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 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	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Equivalents	491.81	450.76	799	465.61	418.65	549.68
Short-Term Investments	-	331.52	-	-	-	-
Trading Asset Securities	558.4	590.09	163.5	415.62	642.09	887.43
Cash & Short-Term Investments	1,050	1,372	962.5	881.23	1,061	1,437
Cash Growth	26.25%	42.58%	9.22%	-16.92%	-26.19%	5.12%
Accounts Receivable	1,353	1,277	1,490	1,399	1,152	1,515
Other Receivables	1.06	1.06	0.93	0.69	1.26	1.11
Receivables	1,354	1,279	1,491	1,400	1,154	1,516
Inventory	587.04	575.42	567.11	447.11	684.82	505.31
Other Current Assets	119.2	103.32	108.09	60.2	94.45	66.74
Total Current Assets	3,110	3,330	3,129	2,788	2,994	3,525
Property, Plant & Equipment	1,468	1,493	1,610	1,426	1,299	1,210
Long-Term Investments	691.66	356.73	617.66	541.5	162.8	144.67
Goodwill	2.32	2.32	2.32	2.32	2.32	2.32
Other Intangible Assets	108.21	108.96	113.94	116.98	120.01	106.32
Long-Term Deferred Tax Assets	34.99	35.45	25.31	15.71	38.43	17.03
Long-Term Deferred Charges	1.57	1.76	1.88	2.73	3.21	2.02
Other Long-Term Assets	7.18	17.13	24.47	119.3	115.87	60.56
Total Assets	5,424	5,345	5,524	5,013	4,735	5,069
Accounts Payable	596.41	587.54	747.63	610.53	471.67	888.78
Accrued Expenses	66.04	76.5	66.27	63.35	65.34	55.48
Short-Term Debt	562.49	542.39	577.51	550.57	592.01	450.57
Current Portion of Long-Term Debt	12.69	10.08	-	-	-	-
Current Portion of Leases	-	2.67	2.57	1.48	2.86	2.75
Current Income Taxes Payable	19.48	12.42	1.98	14.88	6.21	4.7
Current Unearned Revenue	63.12	51.1	73.15	19.15	25.27	48.95
Other Current Liabilities	12.66	10.95	12.77	4.51	6.19	8.89
Total Current Liabilities	1,333	1,294	1,482	1,264	1,170	1,460
Long-Term Debt	82	82	-	-	-	-
Long-Term Leases	6.46	7.14	9.81	-	1.49	4.35
Long-Term Unearned Revenue	0.87	1.08	3.43	6.15	8.87	11.58
Long-Term Deferred Tax Liabilities	10.42	10.42	9.19	6.84	6.52	4.07
Total Liabilities	1,433	1,394	1,504	1,277	1,186	1,480
Common Stock	560.06	560.06	560.06	494.69	494.69	494.69
Additional Paid-In Capital	2,067	2,067	2,067	1,862	1,862	1,862
Retained Earnings	1,361	1,320	1,390	1,376	1,189	1,230
Total Common Equity	3,987	3,947	4,016	3,733	3,545	3,586
Minority Interest	3.7	3.13	3.5	3.1	3.24	2.5
Shareholders' Equity	3,991	3,950	4,020	3,736	3,549	3,589
Total Liabilities & Equity	5,424	5,345	5,524	5,013	4,735	5,069
Total Debt	663.64	644.28	589.89	552.05	596.36	457.67
Net Cash (Debt)	386.58	728.08	372.61	329.19	464.39	979.44
Net Cash Growth	81.82%	95.40%	13.19%	-29.11%	-52.59%	6.87%
Net Cash Per Share	0.71	1.32	0.73	0.67	1.09	1.96
Filing Date Shares Outstanding	560.06	560.06	560.06	494.69	494.69	494.69
Total Common Shares Outstanding	560.06	560.06	560.06	494.69	494.69	494.69
Working Capital	1,777	2,036	1,647	1,524	1,824	2,065
Book Value Per Share	7.12	7.05	7.17	7.55	7.17	7.25
Tangible Book Value	3,877	3,836	3,900	3,613	3,423	3,478
Tangible Book Value Per Share	6.92	6.85	6.96	7.30	6.92	7.03
Buildings	-	894.04	859.15	721.96	630.59	656.52
Machinery	-	2,164	2,191	1,866	1,593	1,624
Construction In Progress	-	38.41	27.07	120.85	212.37	5.52

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