-	-	-	-
Current Portion of Leases	-	12.77	14.18	12.56	9.01	6.3
Current Income Taxes Payable	33.78	11.95	17.77	12.5	13.62	14.96
Current Unearned Revenue	24.23	39.55	31.89	48.92	49.43	39.43
Other Current Liabilities	153.68	137.28	130.94	115.07	99.14	73.71
Total Current Liabilities	835.16	861.78	719.84	636.68	550.91	460.88
Long-Term Leases	9.08	7.28	14.28	21.48	14.56	15.54
Long-Term Unearned Revenue	-	1.73	2.77	3.81	4.84	5.88
Long-Term Deferred Tax Liabilities	1.22	1.61	3.32	2.87	-	-
Other Long-Term Liabilities	1.64	0.35	-	-	-	-
Total Liabilities	847.1	872.74	740.2	664.83	570.31	482.3
Common Stock	169	169	169	169	169	130
Additional Paid-In Capital	390.62	390.62	390.62	390.62	390.62	429.62
Retained Earnings	668.89	636.08	554.45	470	383.65	301.43
Comprehensive Income & Other	-0.21	-0.17	-0.12	-0.07	-0.06	-0.1
Total Common Equity	1,228	1,196	1,114	1,030	943.2	860.95
Minority Interest	119.45	116.77	106.04	98.8	24.9	17.33
Shareholders' Equity	1,348	1,312	1,220	1,128	968.11	878.28
Total Liabilities & Equity	2,195	2,185	1,960	1,793	1,538	1,361
Total Debt	87.05	78.14	28.46	34.04	23.57	21.84
Net Cash (Debt)	1,122	1,275	1,173	1,089	907.92	821.88
Net Cash Growth	69.60%	8.68%	7.71%	19.96%	10.47%	14.59%
Net Cash Per Share	6.64	7.54	6.94	6.44	5.41	4.83
Filing Date Shares Outstanding	169.04	169	169	169	169	169
Total Common Shares Outstanding	169.04	169	169	169	169	169
Working Capital	1,209	1,171	1,072	976.02	876.05	794.67
Book Value Per Share	7.27	7.07	6.59	6.09	5.58	5.09
Tangible Book Value	1,200	1,167	1,085	1,003	939.04	858.58
Tangible Book Value Per Share	7.10	6.90	6.42	5.94	5.56	5.08
Buildings	-	20.31	20.48	20.48	2.13	2.13
Machinery	-	108.73	117.42	114.68	32.91	25.79

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