Nanjing Baose 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	499.03	611.93	801.63	731.29	172.09	141.48
Cash & Short-Term Investments	499.03	611.93	801.63	731.29	172.09	141.48
Cash Growth	-43.21%	-23.66%	9.62%	324.95%	21.63%	80.56%
Accounts Receivable	1,200	1,099	857.49	496.74	590.21	595.03
Other Receivables	22.47	23.41	5.57	9.11	9.51	11.23
Receivables	1,222	1,122	863.06	505.85	599.71	606.26
Inventory	308.56	346.71	260.51	751.14	790.67	582.33
Other Current Assets	63.01	48.42	24.11	124.89	77.86	22.69
Total Current Assets	2,093	2,129	1,949	2,113	1,640	1,353
Property, Plant & Equipment	333.04	338.21	344.55	362.45	379.42	402.45
Long-Term Investments	-	-	-	-	-	0.04
Other Intangible Assets	81.28	81.91	82.65	84.82	87.41	88.17
Long-Term Deferred Tax Assets	35.25	34.05	29.46	25.37	25.88	19.67
Long-Term Deferred Charges	-	-	-	-	0.27	0.52
Other Long-Term Assets	2.65	3.47	1.29	2.99	2.81	2.6
Total Assets	2,545	2,587	2,407	2,589	2,136	1,866
Accounts Payable	577.1	648.8	517.94	265.94	440.81	334.68
Accrued Expenses	21	20.95	28.4	12.25	10.85	19.97
Short-Term Debt	-	-	-	160.13	400.36	401.18
Current Portion of Long-Term Debt	124.95	124.12	23.15	113	-	49.07
Current Portion of Leases	-	0.65	1.26	0.8	0.79	0.9
Current Income Taxes Payable	10	3.12	3.72	0.02	2.02	-
Current Unearned Revenue	178.21	185.08	150.64	430.73	429.35	348.33
Other Current Liabilities	38.88	44.91	26.1	58.76	57.91	53.51
Total Current Liabilities	950.14	1,028	751.23	1,042	1,342	1,208
Long-Term Debt	65.81	48	180	114.22	100.1	-
Long-Term Leases	-	-	0.65	-	-	1.38
Long-Term Unearned Revenue	10.49	11.03	13.24	16.36	19.78	23.49
Long-Term Deferred Tax Liabilities	0.29	0.29	0.5	0.37	0.38	-
Total Liabilities	1,027	1,087	945.61	1,173	1,462	1,233
Common Stock	246.79	246.79	243.62	243.62	202	202
Additional Paid-In Capital	910.96	909.8	888.12	888.1	224.22	224.22
Retained Earnings	373.59	357.5	325.41	281.37	247.55	207.47
Treasury Stock	-20.14	-20.14	-	-	-	-
Comprehensive Income & Other	6.99	6.14	4.5	3.14	-	-
Shareholders' Equity	1,518	1,500	1,462	1,416	673.77	633.69
Total Liabilities & Equity	2,545	2,587	2,407	2,589	2,136	1,866
Total Debt	190.76	172.76	205.06	388.14	501.25	452.53
Net Cash (Debt)	308.27	439.17	596.57	343.14	-329.16	-311.05
Net Cash Growth	-55.67%	-26.38%	73.85%	-	-	-
Net Cash Per Share	1.26	1.80	2.45	1.56	-1.63	-1.54
Filing Date Shares Outstanding	246.79	246.79	246.79	243.62	202	202
Total Common Shares Outstanding	246.79	246.79	243.62	243.62	202	202
Working Capital	1,143	1,102	1,198	1,072	298.24	145.12
Book Value Per Share	6.15	6.08	6.00	5.81	3.34	3.14
Tangible Book Value	1,437	1,418	1,379	1,331	586.36	545.52
Tangible Book Value Per Share	5.82	5.75	5.66	5.47	2.90	2.70
Buildings	-	395.22	394.85	393.57	393.36	391.92
Machinery	-	294.99	283.88	274.46	270.58	265.33
Construction In Progress	-	6.08	-	5.76	-	1.39

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