NetEase Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	50,815	47,168	51,383	21,429	24,889	14,498
Short-Term Investments	120,089	117,072	86,289	105,374	92,639	83,123
Cash & Short-Term Investments	170,904	164,240	137,672	126,803	117,528	97,621
Cash Growth	21.97%	19.30%	8.57%	7.89%	20.39%	4.37%
Accounts Receivable	6,493	5,338	5,669	6,422	5,003	5,508
Other Receivables	-	1,774	2,464	2,784	1,374	1,514
Receivables	6,493	7,198	8,158	9,252	6,443	7,064
Inventory	546.03	689.18	571.55	695.37	993.64	964.73
Prepaid Expenses	-	3,922	3,612	2,949	3,005	3,945
Restricted Cash	4,503	4,319	3,086	2,777	2,699	2,877
Other Current Assets	6,213	246.52	224.47	215.84	934.76	648.65
Total Current Assets	188,659	180,615	153,325	142,693	131,603	113,120
Property, Plant & Equipment	8,311	8,746	9,061	8,824	7,230	6,478
Long-Term Investments	3,045	21,458	23,231	22,833	21,518	24,629
Goodwill	-	1,855	1,855	1,855	2,166	595.28
Other Intangible Assets	4,015	4,995	5,585	5,960	6,239	6,725
Long-Term Deferred Tax Assets	2,895	2,831	1,113	1,560	1,481	1,298
Other Long-Term Assets	24,473	898.32	1,803	2,165	2,483	743.16
Total Assets	231,397	221,415	195,992	185,925	172,761	153,644
Accounts Payable	780.92	643.16	720.55	881.02	1,507	985.06
Accrued Expenses	18,123	12,326	12,052	11,275	10,234	9,000
Short-Term Debt	10,955	6,384	11,805	19,240	23,876	19,352
Current Portion of Leases	-	113.21	171.61	259.49	259.05	334.4
Current Income Taxes Payable	5,766	2,791	1,740	1,790	2,116	3,459
Current Unearned Revenue	21,812	20,983	15,760	13,718	12,699	12,307
Other Current Liabilities	-	9,128	7,419	6,678	6,138	5,063
Total Current Liabilities	57,437	52,369	49,668	53,842	56,829	50,501
Long-Term Debt	-	-	428	428	3,655	1,275
Long-Term Leases	-	232.11	412.6	555.83	672.64	732.13
Long-Term Deferred Tax Liabilities	3,232	2,637	2,173	2,299	2,126	1,346
Other Long-Term Liabilities	1,378	1,073	816.04	715.28	604.93	365.58
Total Liabilities	62,048	56,311	53,497	57,841	63,888	54,220
Common Stock	164,722	2.63	2.63	2.71	2.71	2.79
Additional Paid-In Capital	-	9,837	9,861	22,605	22,854	37,916
Retained Earnings	-	152,212	132,288	113,756	92,353	78,740
Treasury Stock	-	-1,519	-4,473	-12,694	-10,911	-20,502
Comprehensive Income & Other	-	-237.77	1,007	616.78	431.79	-828.07
Total Common Equity	164,722	160,296	138,686	124,286	104,731	95,328
Minority Interest	4,627	4,808	3,809	3,798	4,142	4,096
Shareholders' Equity	169,349	165,104	142,494	128,084	108,873	99,424
Total Liabilities & Equity	231,397	221,415	195,992	185,925	172,761	153,644
Total Debt	10,955	6,730	12,817	20,483	28,462	21,694
Net Cash (Debt)	159,948	157,511	124,855	106,319	89,065	75,927
Net Cash Growth	22.76%	26.16%	17.43%	19.37%	17.30%	3.69%
Net Cash Per Share	49.62	48.94	38.65	32.69	27.02	22.55
Filing Date Shares Outstanding	3,198	3,192	3,168	3,211	3,126	3,101
Total Common Shares Outstanding	3,198	3,192	3,168	3,211	3,126	3,101
Working Capital	131,221	128,247	103,657	88,850	74,774	62,619
Book Value Per Share	51.51	50.22	43.78	38.71	33.50	30.74
Tangible Book Value	160,707	153,446	131,245	116,471	96,325	88,008
Tangible Book Value Per Share	50.25	48.07	41.43	36.27	30.81	28.38
Buildings	-	7,909	6,889	4,063	3,875	3,677
Machinery	-	6,746	6,748	6,758	6,501	5,856
Construction In Progress	-	985.11	1,696	3,676	1,587	653.24
Leasehold Improvements	-	144.47	197.23	311.16	304.37	287.51

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