Financial Statements — SEED
Balance Sheet
(in millions CNY)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2020 | FY
2019 |
|---|
| Cash & Equivalents | 2.23 | 8.38 | 3.30 | 2.49 | 2.37 | 3.20 |
| Accounts Receivable | 3.45 | 4.03 | 0.84 | 0.62 | 0.04 | 0.21 |
| Inventory | 2.03 | 12.87 | 13.04 | 0.30 | 4.18 | 4.03 |
| Total Current Assets | 66.08 | 99.75 | 19.75 | 11.49 | 8.96 | 9.78 |
| Property, Plant & Equipment | 4.06 | 28.30 | 2.94 | 6.53 | 48.68 | 21.08 |
| Intangible Assets | -- | 3.19 | 3.26 | 1.79 | 0.29 | 1.83 |
| Total Non-current Assets* | 4.87 | 4.54 | 218.76 | 124.47 | 110.07 | 251.33 |
| Total Assets | 14.16 | 18.77 | 238.51 | 135.96 | 119.04 | 261.11 |
| Accounts Payable | 1.70 | 8.47 | 0.69 | 10.16 | 1.41 | 9.72 |
| Short-term Debt | 7.95 | -- | -- | -- | -- | -- |
| Total Current Liabilities | 21.02 | 184.28 | 313.46 | 41.25 | 44.16 | 35.04 |
| Long-term Debt | 10.49 | 0.83 | 0.86 | 137.66 | 137.66 | 78.61 |
| Total Non-current Liabilities* | 1.81 | 5.88 | (268.92) | 2.22 | 260.48 | 241.55 |
| Total Liabilities | 162.16 | 27.14 | 44.54 | 43.47 | 304.64 | 276.59 |
| Retained Earnings | (89.25) | (580.85) | (601.57) | (92.52) | (650.63) | (67.01) |
| Total Stockholder Equity | (23.34) | (31.29) | (57.40) | (18.86) | (21.69) | (3.21) |
* Derived from reported values
Income Statement
(in millions CNY) (except per-share rows)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2020 | FY
2019 |
|---|
| Total Revenue | 91.29 | 16.18 | 13.00 | 7.41 | 7.16 | 13.43 |
| Cost of Revenue | 84.90 | 97.31 | 76.06 | 36.39 | 5.18 | 15.29 |
| Gross Profit | 6.39 | 2.29 | 2.40 | 16.19 | 12.81 | (12.83) |
| Research & Development | 1.84 | 1.45 | 7.45 | 7.43 | 1.98 | 1.93 |
| Selling, General & Admin | 40.17 | 5.13 | 14.23 | 14.32 | 73.32 | 3.96 |
| Interest Expense | -- | -- | -- | 1.16 | 8.56 | 4.68 |
| Pretax Income | (58.26) | 2.67 | 8.75 | 0.33 | (126.90) | (65.14) |
| Tax Provision | (0.29) | 0.01 | 0.16 | -0.00 | 0.18 | -- |
| Net Income | (53.33) | 2.96 | 7.71 | (0.88) | (91.53) | (9.02) |
| Basic EPS | (1.00) | 3.21 | 8.45 | (1.09) | (2.51) | -- |
| Diluted EPS | (7.12) | 0.46 | 1.17 | (1.09) | (2.51) | -- |
Cash Flow Statement
(in millions USD)| Metric | FY
2025 | FY
2024 | FY
2023 | FY
2022 | FY
2020 | FY
2019 |
|---|
| Operating Cash Flow | (3.22) | (15.03) | (5.46) | 0.47 | (3.87) | (8.76) |
| Capital Expenditures | 11.21 | 0.71 | 1.24 | 0.09 | 0.72 | 0.00 |
| Free Cash Flow* | (14.43) | (15.74) | (6.70) | 0.38 | (4.58) | (8.76) |
| Investing Cash Flow | (13.72) | (0.71) | (1.56) | (1.10) | (0.19) | 1.33 |
| Financing Cash Flow | 44.31 | 0.64 | 22.93 | (0.33) | 19.84 | 53.60 |
* Derived from reported values
