Wave Cyber (Shanghai) 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	Mar '26 Mar 24, 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	2,473	2,261	1,728	2,596	3,459	4,945
Market Cap Growth	24.87%	30.80%	-33.41%	-24.96%	-30.04%	-
Enterprise Value	2,359	2,146	1,670	2,519	3,362	4,838
Last Close Price	14.31	13.08	9.92	14.61	19.47	27.83
PE Ratio	53.00	49.04	44.79	56.51	110.25	97.96
Forward PE	-	33.32	31.01	27.93	-	-
PS Ratio	5.89	5.38	4.61	6.76	11.23	13.04
PB Ratio	3.18	2.91	2.24	3.39	4.82	7.23
P/TBV Ratio	3.45	3.16	2.44	3.71	5.31	8.02
P/FCF Ratio	-	-	182.69	-	-	-
P/OCF Ratio	-	-	64.84	114.63	93.29	121.35
EV/Sales Ratio	5.62	5.11	4.45	6.56	10.92	12.76
EV/EBITDA Ratio	26.72	24.31	25.13	35.19	69.14	59.47
EV/EBIT Ratio	45.89	41.75	56.44	66.61	155.09	84.75
EV/FCF Ratio	-	-	176.48	-	-	-
Debt / Equity Ratio	0	0	0	0.00	0.03	0.02
Debt / EBITDA Ratio	0.00	0.00	0.00	0.01	0.41	0.18
Debt / FCF Ratio	-	-	0.02	-	-	-
Net Debt / Equity Ratio	-0.15	-0.15	-0.07	-0.10	-0.14	-0.18
Net Debt / EBITDA Ratio	-1.30	-1.30	-0.84	-1.11	-2.05	-1.48
Net Debt / FCF Ratio	-	-	-5.90	2.93	3.95	1.30
Asset Turnover	-	-	0.42	0.45	0.38	0.56
Inventory Turnover	-	-	2.50	2.90	2.39	3.36
Quick Ratio	-	-	1.27	2.15	1.89	2.89
Current Ratio	-	-	2.41	3.14	2.83	4.10
Return on Equity (ROE)	5.95%	5.95%	4.80%	6.06%	4.48%	9.05%
Return on Assets (ROA)	-	-	2.07%	2.75%	1.67%	5.30%
Return on Invested Capital (ROIC)	6.95%	6.68%	4.04%	5.60%	3.61%	10.11%
Return on Capital Employed (ROCE)	-	-	3.70%	4.90%	3.00%	8.20%
Earnings Yield	1.86%	2.04%	2.23%	1.77%	0.91%	1.02%
FCF Yield	-	-	0.55%	-1.05%	-0.73%	-1.87%
Payout Ratio	-	-	51.58%	0.37%	0.53%	2.51%
Buyback Yield / Dilution	2.64%	2.64%	0.73%	-1.70%	-17.06%	-13.89%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.