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	Jun '26 Jun 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	214.4	441.73	1,194	1,821	2,186	230.74
Trading Asset Securities	30	32.44	-	-	-	-
Cash & Short-Term Investments	244.4	474.17	1,194	1,821	2,186	230.74
Cash Growth	-74.35%	-60.29%	-34.43%	-16.70%	847.56%	-38.28%
Accounts Receivable	1,032	657.8	552.78	337.92	326.41	141.17
Other Receivables	55.52	25.74	19.32	3.86	12.59	4.74
Receivables	1,087	683.54	572.1	341.78	339	145.9
Inventory	1,253	1,009	854.99	874.17	782.85	276.55
Prepaid Expenses	-	1.6	3.92	12.54	3.46	-
Other Current Assets	306.08	381.87	212.16	313.67	314.6	215.29
Total Current Assets	2,891	2,550	2,837	3,363	3,626	868.48
Property, Plant & Equipment	891.86	763.31	611.8	381.91	271.06	160.96
Long-Term Investments	1,364	1,202	516.73	219.16	53.59	0.45
Goodwill	363.43	363.43	14.26	-	-	-
Other Intangible Assets	395.32	413.98	63.36	30.97	30.01	36.73
Long-Term Deferred Tax Assets	0.29	0.17	0.11	0.25	-	-
Long-Term Deferred Charges	19.66	19.34	3.88	2.6	2.3	-
Other Long-Term Assets	47.24	31.17	156.8	226.78	377.26	105.16
Total Assets	5,973	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	Jun '26 Jun 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	484.32	388.83	204.93	166.67	179.87	117.49
Accrued Expenses	150.51	117.63	125.3	42.17	24.55	50.35
Short-Term Debt	1,203	848.64	455.76	414.47	364.33	-
Current Portion of Long-Term Debt	538.92	346.48	395.73	80.27	10.1	30.04
Current Portion of Leases	21.33	18.52	11.66	10.01	5.24	6.16
Current Income Taxes Payable	0.01	0.01	-	-	-	-
Current Unearned Revenue	30.95	20.07	14.44	22.58	20.15	3.82
Other Current Liabilities	259.47	271.45	175.72	100.5	84.57	21.69
Total Current Liabilities	2,689	2,012	1,384	836.67	688.83	229.54
Long-Term Debt	1,506	1,160	625.95	682.95	525.22	1
Long-Term Leases	21.29	26.73	17.47	7.28	4.89	4.15
Long-Term Unearned Revenue	68.24	47.65	44.14	28.83	-	-
Long-Term Deferred Tax Liabilities	94.86	88.85	8.51	0.11	-	-
Other Long-Term Liabilities	172.83	148.06	1.37	2.7	-	-
Total Liabilities	4,552	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	Jun '26 Jun 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	450.32	450.32	446.88	446.88	446.88	388.8
Additional Paid-In Capital	2,630	2,567	2,449	2,473	2,410	400.14
Retained Earnings	-2,084	-1,564	-849.41	-246.03	285.38	148.22
Comprehensive Income & Other	93.55	71.29	20.99	-6.57	-	-
Total Common Equity	1,090	1,525	2,068	2,667	3,142	937.16
Minority Interest	330.94	335.31	55.74	-0.28	-0.79	-0.08
Shareholders' Equity	1,421	1,860	2,123	2,667	3,142	937.08
Total Liabilities & Equity	5,973	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	Jun '26 Jun 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	3,291	2,401	1,507	1,195	909.78	41.35
Net Cash (Debt)	-3,046	-1,927	-312.37	626.26	1,277	189.39
Net Cash Growth	-	-	-	-50.94%	574.05%	-42.32%
Net Cash Per Share	-6.71	-4.30	-0.70	1.40	3.26	0.52
Filing Date Shares Outstanding	450.32	450.32	446.88	446.88	446.88	388.8
Total Common Shares Outstanding	450.32	450.32	446.88	446.88	446.88	388.8
Working Capital	202.44	538.52	1,454	2,527	2,937	638.94
Book Value Per Share	2.42	3.39	4.63	5.97	7.03	2.41
Tangible Book Value	331.23	747.71	1,990	2,636	3,112	900.43
Tangible Book Value Per Share	0.74	1.66	4.45	5.90	6.96	2.32
Buildings	374.13	374.13	-	-	-	-
Machinery	603.48	481.33	334.22	148.56	9.08	76.43
Construction In Progress	69.49	11.28	335.22	263.91	184.23	84.15