Zai Lab Limited (HKG:9688)

Zai Lab Balance Sheet

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

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	549.66	679.57	449.67	790.15	1,008	964.1
Short-Term Investments	10	10	330	16.3	-	445
Cash & Short-Term Investments	559.66	689.57	779.67	806.45	1,008	1,409
Cash Growth	-21.96%	-11.55%	-3.32%	-20.03%	-28.43%	18.73%
Receivables	75.4	118.29	89.41	65.33	48.57	54.81
Inventory	85.29	74.75	39.88	44.83	31.62	18.95
Restricted Cash	100	100	100	-	-	-
Other Current Assets	44.05	36.68	41.53	23	35.67	18.02
Total Current Assets	864.4	1,019	1,050	939.61	1,124	1,501
Property, Plant & Equipment	60.98	66.54	69.46	68.58	77.38	57.29
Long-Term Investments	-	-	-	9.22	6.43	15.61
Other Intangible Assets	88.18	79	58.93	16.46	8.4	9.66
Long-Term Deferred Tax Assets	6.48	3.39	-	-	-	-
Other Long-Term Assets	3.86	4.17	6.88	2.43	3.6	26.52
Total Assets	1,024	1,172	1,186	1,036	1,220	1,610

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	120.25	141.61	100.91	112.99	65.97	126.16
Accrued Expenses	38.39	50.82	46.77	58.16	44.21	45.01
Short-Term Debt	252.37	204.53	131.71	-	-	-
Current Portion of Leases	5.53	6.34	8.05	7.1	7.05	5.93
Current Income Taxes Payable	3.47	5.3	5.15	16.99	13.28	8.82
Other Current Liabilities	4.25	7.56	6.8	7.83	9.32	6.99
Total Current Liabilities	424.25	416.17	299.39	203.07	139.84	192.9
Long-Term Leases	9.56	13.39	13.71	8.05	13.34	9.61
Long-Term Unearned Revenue	26.24	27.33	31.43	28.74	21.36	27.49
Other Long-Term Liabilities	0.57	-	0.33	0.33	-	-
Total Liabilities	460.62	456.88	344.86	240.18	174.55	230

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	0.01	0.01	0.01	0.01	0.01	0.01
Additional Paid-In Capital	3,384	3,343	3,264	2,975	2,893	2,826
Retained Earnings	-2,777	-2,629	-2,453	-2,196	-1,861	-1,418
Treasury Stock	-33.76	-29.05	-20.84	-20.84	-11.86	-4.28
Comprehensive Income & Other	-10.86	29.7	50.52	37.63	25.69	-23.65
Total Common Equity	563.28	715.5	840.9	796.12	1,046	1,380
Shareholders' Equity	563.28	715.5	840.9	796.12	1,046	1,380
Total Liabilities & Equity	1,024	1,172	1,186	1,036	1,220	1,610

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	267.45	224.26	153.47	15.15	20.39	15.54
Net Cash (Debt)	292.21	465.31	626.2	791.3	988.08	1,394
Net Cash Growth	-41.30%	-25.69%	-20.87%	-19.91%	-29.10%	19.29%
Net Cash Per Share	0.26	0.42	0.63	0.82	1.03	1.50
Filing Date Shares Outstanding	1,124	1,106	1,076	987.18	960.22	964.09
Total Common Shares Outstanding	1,124	1,106	1,078	972.24	960.22	954.98
Working Capital	440.15	603.12	751.1	736.54	984.49	1,308
Book Value Per Share	0.50	0.65	0.78	0.82	1.09	1.45
Tangible Book Value	475.1	636.5	781.96	779.66	1,037	1,370
Tangible Book Value Per Share	0.42	0.58	0.73	0.80	1.08	1.43
Buildings	25.67	24.6	-	-	-	-
Machinery	54.07	50.35	48.65	48.23	44.38	37.76
Construction In Progress	1.54	0.55	25.13	24.27	24.25	11.33
Leasehold Improvements	14.62	14.05	11.31	11.37	11.3	10.43

Data Source: S&P Global Market Intelligence Last updated: Nov 5, 2026

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

Update frequency:

Quarterly

Last checked:

Nov 10, 2026

Data Sources Report a data error