Jiaxing ZMAX Optech 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	387.12	385.66	432.01	462.16	21.72	35.22
Trading Asset Securities	-	-	45.55	-	-	-
Cash & Short-Term Investments	387.12	385.66	477.56	462.16	21.72	35.22
Cash Growth	-15.75%	-19.24%	3.33%	2027.82%	-38.33%	52.30%
Accounts Receivable	246.87	231.97	115.86	134.4	162	167.8
Other Receivables	1.96	1.55	0.32	0.47	5.68	0.31
Receivables	248.83	233.52	116.18	134.88	167.68	168.11
Inventory	186.43	179.02	99.32	91.55	103.2	102.63
Prepaid Expenses	-	-	-	-	0.46	-
Other Current Assets	36.56	33.21	8.12	5.02	2.89	1.99
Total Current Assets	858.94	831.41	701.18	693.6	295.95	307.94
Property, Plant & Equipment	545.26	505.21	275.34	237.99	228.34	201.19
Long-Term Investments	45.33	20.45	17.27	-	-	-
Goodwill	56.1	56.1	1.6	1.6	1.6	1.6
Other Intangible Assets	51.72	52.78	28.6	28.56	29.42	30.29
Long-Term Deferred Tax Assets	18.21	16.95	9.46	9.11	8.16	8.14
Long-Term Deferred Charges	15.93	15.45	10.23	11.29	12.42	9.91
Other Long-Term Assets	27.06	30.88	8.26	35.38	4.52	10.53
Total Assets	1,619	1,529	1,052	1,018	580.42	569.61
Accounts Payable	231.61	210.1	119.58	90.76	79.67	141.3
Accrued Expenses	22.96	45.63	22.02	23.21	23.28	19.49
Short-Term Debt	149.87	57.89	0.9	-	42.24	11.01
Current Portion of Long-Term Debt	6.56	4.24	0.41	0.45	1.47	0.49
Current Portion of Leases	-	3.5	0.45	0.12	0.12	0.16
Current Income Taxes Payable	4.22	1.53	2.53	0.67	2.06	2.2
Current Unearned Revenue	9.38	10.19	6.69	6.88	3.75	6.1
Other Current Liabilities	9.77	32.3	6.22	5.05	21.38	21.67
Total Current Liabilities	434.37	365.38	158.8	127.14	173.98	202.43
Long-Term Debt	123.85	122.83	3.74	24.31	10.12	6.96
Long-Term Leases	4.15	3.21	1.49	0.21	0.17	0.42
Long-Term Unearned Revenue	22.84	22.23	23.75	24.32	24.99	22
Long-Term Deferred Tax Liabilities	4.49	4.67	0.37	0.05	0.04	0.07
Other Long-Term Liabilities	0.58	0.28	0.15	-	-	-
Total Liabilities	590.28	518.59	188.31	176.03	209.29	231.89
Common Stock	88.77	88.77	88	88	66	66
Additional Paid-In Capital	678.58	677.38	659.14	654.38	224.07	218.21
Retained Earnings	153.38	138.48	115.11	96.88	78.15	50.23
Comprehensive Income & Other	-2.63	-1.84	-1.61	-0.96	-0.86	-0.47
Total Common Equity	918.11	902.79	860.64	838.3	367.36	333.98
Minority Interest	110.16	107.85	2.98	3.2	3.77	3.74
Shareholders' Equity	1,028	1,011	863.63	841.51	371.13	337.72
Total Liabilities & Equity	1,619	1,529	1,052	1,018	580.42	569.61
Total Debt	284.43	191.67	6.99	25.09	54.12	19.06
Net Cash (Debt)	102.7	193.99	470.57	437.07	-32.4	16.16
Net Cash Growth	-77.36%	-58.77%	7.66%	-	-	43.27%
Net Cash Per Share	1.15	2.18	5.37	5.17	-0.49	0.24
Filing Date Shares Outstanding	87.64	88.77	88	88	66	66
Total Common Shares Outstanding	87.64	88.77	88	88	66	66
Working Capital	424.57	466.04	542.38	566.46	121.97	105.51
Book Value Per Share	10.48	10.17	9.78	9.53	5.57	5.06
Tangible Book Value	810.28	793.91	830.44	808.15	336.34	302.09
Tangible Book Value Per Share	9.25	8.94	9.44	9.18	5.10	4.58
Buildings	-	290.9	125.05	125.77	125.41	125.95
Machinery	-	347.67	208.59	186.31	175.15	149.14
Construction In Progress	-	69	80.64	46.36	30.11	10.6

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