JoulWatt Technology Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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	521.51	441.73	1,194	1,821	2,186	230.74
Trading Asset Securities	61.51	32.44	-	-	-	-
Cash & Short-Term Investments	583.02	474.17	1,194	1,821	2,186	230.74
Cash Growth	-40.23%	-60.29%	-34.43%	-16.70%	847.56%	-38.28%
Accounts Receivable	1,333	657.8	552.78	337.92	326.41	141.17
Other Receivables	91.93	25.74	19.32	3.86	12.59	4.74
Receivables	1,425	683.54	572.1	341.78	339	145.9
Inventory	1,499	1,009	854.99	874.17	782.85	276.55
Prepaid Expenses	-	1.6	3.92	12.54	3.46	-
Other Current Assets	304.43	381.87	212.16	313.67	314.6	215.29
Total Current Assets	3,811	2,550	2,837	3,363	3,626	868.48
Property, Plant & Equipment	831.42	763.31	611.8	381.91	271.06	160.96
Long-Term Investments	1,470	1,202	516.73	219.16	53.59	0.45
Goodwill	560.46	363.43	14.26	-	-	-
Other Intangible Assets	434.73	413.98	63.36	30.97	30.01	36.73
Long-Term Deferred Tax Assets	0.17	0.17	0.11	0.25	-	-
Long-Term Deferred Charges	22.57	19.34	3.88	2.6	2.3	-
Other Long-Term Assets	94.43	31.17	156.8	226.78	377.26	105.16
Total Assets	7,225	5,344	4,204	4,225	4,360	1,172

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Accounts Payable	637.18	388.83	204.93	166.67	179.87	117.49
Accrued Expenses	112.11	117.63	125.3	42.17	24.55	50.35
Short-Term Debt	1,713	848.64	455.76	414.47	364.33	-
Current Portion of Long-Term Debt	444.44	346.48	395.73	80.27	10.1	30.04
Current Portion of Leases	-	18.52	11.66	10.01	5.24	6.16
Current Unearned Revenue	30.97	20.07	14.44	22.58	20.15	3.82
Other Current Liabilities	319.92	271.46	175.72	100.5	84.57	21.69
Total Current Liabilities	3,280	2,012	1,384	836.67	688.83	229.54
Long-Term Debt	1,744	1,160	625.95	682.95	525.22	1
Long-Term Leases	29.47	26.73	17.47	7.28	4.89	4.15
Long-Term Unearned Revenue	87.82	47.65	44.14	28.83	-	-
Long-Term Deferred Tax Liabilities	101.35	88.85	8.51	0.11	-	-
Other Long-Term Liabilities	276.67	148.06	1.37	2.7	-	-
Total Liabilities	5,519	3,483	2,081	1,559	1,219	234.69

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Common Stock	454.87	450.32	446.88	446.88	446.88	388.8
Additional Paid-In Capital	2,734	2,567	2,449	2,473	2,410	400.14
Retained Earnings	-2,243	-1,564	-849.41	-246.03	285.38	148.22
Comprehensive Income & Other	92.28	71.29	20.99	-6.57	-	-
Total Common Equity	1,038	1,525	2,068	2,667	3,142	937.16
Minority Interest	667.71	335.31	55.74	-0.28	-0.79	-0.08
Shareholders' Equity	1,706	1,860	2,123	2,667	3,142	937.08
Total Liabilities & Equity	7,225	5,344	4,204	4,225	4,360	1,172

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 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
Total Debt	3,931	2,401	1,507	1,195	909.78	41.35
Net Cash (Debt)	-3,348	-1,927	-312.37	626.26	1,277	189.39
Net Cash Growth	-	-	-	-50.94%	574.05%	-42.32%
Net Cash Per Share	-7.43	-4.30	-0.70	1.40	3.26	0.52
Filing Date Shares Outstanding	454.87	450.32	446.88	446.88	446.88	388.8
Total Common Shares Outstanding	454.87	450.32	446.88	446.88	446.88	388.8
Working Capital	531.26	538.52	1,454	2,527	2,937	638.94
Book Value Per Share	2.28	3.39	4.63	5.97	7.03	2.41
Tangible Book Value	42.9	747.71	1,990	2,636	3,112	900.43
Tangible Book Value Per Share	0.09	1.66	4.45	5.90	6.96	2.32
Buildings	-	374.13	-	-	-	-
Machinery	-	481.33	334.22	148.56	9.08	76.43
Construction In Progress	-	11.28	335.22	263.91	184.23	84.15