Duality Biotherapeutics 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	1,276	1,209	1,131
Short-Term Investments	1,998	188.06	5.26
Trading Asset Securities	99.14	-	-
Cash & Short-Term Investments	3,374	1,397	1,136
Cash Growth	141.52%	22.96%	-
Accounts Receivable	277.92	379.02	100.8
Other Receivables	37.86	70.44	32.55
Receivables	315.78	449.46	133.35
Prepaid Expenses	59.15	-	-
Restricted Cash	49.71	45.16	42.65
Other Current Assets	35.56	18.26	21.75
Total Current Assets	3,834	1,910	1,334
Property, Plant & Equipment	28.68	18.6	17.76
Other Intangible Assets	3.77	46.24	54.25
Other Long-Term Assets	26.28	115.56	94.01
Total Assets	3,893	2,090	1,500
Accounts Payable	761.94	670.91	234.81
Accrued Expenses	-	38.97	25.24
Short-Term Debt	141.06	-	-
Current Portion of Leases	4.81	2.99	2.91
Current Income Taxes Payable	-	1.72	0.92
Current Unearned Revenue	77.77	90.26	156.13
Other Current Liabilities	66.29	3,067	2,141
Total Current Liabilities	1,052	3,872	2,561
Long-Term Leases	3.91	2.3	2.41
Long-Term Unearned Revenue	240.92	238.25	60.16
Other Long-Term Liabilities	169.53	-	-
Total Liabilities	1,466	4,112	2,624
Common Stock	0.06	0.01	0.01
Retained Earnings	-4,855	-2,161	-1,111
Comprehensive Income & Other	7,281	133.26	-19.2
Total Common Equity	2,427	-2,028	-1,130
Shareholders' Equity	2,427	-2,022	-1,124
Total Liabilities & Equity	3,893	2,090	1,500
Total Debt	149.78	5.29	5.32
Net Cash (Debt)	3,224	1,392	1,131
Net Cash Growth	131.68%	23.07%	-
Net Cash Per Share	49.48	173.96	141.35
Filing Date Shares Outstanding	88.61	8	8
Total Common Shares Outstanding	88.61	8	8
Working Capital	2,782	-1,962	-1,227
Book Value Per Share	27.39	-253.46	-141.22
Tangible Book Value	2,423	-2,074	-1,184
Tangible Book Value Per Share	27.34	-259.24	-148.00
Machinery	-	10.74	7.61
Construction In Progress	-	0.55	0.19
Leasehold Improvements	-	6.92	6.33

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