Suzhou Sepax Technologies 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	152.56	183.86	103.08	258.79	335.33	65.25
Short-Term Investments	-	-0.23	-0.18	0.1	0.02	0.02
Trading Asset Securities	400.2	339.4	1.95	8.06	3.5	546.08
Cash & Short-Term Investments	552.76	523.03	104.85	266.94	338.86	611.35
Cash Growth	427.18%	398.82%	-60.72%	-21.22%	-44.57%	2626.86%
Accounts Receivable	151.24	120.68	91.83	56.92	47.37	32.86
Other Receivables	7.41	1.1	1.14	1.23	0.88	0.81
Receivables	158.65	121.78	92.97	58.15	48.25	33.67
Inventory	93.93	92.21	93.94	106.11	89.78	46.01
Other Current Assets	111.23	84.21	298.63	2.96	5.79	12.97
Total Current Assets	916.56	821.23	590.39	434.16	482.67	704
Property, Plant & Equipment	244.4	243.6	249.31	256.59	254.49	249.81
Long-Term Investments	-	338.01	274.87	350.19	251.2	-
Other Intangible Assets	10.71	10.86	11.35	11.82	12.41	10.58
Long-Term Deferred Tax Assets	22.89	24.05	18.7	15.39	10.92	10.3
Long-Term Deferred Charges	9.48	9.24	32.18	28.18	29.35	3.12
Other Long-Term Assets	329.56	6.1	5.5	5.67	6.89	6.54
Total Assets	1,534	1,453	1,182	1,102	1,048	984.35
Accounts Payable	13	2.99	1.36	1.55	14.42	16.15
Accrued Expenses	9.07	14.49	18.8	14.37	8.87	5.7
Short-Term Debt	60.7	18.51	0.39	0.41	0.63	4.76
Current Portion of Leases	5.96	5.99	5.68	5.5	4.62	4.32
Current Income Taxes Payable	9.92	5.23	3.67	8.51	2.06	0.18
Current Unearned Revenue	1.42	1.69	6.06	0.89	1.98	1.75
Other Current Liabilities	1.88	4.35	4.81	5.59	0.72	0.77
Total Current Liabilities	101.95	53.25	40.76	36.82	33.29	33.63
Long-Term Leases	29.07	31.05	37.79	43.07	46.3	46.61
Long-Term Unearned Revenue	5.55	5.88	5.72	14.45	15.53	7.37
Long-Term Deferred Tax Liabilities	0.11	0.09	-	1.83	5.56	7.27
Total Liabilities	136.67	90.27	84.27	96.17	100.67	94.88
Common Stock	416.46	416.46	366.49	366.49	366.49	366.49
Additional Paid-In Capital	602.89	602.19	483.59	479.91	477.12	474.33
Retained Earnings	371.36	335.87	237.23	152.07	99.59	52.45
Comprehensive Income & Other	-4.36	-2.28	0.75	-0.93	-2.28	-8.43
Total Common Equity	1,386	1,352	1,088	997.54	940.91	884.84
Minority Interest	10.59	10.59	9.98	8.29	6.33	4.63
Shareholders' Equity	1,397	1,363	1,098	1,006	947.25	889.47
Total Liabilities & Equity	1,534	1,453	1,182	1,102	1,048	984.35
Total Debt	95.73	55.55	43.86	48.98	51.55	55.7
Net Cash (Debt)	457.03	467.47	60.99	217.96	287.31	555.66
Net Cash Growth	649.30%	666.42%	-72.02%	-24.14%	-48.29%	-
Net Cash Per Share	1.10	1.13	0.17	0.59	0.78	1.79
Filing Date Shares Outstanding	416.46	416.46	366.49	366.49	366.49	366.49
Total Common Shares Outstanding	416.46	416.46	366.49	366.49	366.49	366.49
Working Capital	814.62	767.98	549.63	397.34	449.38	670.38
Book Value Per Share	3.33	3.25	2.97	2.72	2.57	2.41
Tangible Book Value	1,376	1,341	1,077	985.72	928.51	874.26
Tangible Book Value Per Share	3.30	3.22	2.94	2.69	2.53	2.39
Buildings	-	183.66	183.19	173.97	171.3	171.3
Machinery	-	87.49	81.17	78.35	70.31	45.14
Construction In Progress	-	10.46	3.27	8.66	1.73	12.54

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