SHE:301073 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	295.11	338.47	397.39	487.05	678.1	222.36
Short-Term Investments	-	-	20.89	25	31.95	28.41
Trading Asset Securities	75.18	20	20.28	-	2.01	76.7
Cash & Short-Term Investments	370.29	358.47	438.57	512.05	712.06	327.48
Cash Growth	-10.95%	-18.26%	-14.35%	-28.09%	117.44%	157.25%
Accounts Receivable	82.12	77.53	75.26	79.52	85.72	43.78
Other Receivables	28.26	32.49	0.96	0.56	0.01	0.01
Receivables	110.38	110.02	76.21	80.08	85.74	43.79
Inventory	3.39	3.34	4.66	6.67	0.89	0.93
Prepaid Expenses	-	-	-	-	1.08	0.06
Other Current Assets	24.82	32.89	49.62	51.44	24.32	23.47
Total Current Assets	508.88	504.72	569.07	650.24	824.09	395.72
Property, Plant & Equipment	1,131	1,164	1,317	1,217	613.92	526.18
Long-Term Investments	20.15	20.16	7.37	9.15	6.41	0.19
Goodwill	108.77	108.77	108.77	108.77	108.77	31.86
Other Intangible Assets	61.62	61.7	62.02	61.92	62.38	1.55
Long-Term Accounts Receivable	-	-	93.09	83.57	221.63	231.05
Long-Term Deferred Tax Assets	84.82	81.62	71.87	61.24	48.74	41.08
Long-Term Deferred Charges	268.34	281.47	315.89	230.47	134.51	113.38
Other Long-Term Assets	111.15	115.37	2.59	2.19	1.77	31.76
Total Assets	2,295	2,338	2,547	2,425	2,022	1,373
Accounts Payable	40.26	35.39	54.91	57.96	28.4	14.22
Accrued Expenses	12.64	16.86	46.32	43.38	37.94	15.17
Short-Term Debt	-	-	11.12	14.35	22.02	22.87
Current Portion of Long-Term Debt	135.22	119.84	-	-	-	-
Current Portion of Leases	-	-	117.58	110.8	90.06	76.67
Current Income Taxes Payable	14.18	18	8.28	15.48	4.89	11.44
Current Unearned Revenue	17.25	16.76	34.91	50.21	46.63	8.67
Other Current Liabilities	61.53	86.09	10.16	13.6	9.19	9.06
Total Current Liabilities	281.08	292.95	283.27	305.77	239.13	158.1
Long-Term Leases	1,128	1,166	1,281	1,130	807.04	728.88
Long-Term Unearned Revenue	10.26	11.33	9.65	12.15	14.63	17.14
Long-Term Deferred Tax Liabilities	1.38	1.38	1.07	1.17	1.54	-
Other Long-Term Liabilities	2.48	2.48	-	-	-	-
Total Liabilities	1,423	1,474	1,575	1,449	1,062	904.12
Common Stock	194.45	194.45	194.45	194.45	129.63	80.54
Additional Paid-In Capital	496.73	496.75	571.07	571.07	635.88	187.31
Retained Earnings	194.5	187.79	208.45	212.42	207.83	218.35
Comprehensive Income & Other	0.02	0.02	-	-	-	-
Total Common Equity	885.7	879	973.97	977.94	973.35	486.2
Minority Interest	-13.99	-15.52	-1.4	-2.08	-13.48	-17.57
Shareholders' Equity	871.71	863.48	972.57	975.86	959.87	468.63
Total Liabilities & Equity	2,295	2,338	2,547	2,425	2,022	1,373
Total Debt	1,263	1,286	1,409	1,255	919.12	828.43
Net Cash (Debt)	-892.54	-927.55	-970.9	-742.95	-207.06	-500.95
Net Cash Per Share	-5.04	-4.82	-5.01	-3.89	-1.25	-3.44
Filing Date Shares Outstanding	223.99	175.29	194.45	194.45	194.45	181.22
Total Common Shares Outstanding	223.99	175.29	194.45	194.45	194.45	181.22
Working Capital	227.8	211.77	285.8	344.47	584.96	237.62
Book Value Per Share	3.95	5.01	5.01	5.03	5.01	2.68
Tangible Book Value	715.32	708.53	803.18	807.25	802.2	452.8
Tangible Book Value Per Share	3.19	4.04	4.13	4.15	4.13	2.50
Machinery	-	-	70.76	60.67	50.66	43.68
Construction In Progress	-	-	18.28	78.7	15.02	27.46

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