NetEase 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	47,168	51,383	21,429	24,889	14,498
Short-Term Investments	117,072	86,289	105,374	92,639	83,123
Cash & Short-Term Investments	164,240	137,672	126,803	117,528	97,621
Cash Growth	19.30%	8.57%	7.89%	20.39%	4.37%
Accounts Receivable	5,338	5,669	6,422	5,003	5,508
Other Receivables	1,774	2,464	2,784	1,374	1,514
Receivables	7,198	8,158	9,252	6,443	7,064
Inventory	689.18	571.55	695.37	993.64	964.73
Prepaid Expenses	3,922	3,612	2,949	3,005	3,945
Restricted Cash	4,319	3,086	2,777	2,699	2,877
Other Current Assets	246.52	224.47	215.84	934.76	648.65
Total Current Assets	180,615	153,325	142,693	131,603	113,120
Property, Plant & Equipment	8,746	9,061	8,824	7,230	6,478
Long-Term Investments	21,458	23,231	22,833	21,518	24,629
Goodwill	1,855	1,855	1,855	2,166	595.28
Other Intangible Assets	4,995	5,585	5,960	6,239	6,725
Long-Term Deferred Tax Assets	2,831	1,113	1,560	1,481	1,298
Other Long-Term Assets	898.32	1,803	2,165	2,483	743.16
Total Assets	221,415	195,992	185,925	172,761	153,644
Accounts Payable	643.16	720.55	881.02	1,507	985.06
Accrued Expenses	12,326	12,052	11,275	10,234	9,000
Short-Term Debt	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	2,791	1,740	1,790	2,116	3,459
Current Unearned Revenue	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	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	2,637	2,173	2,299	2,126	1,346
Other Long-Term Liabilities	1,073	816.04	715.28	604.93	365.58
Total Liabilities	56,311	53,497	57,841	63,888	54,220
Common Stock	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	160,296	138,686	124,286	104,731	95,328
Minority Interest	4,808	3,809	3,798	4,142	4,096
Shareholders' Equity	165,104	142,494	128,084	108,873	99,424
Total Liabilities & Equity	221,415	195,992	185,925	172,761	153,644
Total Debt	6,730	12,817	20,483	28,462	21,694
Net Cash (Debt)	157,511	124,855	106,319	89,065	75,927
Net Cash Growth	26.16%	17.43%	19.37%	17.30%	3.69%
Net Cash Per Share	48.94	38.65	32.69	27.02	22.55
Filing Date Shares Outstanding	3,192	3,168	3,211	3,126	3,101
Total Common Shares Outstanding	3,192	3,168	3,211	3,126	3,101
Working Capital	128,247	103,657	88,850	74,774	62,619
Book Value Per Share	50.22	43.78	38.71	33.50	30.74
Tangible Book Value	153,446	131,245	116,471	96,325	88,008
Tangible Book Value Per Share	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.