Minami Acoustics 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	745.05	814.04	632.41	1,011	169.96	240.93
Short-Term Investments	-	-	361.14	300.95	-	-
Trading Asset Securities	50.25	-	310.99	-	-	5.44
Cash & Short-Term Investments	795.3	814.04	1,305	1,312	169.96	246.37
Cash Growth	-13.69%	-37.60%	-0.56%	671.85%	-31.02%	87.49%
Accounts Receivable	351.95	321.43	433.99	458.21	274	218.46
Other Receivables	24.4	36.89	45.31	24.5	9.31	9.48
Receivables	376.36	358.32	479.3	482.71	283.31	227.93
Inventory	286.75	313.89	325.22	211.17	157.37	136.46
Other Current Assets	371.88	367.05	90.15	67.8	38.83	19.15
Total Current Assets	1,830	1,853	2,199	2,074	649.47	629.92
Property, Plant & Equipment	523.59	518.98	484.06	387.23	363.15	244.56
Other Intangible Assets	67.59	68.06	27.61	27.22	26.12	26.19
Long-Term Deferred Tax Assets	53.78	43.54	31.05	29.07	30.01	18.8
Long-Term Deferred Charges	18.53	20	8.76	0.22	1.87	2.89
Other Long-Term Assets	10.51	8.48	6.15	38.04	31.95	34.34
Total Assets	2,504	2,512	2,757	2,555	1,103	956.71
Accounts Payable	390.55	352.06	519.88	564.03	352.74	384.19
Accrued Expenses	35.78	32.52	48.71	42.1	28.22	27.8
Short-Term Debt	-	-	-	-	47.2	24.35
Current Portion of Long-Term Debt	4.15	5.86	-	0.03	25.27	0.06
Current Portion of Leases	-	-	1.57	1.27	1.87	4.02
Current Income Taxes Payable	4.03	10.83	6.06	0.54	9.57	16.67
Current Unearned Revenue	28.43	36.25	28.06	9.04	7.49	2.33
Other Current Liabilities	23.06	21.23	16.24	7.17	16.53	1.33
Total Current Liabilities	486.01	458.76	620.53	624.18	488.89	460.74
Long-Term Debt	-	-	-	0	47.05	18.34
Long-Term Leases	14.62	17.79	10.04	0.74	1.5	9.11
Long-Term Unearned Revenue	51.61	52.81	56.26	59.43	58.14	33.34
Long-Term Deferred Tax Liabilities	-	-	0.23	0.08	0.22	3.18
Other Long-Term Liabilities	1.17	1.8	3.84	0.52	0.04	0.07
Total Liabilities	553.42	531.16	690.9	684.94	595.83	524.78
Common Stock	163.36	163.27	162.88	116.24	87.18	87.18
Additional Paid-In Capital	1,387	1,380	1,366	1,389	191.25	184.95
Retained Earnings	397.56	432	529.87	359.99	223.89	157.04
Treasury Stock	-3.07	-1.45	-2.2	-	-	-
Comprehensive Income & Other	5.67	6.52	3.99	1.2	0.92	0.37
Total Common Equity	1,950	1,980	2,061	1,867	503.24	429.54
Minority Interest	0.75	0.79	4.93	3.86	3.49	2.39
Shareholders' Equity	1,951	1,981	2,066	1,870	506.74	431.93
Total Liabilities & Equity	2,504	2,512	2,757	2,555	1,103	956.71
Total Debt	18.77	23.66	11.61	2.04	122.89	55.88
Net Cash (Debt)	776.52	790.38	1,293	1,310	47.07	190.5
Net Cash Growth	-14.69%	-38.87%	-1.29%	2682.66%	-75.29%	161.87%
Net Cash Per Share	4.82	4.83	7.94	9.24	0.39	1.56
Filing Date Shares Outstanding	164.02	182.55	162.95	162.74	122.05	122.05
Total Common Shares Outstanding	164.02	182.55	162.95	162.74	122.05	122.05
Working Capital	1,344	1,395	1,579	1,449	160.58	169.18
Book Value Per Share	11.89	10.85	12.65	11.47	4.12	3.52
Tangible Book Value	1,883	1,912	2,033	1,839	477.12	403.35
Tangible Book Value Per Share	11.48	10.48	12.48	11.30	3.91	3.30
Buildings	-	-	357.09	313.83	86.06	86.06
Machinery	-	-	253.55	179.27	134.98	104.01
Construction In Progress	-	-	8.69	1.93	223.27	108.22

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