SHE:301109 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	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	1,448	1,457	870.28	1,038	779.22	649.77
Short-Term Investments	-	137.65	30	30	-	-
Trading Asset Securities	1,011	547.27	814.07	1,673	-	-
Accounts Receivable	2,016	1,829	803.73	600.02	330.96	222.61
Other Receivables	6.55	25.41	17.29	16.98	13.84	23.81
Inventory	42.35	36.29	28.05	19.07	15.91	5.99
Other Current Assets	629.32	173.9	249.45	133.94	148.27	98.09
Total Current Assets	5,153	4,207	2,813	3,510	1,288	1,000
Property, Plant & Equipment	1,085	694.01	59.13	41.69	26.26	2,057
Goodwill	145.87	145.87	-	-	-	-
Other Intangible Assets	7,851	8,039	5,811	5,714	5,839	3,022
Long-Term Investments	32.44	480.73	601.56	222.53	-	-
Long-Term Deferred Tax Assets	113.66	109.74	73.45	58.44	40.32	33.38
Long-Term Deferred Charges	86.15	97.48	3.73	3.72	5.11	6.51
Other Long-Term Assets	206.55	268.8	292.51	227.23	274.28	209.43
Total Assets	14,673	14,043	9,654	9,778	7,473	6,329
Accounts Payable	432.92	429.9	291.11	403.95	694.34	781.87
Accrued Expenses	43.49	74.19	57.4	48.47	40.12	40.37
Short-Term Debt	-	-	-	-	71.93	-
Current Portion of Long-Term Debt	475.65	482.4	490.87	383.8	334.7	176.4
Current Unearned Revenue	9.89	6	0.28	0.27	0.31	0.29
Current Portion of Leases	-	0.56	1	0.22	0.22	-
Current Income Taxes Payable	65.78	53.57	22.08	15.39	10.84	12.4
Other Current Liabilities	93.73	757.9	75.59	57.35	78.97	22.55
Total Current Liabilities	1,121	1,805	938.32	909.45	1,231	1,034
Long-Term Debt	2,740	2,404	2,155	2,564	2,801	2,631
Long-Term Leases	7.36	7.22	9.17	8.1	8.1	-
Long-Term Deferred Tax Liabilities	263.14	285.91	52.58	48.1	37.04	32.05
Other Long-Term Liabilities	1,080	940.35	769.86	708.97	607.48	376.34
Total Liabilities	5,212	5,442	3,925	4,238	4,685	4,074
Common Stock	789.1	515.63	410.01	410.01	205	205
Additional Paid-In Capital	4,463	3,990	2,554	2,547	474.57	453.76
Retained Earnings	2,447	2,349	2,181	2,036	1,674	1,227
Comprehensive Income & Other	-4.72	0.35	-	-	-	-
Total Common Equity	7,643	6,855	5,146	4,993	2,354	1,886
Minority Interest	1,818	1,746	583.61	546.32	434.06	369.32
Shareholders' Equity	9,461	8,601	5,729	5,540	2,788	2,255
Total Liabilities & Equity	14,673	14,043	9,654	9,778	7,473	6,329
Total Debt	3,223	2,894	2,656	2,956	3,216	2,808
Net Cash (Debt)	-764	-751.57	-942.08	-215.39	-2,437	-2,158
Net Cash Per Share	-1.05	-1.31	-1.64	-0.41	-5.66	-5.01
Filing Date Shares Outstanding	785.5	789.1	574.01	574.01	430.5	430.5
Total Common Shares Outstanding	785.5	721.88	574.01	574.01	430.5	430.5
Working Capital	4,032	2,403	1,875	2,601	56.77	-33.61
Book Value Per Share	9.73	9.50	8.96	8.70	5.47	4.38
Tangible Book Value	-353.66	-1,330	-665.69	-720.58	-3,485	-1,136
Tangible Book Value Per Share	-0.45	-1.84	-1.16	-1.26	-8.10	-2.64
Buildings	-	501.31	-	-	-	-
Machinery	-	586.61	59.46	52.12	47.71	43.96
Construction In Progress	-	106.38	32.12	19.95	5.27	2,045

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