Red phase INC. 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	-	280.16	585.87	503.94	737.29
Cash & Short-Term Investments	302.33	280.16	585.87	503.94	737.29
Cash Growth	7.91%	-52.18%	16.26%	-31.65%	46.85%
Accounts Receivable	-	474.96	508.55	1,188	901.4
Other Receivables	-	6.73	356.21	9.66	67.91
Receivables	-	481.69	864.76	1,198	969.31
Inventory	-	387.15	458.46	790.68	527.37
Prepaid Expenses	-	0.01	0.05	0.01	0.1
Restricted Cash	-	-	-	3.8	-
Other Current Assets	-	20.31	36.59	211.6	131.24
Total Current Assets	-	1,169	1,946	2,708	2,365
Property, Plant & Equipment	-	299.01	349.13	585.48	688.45
Long-Term Investments	-	8.29	2.04	193.94	192.84
Goodwill	-	-	154.54	402.8	402.8
Other Intangible Assets	-	21.97	22.07	49.58	64.11
Long-Term Deferred Tax Assets	-	36.13	30.62	57.8	49.69
Long-Term Deferred Charges	-	0.5	0.28	1.23	1.12
Other Long-Term Assets	-	176.79	258.61	19.25	51.47
Total Assets	-	1,712	2,763	4,018	3,816
Accounts Payable	-	174.58	251.32	654.33	432.41
Accrued Expenses	-	61.72	70.31	95.61	86.05
Short-Term Debt	-	40.04	351.98	593.81	499.12
Current Portion of Long-Term Debt	-	-	145.55	173.9	137.38
Current Portion of Leases	-	1.29	1.97	1.82	1.52
Current Income Taxes Payable	-	3	6.81	24.96	10.31
Current Unearned Revenue	-	190.33	232.55	115.56	257.21
Other Current Liabilities	-	17.44	60.8	107.19	16.89
Total Current Liabilities	-	488.4	1,121	1,767	1,441
Long-Term Debt	-	-	667.38	773.43	692.47
Long-Term Leases	-	0.1	3.19	4.84	6.77
Long-Term Unearned Revenue	-	5.65	7.47	33.8	30.77
Long-Term Deferred Tax Liabilities	-	1.95	2.25	27.69	26.86
Total Liabilities	-	496.1	1,802	2,607	2,198
Common Stock	-	508.52	361.8	361.76	360.22
Additional Paid-In Capital	-	1,379	872.05	871.71	862.25
Retained Earnings	-	-671.24	-318.17	45.75	246.49
Treasury Stock	-	-	-10.99	-10.99	-
Comprehensive Income & Other	-	-2.8	52.67	123.43	140.83
Total Common Equity	1,280	1,214	957.35	1,392	1,610
Minority Interest	-	2.36	4.07	19.54	8.25
Shareholders' Equity	1,283	1,216	961.42	1,411	1,618
Total Liabilities & Equity	-	1,712	2,763	4,018	3,816
Total Debt	15.51	41.43	1,170	1,548	1,337
Net Cash (Debt)	286.82	238.72	-584.21	-1,044	-599.96
Net Cash Growth	20.15%	-	-	-	-
Net Cash Per Share	0.64	0.62	-1.61	-2.86	-1.67
Filing Date Shares Outstanding	265.76	508.52	361.8	361.76	360.22
Total Common Shares Outstanding	508.52	508.52	361.8	361.76	360.22
Working Capital	-	680.91	824.42	940.89	924.43
Book Value Per Share	2.52	2.39	2.65	3.85	4.47
Tangible Book Value	1,260	1,192	780.74	939.28	1,143
Tangible Book Value Per Share	2.48	2.34	2.16	2.60	3.17
Buildings	-	238.92	238.57	276	286.03
Machinery	-	306.46	324.3	442.29	554.55
Construction In Progress	-	-	-	92.81	49.97

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.