Qifeng New Material Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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	582.32	450.76	799	465.61	418.65	549.68
Short-Term Investments	336	331.52	-	-	-	-
Trading Asset Securities	486.18	590.09	163.5	415.62	642.09	887.43
Cash & Short-Term Investments	1,404	1,372	962.5	881.23	1,061	1,437
Cash Growth	69.30%	42.58%	9.22%	-16.92%	-26.19%	5.12%
Accounts Receivable	1,329	1,277	1,490	1,399	1,152	1,515
Other Receivables	0.96	1.06	0.93	0.69	1.26	1.11
Receivables	1,330	1,279	1,491	1,400	1,154	1,516
Inventory	573.64	575.42	567.11	447.11	684.82	505.31
Other Current Assets	110.26	103.32	108.09	60.2	94.45	66.74
Total Current Assets	3,418	3,330	3,129	2,788	2,994	3,525
Property, Plant & Equipment	1,434	1,493	1,610	1,426	1,299	1,210
Long-Term Investments	350.45	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	107.46	108.96	113.94	116.98	120.01	106.32
Long-Term Deferred Tax Assets	35.85	35.45	25.31	15.71	38.43	17.03
Long-Term Deferred Charges	1.37	1.76	1.88	2.73	3.21	2.02
Other Long-Term Assets	9.29	17.13	24.47	119.3	115.87	60.56
Total Assets	5,359	5,345	5,524	5,013	4,735	5,069

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Accounts Payable	621.73	587.54	747.63	610.53	471.67	888.78
Accrued Expenses	75.03	76.5	66.27	63.35	65.34	55.48
Short-Term Debt	561.33	542.39	577.51	550.57	592.01	450.57
Current Portion of Long-Term Debt	10.07	10.08	-	-	-	-
Current Portion of Leases	2.72	2.67	2.57	1.48	2.86	2.75
Current Income Taxes Payable	3.87	12.42	1.98	14.88	6.21	4.7
Current Unearned Revenue	45.66	51.1	73.15	19.15	25.27	48.95
Other Current Liabilities	10.08	10.95	12.77	4.51	6.19	8.89
Total Current Liabilities	1,330	1,294	1,482	1,264	1,170	1,460
Long-Term Debt	77	82	-	-	-	-
Long-Term Leases	5.77	7.14	9.81	-	1.49	4.35
Long-Term Unearned Revenue	0.77	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	1,424	1,394	1,504	1,277	1,186	1,480

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
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	1,305	1,320	1,390	1,376	1,189	1,230
Total Common Equity	3,931	3,947	4,016	3,733	3,545	3,586
Minority Interest	2.76	3.13	3.5	3.1	3.24	2.5
Shareholders' Equity	3,934	3,950	4,020	3,736	3,549	3,589
Total Liabilities & Equity	5,359	5,345	5,524	5,013	4,735	5,069

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 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
Total Debt	656.89	644.28	589.89	552.05	596.36	457.67
Net Cash (Debt)	747.61	728.08	372.61	329.19	464.39	979.44
Net Cash Growth	210.06%	95.40%	13.19%	-29.11%	-52.59%	6.87%
Net Cash Per Share	1.36	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	2,088	2,036	1,647	1,524	1,824	2,065
Book Value Per Share	7.02	7.05	7.17	7.55	7.17	7.25
Tangible Book Value	3,822	3,836	3,900	3,613	3,423	3,478
Tangible Book Value Per Share	6.82	6.85	6.96	7.30	6.92	7.03
Buildings	894.11	894.04	859.15	721.96	630.59	656.52
Machinery	2,177	2,164	2,191	1,866	1,593	1,624
Construction In Progress	42.51	38.41	27.07	120.85	212.37	5.52