MIXUE Group Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	7,429	4,335	5,622	2,764	2,676
Short-Term Investments	971.71	1,360	37.19	57.95	26.79
Trading Asset Securities	8,935	3,492	746.05	1,866	900.24
Cash & Short-Term Investments	17,336	9,187	6,405	4,688	3,603
Cash Growth	88.70%	43.43%	36.63%	30.11%	-
Accounts Receivable	30.2	25.62	28.47	15.41	2.03
Other Receivables	234.69	277.2	214.43	85.57	26.99
Receivables	264.88	302.83	242.91	100.98	29.02
Inventory	3,673	2,215	2,232	1,541	1,252
Restricted Cash	37.32	10.81	105.56	65.15	61.87
Other Current Assets	228.79	180.07	162.86	161.02	128.12
Total Current Assets	21,540	11,896	9,148	6,556	5,074
Property, Plant & Equipment	5,903	5,700	3,817	2,147	1,200
Long-Term Investments	2,787	1,974	313.48	14.22	11.4
Goodwill	91.85	-	-	-	-
Other Intangible Assets	172.56	41.96	25.62	20.59	9.03
Long-Term Deferred Tax Assets	117.8	76.01	111.89	41.6	23.61
Other Long-Term Assets	181.79	95.77	1,177	1,166	999.05
Total Assets	30,794	19,783	14,594	9,945	7,316
Accounts Payable	2,213	1,767	1,317	881.81	596.68
Accrued Expenses	1,323	1,083	882.1	444.11	339.23
Current Portion of Long-Term Debt	28.17	-	259.75	140.09	30.03
Current Portion of Leases	74.73	52	72.07	78.81	50.32
Current Income Taxes Payable	335.98	294.31	254.83	129.45	122.58
Current Unearned Revenue	473.06	359.64	259.27	198.31	305.82
Other Current Liabilities	1,174	960.95	689.51	466.08	261.53
Total Current Liabilities	5,621	4,517	3,734	2,339	1,706
Long-Term Leases	84.37	40.55	54.36	62.74	62.41
Long-Term Unearned Revenue	244.94	141.91	147.38	64.62	2.53
Long-Term Deferred Tax Liabilities	44.12	2.49	1.64	0.08	2.56
Other Long-Term Liabilities	30.33	20.71	60.41	-	-
Total Liabilities	6,025	4,723	3,998	2,466	1,774
Common Stock	379.62	360	360	360	360
Retained Earnings	17,858	11,971	7,535	4,498	2,605
Comprehensive Income & Other	6,211	2,624	2,612	2,597	2,572
Total Common Equity	24,449	14,956	10,507	7,454	5,537
Minority Interest	319.72	105.3	88.47	24.97	5.36
Shareholders' Equity	24,769	15,061	10,595	7,479	5,543
Total Liabilities & Equity	30,794	19,783	14,594	9,945	7,316
Total Debt	187.26	92.55	386.17	281.64	142.76
Net Cash (Debt)	17,149	9,094	6,019	4,406	3,460
Net Cash Growth	88.56%	51.10%	36.60%	27.34%	-
Net Cash Per Share	22.80	12.63	16.72	12.24	9.64
Filing Date Shares Outstanding	379.62	360	360	360	359.09
Total Common Shares Outstanding	379.62	360	360	360	359.09
Working Capital	15,919	7,379	5,414	4,217	3,368
Book Value Per Share	64.40	41.54	29.19	20.71	15.42
Tangible Book Value	24,185	14,914	10,481	7,434	5,528
Tangible Book Value Per Share	63.71	41.43	29.11	20.65	15.40
Buildings	3,936	3,210	1,853	565.13	563.56
Machinery	2,143	1,751	1,223	578.74	481.36
Construction In Progress	413.78	990.33	682.16	711.89	57.14
Leasehold Improvements	50.3	83.05	56.6	45.1	28.73

Source: S&P Capital IQ. Standard template. Financial Sources.