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	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	607.52	679.57	449.67	790.15	1,008	964.1
Short-Term Investments	10	10	330	16.3	-	445
Cash & Short-Term Investments	617.52	689.57	779.67	806.45	1,008	1,409
Cash Growth	-15.66%	-11.55%	-3.32%	-20.03%	-28.43%	18.73%
Receivables	72.99	118.29	89.41	65.33	48.57	54.81
Inventory	90.89	74.75	39.88	44.83	31.62	18.95
Restricted Cash	100	100	100	-	-	-
Other Current Assets	32.64	36.68	41.53	23	35.67	18.02
Total Current Assets	914.04	1,019	1,050	939.61	1,124	1,501
Property, Plant & Equipment	62.59	66.54	69.46	68.58	77.38	57.29
Long-Term Investments	-	-	-	9.22	6.43	15.61
Other Intangible Assets	88.66	79	58.93	16.46	8.4	9.66
Long-Term Deferred Tax Assets	4.85	3.39	-	-	-	-
Other Long-Term Assets	4.66	4.17	6.88	2.43	3.6	26.52
Total Assets	1,075	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	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	136.69	141.61	100.91	112.99	65.97	126.16
Accrued Expenses	41.52	50.82	46.77	58.16	44.21	45.01
Short-Term Debt	238.1	204.53	131.71	-	-	-
Current Portion of Leases	5.03	6.34	8.05	7.1	7.05	5.93
Current Income Taxes Payable	4.02	5.3	5.15	16.99	13.28	8.82
Other Current Liabilities	3.22	7.56	6.8	7.83	9.32	6.99
Total Current Liabilities	428.58	416.17	299.39	203.07	139.84	192.9
Long-Term Leases	11.45	13.39	13.71	8.05	13.34	9.61
Long-Term Unearned Revenue	27.5	27.33	31.43	28.74	21.36	27.49
Other Long-Term Liabilities	0.23	-	0.33	0.33	-	-
Total Liabilities	467.76	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	Jun 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	3,371	3,343	3,264	2,975	2,893	2,826
Retained Earnings	-2,730	-2,629	-2,453	-2,196	-1,861	-1,418
Treasury Stock	-33.52	-29.05	-20.84	-20.84	-11.86	-4.28
Comprehensive Income & Other	0.21	29.7	50.52	37.63	25.69	-23.65
Total Common Equity	607.04	715.5	840.9	796.12	1,046	1,380
Shareholders' Equity	607.04	715.5	840.9	796.12	1,046	1,380
Total Liabilities & Equity	1,075	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	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	254.58	224.26	153.47	15.15	20.39	15.54
Net Cash (Debt)	362.95	465.31	626.2	791.3	988.08	1,394
Net Cash Growth	-32.88%	-25.69%	-20.87%	-19.91%	-29.10%	19.29%
Net Cash Per Share	3.28	4.25	6.33	8.19	10.31	14.99
Filing Date Shares Outstanding	112.27	110.64	107.58	98.72	96.02	96.41
Total Common Shares Outstanding	112.24	110.64	107.77	97.22	96.02	95.5
Working Capital	485.45	603.12	751.1	736.54	984.49	1,308
Book Value Per Share	5.41	6.47	7.80	8.19	10.89	14.45
Tangible Book Value	518.38	636.5	781.96	779.66	1,037	1,370
Tangible Book Value Per Share	4.62	5.75	7.26	8.02	10.80	14.35
Buildings	25.38	24.6	-	-	-	-
Machinery	52.82	50.35	48.65	48.23	44.38	37.76
Construction In Progress	0.95	0.55	25.13	24.27	24.25	11.33
Leasehold Improvements	14.44	14.05	11.31	11.37	11.3	10.43

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 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:

Aug 18, 2026

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