Walvax Biotechnology 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	970.1	1,353	3,764	4,365	3,873	3,443
Short-Term Investments	-	311.84	-	-	-	-
Cash & Short-Term Investments	970.1	1,665	3,764	4,365	3,873	3,443
Cash Growth	-72.32%	-55.77%	-13.77%	12.68%	12.49%	75.54%
Accounts Receivable	2,288	2,145	2,410	3,101	3,577	2,481
Other Receivables	80.59	74.42	58.8	114.18	416.13	774.86
Receivables	2,369	2,220	2,468	3,215	3,993	3,255
Inventory	561.74	574.16	752.59	1,035	995.81	873.59
Other Current Assets	428.68	87.76	82.22	119.21	86.25	107.94
Total Current Assets	4,329	4,546	7,067	8,733	8,948	7,680
Property, Plant & Equipment	4,015	4,032	4,079	3,768	3,161	2,604
Long-Term Investments	474	1,367	1,638	1,057	1,292	1,491
Goodwill	33.66	33.66	33.66	33.66	33.66	33.66
Other Intangible Assets	816.96	831.43	1,035	1,086	1,167	434.98
Long-Term Accounts Receivable	-	3.67	7.27	-	-	-
Long-Term Deferred Tax Assets	106.93	110.81	104.56	103.44	124.84	168.01
Long-Term Deferred Charges	608.53	586.4	513.86	473.48	309.38	1,022
Other Long-Term Assets	744.14	559.32	246.62	333.54	300.2	240.63
Total Assets	11,128	12,071	14,724	15,589	15,336	13,674
Accounts Payable	1,296	1,368	1,568	1,805	1,836	1,258
Accrued Expenses	37.81	212.79	549.81	722.05	1,145	754.71
Short-Term Debt	375.59	163.43	-	320.27	97.18	310
Current Portion of Long-Term Debt	57.3	7.66	38.98	8.79	-	-
Current Portion of Leases	-	11.47	7.85	21.88	23.35	4.6
Current Income Taxes Payable	23.38	2.71	-	14.13	19.47	2.03
Current Unearned Revenue	15.96	20.42	106.18	160.47	192.96	35.29
Other Current Liabilities	195.93	150.64	99.4	151.25	194.15	870.61
Total Current Liabilities	2,002	1,937	2,370	3,204	3,509	3,235
Long-Term Debt	917.26	189.56	433.34	434.9	314.24	-
Long-Term Leases	12.82	16.52	11.77	20.6	27.74	1.06
Long-Term Unearned Revenue	260.53	276.77	278.44	423.33	404.53	344.3
Long-Term Deferred Tax Liabilities	16.24	16.42	55.91	68.71	90.94	94.56
Other Long-Term Liabilities	106.06	97.8	67	42.08	-	-
Total Liabilities	3,315	2,534	3,216	4,194	4,346	3,675
Common Stock	1,599	1,599	1,599	1,607	1,607	1,601
Additional Paid-In Capital	2,090	3,414	4,549	4,900	4,965	4,772
Retained Earnings	3,719	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	7,408	8,621	9,430	9,349	9,084	8,484
Minority Interest	404.99	915.4	2,078	2,046	1,906	1,515
Shareholders' Equity	7,813	9,536	11,508	11,395	10,990	9,999
Total Liabilities & Equity	11,128	12,071	14,724	15,589	15,336	13,674
Total Debt	1,363	388.63	491.94	806.42	462.51	315.67
Net Cash (Debt)	-392.87	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	-0.24	0.80	2.05	2.22	2.13	1.99
Filing Date Shares Outstanding	1,599	1,599	1,599	1,599	1,601	1,601
Total Common Shares Outstanding	1,599	1,599	1,599	1,599	1,601	1,601
Working Capital	2,327	2,609	4,697	5,529	5,440	4,445
Book Value Per Share	4.63	5.39	5.90	5.85	5.67	5.30
Tangible Book Value	6,558	7,756	8,361	8,230	7,883	8,016
Tangible Book Value Per Share	4.10	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.