R&G PharmaStudies 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	1,144	1,128	1,069	991.48	1,522	361.6
Trading Asset Securities	574.9	620.12	707.61	712.39	-	-
Cash & Short-Term Investments	1,719	1,748	1,776	1,704	1,522	361.6
Cash Growth	0.68%	-1.61%	4.25%	11.93%	321.00%	23.07%
Accounts Receivable	372.85	337.36	279.37	238.31	222.26	179.76
Other Receivables	2.32	8.75	7.52	7.67	7.29	8.78
Receivables	375.17	346.11	286.89	245.98	229.55	188.54
Inventory	55.8	59.02	65.23	51.26	53.01	43.27
Other Current Assets	11.78	2.48	3.39	5.1	3.75	11.71
Total Current Assets	2,162	2,155	2,132	2,006	1,809	605.11
Property, Plant & Equipment	47.17	51.37	55.58	40.93	52.45	33.75
Long-Term Investments	79.26	79.49	32.78	-	-	-
Goodwill	85.6	85.6	85.6	0.08	0.08	0.08
Other Intangible Assets	15.35	16.25	19.43	17.93	12.83	17.88
Long-Term Deferred Tax Assets	10.95	9.96	8.61	7.62	7.28	4.16
Long-Term Deferred Charges	1.38	1.68	2.4	1.04	1.83	2.51
Other Long-Term Assets	-	-	-	-	-	13.98
Total Assets	2,401	2,400	2,336	2,074	1,883	677.47
Accounts Payable	45.07	46.17	50.97	40.87	32.2	-
Accrued Expenses	38.4	37.52	34.06	32.14	32.89	49.36
Short-Term Debt	-	-	55.14	-	-	-
Current Portion of Leases	-	10.14	8.91	5.99	9.55	7.08
Current Income Taxes Payable	10.78	7.81	6.91	7.17	4.08	2.86
Current Unearned Revenue	199.6	223.25	235.12	200.42	183.22	150.9
Other Current Liabilities	30.16	60.18	45.39	27.78	18.57	24.24
Total Current Liabilities	359.47	385.07	436.49	314.36	280.52	234.43
Long-Term Leases	7.04	7.73	7.81	2.88	6.13	3.9
Long-Term Unearned Revenue	1.6	1.6	0.71	-	-	1
Long-Term Deferred Tax Liabilities	3.28	3.73	4.25	1.76	2.42	0.05
Other Long-Term Liabilities	26.16	25.75	50.83	0.16	0.27	0.28
Total Liabilities	397.56	423.89	500.09	319.17	289.35	239.66
Common Stock	96.58	96.58	96.58	96	60	45
Additional Paid-In Capital	1,062	1,056	1,057	1,057	1,079	17.71
Retained Earnings	861.5	838.67	717.07	596.05	448.52	359.71
Treasury Stock	-22.95	-22.95	-37.96	-	-	-
Comprehensive Income & Other	-0.59	-0.61	-0.08	-0.41	-0.15	0.12
Total Common Equity	1,996	1,968	1,833	1,748	1,588	422.53
Minority Interest	7.63	7.56	3.62	6.24	5.97	15.28
Shareholders' Equity	2,004	1,976	1,836	1,755	1,594	437.81
Total Liabilities & Equity	2,401	2,400	2,336	2,074	1,883	677.47
Total Debt	42.5	17.87	71.86	8.86	15.68	10.98
Net Cash (Debt)	1,676	1,730	1,704	1,695	1,507	350.62
Net Cash Growth	-1.43%	1.49%	0.56%	12.50%	329.70%	19.33%
Net Cash Per Share	17.58	18.07	17.87	17.66	18.33	4.88
Filing Date Shares Outstanding	95.11	95.99	95.14	96	96	72
Total Common Shares Outstanding	95.11	95.99	95.14	96	96	72
Working Capital	1,802	1,770	1,695	1,692	1,528	370.68
Book Value Per Share	20.99	20.50	19.26	18.21	16.54	5.87
Tangible Book Value	1,895	1,866	1,727	1,730	1,575	404.56
Tangible Book Value Per Share	19.93	19.44	18.16	18.02	16.40	5.62
Buildings	-	14.43	14.43	14.43	14.43	-
Machinery	-	80.38	78.02	57.08	56.03	51.4

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