Novoray Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	134.97	319.54	189.39	106.48	124.93	144.34
Short-Term Investments	-	107.83	100	50	70	350
Trading Asset Securities	215.91	214.67	275.66	304.97	225.67	12.05
Cash & Short-Term Investments	350.88	642.03	565.06	461.45	420.6	506.39
Cash Growth	-16.62%	13.62%	22.45%	9.71%	-16.94%	-16.65%
Accounts Receivable	431.59	356.29	295.99	304.39	310.26	232.49
Other Receivables	2.7	1.43	0.46	0.08	0.1	1.68
Receivables	434.29	357.72	296.45	304.47	310.36	234.18
Inventory	134.94	105.67	85.89	77.08	76.25	54.42
Other Current Assets	460.54	3.12	2.34	5.03	14.58	2.08
Total Current Assets	1,381	1,109	949.73	848.03	821.79	797.06
Property, Plant & Equipment	675.51	618.5	577.04	598.95	399.04	228.76
Long-Term Investments	49.22	26.2	24.81	-	-	-
Other Intangible Assets	67.11	58.51	50.14	51.69	53.02	10.04
Long-Term Deferred Tax Assets	9.73	9.5	40.86	38.29	1.93	1.33
Long-Term Deferred Charges	-	0.13	-	-	-	-
Other Long-Term Assets	36.29	150.58	112.12	0.67	29.12	55.39
Total Assets	2,219	1,972	1,755	1,538	1,305	1,093
Accounts Payable	223.42	178.33	122	142.72	100.8	70.85
Accrued Expenses	35.19	42.66	26.11	24.94	21	14.37
Short-Term Debt	168.93	96.14	89.19	0.4	-	-
Current Portion of Leases	1.98	1.9	1.75	1.89	0.28	-
Current Income Taxes Payable	18.47	13.87	8.19	3.5	6.57	3.84
Current Unearned Revenue	0.53	0.3	0.85	0.41	0.57	0.75
Other Current Liabilities	0.98	3.65	2.4	1.52	1.78	0.38
Total Current Liabilities	449.52	336.84	250.5	175.39	131.01	90.17
Long-Term Leases	23.31	24.8	26.7	28.62	0.43	-
Long-Term Unearned Revenue	94.47	87.85	89.57	65.1	65.18	26.8
Long-Term Deferred Tax Liabilities	17.87	14.8	40.5	38.48	14.57	11.65
Total Liabilities	585.16	464.29	407.26	307.59	211.19	128.62
Common Stock	241.47	185.75	185.75	124.66	85.97	85.97
Additional Paid-In Capital	464.45	521.86	520.17	581.25	619.94	619.94
Retained Earnings	927.42	800.27	641.77	524.49	388.52	258.64
Comprehensive Income & Other	0.02	-0.2	-0.24	-0.37	-0.73	-0.61
Shareholders' Equity	1,633	1,508	1,347	1,230	1,094	963.95
Total Liabilities & Equity	2,219	1,972	1,755	1,538	1,305	1,093
Total Debt	194.22	122.83	117.65	30.92	0.72	-
Net Cash (Debt)	156.66	519.2	447.41	430.53	419.88	506.39
Net Cash Growth	-47.31%	16.05%	3.92%	2.54%	-17.08%	-13.10%
Net Cash Per Share	0.64	2.14	1.86	1.78	1.74	2.10
Filing Date Shares Outstanding	241.47	241.47	241.47	241.47	241.47	241.47
Total Common Shares Outstanding	241.47	241.47	241.47	241.47	241.47	241.47
Working Capital	931.14	771.71	699.23	672.64	690.78	706.88
Book Value Per Share	6.76	6.24	5.58	5.09	4.53	3.99
Tangible Book Value	1,566	1,449	1,297	1,178	1,041	953.91
Tangible Book Value Per Share	6.49	6.00	5.37	4.88	4.31	3.95
Buildings	-	294.7	266.89	247.41	176.97	83.63
Machinery	-	508.5	457.27	445.57	287.92	208.36
Construction In Progress	-	22.26	10.44	15.74	41.61	24.41

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