| Balance Sheet for Qiao Xing Universal Telephone Inc. (XING) | | | | | | | Assets | in Thousands of Dollars | | | 12/2006 | 12/2005 | 12/2004 | 12/2003 | 12/2002 | | | Cash and Equivalents | 140,500 | 48,532 | 17,023 | 14,796 | 1,323 | | Marketable Securities | - | - | - | 10,293 | - | | Receivables | 161,623 | 133,235 | 87,928 | 34,446 | 34,107 | | Inventories | 29,774 | 28,961 | 35,451 | 18,037 | 30 | | Other Current Assets | 3,464 | 1,667 | 1,735 | 1,823 | 1,604 | | Total Current Assets | 442,063 | 267,134 | 188,859 | 126,180 | 43,078 | | | Gross Fixed Assets | 39,065 | 19,027 | 24,090 | 14,746 | 3,049 | | Accumulated Depreciation | (4,489) | (5,177) | (4,988) | (2,726) | (2,432) | | Net Fixed Assets | 34,576 | 13,850 | 19,102 | 12,020 | 617 | | Intangibles | 11,918 | 27,936 | 20,279 | 44,938 | - | | Other Non-Current Assets | 32,689 | 1,972 | 26,725 | 6,304 | 46,004 | | Total Non-Current Assets | 93,295 | 52,690 | 66,106 | 63,262 | 46,621 | | Total Assets | 535,358 | 319,824 | 254,965 | 189,442 | 89,699 | | | Liabilities | in Thousands of Dollars | | | 12/2006 | 12/2005 | 12/2004 | 12/2003 | 12/2002 | | | Accounts Payable | 28,913 | 41,855 | 36,623 | 21,430 | 166 | | Short Term Debt | 148,036 | 93,456 | 84,782 | 53,279 | 4,831 | | Other Current Liabilities | 51,987 | 12,267 | 4,485 | 12,970 | 4,185 | | Total Current Liabilities | 250,021 | 161,464 | 137,368 | 90,104 | 10,859 | | | Long Term Debt | 29,444 | 986 | 986 | 986 | 986 | | Deferred Income Tax | 1,504 | - | - | - | - | | Other Non-Current Liabilities | - | - | - | - | - | | Minority Interest | 14,765 | 28,649 | 34,272 | 28,131 | 10,514 | | Total Non-Current Liabilities | 45,713 | 29,635 | 35,532 | 29,573 | 11,500 | | Total Liabilities | 295,734 | 191,099 | 172,900 | 119,677 | 22,359 | | | Preferred Stock Equity | - | - | - | - | - | | Common Stock Equity | 239,624 | 128,725 | 82,065 | 69,765 | 67,340 | | Total Equity | 239,624 | 128,725 | 82,065 | 69,765 | 67,340 | | Total Liabilities & Stock Equity | 535,358 | 319,824 | 254,965 | 189,442 | 89,699 | | | |
