R&G PharmaStudies 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	1,128	1,069	991.48	1,522	361.6
Trading Asset Securities	620.12	707.61	712.39	-	-
Cash & Short-Term Investments	1,748	1,776	1,704	1,522	361.6
Cash Growth	-1.61%	4.25%	11.93%	321.00%	23.07%
Accounts Receivable	337.36	279.37	238.31	222.26	179.76
Other Receivables	3.41	7.52	7.67	7.29	8.78
Receivables	340.77	286.89	245.98	229.55	188.54
Inventory	59.02	65.23	51.26	53.01	43.27
Other Current Assets	7.82	3.39	5.1	3.75	11.71
Total Current Assets	2,155	2,132	2,006	1,809	605.11
Property, Plant & Equipment	51.37	55.58	40.93	52.45	33.75
Long-Term Investments	79.49	32.78	-	-	-
Goodwill	85.6	85.6	0.08	0.08	0.08
Other Intangible Assets	16.25	19.43	17.93	12.83	17.88
Long-Term Deferred Tax Assets	9.96	8.61	7.62	7.28	4.16
Long-Term Deferred Charges	1.68	2.4	1.04	1.83	2.51
Other Long-Term Assets	-	-	-	-	13.98
Total Assets	2,400	2,336	2,074	1,883	677.47
Accounts Payable	46.17	50.97	40.87	32.2	-
Accrued Expenses	35.15	34.06	32.14	32.89	49.36
Short-Term Debt	-	55.14	-	-	-
Current Portion of Long-Term Debt	36.8	-	-	-	-
Current Portion of Leases	-	8.91	5.99	9.55	7.08
Current Income Taxes Payable	12.62	6.91	7.17	4.08	2.86
Current Unearned Revenue	223.25	235.12	200.42	183.22	150.9
Other Current Liabilities	31.09	45.39	27.78	18.57	24.24
Total Current Liabilities	385.07	436.49	314.36	280.52	234.43
Long-Term Leases	7.73	7.81	2.88	6.13	3.9
Long-Term Unearned Revenue	1.6	0.71	-	-	1
Long-Term Deferred Tax Liabilities	3.73	4.25	1.76	2.42	0.05
Other Long-Term Liabilities	25.75	50.83	0.16	0.27	0.28
Total Liabilities	423.89	500.09	319.17	289.35	239.66
Common Stock	96.58	96.58	96	60	45
Additional Paid-In Capital	1,056	1,057	1,057	1,079	17.71
Retained Earnings	838.67	717.07	596.05	448.52	359.71
Treasury Stock	-22.95	-37.96	-	-	-
Comprehensive Income & Other	-0.61	-0.08	-0.41	-0.15	0.12
Total Common Equity	1,968	1,833	1,748	1,588	422.53
Minority Interest	7.56	3.62	6.24	5.97	15.28
Shareholders' Equity	1,976	1,836	1,755	1,594	437.81
Total Liabilities & Equity	2,400	2,336	2,074	1,883	677.47
Total Debt	44.53	71.86	8.86	15.68	10.98
Net Cash (Debt)	1,703	1,704	1,695	1,507	350.62
Net Cash Growth	-0.08%	0.56%	12.50%	329.70%	19.33%
Net Cash Per Share	17.79	17.87	17.66	18.33	4.88
Filing Date Shares Outstanding	96.24	95.14	96	96	72
Total Common Shares Outstanding	96.24	95.14	96	96	72
Working Capital	1,770	1,695	1,692	1,528	370.68
Book Value Per Share	20.45	19.26	18.21	16.54	5.87
Tangible Book Value	1,866	1,727	1,730	1,575	404.56
Tangible Book Value Per Share	19.39	18.16	18.02	16.40	5.62
Buildings	-	14.43	14.43	14.43	-
Machinery	-	78.02	57.08	56.03	51.4

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