JL Mag Rare-Earth 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	Dec '21 Dec 31, 2021
Cash & Equivalents	3,298	3,357	2,713	3,886	4,130	1,500
Short-Term Investments	909.07	768.55	10.05	-	-	-
Trading Asset Securities	499.14	203.84	186.18	209.51	143.47	7.23
Cash & Short-Term Investments	4,707	4,329	2,909	4,095	4,274	1,507
Cash Growth	80.37%	48.81%	-28.96%	-4.17%	183.64%	98.41%
Accounts Receivable	3,291	3,343	2,359	2,345	2,838	1,631
Other Receivables	41.04	46.57	56.21	45.63	10.18	2.84
Receivables	3,332	3,389	2,416	2,390	2,848	1,633
Inventory	3,094	2,777	2,178	2,213	1,931	1,324
Other Current Assets	305.2	301.91	189.09	137.36	73.91	100.54
Total Current Assets	11,438	10,797	7,692	8,836	9,127	4,565
Property, Plant & Equipment	3,311	3,298	3,078	2,489	1,717	1,045
Long-Term Investments	39.87	711.18	1,038	19.76	18.44	3.5
Goodwill	64.43	64.43	64.43	-	-	-
Other Intangible Assets	282.44	286.09	264.95	217.12	217.68	197.23
Long-Term Deferred Tax Assets	29.93	26.18	3.78	0.56	1.74	5
Long-Term Deferred Charges	4.33	4.5	4.4	2.98	6	25.74
Other Long-Term Assets	788.72	139.74	151.87	260.4	132.74	209.47
Total Assets	15,959	15,327	12,297	11,826	11,220	6,051
Accounts Payable	4,193	3,577	3,058	2,910	2,603	1,018
Accrued Expenses	60.29	149.31	92.64	86.14	76.38	61.69
Short-Term Debt	1,181	1,329	257.95	400.88	945.5	1,128
Current Portion of Long-Term Debt	515.68	523.77	323.34	1.41	300.53	223.78
Current Portion of Leases	-	6.07	3.34	6.06	4.14	2.22
Current Income Taxes Payable	43.63	49.53	10.84	10.33	3.26	5.11
Current Unearned Revenue	93.38	85.64	39.78	287.71	23.9	29.59
Other Current Liabilities	290.79	264.74	300	281.38	154.1	99.62
Total Current Liabilities	6,377	5,985	4,086	3,983	4,111	2,568
Long-Term Debt	1,319	1,289	783	544.21	200	411.81
Long-Term Leases	9.85	8.58	3.33	9.05	7.07	4.63
Long-Term Unearned Revenue	297.21	294.05	250.25	201.9	82.7	92.29
Long-Term Deferred Tax Liabilities	55.79	66.25	57.07	50.14	31.62	7.68
Total Liabilities	8,059	7,643	5,180	4,789	4,433	3,084
Common Stock	1,376	1,376	1,372	1,345	837.96	710.97
Additional Paid-In Capital	4,199	4,160	4,181	4,003	4,475	1,292
Retained Earnings	2,151	1,960	1,665	1,829	1,483	989.87
Treasury Stock	-84.57	-84.57	-160	-160.8	-16.54	-33.02
Comprehensive Income & Other	154.11	149.99	-42.49	5.49	5.27	5.62
Total Common Equity	7,796	7,560	7,016	7,021	6,785	2,965
Minority Interest	103.69	123.28	101.42	15.67	2.92	0.95
Shareholders' Equity	7,900	7,684	7,117	7,037	6,788	2,966
Total Liabilities & Equity	15,959	15,327	12,297	11,826	11,220	6,051
Total Debt	3,026	3,157	1,371	961.62	1,457	1,771
Net Cash (Debt)	1,681	1,172	1,538	3,134	2,816	-264.06
Net Cash Growth	139.94%	-23.79%	-50.91%	11.26%	-	-
Net Cash Per Share	1.23	0.86	1.16	2.33	2.08	-0.24
Filing Date Shares Outstanding	1,368	1,368	1,354	1,337	1,341	1,338
Total Common Shares Outstanding	1,368	1,368	1,354	1,337	1,341	1,138
Working Capital	5,061	4,812	3,606	4,853	5,016	1,997
Book Value Per Share	5.70	5.53	5.18	5.25	5.06	2.61
Tangible Book Value	7,449	7,210	6,687	6,804	6,567	2,768
Tangible Book Value Per Share	5.45	5.27	4.94	5.09	4.90	2.43
Land	-	216.45	194.19	232.1	-	-
Buildings	-	1,587	1,111	661.49	591.82	310.52
Machinery	-	1,923	1,587	1,279	1,057	634.91
Construction In Progress	-	329.83	777.73	764.43	394.76	354.62

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