Z.AI Co., Ltd. (HKG:2513)

Z.AI Co., Ltd. Balance Sheet

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

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Cash & Equivalents	3,994	2,259	2,269	1,249	219.03
Short-Term Investments	78.4	179.13	67.91	16.58	13.73
Trading Asset Securities	506.14	377.29	42.62	158.9	31.78
Cash & Short-Term Investments	4,578	2,816	2,380	1,425	264.54
Cash Growth	39.47%	18.31%	67.02%	438.63%	-
Accounts Receivable	785.42	304.83	95.85	17.86	7.02
Other Receivables	89.46	40.13	281.69	219.14	1.83
Receivables	874.88	344.97	377.55	237	8.85
Inventory	87.1	125.82	32.47	28.78	10.34
Prepaid Expenses	1,244	116.3	127.37	88.3	11.63
Other Current Assets	209.72	168.77	98.73	84.53	4.17
Total Current Assets	6,994	3,571	3,016	1,863	299.53
Property, Plant & Equipment	855.06	655.83	866.36	787.54	41.42
Long-Term Investments	532.13	338.08	306.54	115.14	-
Goodwill	283.82	39.38	39.38	39.38	-
Other Intangible Assets	67.8	50.96	50.36	54.57	21.03
Long-Term Accounts Receivable	-	13.63	7.76	0.05	-
Other Long-Term Assets	912.33	184.57	89.5	-	-
Total Assets	9,645	4,854	4,376	2,860	361.98

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Accounts Payable	241.59	297.14	58.29	6.75	0.66
Accrued Expenses	1,601	916.67	462.75	154.12	16.9
Short-Term Debt	-	-	269.4	-	-
Current Portion of Long-Term Debt	789.83	604.84	-	-	-
Current Portion of Leases	161.71	251.32	213.16	66.77	12.83
Current Income Taxes Payable	17.52	39.77	22.3	11.04	3.4
Current Unearned Revenue	302.33	148.64	75.06	74.06	35.23
Other Current Liabilities	275.31	10,148	6,737	3,296	462.83
Total Current Liabilities	3,390	12,406	7,838	3,609	531.86
Long-Term Debt	1,435	84.62	-	-	-
Long-Term Leases	217.7	293.83	458.11	204.12	-
Long-Term Unearned Revenue	172.99	180.15	34.75	29.74	10.31
Total Liabilities	5,215	12,965	8,331	3,843	542.16

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Common Stock	44.58	40.28	36.22	28.48	14.81
Retained Earnings	-	-4,409	-3,954	-997.84	-209.88
Comprehensive Income & Other	4,372	-3,724	-38.52	-13.23	13.72
Total Common Equity	4,417	-8,093	-3,957	-982.59	-181.35
Minority Interest	12.51	-18.48	1.48	-	1.17
Shareholders' Equity	4,430	-8,111	-3,955	-982.59	-180.19
Total Liabilities & Equity	9,645	4,854	4,376	2,860	361.98

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Total Debt	2,604	1,235	940.67	270.88	12.83
Net Cash (Debt)	1,974	1,581	1,439	1,154	251.71
Net Cash Growth	-22.46%	9.86%	24.70%	358.47%	-
Net Cash Per Share	6.67	9.91	9.00	7.64	1.89
Filing Date Shares Outstanding	432.36	445.84	362.24	151.01	133.2
Total Common Shares Outstanding	432.36	402.81	362.24	151.01	133.2
Working Capital	3,604	-8,835	-4,822	-1,745	-232.32
Book Value Per Share	10.22	-20.09	-10.92	-6.51	-1.36
Tangible Book Value	4,065	-8,183	-4,046	-1,077	-202.38
Tangible Book Value Per Share	9.40	-20.31	-11.17	-7.13	-1.52
Machinery	-	301.51	295.08	535.74	35.09
Leasehold Improvements	-	24	19.97	19.12	-

Data Source: S&P Global Market Intelligence Last updated: Aug 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Sep 10, 2026

Data Sources Report a data error