Novoray Ratios and Metrics

Market cap in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Feb '26 Feb 26, 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
Market Capitalization	17,125	14,993	11,962	9,835	6,069	9,532
Market Cap Growth	36.69%	25.34%	21.62%	62.07%	-36.33%	136.75%
Enterprise Value	16,968	14,836	11,665	9,424	5,701	9,462
Last Close Price	70.92	62.09	49.05	39.92	24.47	38.09
PE Ratio	58.61	51.23	47.59	56.53	32.24	55.14
Forward PE	39.29	36.64	38.84	39.33	21.92	42.14
PS Ratio	15.35	13.44	12.46	13.82	9.17	15.26
PB Ratio	10.48	9.18	7.93	7.30	4.93	8.72
P/TBV Ratio	10.93	9.57	8.25	7.58	5.15	9.16
P/FCF Ratio	-	-	72.44	50.72	70.68	-
P/OCF Ratio	-	-	46.96	39.83	25.21	62.13
EV/Sales Ratio	15.21	13.30	12.15	13.24	8.61	15.15
EV/EBITDA Ratio	43.91	38.39	38.14	41.08	28.66	47.15
EV/EBIT Ratio	50.58	44.22	45.76	52.43	35.07	53.23
EV/FCF Ratio	-	-	70.64	48.60	66.40	-
Debt / Equity Ratio	0.12	0.12	0.08	0.09	0.03	0.00
Debt / EBITDA Ratio	0.50	0.50	0.40	0.51	0.16	0.00
Debt / FCF Ratio	-	-	0.74	0.61	0.36	-
Net Debt / Equity Ratio	-0.10	-0.10	-0.34	-0.33	-0.35	-0.38
Net Debt / EBITDA Ratio	-0.40	-0.40	-1.70	-1.95	-2.16	-2.09
Net Debt / FCF Ratio	-	-	-3.14	-2.31	-5.01	7.70
Asset Turnover	-	-	0.52	0.43	0.47	0.52
Inventory Turnover	-	-	5.99	5.31	5.26	5.50
Quick Ratio	-	-	2.97	3.44	4.37	5.58
Current Ratio	-	-	3.29	3.79	4.84	6.27
Return on Equity (ROE)	18.63%	18.63%	17.61%	13.50%	16.20%	16.80%
Return on Assets (ROA)	-	-	8.55%	6.83%	7.15%	9.27%
Return on Invested Capital (ROIC)	19.89%	23.83%	23.71%	18.65%	21.50%	27.50%
Return on Capital Employed (ROCE)	-	-	15.60%	12.00%	11.90%	15.10%
Earnings Yield	1.71%	1.95%	2.10%	1.77%	3.10%	1.81%
FCF Yield	-	-	1.38%	1.97%	1.42%	-0.57%
Dividend Yield	0.54%	-	0.78%	0.96%	0.96%	0.57%
Payout Ratio	-	-	37.79%	32.85%	27.77%	24.87%
Buyback Yield / Dilution	0.08%	0.08%	-0.60%	0.69%	-0.58%	0.24%
Total Shareholder Return	0.64%	0.08%	0.19%	1.65%	0.38%	0.81%

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