NetEase Cloud Music Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	3,118	3,795	4,020	2,917	853.45
Short-Term Investments	9,057	6,421	5,485	6,192	5,528
Trading Asset Securities	-	6.52	-	-	240.77
Cash & Short-Term Investments	12,175	10,222	9,505	9,108	6,622
Cash Growth	19.10%	7.55%	4.36%	37.54%	38.12%
Accounts Receivable	1,097	1,088	1,022	696.65	802.02
Other Receivables	-	210.15	98.79	82.47	136.11
Receivables	1,097	1,298	1,121	779.11	938.13
Prepaid Expenses	-	94.64	86.46	72.67	98.05
Restricted Cash	0.41	1.86	21.01	8.32	-
Other Current Assets	802.21	335.49	590.03	507.11	1,111
Total Current Assets	14,074	11,952	11,323	10,475	8,769
Property, Plant & Equipment	25.6	26.25	39.34	53.66	54.55
Long-Term Investments	1,452	1,472	78.97	79.03	92.91
Long-Term Deferred Tax Assets	746.7	-	-	-	-
Long-Term Deferred Charges	102.79	107.17	166.05	283.43	471.46
Other Long-Term Assets	60.5	24.22	3.03	-	-
Total Assets	16,461	13,582	11,611	10,891	9,388
Accounts Payable	94.54	97.72	76.37	53.21	56.52
Accrued Expenses	1,921	1,892	1,918	2,153	1,112
Current Portion of Leases	1.97	1.71	3	2.78	2.61
Current Income Taxes Payable	62.79	0.74	4.13	5.62	-
Current Unearned Revenue	1,406	1,235	1,001	714.26	604.61
Other Current Liabilities	-	84.3	97.68	81.78	171.56
Total Current Liabilities	3,486	3,312	3,100	3,010	1,948
Long-Term Leases	4.23	4.76	3.36	5.62	7.89
Long-Term Unearned Revenue	101.66	83.89	66.54	55.24	50.56
Total Liabilities	3,592	3,401	3,170	3,071	2,006
Common Stock	0.14	0.14	0.14	0.14	0.13
Additional Paid-In Capital	-	17,552	17,286	17,113	16,900
Retained Earnings	-5,784	-8,526	-10,087	-10,820	-10,597
Treasury Stock	-	-546.8	-397.53	-	-
Comprehensive Income & Other	18,653	1,699	1,640	1,527	1,079
Total Common Equity	12,869	10,178	8,441	7,820	7,382
Minority Interest	-	3.86	-	-	-
Shareholders' Equity	12,869	10,182	8,441	7,820	7,382
Total Liabilities & Equity	16,461	13,582	11,611	10,891	9,388
Total Debt	6.2	6.47	6.36	8.4	10.51
Net Cash (Debt)	12,169	10,216	9,499	9,100	6,611
Net Cash Growth	19.12%	7.55%	4.38%	37.64%	-
Net Cash Per Share	56.99	48.40	44.84	43.54	51.19
Filing Date Shares Outstanding	211.63	216.39	214.29	211.91	207.76
Total Common Shares Outstanding	211.63	216.39	214.29	211.91	207.76
Working Capital	10,588	8,640	8,223	7,465	6,821
Book Value Per Share	60.81	47.03	39.39	36.90	35.53
Tangible Book Value	12,869	10,178	8,441	7,820	7,382
Tangible Book Value Per Share	60.81	47.03	39.39	36.90	35.53
Machinery	-	116.76	131.64	131.46	110.42
Construction In Progress	-	-	-	-	2.83
Leasehold Improvements	-	1.86	5.58	5.52	1.26

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