Adicon Holdings 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	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	751.11	1,044	959.42	1,681	1,109	1,229
Trading Asset Securities	-	-	50.84	-	-	-
Cash & Short-Term Investments	751.11	1,044	1,010	1,681	1,109	1,229
Cash Growth	-2.19%	3.32%	-39.89%	51.52%	-9.72%	-
Receivables	1,678	1,377	1,515	1,857	1,214	942.24
Inventory	115.88	126.94	176.59	229.41	109.4	102.93
Other Current Assets	354.07	502.52	601.08	127.86	105.72	61.12
Total Current Assets	2,931	3,051	3,303	3,895	2,538	2,335
Property, Plant & Equipment	525.06	564.24	598.38	594.28	439.52	324.04
Long-Term Investments	-	-	1.54	8.1	-	-
Goodwill	79.8	79.8	79.8	79.8	25.69	-
Other Intangible Assets	150.48	154.06	151.42	143.71	20.5	3.01
Long-Term Accounts Receivable	2.17	2.51	2.47	2.12	1.82	1.85
Long-Term Deferred Tax Assets	123.47	129.18	103.97	118.4	74.56	51.98
Other Long-Term Assets	695.79	704.54	312.58	12.84	9.65	7.75
Total Assets	4,508	4,685	4,554	4,854	3,110	2,724
Accounts Payable	683.03	722.9	743.97	1,124	546.86	439.21
Accrued Expenses	282.49	367.85	455.06	610.51	430.73	288.34
Short-Term Debt	-	-	-	69.68	42	116
Current Portion of Long-Term Debt	582.42	467.98	95.87	43.11	7.14	4.18
Current Portion of Leases	56.97	60.71	49.2	51.4	31.65	28.42
Current Income Taxes Payable	10.16	30.27	77.79	124.55	50.3	44.08
Current Unearned Revenue	22.86	31.14	36.49	21.06	20.68	11.67
Other Current Liabilities	232.28	244.29	298.64	374.59	258.41	77.09
Total Current Liabilities	1,870	1,925	1,757	2,418	1,388	1,009
Long-Term Debt	744.84	837.94	791.65	1,613	712.66	544.21
Long-Term Leases	101.56	124.52	153.12	182.46	146.3	129.71
Long-Term Deferred Tax Liabilities	19.36	22.74	23.17	28.5	10.26	1.54
Total Liabilities	2,736	2,910	2,725	4,242	2,257	1,684
Common Stock	0.1	0.1	0.1	0.09	0.09	0.08
Retained Earnings	-	688.29	641.27	406.39	590.61	727.66
Treasury Stock	-144.9	-112.12	-	-	-	-
Comprehensive Income & Other	1,787	1,072	1,067	104.35	213.54	296.6
Total Common Equity	1,642	1,648	1,708	510.82	804.24	1,024
Minority Interest	129.95	126.59	120.52	101.51	48.61	14.78
Shareholders' Equity	1,772	1,775	1,829	612.34	852.85	1,039
Total Liabilities & Equity	4,508	4,685	4,554	4,854	3,110	2,724
Total Debt	1,486	1,491	1,090	1,959	939.75	822.51
Net Cash (Debt)	-734.68	-447.32	-79.58	-278.53	169.46	406.11
Net Cash Growth	-	-	-	-	-58.27%	-
Net Cash Per Share	-1.03	-0.62	-0.11	-0.39	0.27	0.69
Filing Date Shares Outstanding	708.54	714.29	727.35	653.4	630.97	578.21
Total Common Shares Outstanding	708.54	714.29	727.35	653.4	630.97	578.21
Working Capital	1,061	1,126	1,546	1,477	1,150	1,326
Book Value Per Share	2.32	2.31	2.35	0.78	1.27	1.77
Tangible Book Value	1,412	1,414	1,477	287.31	758.05	1,021
Tangible Book Value Per Share	1.99	1.98	2.03	0.44	1.20	1.77
Machinery	-	677.15	636.63	571.96	416.19	319.97
Construction In Progress	-	8.05	8.71	8.24	12.73	5.32
Leasehold Improvements	-	271.11	260.6	226.74	152.78	132.74

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