NetEase Cloud Music 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	2,077	3,795	4,020	2,917	853.45	3,006
Short-Term Investments	8,950	6,421	5,485	6,192	5,528	816.92
Trading Asset Securities	6.58	6.52	-	-	240.77	971.32
Cash & Short-Term Investments	11,033	10,222	9,505	9,108	6,622	4,794
Cash Growth	25.53%	7.55%	4.36%	37.54%	38.12%	-25.29%
Accounts Receivable	1,160	1,088	1,022	696.65	802.02	426.06
Other Receivables	-	210.15	98.79	82.47	136.11	202.53
Receivables	1,160	1,298	1,121	779.11	938.13	628.58
Prepaid Expenses	-	94.64	86.46	72.67	98.05	76.41
Restricted Cash	0.41	1.86	21.01	8.32	-	-
Other Current Assets	618.8	335.49	590.03	507.11	1,111	1,363
Total Current Assets	12,812	11,952	11,323	10,475	8,769	6,863
Property, Plant & Equipment	25.41	26.25	39.34	53.66	54.55	20.8
Long-Term Investments	1,461	1,472	78.97	79.03	92.91	278.58
Long-Term Deferred Charges	99.83	107.17	166.05	283.43	471.46	894.76
Other Long-Term Assets	40.41	24.22	3.03	-	-	0.63
Total Assets	15,287	13,582	11,611	10,891	9,388	8,057
Accounts Payable	115.44	97.72	76.37	53.21	56.52	75.55
Accrued Expenses	1,548	1,892	1,918	2,153	1,112	1,576
Current Portion of Leases	1.61	1.71	3	2.78	2.61	-
Current Income Taxes Payable	30.49	0.74	4.13	5.62	-	0.64
Current Unearned Revenue	1,310	1,235	1,001	714.26	604.61	384.98
Other Current Liabilities	64.05	84.3	97.68	81.78	171.56	135.92
Total Current Liabilities	3,069	3,312	3,100	3,010	1,948	2,173
Long-Term Debt	-	-	-	-	-	11,162
Long-Term Leases	4.3	4.76	3.36	5.62	7.89	-
Long-Term Unearned Revenue	97.62	83.89	66.54	55.24	50.56	29.11
Total Liabilities	3,171	3,401	3,170	3,071	2,006	13,364
Common Stock	0.14	0.14	0.14	0.14	0.13	0.08
Additional Paid-In Capital	17,700	17,552	17,286	17,113	16,900	2,582
Retained Earnings	-6,641	-8,526	-10,087	-10,820	-10,597	-8,371
Treasury Stock	-501.17	-546.8	-397.53	-	-	-
Comprehensive Income & Other	1,558	1,699	1,640	1,527	1,079	481.8
Total Common Equity	12,116	10,178	8,441	7,820	7,382	-5,307
Minority Interest	0.51	3.86	-	-	-	-
Shareholders' Equity	12,117	10,182	8,441	7,820	7,382	-5,307
Total Liabilities & Equity	15,287	13,582	11,611	10,891	9,388	8,057
Total Debt	5.91	6.47	6.36	8.4	10.51	11,162
Net Cash (Debt)	11,027	10,216	9,499	9,100	6,611	-6,368
Net Cash Growth	25.57%	7.55%	4.38%	37.64%	-	-
Net Cash Per Share	51.96	48.40	44.84	43.54	51.19	-52.25
Filing Date Shares Outstanding	217.45	216.39	214.29	211.91	207.76	121.24
Total Common Shares Outstanding	217.45	216.39	214.29	211.91	207.76	121.24
Working Capital	9,743	8,640	8,223	7,465	6,821	4,690
Book Value Per Share	55.72	47.03	39.39	36.90	35.53	-43.77
Tangible Book Value	12,116	10,178	8,441	7,820	7,382	-5,307
Tangible Book Value Per Share	55.72	47.03	39.39	36.90	35.53	-43.77
Machinery	-	116.76	131.64	131.46	110.42	76.7
Construction In Progress	-	-	-	-	2.83	-
Leasehold Improvements	-	1.86	5.58	5.52	1.26	1.2

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