Modern Avenue Group 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	Dec '21 Dec 31, 2021
Cash & Equivalents	170.89	307.88	135.72	113.75	106.3	322.13
Trading Asset Securities	111.19	0.01	100.66	113.13	169.12	-
Cash & Short-Term Investments	282.08	307.89	236.38	226.88	275.42	322.13
Cash Growth	-42.39%	30.25%	4.19%	-17.62%	-14.50%	-45.34%
Accounts Receivable	87.59	98.02	34.53	56.76	71.91	85.54
Other Receivables	7.09	7.15	16.07	44.84	105.87	149.53
Receivables	94.68	105.18	50.6	101.6	177.78	235.07
Inventory	80.57	60.7	59.8	73	98.57	100.22
Prepaid Expenses	-	-	-	0	-	0.38
Other Current Assets	39.46	25.73	16.29	14.15	21.5	29.54
Total Current Assets	496.78	499.49	363.07	415.63	573.26	687.34
Property, Plant & Equipment	80.19	85.78	28.09	65.25	91.07	67.25
Long-Term Investments	33.27	33.27	33.32	50.14	58.68	91.55
Other Intangible Assets	13.44	13.08	4.57	4.65	5.32	6.07
Long-Term Deferred Tax Assets	3.16	3.04	-	-	-	22.62
Long-Term Deferred Charges	3.86	5.61	13.12	15.63	13.68	5.55
Other Long-Term Assets	27.19	27.63	43.69	45.37	48.31	53.12
Total Assets	657.9	667.91	485.87	596.66	790.33	933.48
Accounts Payable	22.75	21.07	15.15	17.48	24.48	36.89
Accrued Expenses	7.75	8.93	8.45	9.64	14.63	24.52
Short-Term Debt	59.53	54.82	-	-	-	-
Current Portion of Long-Term Debt	16.44	16.92	-	-	-	-
Current Portion of Leases	-	-	10.71	22.24	19.16	14.98
Current Income Taxes Payable	1.05	4.1	0.05	0.77	0.1	0.04
Current Unearned Revenue	33.24	34.17	42.84	47.82	65.74	68.17
Other Current Liabilities	72.37	75.7	48.87	52.79	68.63	63.1
Total Current Liabilities	213.12	215.71	126.07	150.73	192.74	207.71
Long-Term Leases	28.52	33.11	15.01	47.34	74.18	47.19
Long-Term Deferred Tax Liabilities	3.07	3.21	2.91	3.04	2.87	2.79
Other Long-Term Liabilities	0.61	0.93	5.86	23.22	13.72	102.23
Total Liabilities	245.33	252.97	149.85	224.33	283.51	359.92
Common Stock	712.52	712.52	712.52	712.52	712.52	712.52
Additional Paid-In Capital	1,456	1,456	1,331	1,311	1,311	1,311
Retained Earnings	-1,775	-1,774	-1,495	-1,437	-1,348	-1,307
Comprehensive Income & Other	19.47	20.43	-212.7	-214.89	-169.47	-144.15
Total Common Equity	412.57	414.93	336.01	371.39	505.86	572.58
Minority Interest	-	-	-	0.94	0.96	0.99
Shareholders' Equity	412.57	414.93	336.01	372.33	506.82	573.57
Total Liabilities & Equity	657.9	667.91	485.87	596.66	790.33	933.48
Total Debt	104.49	104.85	25.73	69.58	93.34	62.17
Net Cash (Debt)	177.59	203.04	210.65	157.3	182.08	259.96
Net Cash Growth	-62.14%	-3.61%	33.92%	-13.61%	-29.96%	-55.89%
Net Cash Per Share	0.25	0.28	0.30	0.22	0.24	0.36
Filing Date Shares Outstanding	699.4	715.79	712.52	712.52	712.52	712.52
Total Common Shares Outstanding	699.4	715.79	712.52	712.52	712.52	712.52
Working Capital	283.66	283.78	237	264.9	380.52	479.63
Book Value Per Share	0.59	0.58	0.47	0.52	0.71	0.80
Tangible Book Value	399.14	401.85	331.44	366.74	500.54	566.51
Tangible Book Value Per Share	0.57	0.56	0.47	0.51	0.70	0.80
Machinery	-	-	13.26	19.06	19.38	18.89
Construction In Progress	-	-	1.25	0.56	6.21	3.81

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