Qiniu Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	205.61	451.93	166.38	187.4	285.52	140.13
Short-Term Investments	192.79	65.81	115.87	110.31	58.32	402.89
Trading Asset Securities	-	-	0.05	-	-	-
Cash & Short-Term Investments	398.39	517.74	282.29	297.71	343.84	543.02
Cash Growth	41.13%	83.41%	-5.18%	-13.42%	-36.68%	102.34%
Accounts Receivable	457.63	438.4	293.49	202.21	274.52	161.96
Other Receivables	-	0.81	2.75	5.92	11.68	26.07
Receivables	457.63	439.21	296.23	208.13	286.2	190.03
Inventory	5.05	7.83	25.79	39.09	43.96	-
Restricted Cash	2.23	7.86	-	1.02	0.64	-
Other Current Assets	25.14	26.03	17.66	7.35	14.14	18.33
Total Current Assets	888.44	998.67	621.97	553.29	688.78	751.38
Property, Plant & Equipment	103.24	117.38	139.62	197.92	274.27	139.4
Long-Term Investments	86.97	86.26	98.19	152.87	121.71	65.23
Other Intangible Assets	0.38	-	-	-	0.3	1.53
Total Assets	1,079	1,202	859.78	904.08	1,085	957.54
Accounts Payable	286.12	311.32	230.96	144.06	148.69	43.41
Accrued Expenses	-	109.78	68.84	67.83	84.76	130.2
Short-Term Debt	199.97	196.1	198.6	159.8	100	10
Current Portion of Long-Term Debt	-	-	3.29	15.71	15.11	2.01
Current Portion of Leases	7.48	12.89	7.54	11.93	14.87	3.52
Current Income Taxes Payable	0.02	0.03	-	-	-	-
Current Unearned Revenue	86.42	95.27	115.32	105.59	127.6	99.62
Other Current Liabilities	82.44	26.8	32.76	58.38	126.85	119.34
Total Current Liabilities	662.45	752.2	657.29	563.3	617.88	408.1
Long-Term Debt	-	-	-	3.29	19	-
Long-Term Leases	9.28	14.38	2.51	7.01	13.98	-
Long-Term Unearned Revenue	1.63	0.25	0.34	-	0.23	3.66
Total Liabilities	673.36	766.82	660.14	573.61	651.09	411.76
Common Stock	1.42	1.42	0.03	0.03	0.03	0.03
Additional Paid-In Capital	3,905	3,905	-	-	-	-
Retained Earnings	-3,473	-3,439	-2,980	-2,656	-2,443	-2,351
Comprehensive Income & Other	-28.25	-31.86	-35.45	-20.34	204.73	41.43
Total Common Equity	405.66	435.48	-3,015	-2,676	-2,238	-2,310
Shareholders' Equity	405.66	435.48	199.64	330.48	433.96	545.78
Total Liabilities & Equity	1,079	1,202	859.78	904.08	1,085	957.54
Total Debt	216.73	223.37	211.94	197.74	162.97	15.53
Net Cash (Debt)	181.66	294.37	70.36	99.97	180.87	527.48
Net Cash Growth	158.20%	318.39%	-29.62%	-44.73%	-65.71%	166.07%
Net Cash Per Share	0.12	0.39	0.16	0.23	0.41	1.20
Filing Date Shares Outstanding	1,997	1,997	437.91	437.91	437.91	437.91
Total Common Shares Outstanding	1,997	1,997	437.91	437.91	437.91	437.91
Working Capital	225.99	246.47	-35.32	-10.01	70.9	343.28
Book Value Per Share	0.20	0.22	-6.89	-6.11	-5.11	-5.27
Tangible Book Value	405.28	435.48	-3,015	-2,676	-2,239	-2,311
Tangible Book Value Per Share	0.20	0.22	-6.89	-6.11	-5.11	-5.28
Machinery	-	555.5	517.93	524.66	514.35	377.36
Leasehold Improvements	-	21.28	19.6	6.8	6.54	14.48

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