Mubang High-Tech Balance Sheet

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

Millions CNY. 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	662.29	-	261.12	110.17	50.89	149.93
Cash & Short-Term Investments	662.29	48.97	261.12	110.17	50.89	149.93
Cash Growth	147.62%	-81.25%	137.02%	116.48%	-66.06%	251.25%
Accounts Receivable	63.92	-	138.25	770.51	556.57	89.2
Other Receivables	15.14	-	1.71	6.21	0.52	0.07
Receivables	79.05	-	139.96	776.72	557.1	89.27
Inventory	89.4	-	121.62	321.29	417.25	189.08
Other Current Assets	139.52	-	216.87	241.96	72.36	68.61
Total Current Assets	970.26	-	739.58	1,450	1,098	496.88
Property, Plant & Equipment	1,944	-	2,268	1,973	899.43	341.23
Long-Term Investments	26.69	-	50	50	50.13	40.13
Goodwill	-	-	-	782.62	782.62	159.8
Other Intangible Assets	45.54	-	52.08	45.05	47.61	10.07
Long-Term Deferred Tax Assets	82.46	-	95.49	39.37	4.5	6.88
Long-Term Deferred Charges	135.69	-	112.97	21.66	22.36	7.6
Other Long-Term Assets	188.46	-	213.74	213.04	272.76	4.5
Total Assets	3,393	-	3,532	4,575	3,177	1,067
Accounts Payable	1,044	-	879.88	1,262	372.5	27.6
Accrued Expenses	51.88	-	18.05	62.47	23.45	9.28
Short-Term Debt	974.19	-	988.71	702.95	519.22	5
Current Portion of Long-Term Debt	0.45	-	-	133.53	50.6	2
Current Portion of Leases	-	-	39.81	61.04	3.4	3.47
Current Income Taxes Payable	20.01	-	17.97	44.27	15.27	1.29
Current Unearned Revenue	52.12	-	5.69	56.32	29.51	7.18
Other Current Liabilities	1,154	-	114.97	777.31	1,105	4.51
Total Current Liabilities	3,296	-	2,065	3,100	2,119	60.33
Long-Term Debt	-	-	-	180	52.25	53
Long-Term Leases	-	-	3.31	22.95	2.69	3.38
Long-Term Unearned Revenue	15.55	-	516.51	514.58	275	5.2
Long-Term Deferred Tax Liabilities	11.91	-	14.03	15.82	11.7	0.02
Total Liabilities	3,375	-	2,599	3,833	2,461	121.94
Common Stock	433.64	-	433.64	342.63	342.63	342.63
Additional Paid-In Capital	1,800	-	1,724	412.98	412.98	412.98
Retained Earnings	-2,139	-	-1,173	-11.05	-39.21	189.55
Comprehensive Income & Other	-23.31	-	-	-	-	-
Total Common Equity	71.53	642.48	984.19	744.56	716.4	945.16
Minority Interest	-53.68	-	-50.85	-2.13	-0.32	-
Shareholders' Equity	17.85	590.99	933.34	742.43	716.09	945.16
Total Liabilities & Equity	3,393	-	3,532	4,575	3,177	1,067
Total Debt	974.64	932.12	1,032	1,100	628.16	66.85
Net Cash (Debt)	-312.35	-883.16	-770.71	-990.29	-577.27	83.07
Net Cash Per Share	-0.72	-2.04	-1.84	-2.80	-1.69	0.25
Filing Date Shares Outstanding	436.91	433.17	433.64	342.63	342.63	342.63
Total Common Shares Outstanding	436.91	433.17	433.64	342.63	342.63	342.63
Working Capital	-2,326	-	-1,326	-1,649	-1,022	436.55
Book Value Per Share	0.16	1.48	2.27	2.17	2.09	2.76
Tangible Book Value	25.99	592.71	932.11	-83.11	-113.83	775.29
Tangible Book Value Per Share	0.06	1.37	2.15	-0.24	-0.33	2.26
Buildings	-	-	411.26	453.94	270.49	262.15
Machinery	-	-	657.77	565.79	505.71	242.59
Construction In Progress	-	-	1,584	1,255	357.58	0.85

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