PDD Holdings 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	123,041	108,901	57,768	59,795	34,326	6,427
Short-Term Investments	313,030	313,408	273,792	157,415	115,113	86,517
Cash & Short-Term Investments	436,071	422,308	331,560	217,210	149,439	92,943
Cash Growth	19.63%	27.37%	52.64%	45.35%	60.78%	6.87%
Accounts Receivable	5,758	5,109	3,679	3,914	587.7	673.74
Other Receivables	9,768	10,205	7,569	7,428	6,319	4,250
Total Trade Receivables	15,526	15,314	11,249	11,342	6,907	4,924
Other Current Assets	397,988	394,765	346,632	223,614	175,385	149,559
Total Current Assets	536,555	518,980	415,648	294,750	216,618	160,909
Net Property, Plant & Equipment	5,753	6,169	5,944	5,084	2,461	3,142
Other Intangible Assets	15	15.39	19.17	21.15	134	701.22
Other Long-Term Assets	95,381	104,880	83,423	48,222	17,907	16,458
Total Assets	637,704	630,044	505,034	348,078	237,120	181,210
Accounts Payable	110,405	108,494	92,458	76,236	64,993	64,473
Accrued Expenses	77,309	81,658	69,142	55,351	20,961	14,086
Current Portion of Long-Term Debt	-	-	5,310	648.57	13,886	-
Current Portion of Leases	2,502	2,499	2,106	1,642	602.04	427.16
Unearned Revenue	3,521	3,379	2,947	2,145	1,390	1,167
Other Current Liabilities	17,905	17,708	16,461	16,879	15,058	13,578
Total Current Liabilities	211,642	213,737	188,423	152,901	116,889	93,730
Long-Term Debt	-	-	-	5,232	1,576	11,789
Long-Term Leases	2,620	2,880	3,192	2,644	870.78	544.26
Other Long-Term Liabilities	15	41.85	106.77	59.83	13.03	32.29
Total Long-Term Liabilities	2,635	2,922	3,298	7,936	2,460	12,366
Total Liabilities	214,277	216,659	191,721	160,837	119,349	106,095
Common Stock	-	0.18	0.18	0.18	0.17	0.16
Additional Paid-in Capital	127,292	125,768	117,829	107,293	99,251	95,341
Accumulated Other Comprehensive Income	-1,913	2,116	7,825	4,724	3,322	-2,520
Retained Earnings	298,048	285,502	187,659	75,225	15,198	-17,707
Shareholders' Equity	423,427	413,385	313,313	187,242	117,771	75,115
Total Liabilities & Equity	637,704	630,044	505,034	348,078	237,120	181,210
Total Debt	5,122	5,379	10,607	10,166	16,934	12,760
Net Cash (Debt)	430,949	416,929	320,953	207,044	132,504	80,183
Net Cash Growth	3.36%	29.90%	55.02%	56.26%	65.25%	14.54%
Net Cash Per Share	290.34	281.25	216.99	141.82	92.00	56.13
Book Value	423,427	413,385	313,313	187,242	117,771	75,115
Book Value Per Share	285.28	278.86	211.82	128.26	81.77	52.59
Tangible Book Value	423,412	413,370	313,294	187,220	117,637	74,413
Tangible Book Value Per Share	285.26	278.85	211.81	128.24	81.67	52.09