Walvax Biotechnology Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	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	1,353	3,764	4,365	3,873	3,443
Short-Term Investments	311.84	-	-	-	-
Cash & Short-Term Investments	1,665	3,764	4,365	3,873	3,443
Cash Growth	-55.77%	-13.77%	12.68%	12.49%	75.54%
Accounts Receivable	2,145	2,410	3,101	3,577	2,481
Other Receivables	74.42	58.8	114.18	416.13	774.86
Receivables	2,220	2,468	3,215	3,993	3,255
Inventory	574.16	752.59	1,035	995.81	873.59
Other Current Assets	87.76	82.22	119.21	86.25	107.94
Total Current Assets	4,546	7,067	8,733	8,948	7,680
Property, Plant & Equipment	4,032	4,079	3,768	3,161	2,604
Long-Term Investments	1,367	1,638	1,057	1,292	1,491
Goodwill	33.66	33.66	33.66	33.66	33.66
Other Intangible Assets	831.43	1,035	1,086	1,167	434.98
Long-Term Accounts Receivable	3.67	7.27	-	-	-
Long-Term Deferred Tax Assets	110.81	104.56	103.44	124.84	168.01
Long-Term Deferred Charges	586.4	513.86	473.48	309.38	1,022
Other Long-Term Assets	559.32	246.62	333.54	300.2	240.63
Total Assets	12,071	14,724	15,589	15,336	13,674
Accounts Payable	1,368	1,568	1,805	1,836	1,258
Accrued Expenses	212.79	549.81	722.05	1,145	754.71
Short-Term Debt	163.43	-	320.27	97.18	310
Current Portion of Long-Term Debt	7.66	38.98	8.79	-	-
Current Portion of Leases	11.47	7.85	21.88	23.35	4.6
Current Income Taxes Payable	2.71	-	14.13	19.47	2.03
Current Unearned Revenue	20.42	106.18	160.47	192.96	35.29
Other Current Liabilities	150.64	99.4	151.25	194.15	870.61
Total Current Liabilities	1,937	2,370	3,204	3,509	3,235
Long-Term Debt	189.56	433.34	434.9	314.24	-
Long-Term Leases	16.52	11.77	20.6	27.74	1.06
Long-Term Unearned Revenue	276.77	278.44	423.33	404.53	344.3
Long-Term Deferred Tax Liabilities	16.42	55.91	68.71	90.94	94.56
Other Long-Term Liabilities	97.8	67	42.08	-	-
Total Liabilities	2,534	3,216	4,194	4,346	3,675
Common Stock	1,599	1,599	1,607	1,607	1,601
Additional Paid-In Capital	3,414	4,549	4,900	4,965	4,772
Retained Earnings	3,224	3,110	2,984	2,580	1,895
Treasury Stock	-	-	-358.63	-286.42	-
Comprehensive Income & Other	384.29	171.28	217.18	217.18	216.33
Total Common Equity	8,621	9,430	9,349	9,084	8,484
Minority Interest	915.4	2,078	2,046	1,906	1,515
Shareholders' Equity	9,536	11,508	11,395	10,990	9,999
Total Liabilities & Equity	12,071	14,724	15,589	15,336	13,674
Total Debt	388.63	491.94	806.42	462.51	315.67
Net Cash (Debt)	1,276	3,272	3,558	3,411	3,128
Net Cash Growth	-61.00%	-8.05%	4.31%	9.06%	62.77%
Net Cash Per Share	0.80	2.05	2.22	2.13	1.99
Filing Date Shares Outstanding	1,599	1,599	1,599	1,601	1,601
Total Common Shares Outstanding	1,599	1,599	1,599	1,601	1,601
Working Capital	2,609	4,697	5,529	5,440	4,445
Book Value Per Share	5.39	5.90	5.85	5.67	5.30
Tangible Book Value	7,756	8,361	8,230	7,883	8,016
Tangible Book Value Per Share	4.85	5.23	5.15	4.92	5.01
Buildings	954.86	953.95	948.5	767.91	541.68
Machinery	2,223	2,196	2,093	1,580	1,235
Construction In Progress	2,284	2,114	1,645	1,509	1,527

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