SHE:301049 Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	17.77	29.48	67.74	145.73	401.63	64.08
Cash & Short-Term Investments	17.77	29.48	67.74	145.73	401.63	64.08
Cash Growth	-40.55%	-56.48%	-53.52%	-63.71%	526.71%	82.06%
Accounts Receivable	154.81	190.9	194.74	176.89	183.73	271.38
Other Receivables	5.51	6.17	4.85	7.65	2.15	0.8
Receivables	160.32	197.07	199.59	184.54	185.88	272.19
Inventory	23.06	13.64	21.97	9.36	9.75	9.84
Other Current Assets	36.64	44	32.69	47.53	28.06	12.43
Total Current Assets	237.78	284.19	321.99	387.17	625.31	358.55
Property, Plant & Equipment	755.62	772.15	715.9	630.4	392.19	211.79
Other Intangible Assets	124.89	127.02	101.19	103.23	31.66	32.32
Long-Term Deferred Tax Assets	1.26	1.26	1.46	8.36	2.55	3.24
Long-Term Deferred Charges	5.02	3.96	5.6	3.22	1.2	0.51
Other Long-Term Assets	93.96	69.6	101.89	51.43	49.87	47.5
Total Assets	1,219	1,258	1,248	1,184	1,103	653.89
Accounts Payable	210.12	161.65	131.06	126	76.08	63.67
Accrued Expenses	16.59	13.47	13.51	7.64	6.28	7.03
Short-Term Debt	97.57	89.16	69.72	30.03	10.01	32.04
Current Portion of Long-Term Debt	40.22	28.31	23.27	6.08	8	-
Current Portion of Leases	-	-	0.45	8.4	16.01	11.77
Current Income Taxes Payable	3.71	1.29	1.29	1.29	5.54	9.67
Current Unearned Revenue	23.94	21.06	18.55	7.66	12.91	54.51
Other Current Liabilities	35.49	29.65	6.36	6.55	8.43	4.06
Total Current Liabilities	427.64	344.6	264.22	193.64	143.25	182.75
Long-Term Debt	39.49	72.99	92	19.2	22.04	-
Long-Term Leases	-	-	0.47	-	8.39	24.25
Long-Term Unearned Revenue	55.92	58.76	41.84	23.34	4.02	3.15
Long-Term Deferred Tax Liabilities	-	-	0.2	-	-	-
Other Long-Term Liabilities	84.55	82.33	79.37	76.48	10.25	3
Total Liabilities	607.59	558.69	478.11	312.67	187.95	213.15
Common Stock	94.25	94.25	94.25	94.25	94.25	70.69
Additional Paid-In Capital	543.24	543.24	543.24	543.24	543.24	180.38
Retained Earnings	-54.31	33.51	102.85	222.66	267.85	182.18
Comprehensive Income & Other	14.31	13.06	12.15	10.98	9.49	7.49
Total Common Equity	597.49	684.07	752.5	871.14	914.84	440.74
Minority Interest	13.42	15.42	17.43	-	-	-
Shareholders' Equity	610.92	699.49	769.93	871.14	914.84	440.74
Total Liabilities & Equity	1,219	1,258	1,248	1,184	1,103	653.89
Total Debt	177.27	190.47	185.93	63.71	64.45	68.05
Net Cash (Debt)	-159.51	-160.99	-118.19	82.03	337.17	-3.97
Net Cash Growth	-	-	-	-75.67%	-	-
Net Cash Per Share	-1.70	-1.72	-1.25	0.87	4.29	-0.06
Filing Date Shares Outstanding	94.25	94.25	94.25	94.25	94.25	70.69
Total Common Shares Outstanding	94.25	94.25	94.25	94.25	94.25	70.69
Working Capital	-189.86	-60.4	57.77	193.52	482.06	175.79
Book Value Per Share	6.34	7.26	7.98	9.24	9.71	6.23
Tangible Book Value	472.61	557.05	651.31	767.91	883.18	408.43
Tangible Book Value Per Share	5.01	5.91	6.91	8.15	9.37	5.78
Buildings	-	516.52	484.73	344.12	161.45	105.05
Machinery	-	283.09	274.7	260.59	153.89	121.57
Construction In Progress	-	181.35	110.02	127.03	156.05	47.79

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.