GemVax&KAEL Balance Sheet

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. 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	17,578	3,575	16,518	15,798	18,718
Short-Term Investments	5,200	3,700	3,700	3,700	3,700
Trading Asset Securities	-	-	481.7	23,314	13,081
Cash & Short-Term Investments	22,778	7,275	20,700	42,812	35,498
Cash Growth	213.12%	-64.86%	-51.65%	20.60%	-34.83%
Accounts Receivable	4,760	8,181	4,823	3,843	6,822
Other Receivables	2,112	2,315	170.32	262.7	185.62
Receivables	6,962	11,075	4,993	4,106	7,008
Inventory	8,675	5,685	6,782	10,838	7,502
Prepaid Expenses	162.38	239.42	236.48	338.56	225.29
Other Current Assets	4,338	892.48	1,018	2,042	2,379
Total Current Assets	42,915	25,166	33,731	60,136	52,612
Property, Plant & Equipment	33,000	36,551	37,498	32,480	26,343
Long-Term Investments	46,471	53,210	56,568	47,313	83,106
Goodwill	-	46.82	1,574	-	-
Other Intangible Assets	3,355	3,232	3,425	2,656	2,642
Long-Term Deferred Charges	-	-	-	5,547	4,725
Other Long-Term Assets	33,132	32,441	2,329	2,971	2,857
Total Assets	158,875	150,746	135,153	151,143	172,338
Accounts Payable	2,673	2,149	1,952	1,491	2,509
Accrued Expenses	5,248	4,235	5,651	3,569	4,372
Short-Term Debt	50,374	51,011	13,490	6,359	6,774
Current Portion of Leases	357.32	315.54	557.62	566.87	627.09
Other Current Liabilities	6,785	12,559	4,338	3,838	1,858
Total Current Liabilities	65,437	70,270	25,989	15,824	16,140
Long-Term Debt	10,000	22,541	1	-	1
Long-Term Leases	161.66	122.06	494.29	514.19	815.95
Pension & Post-Retirement Benefits	-	-	233.55	163.41	1,147
Other Long-Term Liabilities	26,047	28,807	416.85	289.65	247.75
Total Liabilities	101,646	121,740	27,135	16,792	18,352
Common Stock	21,340	19,997	19,997	19,929	19,906
Additional Paid-In Capital	114,083	192,218	187,867	185,986	185,372
Retained Earnings	-78,423	-183,417	-94,083	-65,849	-46,653
Treasury Stock	-4,466	-4,466	-8,196	-8,196	-1,855
Comprehensive Income & Other	4,695	4,673	2,433	2,481	-2,784
Total Common Equity	57,229	29,006	108,019	134,351	153,986
Shareholders' Equity	57,229	29,006	108,019	134,351	153,986
Total Liabilities & Equity	158,875	150,746	135,153	151,143	172,338
Total Debt	60,893	73,990	14,543	7,440	8,218
Net Cash (Debt)	-38,115	-66,715	6,157	35,372	27,280
Net Cash Growth	-	-	-82.59%	29.66%	-31.49%
Net Cash Per Share	-924.59	-1684.35	156.47	897.33	633.48
Filing Date Shares Outstanding	42.15	39.68	39.42	39.28	39.69
Total Common Shares Outstanding	42.15	39.68	39.42	39.28	39.69
Working Capital	-22,522	-45,104	7,742	44,312	36,472
Book Value Per Share	1357.80	731.00	2740.38	3420.24	3880.11
Tangible Book Value	53,874	25,727	103,020	131,695	151,344
Tangible Book Value Per Share	1278.19	648.37	2613.55	3352.62	3813.53
Land	8,091	8,091	8,091	8,091	8,091
Buildings	19,551	19,551	19,247	12,792	11,424
Machinery	17,969	18,469	17,329	12,194	11,990
Construction In Progress	1,127	1,272	161.59	4,494	120.5

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