Merit Interactive 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	275.12	347.57	397.42	709.81	971.8	1,036
Trading Asset Securities	48.89	48.89	53.42	59.66	74.56	68.64
Cash & Short-Term Investments	324.01	396.45	450.84	769.47	1,046	1,104
Cash Growth	-0.61%	-12.06%	-41.41%	-26.46%	-5.25%	-4.63%
Accounts Receivable	166.45	163.97	169.89	129.58	130.05	170.45
Other Receivables	3.77	2.94	11.07	14.63	12.42	15.9
Receivables	170.21	166.91	180.96	144.2	142.47	186.35
Inventory	26.28	19.48	16.09	6.73	5.52	8.58
Prepaid Expenses	-	0.19	2.23	-	-	1.75
Other Current Assets	17.98	10.01	5.62	15.04	34.12	51.24
Total Current Assets	538.48	593.04	655.74	935.45	1,228	1,352
Property, Plant & Equipment	580.19	587.14	551.96	512.6	421.81	309.73
Long-Term Investments	396.97	397.29	380.09	333.56	268.63	223.28
Other Intangible Assets	199.26	201.26	193.31	167.57	152.56	166.53
Long-Term Deferred Tax Assets	68.16	61.89	54.98	45.46	26.27	27.96
Long-Term Deferred Charges	1.08	1.29	0.76	2.82	23.99	8.21
Other Long-Term Assets	17.84	19.68	16	41.87	29.29	13.46
Total Assets	1,802	1,862	1,853	2,039	2,151	2,101
Accounts Payable	51.64	65.98	57.77	52.6	86.1	104.32
Accrued Expenses	19.81	35.2	29.85	38.38	34.7	49.92
Short-Term Debt	10.15	10.09	-	-	-	-
Current Portion of Long-Term Debt	2.49	-	-	84.19	84.15	64.09
Current Portion of Leases	-	2.91	1.38	1.92	-	5.6
Current Income Taxes Payable	3.87	0.34	-	-	0.02	2.08
Current Unearned Revenue	123.33	137.39	91.99	86.87	83.39	100.81
Other Current Liabilities	3.22	4.12	57.5	7.45	5.81	5.56
Total Current Liabilities	214.51	256.03	238.51	271.41	294.17	332.37
Long-Term Debt	-	-	-	66.22	111.78	22.03
Long-Term Leases	1.81	1.99	0.22	1.43	-	-
Long-Term Unearned Revenue	8.24	8.24	2.34	2.34	-	2.81
Long-Term Deferred Tax Liabilities	3.89	3.98	5.22	5.55	9.46	8.57
Other Long-Term Liabilities	0.49	1.72	26.51	21.12	-	-
Total Liabilities	228.94	271.96	272.8	368.07	415.41	365.78
Common Stock	394.75	394.75	392.17	398.75	400.1	400.1
Additional Paid-In Capital	730.26	729.59	682.61	784.17	799.05	813.1
Retained Earnings	442.04	458.13	493.12	540.75	610.29	603.61
Treasury Stock	-	-	-	-100.01	-124.42	-128.71
Comprehensive Income & Other	-0.99	-0.99	-0.99	-2.62	-1.52	-1.01
Total Common Equity	1,566	1,581	1,567	1,621	1,683	1,687
Minority Interest	6.99	8.16	13.13	50.21	52.12	48.61
Shareholders' Equity	1,573	1,590	1,580	1,671	1,736	1,736
Total Liabilities & Equity	1,802	1,862	1,853	2,039	2,151	2,101
Total Debt	14.45	14.99	1.6	153.76	195.93	91.71
Net Cash (Debt)	309.56	381.46	449.24	615.72	850.43	1,013
Net Cash Growth	-4.64%	-15.09%	-27.04%	-27.60%	-16.02%	-5.52%
Net Cash Per Share	0.78	0.98	1.18	1.60	2.26	2.57
Filing Date Shares Outstanding	394.41	394.75	392.17	392.17	392.17	391.86
Total Common Shares Outstanding	394.41	394.75	392.17	392.17	392.11	391.86
Working Capital	323.98	337.02	417.23	664.04	934.3	1,020
Book Value Per Share	3.97	4.01	4.00	4.13	4.29	4.31
Tangible Book Value	1,367	1,380	1,374	1,453	1,531	1,521
Tangible Book Value Per Share	3.47	3.50	3.50	3.71	3.90	3.88
Buildings	-	522.06	502.48	318.76	-	-
Machinery	-	261.94	228.54	191.92	167.62	154.94
Construction In Progress	-	-	-	152	391.43	265.06