Xi'an NovaStar Tech 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	1,044	925.89	984.91	529.84	416.27	543.85
Trading Asset Securities	125.19	69.33	35.2	-	19.2	19.21
Cash & Short-Term Investments	1,169	995.22	1,020	529.84	435.47	563.06
Cash Growth	20.50%	-2.44%	92.53%	21.67%	-22.66%	0.84%
Accounts Receivable	1,417	1,586	1,389	1,154	874.47	565.17
Other Receivables	13.6	9.17	6.98	4.71	4.99	4.75
Receivables	1,431	1,595	1,396	1,159	879.47	569.92
Inventory	1,502	1,379	1,576	1,264	828.95	493.75
Prepaid Expenses	-	0.65	1.34	1.24	-	-
Other Current Assets	117.68	103.97	79.66	71.3	45.94	23.68
Total Current Assets	4,220	4,074	4,074	3,025	2,190	1,650
Property, Plant & Equipment	861.11	869.85	842.58	755.8	607.63	339.44
Long-Term Investments	734.26	681.73	396.59	278.28	119.56	105.4
Goodwill	10.98	10.98	18.45	19.76	19.76	19.76
Other Intangible Assets	41.68	43.68	42.49	36.71	34.92	32.52
Long-Term Deferred Tax Assets	37.26	37.55	24.16	19.1	18.24	8.15
Long-Term Deferred Charges	9.99	11.96	10.7	10.66	6.17	2.67
Other Long-Term Assets	14.76	34.96	30.86	28.97	20.67	13.58
Total Assets	5,930	5,765	5,440	4,174	3,017	2,172
Accounts Payable	595.86	674.47	713.25	777.61	558.51	430.3
Accrued Expenses	240.5	345.2	283.72	291.08	184.3	152.63
Short-Term Debt	309.78	276.76	56.84	52.54	90.69	60.06
Current Portion of Long-Term Debt	58.22	21.16	53.83	132.5	48.16	24.18
Current Portion of Leases	-	21.69	20.5	13.23	11.26	9.67
Current Income Taxes Payable	44.83	51.14	30.83	33.67	5.59	5.77
Current Unearned Revenue	63.95	60.15	43.89	41.09	24.8	29.98
Other Current Liabilities	268.65	220.79	213.97	124.13	214.7	135.18
Total Current Liabilities	1,582	1,671	1,417	1,466	1,138	847.77
Long-Term Debt	442.74	241.5	267.97	477.23	277.9	119.5
Long-Term Leases	10.44	15.79	32.11	28.8	31.47	2.69
Long-Term Unearned Revenue	15	14.49	13.7	10.67	5.65	3.82
Long-Term Deferred Tax Liabilities	34.76	31.93	29.73	29.84	27.3	19.4
Other Long-Term Liabilities	10	10	10	10	10	10
Total Liabilities	2,095	1,985	1,770	2,022	1,490	1,003
Common Stock	92.45	92.45	92.45	38.52	38.52	38.52
Additional Paid-In Capital	2,099	2,080	2,042	591.23	591.23	552.95
Retained Earnings	2,123	2,028	1,550	1,460	852.53	544.23
Treasury Stock	-599.46	-511.4	-85.09	-	-	-
Comprehensive Income & Other	113.25	84.38	62.35	62.65	44.16	33.02
Total Common Equity	3,829	3,774	3,662	2,152	1,526	1,169
Minority Interest	5.98	6.17	7.73	-	-0	-
Shareholders' Equity	3,835	3,780	3,669	2,152	1,526	1,169
Total Liabilities & Equity	5,930	5,765	5,440	4,174	3,017	2,172
Total Debt	821.18	576.9	431.25	704.31	459.49	216.1
Net Cash (Debt)	347.7	418.32	588.87	-174.47	-24.02	346.96
Net Cash Growth	-21.43%	-28.96%	-	-	-	-37.86%
Net Cash Per Share	3.83	4.58	6.52	-2.52	-0.35	5.00
Filing Date Shares Outstanding	88.87	88.87	91.42	92.45	69.34	69.34
Total Common Shares Outstanding	88.87	89.35	91.99	69.34	69.34	69.34
Working Capital	2,638	2,403	2,657	1,559	1,052	802.62
Book Value Per Share	43.09	42.24	39.80	31.04	22.02	16.86
Tangible Book Value	3,776	3,719	3,601	2,096	1,472	1,116
Tangible Book Value Per Share	42.49	41.62	39.14	30.22	21.23	16.10
Buildings	-	803.11	566.09	349.73	75.8	75.8
Machinery	-	199.24	174.73	126.42	87.9	55.71
Construction In Progress	-	-	168.77	312.83	450.54	226.77

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