Red phase INC. 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	333.3	368.78	280.16	585.87	503.94	737.29
Cash & Short-Term Investments	363.3	368.78	280.16	585.87	503.94	737.29
Cash Growth	59.92%	31.63%	-52.18%	16.26%	-31.65%	46.85%
Accounts Receivable	398.69	401.96	474.96	508.55	1,188	901.4
Other Receivables	92.14	0.06	6.73	356.21	9.66	67.91
Receivables	490.83	402.02	481.69	864.76	1,198	969.31
Inventory	349.4	336.73	387.15	458.46	790.68	527.37
Prepaid Expenses	-	0.04	0.01	0.05	0.01	0.1
Restricted Cash	-	-	-	-	3.8	-
Other Current Assets	40.84	51.11	20.31	36.59	211.6	131.24
Total Current Assets	1,244	1,159	1,169	1,946	2,708	2,365
Property, Plant & Equipment	283.94	284.91	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	19.71	20.13	21.97	22.07	49.58	64.11
Long-Term Deferred Tax Assets	44.69	44.5	36.13	30.62	57.8	49.69
Long-Term Deferred Charges	0.38	0.41	0.5	0.28	1.23	1.12
Other Long-Term Assets	13.7	116.01	176.79	258.61	19.25	51.47
Total Assets	1,607	1,625	1,712	2,763	4,018	3,816
Accounts Payable	158.67	180.14	174.58	251.32	654.33	432.41
Accrued Expenses	17.28	49.12	61.72	70.31	95.61	86.05
Short-Term Debt	10.02	20.01	40.04	351.98	593.81	499.12
Current Portion of Long-Term Debt	-	-	-	145.55	173.9	137.38
Current Portion of Leases	0.14	0.14	1.29	1.97	1.82	1.52
Current Income Taxes Payable	9.21	11.77	3	6.81	24.96	10.31
Current Unearned Revenue	156.46	120.48	190.33	232.55	115.56	257.21
Other Current Liabilities	28.22	18.99	17.44	60.8	107.19	16.89
Total Current Liabilities	379.99	400.65	488.4	1,121	1,767	1,441
Long-Term Debt	-	-	-	667.38	773.43	692.47
Long-Term Leases	0.02	0.02	0.1	3.19	4.84	6.77
Long-Term Unearned Revenue	20.8	21.21	5.65	7.47	33.8	30.77
Long-Term Deferred Tax Liabilities	0.79	1.18	1.95	2.25	27.69	26.86
Other Long-Term Liabilities	0.19	0.19	-	-	-	-
Total Liabilities	401.79	423.25	496.1	1,802	2,607	2,198
Common Stock	508.52	508.52	508.52	361.8	361.76	360.22
Additional Paid-In Capital	1,381	1,381	1,379	872.05	871.71	862.25
Retained Earnings	-687.03	-690.59	-671.24	-318.17	45.75	246.49
Treasury Stock	-	-	-	-10.99	-10.99	-
Comprehensive Income & Other	-0.89	-0.89	-2.8	52.67	123.43	140.83
Total Common Equity	1,202	1,198	1,214	957.35	1,392	1,610
Minority Interest	3.14	3.1	2.36	4.07	19.54	8.25
Shareholders' Equity	1,205	1,201	1,216	961.42	1,411	1,618
Total Liabilities & Equity	1,607	1,625	1,712	2,763	4,018	3,816
Total Debt	10.18	20.18	41.43	1,170	1,548	1,337
Net Cash (Debt)	353.11	348.6	238.72	-584.21	-1,044	-599.96
Net Cash Growth	73.65%	46.03%	-	-	-	-
Net Cash Per Share	0.69	0.68	0.62	-1.61	-2.86	-1.67
Filing Date Shares Outstanding	508.52	508.52	508.52	361.8	361.76	360.22
Total Common Shares Outstanding	508.52	508.52	508.52	361.8	361.76	360.22
Working Capital	864.37	758.03	680.91	824.42	940.89	924.43
Book Value Per Share	2.36	2.36	2.39	2.65	3.85	4.47
Tangible Book Value	1,182	1,178	1,192	780.74	939.28	1,143
Tangible Book Value Per Share	2.32	2.32	2.34	2.16	2.60	3.17
Buildings	-	247.44	238.92	238.57	276	286.03
Machinery	-	289.46	306.46	324.3	442.29	554.55
Construction In Progress	-	5.68	-	-	92.81	49.97
Order Backlog	-	578.82	-	-	-	-