GemVax&KAEL Balance Sheet

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

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	23,955	17,578	3,575	16,518	15,798	18,718
Short-Term Investments	4,700	5,200	3,700	3,700	3,700	3,700
Trading Asset Securities	-	-	-	481.7	23,314	13,081
Cash & Short-Term Investments	28,655	22,778	7,275	20,700	42,812	35,498
Cash Growth	32.88%	213.12%	-64.86%	-51.65%	20.60%	-34.83%
Accounts Receivable	9,041	4,760	8,181	4,823	3,843	6,822
Other Receivables	573.96	2,112	2,315	170.32	262.7	185.62
Receivables	10,204	6,962	11,075	4,993	4,106	7,008
Inventory	10,394	8,675	5,685	6,782	10,838	7,502
Prepaid Expenses	203.91	162.38	239.42	236.48	338.56	225.29
Other Current Assets	5,618	4,338	892.48	1,018	2,042	2,379
Total Current Assets	55,075	42,915	25,166	33,731	60,136	52,612
Property, Plant & Equipment	32,377	33,000	36,551	37,498	32,480	26,343
Long-Term Investments	51,641	46,471	53,210	56,568	47,313	83,106
Goodwill	-	-	46.82	1,574	-	-
Other Intangible Assets	3,343	3,355	3,232	3,425	2,656	2,642
Long-Term Deferred Charges	-	-	-	-	5,547	4,725
Other Long-Term Assets	33,798	33,132	32,441	2,329	2,971	2,857
Total Assets	176,233	158,875	150,746	135,153	151,143	172,338
Accounts Payable	3,489	2,673	2,149	1,952	1,491	2,509
Accrued Expenses	3,967	5,248	4,235	5,651	3,569	4,372
Short-Term Debt	35,831	50,374	51,011	13,490	6,359	6,774
Current Portion of Leases	350.7	357.32	315.54	557.62	566.87	627.09
Other Current Liabilities	3,213	6,785	12,559	4,338	3,838	1,858
Total Current Liabilities	46,851	65,437	70,270	25,989	15,824	16,140
Long-Term Debt	22,267	10,000	22,541	1	-	1
Long-Term Leases	141.97	161.66	122.06	494.29	514.19	815.95
Pension & Post-Retirement Benefits	-	-	-	233.55	163.41	1,147
Other Long-Term Liabilities	26,244	26,047	28,807	416.85	289.65	247.75
Total Liabilities	95,504	101,646	121,740	27,135	16,792	18,352
Common Stock	22,135	21,340	19,997	19,997	19,929	19,906
Additional Paid-In Capital	138,161	114,083	192,218	187,867	185,986	185,372
Retained Earnings	-79,951	-78,423	-183,417	-94,083	-65,849	-46,653
Treasury Stock	-4,466	-4,466	-4,466	-8,196	-8,196	-1,855
Comprehensive Income & Other	4,851	4,695	4,673	2,433	2,481	-2,784
Total Common Equity	80,730	57,229	29,006	108,019	134,351	153,986
Shareholders' Equity	80,730	57,229	29,006	108,019	134,351	153,986
Total Liabilities & Equity	176,233	158,875	150,746	135,153	151,143	172,338
Total Debt	58,591	60,893	73,990	14,543	7,440	8,218
Net Cash (Debt)	-29,935	-38,115	-66,715	6,157	35,372	27,280
Net Cash Growth	-	-	-	-82.59%	29.66%	-31.49%
Net Cash Per Share	-714.11	-924.51	-1684.35	156.47	897.33	633.48
Filing Date Shares Outstanding	42.6	42.37	39.68	39.42	39.28	39.69
Total Common Shares Outstanding	42.6	42.37	39.68	39.42	39.28	39.69
Working Capital	8,224	-22,522	-45,104	7,742	44,312	36,472
Book Value Per Share	1894.97	1350.82	731.00	2740.38	3420.24	3880.11
Tangible Book Value	77,387	53,874	25,727	103,020	131,695	151,344
Tangible Book Value Per Share	1816.51	1271.62	648.37	2613.55	3352.62	3813.53
Land	8,091	8,091	8,091	8,091	8,091	8,091
Buildings	19,551	19,551	19,551	19,247	12,792	11,424
Machinery	18,104	17,969	18,469	17,329	12,194	11,990
Construction In Progress	1,157	1,127	1,272	161.59	4,494	120.5