JoulWatt Technology 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	357.63	441.73	1,194	1,821	2,186	230.74
Trading Asset Securities	45.44	32.44	-	-	-	-
Cash & Short-Term Investments	403.06	474.17	1,194	1,821	2,186	230.74
Cash Growth	-60.26%	-60.29%	-34.43%	-16.70%	847.56%	-38.28%
Accounts Receivable	782.02	657.8	552.78	337.92	326.41	141.17
Other Receivables	19.71	25.74	19.32	3.86	12.59	4.74
Receivables	801.73	683.54	572.1	341.78	339	145.9
Inventory	1,133	1,009	854.99	874.17	782.85	276.55
Prepaid Expenses	-	1.6	3.92	12.54	3.46	-
Other Current Assets	382.71	381.87	212.16	313.67	314.6	215.29
Total Current Assets	2,721	2,550	2,837	3,363	3,626	868.48
Property, Plant & Equipment	754.06	763.31	611.8	381.91	271.06	160.96
Long-Term Investments	1,280	1,202	516.73	219.16	53.59	0.45
Goodwill	363.43	363.43	14.26	-	-	-
Other Intangible Assets	404.51	413.98	63.36	30.97	30.01	36.73
Long-Term Deferred Tax Assets	0.2	0.17	0.11	0.25	-	-
Long-Term Deferred Charges	18.26	19.34	3.88	2.6	2.3	-
Other Long-Term Assets	73.12	31.17	156.8	226.78	377.26	105.16
Total Assets	5,615	5,344	4,204	4,225	4,360	1,172
Accounts Payable	550.56	388.83	204.93	166.67	179.87	117.49
Accrued Expenses	91.51	117.64	125.3	42.17	24.55	50.35
Short-Term Debt	1,133	848.64	455.76	414.47	364.33	-
Current Portion of Long-Term Debt	468.54	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	28.89	20.07	14.44	22.58	20.15	3.82
Other Current Liabilities	205.38	271.45	175.72	100.5	84.57	21.69
Total Current Liabilities	2,488	2,012	1,384	836.67	688.83	229.54
Long-Term Debt	1,221	1,160	625.95	682.95	525.22	1
Long-Term Leases	26.05	26.73	17.47	7.28	4.89	4.15
Long-Term Unearned Revenue	72.53	47.65	44.14	28.83	-	-
Long-Term Deferred Tax Liabilities	89.5	88.85	8.51	0.11	-	-
Other Long-Term Liabilities	150.87	148.06	1.37	2.7	-	-
Total Liabilities	4,049	3,483	2,081	1,559	1,219	234.69
Common Stock	450.32	450.32	446.88	446.88	446.88	388.8
Additional Paid-In Capital	2,591	2,567	2,449	2,473	2,410	400.14
Retained Earnings	-1,840	-1,564	-849.41	-246.03	285.38	148.22
Comprehensive Income & Other	47.12	71.29	20.99	-6.57	-	-
Total Common Equity	1,248	1,525	2,068	2,667	3,142	937.16
Minority Interest	318.06	335.31	55.74	-0.28	-0.79	-0.08
Shareholders' Equity	1,566	1,860	2,123	2,667	3,142	937.08
Total Liabilities & Equity	5,615	5,344	4,204	4,225	4,360	1,172
Total Debt	2,849	2,401	1,507	1,195	909.78	41.35
Net Cash (Debt)	-2,446	-1,927	-312.37	626.26	1,277	189.39
Net Cash Growth	-	-	-	-50.94%	574.05%	-42.32%
Net Cash Per Share	-5.46	-4.30	-0.70	1.40	3.26	0.52
Filing Date Shares Outstanding	452.78	450.32	446.88	446.88	446.88	388.8
Total Common Shares Outstanding	452.78	450.32	446.88	446.88	446.88	388.8
Working Capital	232.37	538.52	1,454	2,527	2,937	638.94
Book Value Per Share	2.76	3.39	4.63	5.97	7.03	2.41
Tangible Book Value	480.27	747.71	1,990	2,636	3,112	900.43
Tangible Book Value Per Share	1.06	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

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