Morn Sun Feed Mill Balance Sheet

Financials in millions TWD. Fiscal year is January - December.

Millions TWD. 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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	102.95	156.31	70.93	75.19	55.53	76.81
Short-Term Investments	178.11	155.11	187.4	296.93	298.3	272.45
Trading Asset Securities	168.63	120.16	120.35	41.45	20.26	23.56
Cash & Short-Term Investments	449.69	431.57	378.68	413.57	374.09	372.82
Cash Growth	26.18%	13.97%	-8.44%	10.55%	0.34%	8.33%
Accounts Receivable	536.99	507.34	533.38	540.73	554.22	500.8
Other Receivables	0.66	1	1.78	1.59	1.39	0.36
Receivables	537.65	508.34	535.17	542.32	555.61	501.16
Inventory	146.5	153.45	166.16	214.7	291.65	222
Prepaid Expenses	-	3.08	4.77	2.82	2.75	8.35
Other Current Assets	86.94	86.35	91.74	77.13	107.89	90.71
Total Current Assets	1,221	1,183	1,177	1,251	1,332	1,195
Property, Plant & Equipment	458.81	455.04	454.37	445.43	453.75	475.36
Long-Term Investments	518.1	499.27	430.9	409.89	361.37	402.38
Other Intangible Assets	0.44	0.5	0.11	0.21	0.26	0.31
Long-Term Deferred Tax Assets	16.52	17.07	15.89	16.43	17.28	17.5
Other Long-Term Assets	60.83	67.98	63.47	60.91	49.61	41.61
Total Assets	2,275	2,223	2,141	2,183	2,214	2,132
Accounts Payable	207.15	199.52	178.31	232.53	285.08	255.73
Accrued Expenses	-	73.78	64.63	57.79	34.96	56.06
Short-Term Debt	301.57	296.89	283.38	394.83	521.88	332.05
Current Portion of Long-Term Debt	-	3.66	-	-	-	-
Current Portion of Leases	8.84	8.63	5.97	4.79	6.72	7.92
Current Income Taxes Payable	10.09	1.6	21.35	29.08	-	18.46
Current Unearned Revenue	2.67	3.34	0.71	0.75	3.24	7.35
Other Current Liabilities	80.27	20.33	22.36	17.26	12.68	16.97
Total Current Liabilities	610.59	607.74	576.7	737.04	864.56	694.54
Long-Term Debt	10.11	11.34	35	-	-	20
Long-Term Leases	17.34	18.1	13.95	11.33	12.4	17.97
Long-Term Deferred Tax Liabilities	18.83	20.99	20.59	20.02	19.34	19.06
Other Long-Term Liabilities	0.62	0.73	1.03	0.2	0.2	0.2
Total Liabilities	657.49	658.91	647.27	768.59	896.5	751.77
Common Stock	442.32	442.32	413.39	393.7	385.98	367.6
Additional Paid-In Capital	144.28	144.28	145.21	145.21	145.21	145.21
Retained Earnings	861.2	821.81	743.14	568.98	451.86	534.2
Comprehensive Income & Other	110.05	94.07	144.49	246.03	247.4	221.55
Total Common Equity	1,558	1,502	1,446	1,354	1,230	1,269
Minority Interest	60.12	61.26	47.75	60.89	87.31	111.86
Shareholders' Equity	1,618	1,564	1,494	1,415	1,318	1,380
Total Liabilities & Equity	2,275	2,223	2,141	2,183	2,214	2,132
Total Debt	337.86	338.61	338.29	410.95	541	377.94
Net Cash (Debt)	111.83	92.96	40.39	2.63	-166.91	-5.13
Net Cash Growth	66.30%	130.16%	1438.04%	-	-	-
Net Cash Per Share	2.53	2.09	0.91	0.06	-3.77	-0.12
Filing Date Shares Outstanding	44.23	44.23	44.23	44.23	44.23	44.23
Total Common Shares Outstanding	44.23	44.23	44.23	44.23	44.23	44.23
Working Capital	610.18	575.05	599.81	513.5	467.43	500.49
Book Value Per Share	35.22	33.97	32.70	30.61	27.82	28.68
Tangible Book Value	1,557	1,502	1,446	1,354	1,230	1,268
Tangible Book Value Per Share	35.21	33.96	32.69	30.60	27.81	28.67
Land	-	110.01	110.01	110.01	110.01	110.01
Buildings	-	323.72	321.95	320.05	308.58	298.76
Machinery	-	237.69	245.06	215.49	195.29	185.43
Construction In Progress	-	1.7	-	-	13.76	23.23
Leasehold Improvements	-	1.5	1.39	1.39	0.91	0.91