Qifeng New Material 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022	Dec '20 Dec 31, 2020
Cash & Equivalents	477.63	799	465.61	418.65	549.68	445.09
Trading Asset Securities	412.77	163.5	415.62	642.09	887.43	921.97
Cash & Short-Term Investments	890.4	962.5	881.23	1,061	1,437	1,367
Cash Growth	17.34%	9.22%	-16.92%	-26.19%	5.12%	45.50%
Accounts Receivable	1,358	1,490	1,399	1,152	1,515	1,598
Other Receivables	0.94	0.93	0.69	1.26	1.11	1.73
Receivables	1,359	1,491	1,400	1,154	1,516	1,600
Inventory	632.24	567.11	447.11	684.82	505.31	336.53
Other Current Assets	157.99	108.09	60.2	94.45	66.74	42.61
Total Current Assets	3,040	3,129	2,788	2,994	3,525	3,346
Property, Plant & Equipment	1,521	1,610	1,426	1,299	1,210	1,230
Long-Term Investments	677.37	617.66	541.5	162.8	144.67	-
Goodwill	2.32	2.32	2.32	2.32	2.32	2.32
Other Intangible Assets	111.67	113.94	116.98	120.01	106.32	109.18
Long-Term Deferred Tax Assets	23.9	25.31	15.71	38.43	17.03	14.9
Long-Term Deferred Charges	1.97	1.88	2.73	3.21	2.02	2.36
Other Long-Term Assets	16.55	24.47	119.3	115.87	60.56	30.22
Total Assets	5,395	5,524	5,013	4,735	5,069	4,735
Accounts Payable	715.38	747.63	610.53	471.67	888.78	681.28
Accrued Expenses	70.86	66.27	63.35	65.34	55.48	56.86
Short-Term Debt	499.4	577.51	550.57	592.01	450.57	450.6
Current Portion of Leases	2.87	2.57	1.48	2.86	2.75	-
Current Income Taxes Payable	12.75	1.98	14.88	6.21	4.7	3.43
Current Unearned Revenue	65.34	73.15	19.15	25.27	48.95	46.9
Other Current Liabilities	12.46	12.77	4.51	6.19	8.89	9.5
Total Current Liabilities	1,379	1,482	1,264	1,170	1,460	1,249
Long-Term Debt	100	-	-	-	-	-
Long-Term Leases	7.59	9.81	-	1.49	4.35	-
Long-Term Unearned Revenue	1.4	3.43	6.15	8.87	11.58	14.3
Long-Term Deferred Tax Liabilities	9.19	9.19	6.84	6.52	4.07	-
Total Liabilities	1,497	1,504	1,277	1,186	1,480	1,263
Common Stock	560.06	560.06	494.69	494.69	494.69	494.69
Additional Paid-In Capital	2,067	2,067	1,862	1,862	1,862	1,862
Retained Earnings	1,268	1,390	1,376	1,189	1,230	1,114
Total Common Equity	3,895	4,016	3,733	3,545	3,586	3,470
Minority Interest	2.78	3.5	3.1	3.24	2.5	1.51
Shareholders' Equity	3,898	4,020	3,736	3,549	3,589	3,472
Total Liabilities & Equity	5,395	5,524	5,013	4,735	5,069	4,735
Total Debt	609.86	589.89	552.05	596.36	457.67	450.6
Net Cash (Debt)	280.54	372.61	329.19	464.39	979.44	916.47
Net Cash Growth	82.20%	13.19%	-29.11%	-52.59%	6.87%	63.92%
Net Cash Per Share	0.49	0.73	0.67	1.09	1.96	1.83
Filing Date Shares Outstanding	560.06	560.06	494.69	494.69	494.69	494.69
Total Common Shares Outstanding	560.06	560.06	494.69	494.69	494.69	494.69
Working Capital	1,661	1,647	1,524	1,824	2,065	2,098
Book Value Per Share	6.95	7.17	7.55	7.17	7.25	7.02
Tangible Book Value	3,781	3,900	3,613	3,423	3,478	3,359
Tangible Book Value Per Share	6.75	6.96	7.30	6.92	7.03	6.79
Buildings	-	859.15	721.96	630.59	656.52	615.09
Machinery	-	2,149	1,866	1,593	1,624	1,531
Construction In Progress	-	27.07	120.85	212.37	5.52	37.7

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