Shenzhen HQVT Technology 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
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Cash & Equivalents	65.56	56.71	37.12
Short-Term Investments	62.97	29.05	40.38
Cash & Short-Term Investments	128.52	85.76	77.49
Cash Growth	49.87%	10.66%	-
Accounts Receivable	184.42	145.68	19.82
Other Receivables	0.33	0.3	2.1
Receivables	184.76	145.98	21.91
Inventory	80.19	31.58	55.97
Restricted Cash	-	-	0.05
Other Current Assets	177.26	38.91	18.49
Total Current Assets	570.73	302.23	173.91
Property, Plant & Equipment	36.74	35.84	44.02
Other Intangible Assets	110.97	62.73	37.41
Long-Term Deferred Tax Assets	5.45	3.59	5.63
Other Long-Term Assets	-	0.86	-
Total Assets	723.89	405.24	260.96
Accounts Payable	45.88	79.56	45.06
Accrued Expenses	16.17	22.08	9.4
Short-Term Debt	118.95	28.55	-
Current Portion of Long-Term Debt	33.32	0.04	-
Current Portion of Leases	5.67	10.16	8.61
Current Income Taxes Payable	-	-	0.02
Current Unearned Revenue	75.94	20.28	21.28
Other Current Liabilities	10.02	2.3	0.64
Total Current Liabilities	305.96	162.96	85.02
Long-Term Debt	49.01	0.96	-
Long-Term Leases	6.73	6.94	14.51
Total Liabilities	361.7	170.87	99.53
Common Stock	8.61	8.16	7.9
Additional Paid-In Capital	308.66	219.11	189.37
Retained Earnings	29.75	0.39	-40.02
Comprehensive Income & Other	15.18	6.72	4.18
Shareholders' Equity	362.2	234.38	161.43
Total Liabilities & Equity	723.89	405.24	260.96
Total Debt	213.68	46.65	23.13
Net Cash (Debt)	-85.16	39.11	54.37
Net Cash Growth	-	-28.07%	-
Net Cash Per Share	-10.13	4.92	6.88
Filing Date Shares Outstanding	18.06	7.95	7.9
Total Common Shares Outstanding	8.61	7.95	7.9
Working Capital	264.77	139.27	88.89
Book Value Per Share	42.05	29.50	20.43
Tangible Book Value	251.22	171.64	124.03
Tangible Book Value Per Share	29.17	21.60	15.69
Machinery	26.58	19.44	18.93
Leasehold Improvements	22.46	15.53	15.53