Fengzhushou 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	Dec '21 Dec 31, 2021
Cash & Equivalents	116.68	-	286.26	458.53	16.88	97.9
Trading Asset Securities	-	-	-	0.13	-	-
Cash & Short-Term Investments	116.68	-	286.26	458.66	16.88	97.9
Cash Growth	13.37%	-	-37.59%	2617.82%	-82.76%	32.04%
Accounts Receivable	1,147	-	774.52	553.69	458.39	297.13
Other Receivables	15.62	-	16.76	12.29	4.64	3.4
Receivables	1,163	-	791.28	565.98	463.02	300.53
Inventory	25.06	-	27.19	25.83	16.08	16.54
Other Current Assets	1,207	-	855.62	731.91	468.37	320.59
Total Current Assets	2,512	-	1,960	1,782	964.35	735.56
Property, Plant & Equipment	371.9	-	235.15	198.2	138.12	134.64
Long-Term Investments	78.49	-	16.49	23.95	4.81	10.64
Goodwill	0.81	-	0.81	0.81	0.81	0.81
Other Intangible Assets	683.24	-	687.56	9.36	0	0.03
Long-Term Deferred Tax Assets	46.02	-	32.62	28.33	16.63	11.47
Long-Term Deferred Charges	9.37	-	7.32	4.96	0.72	0.56
Other Long-Term Assets	9.93	-	7.59	0.11	0.25	1.39
Total Assets	3,712	-	2,948	2,048	1,126	895.1
Accounts Payable	214.66	-	123.48	85.26	136.8	0.86
Accrued Expenses	11.68	-	37.36	25.78	24.74	116.09
Short-Term Debt	972.86	-	673.1	103.12	197.45	129.73
Current Portion of Long-Term Debt	33.57	-	-	-	6.48	6.14
Current Portion of Leases	-	-	1.55	1.46	0.48	0.48
Current Income Taxes Payable	51.89	-	10.83	11.63	12.39	5.02
Current Unearned Revenue	94.55	-	25.26	48.61	16.14	33.34
Other Current Liabilities	35.4	-	8.74	13.1	3.21	2.88
Total Current Liabilities	1,415	-	880.33	288.97	397.69	294.54
Long-Term Debt	329.82	-	174.72	56.62	76.06	71.94
Long-Term Leases	0.94	-	2.42	4.05	0.21	0.36
Long-Term Deferred Tax Liabilities	1.35	-	0.75	0.85	0.14	-
Total Liabilities	1,747	-	1,058	350.49	474.1	366.85
Common Stock	285.59	-	220.39	169.58	127.18	127.18
Additional Paid-In Capital	808.55	-	875.2	927.91	63.74	60.49
Retained Earnings	879.25	-	710.74	604.08	461.99	335.7
Treasury Stock	-55.1	-	-36.27	-	-	-
Comprehensive Income & Other	-7.86	-	-8.4	-11.95	-8.79	-3.83
Total Common Equity	1,910	-	1,762	1,690	644.12	519.54
Minority Interest	54.37	-	128.03	8	7.47	8.71
Shareholders' Equity	1,965	-	1,890	1,698	651.59	528.25
Total Liabilities & Equity	3,712	-	2,948	2,048	1,126	895.1
Total Debt	1,337	-	851.8	165.26	280.68	208.66
Net Cash (Debt)	-1,221	-	-565.54	293.4	-263.81	-110.76
Net Cash Per Share	-4.08	-	-1.98	1.15	-1.22	-0.52
Filing Date Shares Outstanding	282.65	278.79	284.27	286.6	214.94	214.34
Total Common Shares Outstanding	282.65	278.79	284.27	286.6	214.94	214.34
Working Capital	1,097	-	1,080	1,493	566.65	441.02
Book Value Per Share	6.76	-	6.20	5.90	3.00	2.42
Tangible Book Value	1,226	-	1,073	1,679	643.31	518.7
Tangible Book Value Per Share	4.34	-	3.78	5.86	2.99	2.42
Buildings	-	-	212.28	200.02	139.38	131.88
Machinery	-	-	8.88	9	7.7	4.63
Construction In Progress	-	-	32.26	-	-	1.67

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