Ping An Biomedical Co., Ltd. (PASW) Balance Sheet

NASDAQ: PASWAssets, liabilities, debt and equity over 5 years.

PASW balance sheet, FY2025

September 30, 2025 · Chinese yuan

CN¥68.4M assets = CN¥23.2M liabilities + CN¥45.2M equity

Both columns are drawn to the same scale: what PASW owns equals what it owes plus shareholders’ equity. Hover a block for its value.

PASW financial health

Current ratio2.76

Comfortable · current assets cover current liabilities 2.76×

Debt / equity0.23

Low leverage · CN¥0.23 of debt for each $1 of equity

Equity / assets66.1%

Equity-funded · of assets funded by shareholders

Cash / debt11.2%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2025.

PASW balance sheet trends, FY2021–FY2025

Ping An Biomedical Co., Ltd. balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥73.7MFY2021	CN¥68.4MFY2025	−1.8%/yr
Total liabilities	CN¥75.8MFY2021	CN¥23.2MFY2025	−25.6%/yr
Shareholders’ equity	−CN¥2.1MFY2021	CN¥45.2MFY2025	—
Cash & short-term investments	CN¥105,710FY2021	CN¥1.2MFY2025	+82.5%/yr
Total debt	CN¥29.0MFY2021	CN¥10.5MFY2025	−22.5%/yr
Net cash (debt)	−CN¥28.8MFY2021	−CN¥9.3MFY2025	+CN¥19.6M
Working capital	−CN¥5.3MFY2021	CN¥40.6MFY2025	+CN¥46.0M
Current ratio	0.93FY2021	2.76FY2025	+1.83
Debt / equity	7.73FY2022	0.23FY2025	−7.50
Shares outstanding	13.8MFY2021	20.5MFY2025	+10.5%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

PASW assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

PASW liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PASW debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

PASW balance sheet in Chinese yuan

Ping An Biomedical Co., Ltd. annual balance sheet
	FY2025	FY2024	FY2023	FY2022	FY2021
Assets
Cash & short-term investments	CN¥1.2M	CN¥130,923	CN¥591,874	CN¥1.2M	CN¥105,710
Cash & equivalents	CN¥1.2M	CN¥130,923	CN¥591,874	CN¥1.2M	CN¥105,710
Receivables	CN¥17.2M	CN¥40.5M	CN¥61.1M	CN¥67.6M	CN¥49.8M
Inventory	CN¥441,904	CN¥127,296	CN¥3.2M	CN¥4.6M	CN¥16.0M
Other current assets	CN¥44.8M	CN¥12.5M	CN¥11.7M	CN¥5.7M	CN¥4.5M
Total current assets	CN¥63.7M	CN¥53.3M	CN¥76.6M	CN¥79.0M	CN¥70.4M
Property, plant & equipment (net)	CN¥467,577	CN¥817,404	CN¥539,618	CN¥182,582	CN¥572,246
Goodwill & intangible assets	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥4.2M	CN¥2.7M	CN¥2.7M	CN¥2.7M	CN¥2.8M
Total assets	CN¥68.4M	CN¥56.8M	CN¥79.8M	CN¥81.9M	CN¥73.7M
Liabilities
Accounts payable	CN¥9.4M	CN¥15.1M	CN¥9.3M	CN¥18.0M	CN¥7.1M
Short-term debt	CN¥10.4M	CN¥10.4M	CN¥42.9M	CN¥35.6M	CN¥28.9M
Deferred revenue	CN¥69,776	CN¥1.7M	CN¥531,326	CN¥272,647	CN¥1.7M
Total current liabilities	CN¥23.1M	CN¥63.6M	CN¥85.6M	CN¥77.3M	CN¥75.7M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥467,577	CN¥811,819	CN¥456,534	CN¥66,742	CN¥456,534
Other long-term liabilities	CN¥95,698	CN¥461,453	CN¥66,742	CN¥0	CN¥66,742
Total liabilities	CN¥23.2M	CN¥64.0M	CN¥85.7M	CN¥77.3M	CN¥75.8M
Shareholders' equity
Common stock & paid-in capital	CN¥8,399	CN¥7,272	CN¥7,272	CN¥7,272	CN¥7,272
Retained earnings (deficit)	−CN¥21.0M	−CN¥8.2M	−CN¥6.6M	CN¥4.4M	−CN¥2.1M
Accumulated other comprehensive income	CN¥68,428	CN¥1.0M	CN¥713,288	CN¥143,889	CN¥6,904
Total shareholders' equity	CN¥45.2M	−CN¥7.2M	−CN¥5.9M	CN¥4.6M	−CN¥2.1M
Key figures
Total debt	CN¥10.5M	CN¥10.8M	CN¥43.0M	CN¥35.6M	CN¥29.0M
Net cash (debt)	−CN¥9.3M	−CN¥10.7M	−CN¥42.4M	−CN¥34.4M	−CN¥28.8M
Working capital	CN¥40.6M	−CN¥10.3M	−CN¥9.1M	CN¥1.7M	−CN¥5.3M
Tangible book value	CN¥45.2M	−CN¥7.2M	−CN¥5.9M	CN¥4.6M	−CN¥2.1M
Shares outstanding	20.5M	20.5M	20.5M	20.5M	13.8M
Current ratio	2.76	0.84	0.89	1.02	0.93
Quick ratio	0.80	0.64	0.72	0.89	0.66
Debt / equity	0.23	—	—	7.73	—
Equity / assets	66.1%	−12.6%	−7.3%	5.6%	−2.8%

Ping An Biomedical Co., Ltd. quarterly balance sheet
	Sep '25	Sep '24	Mar '24
Assets
Cash & short-term investments	CN¥1.2M	CN¥130,923	CN¥969,621
Cash & equivalents	CN¥1.2M	CN¥130,923	CN¥969,621
Receivables	CN¥17.2M	CN¥40.5M	CN¥62.2M
Inventory	CN¥441,904	CN¥127,296	CN¥2.3M
Other current assets	CN¥44.8M	CN¥12.5M	CN¥10.4M
Total current assets	CN¥63.7M	CN¥53.3M	CN¥75.8M
Property, plant & equipment (net)	CN¥467,577	CN¥817,404	CN¥1.0M
Goodwill & intangible assets	CN¥0	CN¥0	CN¥0
Long-term investments	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥4.2M	CN¥2.7M	CN¥2.7M
Total assets	CN¥68.4M	CN¥56.8M	CN¥79.6M
Liabilities
Accounts payable	CN¥9.4M	CN¥15.1M	CN¥24.0M
Short-term debt	CN¥10.4M	CN¥10.4M	CN¥13.5M
Deferred revenue	CN¥69,776	CN¥1.7M	CN¥99,479
Total current liabilities	CN¥23.1M	CN¥63.6M	CN¥84.5M
Long-term debt	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥467,577	CN¥811,819	CN¥1.0M
Other long-term liabilities	CN¥95,698	CN¥461,453	CN¥653,407
Total liabilities	CN¥23.2M	CN¥64.0M	CN¥85.1M
Shareholders' equity
Common stock & paid-in capital	CN¥8,399	CN¥7,272	CN¥7,272
Retained earnings (deficit)	−CN¥21.0M	−CN¥8.2M	−CN¥6.3M
Accumulated other comprehensive income	CN¥68,428	CN¥1.0M	CN¥776,875
Total shareholders' equity	CN¥45.2M	−CN¥7.2M	−CN¥5.6M
Key figures
Total debt	CN¥10.5M	CN¥10.8M	CN¥14.1M
Net cash (debt)	−CN¥9.3M	−CN¥10.7M	−CN¥13.2M
Working capital	CN¥40.6M	−CN¥10.3M	−CN¥8.6M
Tangible book value	CN¥45.2M	−CN¥7.2M	−CN¥5.6M
Shares outstanding	20.5M	20.5M	20.5M
Current ratio	2.76	0.84	0.90
Quick ratio	0.80	0.64	0.75
Debt / equity	0.23	—	—
Equity / assets	66.1%	−12.6%	−7.0%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed September 30, 2025); data from EODHD.

PASW financial position

At the end of fiscal 2025 (September 30, 2025), Ping An Biomedical had total assets of CN¥68.4 million (up 20.3% from a year earlier), total liabilities of CN¥23.2 million and shareholders' equity of CN¥45.2 million. It held CN¥1.2 million in cash and short-term investments against CN¥10.5 million of debt, net debt of CN¥9.3 million. Its current ratio was 2.76.

Related: PASW income statement, PASW cash flow statement, PASW key metrics. See the PASW stock overview for the latest quote and news.

PASW balance sheet FAQ

What are Ping An Biomedical's total assets?

Ping An Biomedical reported total assets of CN¥68.4 million at the end of fiscal 2025 (September 30, 2025), compared with CN¥56.8 million a year earlier.

How much debt does Ping An Biomedical have?

Ping An Biomedical had CN¥10.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.23.

How much cash does Ping An Biomedical have?

Ping An Biomedical held CN¥1.2 million in cash and short-term investments at the end of fiscal 2025; with CN¥10.5 million of debt that is net debt of CN¥9.3 million.

What is Ping An Biomedical's book value?

Ping An Biomedical's shareholders' equity (book value) was CN¥45.2 million at the end of fiscal 2025.

What is Ping An Biomedical's current ratio?

Ping An Biomedical had current assets of CN¥63.7 million and current liabilities of CN¥23.1 million, a current ratio of 2.76 (it can cover its short-term obligations).