Activation Group Holdings 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	298.04	379.19	307.08	300.27	405.82
Short-Term Investments	-	-	-	-	2.85
Cash & Short-Term Investments	298.04	379.19	307.08	300.27	408.67
Cash Growth	-21.40%	23.48%	2.27%	-26.52%	33.78%
Accounts Receivable	263.74	264.94	397.64	308.86	231.69
Other Receivables	-	-	-	-	1.11
Receivables	263.74	264.94	397.64	308.86	232.8
Other Current Assets	22.11	28.81	17.94	16.24	29.22
Total Current Assets	583.89	672.93	722.65	625.37	670.69
Property, Plant & Equipment	10.47	11.45	10.42	14.67	13.82
Long-Term Investments	49.9	48.33	49.98	59.61	20
Goodwill	10.23	10.23	10.23	10.23	10.23
Other Intangible Assets	0.46	0.7	0.86	0.31	0.43
Long-Term Deferred Tax Assets	3.76	1.88	0.55	0.36	1.09
Other Long-Term Assets	0.7	0.39	0.7	0.7	-
Total Assets	659.41	745.91	795.4	711.25	716.24
Accounts Payable	246.23	294.7	339.41	289.6	221.76
Accrued Expenses	8.73	-	-	-	-
Current Portion of Leases	2.68	1.91	3.29	3.12	1.47
Current Income Taxes Payable	-	15.22	23.86	13.38	21.76
Current Unearned Revenue	-	24.09	8.41	2.81	2.03
Other Current Liabilities	33.11	39.65	53.81	38.83	32.35
Total Current Liabilities	290.74	375.56	428.77	347.73	279.35
Long-Term Leases	5.56	5.89	3.29	6.48	7.27
Long-Term Deferred Tax Liabilities	3.16	3.32	3.37	3.45	0.2
Total Liabilities	299.46	384.77	435.43	357.66	286.83
Common Stock	0.66	0.66	0.66	0.66	0.67
Additional Paid-In Capital	-	111.97	111.97	182.54	252.35
Retained Earnings	-	283.28	288.3	191.48	185.05
Comprehensive Income & Other	342.07	-54.55	-61.16	-38.37	-31.76
Total Common Equity	342.73	341.36	339.77	336.31	406.32
Minority Interest	17.22	19.78	20.21	17.28	23.1
Shareholders' Equity	359.96	361.14	359.98	353.59	429.41
Total Liabilities & Equity	659.41	745.91	795.4	711.25	716.24
Total Debt	8.24	7.8	6.58	9.6	8.74
Net Cash (Debt)	289.81	371.39	300.5	290.67	399.93
Net Cash Growth	-21.97%	23.59%	3.38%	-27.32%	37.08%
Net Cash Per Share	0.39	0.50	0.41	0.40	0.54
Filing Date Shares Outstanding	744.32	744.74	744.74	744.74	753.72
Total Common Shares Outstanding	744.32	744.74	744.74	744.74	753.72
Working Capital	293.15	297.37	293.88	277.64	391.33
Book Value Per Share	0.46	0.46	0.46	0.45	0.54
Tangible Book Value	332.04	330.43	328.68	325.77	395.66
Tangible Book Value Per Share	0.45	0.44	0.44	0.44	0.52
Machinery	-	8.75	8.54	8.14	7.07
Leasehold Improvements	-	7.96	7.11	6.89	4.75

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