Wave Cyber (Shanghai) 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	111.38	45.98	79.48	119.09	130.75	17.95
Trading Asset Securities	3.5	10.01	1.12	0.37	4.5	25.16
Cash & Short-Term Investments	114.88	55.99	80.59	119.45	135.25	43.11
Cash Growth	92.28%	-30.53%	-32.53%	-11.68%	213.74%	88.77%
Accounts Receivable	99.35	93.92	125.98	98.23	107.44	99.03
Other Receivables	1.19	1.18	2.06	6.53	4.9	5.27
Receivables	100.54	95.09	128.04	104.76	112.34	104.3
Inventory	104.76	114.36	86.26	95.91	84.63	63.76
Other Current Assets	20.71	20.91	9.91	16.33	19	12.77
Total Current Assets	340.88	286.36	304.79	336.46	351.22	223.94
Property, Plant & Equipment	488.49	512.52	460.91	430.09	333.04	244.08
Long-Term Investments	3.35	23.47	3.8	4.23	4.64	5.04
Other Intangible Assets	61.8	63.01	64.61	66.21	67.82	69.42
Long-Term Deferred Tax Assets	8.25	7.06	2.82	3.77	3.21	2.97
Long-Term Deferred Charges	14.45	17.03	14.63	2.66	3.07	2.16
Other Long-Term Assets	2.82	2.03	21.64	3.32	17.52	17.08
Total Assets	920.04	911.46	873.2	846.74	780.52	564.68
Accounts Payable	36.72	34.84	25.39	33.21	24.96	18.85
Accrued Expenses	3.83	12.5	11.46	12.13	11.76	11.59
Short-Term Debt	-	-	-	19.8	14.98	34.62
Current Portion of Leases	0.28	0.21	0.62	-	-	-
Current Income Taxes Payable	5.71	1.94	0.35	0.13	1.57	2.82
Current Unearned Revenue	46.64	25.94	5.26	4.63	3.69	9.18
Other Current Liabilities	31.1	43.35	54.12	48.79	28.81	44.9
Total Current Liabilities	124.28	118.77	97.19	118.7	85.77	121.96
Long-Term Debt	-	-	-	-	-	0.8
Long-Term Leases	-	-	0.16	-	-	-
Long-Term Unearned Revenue	17.25	19.97	9.97	10.63	10.22	10.29
Long-Term Deferred Tax Liabilities	0.19	0.19	0.19	0.2	0.2	0.21
Total Liabilities	141.72	138.93	107.52	129.53	96.19	133.26
Common Stock	173.75	173.75	173.75	173.75	173.75	130.32
Additional Paid-In Capital	250.52	250.52	250.58	250.58	250.58	91.21
Retained Earnings	361.73	355.15	336.47	290.53	259.15	208.67
Treasury Stock	-10.29	-10.29	-	-	-	-
Comprehensive Income & Other	2.73	2.97	2.69	2.35	0.85	1.23
Total Common Equity	778.44	772.11	763.49	717.2	684.33	431.42
Minority Interest	-0.12	0.42	2.2	-	-	-
Shareholders' Equity	778.33	772.53	765.68	717.2	684.33	431.42
Total Liabilities & Equity	920.04	911.46	873.2	846.74	780.52	564.68
Total Debt	0.28	0.21	0.78	19.8	14.98	35.43
Net Cash (Debt)	114.59	55.78	79.82	99.65	120.27	7.68
Net Cash Growth	92.82%	-30.11%	-19.90%	-17.15%	1465.46%	-
Net Cash Per Share	0.67	0.32	0.45	0.57	0.81	0.06
Filing Date Shares Outstanding	172.85	172.85	173.75	173.75	173.75	130.32
Total Common Shares Outstanding	172.85	172.85	173.75	173.75	173.75	130.32
Working Capital	216.6	167.59	207.59	217.75	265.45	101.98
Book Value Per Share	4.50	4.47	4.39	4.13	3.94	3.31
Tangible Book Value	716.64	709.1	698.88	650.99	616.51	362
Tangible Book Value Per Share	4.15	4.10	4.02	3.75	3.55	2.78
Buildings	-	323.2	323.36	194.16	142.38	100.42
Machinery	-	377.74	328.22	306.02	245.21	233.33
Construction In Progress	-	86.33	49	142.8	134.03	81.41

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.