Migao Group Holdings Balance Sheet

Financials in millions CNY. Fiscal year is April - March.

Millions CNY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Cash & Equivalents	787.95	750.8	812.34	365.73	283.46	54.71
Trading Asset Securities	-	82.76	-	-	-	-
Cash & Short-Term Investments	787.95	833.56	812.34	365.73	283.46	54.71
Cash Growth	71.69%	2.61%	122.11%	29.03%	418.13%	-
Accounts Receivable	445.27	457.1	595.02	338.11	607.15	453.21
Other Receivables	98.24	103.29	92.91	101.26	111.56	100.57
Receivables	543.5	560.4	687.94	439.37	718.71	791.03
Inventory	2,537	2,823	2,208	1,460	1,783	753.72
Restricted Cash	124.79	222.79	152.21	170.48	190.3	245.57
Other Current Assets	8.36	8.36	-	14.74	8.5	1.42
Total Current Assets	4,002	4,448	3,861	2,451	2,984	1,846
Property, Plant & Equipment	633.24	630.76	599.1	639.52	556.93	242.76
Long-Term Investments	87.21	89.61	116.31	122.3	111.03	302.48
Goodwill	12.07	12.07	12.07	12.07	12.07	2.61
Other Intangible Assets	1.59	2.38	3.96	5.55	7.13	8.72
Long-Term Deferred Tax Assets	8.2	4.7	3.7	4.45	4.97	2.07
Other Long-Term Assets	59.34	59.25	9.85	4.38	35.63	0.96
Total Assets	4,803	5,246	4,606	3,239	3,712	2,406
Accounts Payable	402.28	532.54	349.93	496.88	1,021	855.09
Accrued Expenses	127.32	165.99	134.22	104.81	117.18	123.7
Short-Term Debt	-	-	-	105.82	95.02	-
Current Portion of Long-Term Debt	464.35	428.01	380.74	164.74	292.43	129.02
Current Portion of Leases	3.27	3.23	4.84	5.68	3.77	4.41
Current Income Taxes Payable	245.37	231.68	171.88	155.81	112.77	62.5
Current Unearned Revenue	363.64	764.79	745.12	335.98	611.97	408.78
Other Current Liabilities	103.8	35.69	35.37	204.66	234.85	112.08
Total Current Liabilities	1,710	2,162	1,822	1,574	2,489	1,696
Long-Term Debt	141.56	154.33	164.43	80	40	50
Long-Term Leases	9.41	11.07	0.53	5.38	4.55	1.36
Long-Term Deferred Tax Liabilities	2.18	2.4	2.78	3.17	3.58	3.35
Total Liabilities	1,863	2,330	1,990	1,663	2,537	1,750
Common Stock	64.5	64.5	63.86	0.07	0.07	0.07
Additional Paid-In Capital	623.76	691.93	715.78	-	-	-
Retained Earnings	3,246	3,151	2,844	2,591	2,186	1,790
Comprehensive Income & Other	-1,175	-1,177	-1,175	-1,170	-1,159	-1,163
Total Common Equity	2,759	2,731	2,448	1,421	1,027	626.69
Minority Interest	181.25	186.04	167.42	155.08	147.63	29.07
Shareholders' Equity	2,940	2,917	2,616	1,576	1,175	655.76
Total Liabilities & Equity	4,803	5,246	4,606	3,239	3,712	2,406
Total Debt	618.59	596.65	550.54	361.61	435.77	184.78
Net Cash (Debt)	169.36	236.92	261.81	4.12	-152.31	-130.08
Net Cash Growth	141.78%	-9.51%	6256.03%	-	-	-
Net Cash Per Share	0.19	0.26	0.38	0.01	-0.23	-0.19
Filing Date Shares Outstanding	908.94	908.94	900	675	675	675
Total Common Shares Outstanding	908.94	908.94	900	675	675	675
Working Capital	2,292	2,286	2,038	876.18	495.28	150.88
Book Value Per Share	3.04	3.00	2.72	2.10	1.52	0.93
Tangible Book Value	2,745	2,716	2,432	1,403	1,008	615.37
Tangible Book Value Per Share	3.02	2.99	2.70	2.08	1.49	0.91
Buildings	-	423.99	442.08	441.08	412.27	283.41
Machinery	-	495.99	492.96	489.15	462.08	293.42
Construction In Progress	-	71.95	8.18	0.64	13.67	-

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