Hailun Piano Ratios and Metrics

Market cap in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May '26 May 5, 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
Market Capitalization	3,621	4,094	1,300	1,884	1,742	2,456
Market Cap Growth	126.58%	214.98%	-31.01%	8.13%	-29.04%	35.83%
Enterprise Value	3,953	4,387	1,585	2,100	1,940	2,630
Last Close Price	14.32	16.19	5.11	7.41	6.85	9.65
PE Ratio	-	-	-	-	209.31	-
Forward PE	-	28.14	28.14	28.14	28.14	28.14
PS Ratio	30.90	33.34	8.16	6.33	4.60	4.71
PB Ratio	5.96	6.52	1.81	2.25	1.89	2.68
P/TBV Ratio	6.41	7.00	1.97	2.44	2.10	2.87
P/OCF Ratio	-	-	-	84.83	-	-
EV/Sales Ratio	33.73	35.72	9.95	7.06	5.12	5.04
EV/EBITDA Ratio	-	-	-	-	56.92	54.54
EV/EBIT Ratio	-	-	-	-	370.49	101.22
Debt / Equity Ratio	0.61	0.52	0.43	0.31	0.33	0.28
Debt / EBITDA Ratio	-	-	-	-	8.83	5.37
Net Debt / Equity Ratio	0.55	0.49	0.38	0.24	0.22	0.15
Net Debt / EBITDA Ratio	-7.71	-8.12	-6.00	-129.69	6.04	2.84
Net Debt / FCF Ratio	-5.81	-6.36	-3.05	-15.22	-1.94	-0.86
Asset Turnover	0.11	0.12	0.13	0.22	0.27	0.39
Inventory Turnover	0.29	0.30	0.38	0.58	0.78	1.25
Quick Ratio	0.56	0.61	0.62	0.50	0.51	0.55
Current Ratio	1.96	2.27	2.01	1.56	1.51	1.45
Return on Equity (ROE)	-15.44%	-13.49%	-12.72%	-8.98%	0.91%	-8.45%
Return on Assets (ROA)	-3.50%	-3.32%	-3.77%	-1.52%	0.23%	1.21%
Return on Invested Capital (ROIC)	-6.37%	-5.88%	-7.08%	-3.00%	0.48%	2.58%
Return on Capital Employed (ROCE)	-8.10%	-7.30%	-8.80%	-3.90%	0.60%	2.80%
Earnings Yield	-2.78%	-2.19%	-7.53%	-4.18%	0.48%	-3.24%
FCF Yield	-1.58%	-1.18%	-6.82%	-0.69%	-6.09%	-6.47%
Dividend Yield	-	-	0.63%	-	-	-
Payout Ratio	-	-	-	-	115.45%	-
Buyback Yield / Dilution	0.58%	0.67%	1.29%	8.33%	-8.04%	-4.87%
Total Shareholder Return	0.58%	0.67%	1.92%	8.33%	-8.04%	-4.87%

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