ValueHD 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	592.35	694.53	514.03	564.78	415.21	78.44
Short-Term Investments	-	97.15	208.92	-	-	-
Trading Asset Securities	662.28	592.85	656.36	760.29	804.06	287.96
Cash & Short-Term Investments	1,255	1,385	1,379	1,325	1,219	366.41
Cash Growth	16.43%	0.38%	4.09%	8.68%	232.77%	102.76%
Accounts Receivable	136.5	159.49	162.15	120.32	175.93	119.06
Other Receivables	98.1	6.14	8.52	6.6	6.61	3.89
Receivables	234.61	165.64	170.67	126.93	182.53	122.95
Inventory	206.33	168.31	219.37	129.82	119.82	112
Prepaid Expenses	-	-	-	-	1.18	-
Other Current Assets	19.31	14.15	9.37	7.48	2.2	10.28
Total Current Assets	1,715	1,733	1,779	1,589	1,525	611.63
Property, Plant & Equipment	93.73	92.09	85.78	70.96	73.31	62.57
Long-Term Investments	14.91	15.05	16.76	8.16	3.21	2.93
Goodwill	16.14	16.14	16.14	1.07	1.07	1.07
Other Intangible Assets	19.62	20.09	19.94	1.34	1.52	1.47
Long-Term Deferred Tax Assets	4.63	4.77	4.84	2.99	2.7	1.39
Long-Term Deferred Charges	5.27	5.71	6.28	3.65	2.46	3.22
Other Long-Term Assets	210.07	205.54	157.18	215.24	243.58	2.41
Total Assets	2,081	2,093	2,087	1,894	1,853	686.7
Accounts Payable	72.28	70.32	81.37	55.08	60.18	52.21
Accrued Expenses	13.38	33.74	43.85	27.94	36.01	28.91
Short-Term Debt	-	-	4	-	-	-
Current Portion of Leases	8.19	9.48	10.26	15.08	12.77	9.17
Current Income Taxes Payable	2.49	2.23	0.52	0.03	0	-
Current Unearned Revenue	24.77	21.75	28.75	9.29	7.55	7.95
Other Current Liabilities	15.22	16.15	21.28	2.5	9.31	5.16
Total Current Liabilities	136.33	153.67	190.03	109.92	125.82	103.4
Long-Term Leases	30.24	31.47	40.89	26.38	36.86	38.41
Long-Term Unearned Revenue	2.07	2.37	-	-	-	0.18
Long-Term Deferred Tax Liabilities	1.36	1.39	1.56	0	0	-
Total Liabilities	169.99	188.9	232.48	136.31	162.69	141.99
Common Stock	135.3	135.3	135.13	104.12	69.41	52.05
Additional Paid-In Capital	1,047	1,045	1,036	1,073	1,103	68.52
Retained Earnings	723.53	719.61	684.79	577.78	516.43	423.49
Treasury Stock	-8.31	-8.31	-16.31	-	-	-
Comprehensive Income & Other	-8.13	-7.92	-6.49	2.57	0.92	0.65
Total Common Equity	1,889	1,884	1,833	1,758	1,690	544.71
Minority Interest	21.32	20.81	20.82	-	-	-
Shareholders' Equity	1,911	1,905	1,854	1,758	1,690	544.71
Total Liabilities & Equity	2,081	2,093	2,087	1,894	1,853	686.7
Total Debt	38.43	40.95	55.15	41.46	49.64	47.58
Net Cash (Debt)	1,216	1,344	1,324	1,284	1,170	318.82
Net Cash Growth	18.81%	1.47%	3.16%	9.74%	266.86%	76.42%
Net Cash Per Share	9.22	10.07	9.80	9.53	10.36	3.15
Filing Date Shares Outstanding	130.61	130.9	134.87	135.35	135.35	101.5
Total Common Shares Outstanding	130.61	130.9	134.87	135.35	135.35	101.5
Working Capital	1,579	1,579	1,589	1,479	1,399	508.22
Book Value Per Share	14.46	14.39	13.59	12.99	12.49	5.37
Tangible Book Value	1,853	1,847	1,797	1,755	1,688	542.17
Tangible Book Value Per Share	14.19	14.11	13.33	12.97	12.47	5.34
Machinery	-	78.09	71.68	54.85	41.88	27.1
Construction In Progress	-	21.44	-	-	-	-

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