SHE:301175 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	1,036	1,066	1,023	992.38	1,756	562.29
Accounts Receivable	837.58	790.1	667.41	607.45	445.98	378.86
Other Receivables	36.88	188.19	153.77	162.72	158.64	121.91
Inventory	135.58	124.82	89.84	136.15	48.57	72.39
Prepaid Expenses	-	-	-	-	2.41	1.51
Other Current Assets	324.36	128.11	55.8	17.82	15.92	9.11
Total Current Assets	2,370	2,298	1,990	1,917	2,428	1,146
Property, Plant & Equipment	1,369	1,248	1,223	1,081	986.92	984.38
Other Intangible Assets	4,761	4,650	4,073	3,929	2,986	2,356
Long-Term Deferred Tax Assets	87.82	100.18	76.02	67.59	53.64	42.85
Long-Term Deferred Charges	64.12	61.11	39.08	28.7	20.37	7.51
Other Long-Term Assets	150.47	212.53	88.35	129.64	23.24	20.56
Total Assets	8,803	8,570	7,490	7,152	6,498	4,557
Accounts Payable	532.85	634.56	530.32	552.51	465.38	387.74
Accrued Expenses	51.85	80.75	71.34	65.47	69.6	59.98
Short-Term Debt	170.86	489.37	104.44	216.96	257.21	147.27
Current Portion of Long-Term Debt	393.02	323.19	187.01	110.22	124.74	116.24
Current Unearned Revenue	222.86	162.25	97.77	62.35	82.98	24.31
Current Portion of Leases	-	1.01	1.64	1.97	4.49	4.8
Current Income Taxes Payable	28.47	14.36	9.84	6.23	13.8	14.35
Other Current Liabilities	569.06	171.79	129.21	122.09	65.41	200.56
Total Current Liabilities	1,969	1,877	1,132	1,138	1,084	955.25
Long-Term Debt	2,368	2,239	2,073	1,893	1,719	1,539
Long-Term Leases	0.74	0.72	0.82	1.15	12.13	2.58
Long-Term Unearned Revenue	138.38	139.68	111.76	113.67	117.06	101.21
Long-Term Deferred Tax Liabilities	37.43	51.51	30.79	27.79	10.48	4.32
Other Long-Term Liabilities	180.38	176.9	229.39	280.16	106.5	94.99
Total Liabilities	4,694	4,485	3,577	3,454	3,049	2,697
Common Stock	1,472	1,472	1,472	1,472	1,472	1,105
Additional Paid-In Capital	1,163	1,156	1,129	1,127	1,126	140.93
Retained Earnings	1,157	1,071	976.18	802.67	613.95	401.81
Comprehensive Income & Other	6.73	6.44	3.85	3.07	0.23	-
Total Common Equity	3,798	3,705	3,581	3,404	3,212	1,647
Minority Interest	310.54	379.9	331.82	293.62	237.48	212.63
Shareholders' Equity	4,109	4,085	3,913	3,698	3,449	1,860
Total Liabilities & Equity	8,803	8,570	7,490	7,152	6,498	4,557
Total Debt	2,932	3,053	2,367	2,224	2,117	1,810
Net Cash (Debt)	-1,897	-1,987	-1,344	-1,231	-361.03	-1,248
Net Cash Per Share	-1.29	-1.35	-0.92	-0.82	-0.29	-1.15
Filing Date Shares Outstanding	1,473	1,472	1,472	1,472	1,472	1,105
Total Common Shares Outstanding	1,473	1,472	1,472	1,472	1,472	1,105
Working Capital	401.08	420.25	858.56	778.71	1,344	190.82
Book Value Per Share	2.58	2.52	2.43	2.31	2.18	1.49
Tangible Book Value	-962.42	-945.16	-492.56	-524.12	225.98	-708.6
Tangible Book Value Per Share	-0.65	-0.64	-0.33	-0.36	0.15	-0.64
Buildings	-	909.68	847.87	584.83	570.91	552.1
Machinery	-	815.12	793.91	746.67	723.22	696.66
Construction In Progress	-	78.97	49.96	152.72	20.15	10.6

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