Shenzhen HFC Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Cash & Equivalents	1,659	222.7	112.57	123.67	151.06
Short-Term Investments	-	64.47	21.95	20.33	-
Trading Asset Securities	28.5	25.25	72.55	40.07	62.43
Cash & Short-Term Investments	1,687	312.43	207.06	184.06	213.49
Cash Growth	-	50.89%	12.50%	-13.78%	-
Accounts Receivable	382.12	314.63	132.89	107.99	83.73
Other Receivables	7.94	0.47	0.57	0.55	0.12
Receivables	390.06	315.17	133.47	108.54	83.91
Inventory	81.76	46.81	19.75	15.91	18.11
Other Current Assets	95.02	11.56	6.31	5.92	3.78
Total Current Assets	2,254	685.97	366.59	314.43	319.28
Property, Plant & Equipment	86.5	68.09	48.48	47.01	48.27
Long-Term Investments	71.18	67.1	109.9	58.66	27.13
Goodwill	1.7	1.7	-	-	-
Other Intangible Assets	2.43	2.88	1.05	0.21	0.34
Long-Term Deferred Tax Assets	5.37	5.3	4.17	4.25	4.6
Long-Term Deferred Charges	10.64	5.6	6.65	7.93	5.35
Other Long-Term Assets	119.31	17.78	3.78	0.86	3.96
Total Assets	2,551	854.42	540.62	433.35	408.92

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Accounts Payable	87.28	73.87	50.68	29.43	17.18
Accrued Expenses	32.39	39.7	25.34	20.98	21.95
Short-Term Debt	0.03	0.01	7.3	2.45	20
Current Income Taxes Payable	36.45	13.2	5.7	3.53	3.64
Current Unearned Revenue	0.21	0.08	0.26	0.17	0.06
Other Current Liabilities	42.65	12.05	11.82	8.46	9
Total Current Liabilities	207.85	138.91	101.11	65.02	71.83
Long-Term Leases	3.79	7.03	11.39	14.41	18.14
Long-Term Unearned Revenue	0.02	0.11	0.3	0.5	-
Long-Term Deferred Tax Liabilities	1.26	2.01	2.64	2.93	3.78
Total Liabilities	212.92	148.06	115.44	82.84	93.75

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Common Stock	74.92	56.19	55.68	55.68	55.68
Additional Paid-In Capital	1,521	240.35	234.02	232.47	232.22
Retained Earnings	733.93	403.15	132.52	61.05	26.09
Comprehensive Income & Other	0.07	0.73	1.63	1.31	1.29
Total Common Equity	2,330	700.42	423.85	350.52	315.27
Minority Interest	8.8	5.94	1.33	-0.01	-0.1
Shareholders' Equity	2,338	706.37	425.18	350.51	315.18
Total Liabilities & Equity	2,551	854.42	540.62	433.35	408.92

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022
Total Debt	12.66	7.04	18.69	16.85	38.14
Net Cash (Debt)	1,675	305.39	188.38	167.21	175.34
Net Cash Growth	-	62.12%	12.66%	-4.64%	-
Net Cash Per Share	29.87	5.46	3.37	3.01	3.64
Filing Date Shares Outstanding	56.1	56.19	55.68	55.5	48.16
Total Common Shares Outstanding	56.1	56.19	55.68	55.5	48.16
Working Capital	2,046	547.06	265.48	249.42	247.45
Book Value Per Share	41.53	12.46	7.61	6.32	6.55
Tangible Book Value	2,325	695.85	422.79	350.32	314.94
Tangible Book Value Per Share	41.45	12.38	7.59	6.31	6.54
Buildings	-	12	12	12	12
Machinery	-	69.23	40.64	32.94	26.31
Construction In Progress	-	3.89	2.01	1.32	0.95