Niu Technologies 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	1,136	846.42	980.24	720.63	432.35
Short-Term Investments	190.9	274.35	97.56	369	869.31
Cash & Short-Term Investments	1,327	1,121	1,078	1,090	1,302
Cash Growth	18.36%	3.99%	-1.08%	-16.29%	2.37%
Accounts Receivable	37.37	131.92	94.96	299.74	268.56
Inventory	652.58	649.18	392.79	417.01	269.64
Other Current Assets	343.54	267.94	195.07	205.7	56.06
Total Current Assets	2,360	2,170	1,761	2,012	1,896
Net Property, Plant & Equipment	496.13	391.24	399.93	483.95	491.42
Other Intangible Assets	0.78	1.04	1.31	1.86	3.67
Other Long-Term Assets	93.45	51.07	27.48	38.82	50.21
Total Assets	2,950	2,613	2,189	2,537	2,441
Accounts Payable	1,098	1,163	743.01	776.3	682.55
Accrued Expenses	404.81	201.36	165.51	192.09	198.91
Short-Term Debt	240	200	100	160	180
Unearned Revenue	257.75	86.14	61.06	62.47	50.02
Other Current Liabilities	2.2	1.07	1.36	1.9	17.6
Total Current Liabilities	2,003	1,652	1,071	1,193	1,129
Long-Term Leases	3.96	0.09	0.28	7.57	13.92
Other Long-Term Liabilities	38.32	29.85	24.5	26.27	33.65
Total Long-Term Liabilities	42.27	29.94	24.78	33.84	47.58
Total Liabilities	2,045	1,682	1,096	1,227	1,177
Common Stock	0.1	0.1	0.1	0.1	0.1
Additional Paid-in Capital	2,017	1,989	1,964	1,916	1,855
Accumulated Other Comprehensive Income	-17.99	-3.13	-9.5	-16.54	-51.12
Retained Earnings	-1,094	-1,054	-861.13	-589.29	-539.83
Shareholders' Equity	904.93	931.28	1,094	1,310	1,265
Total Liabilities & Equity	2,950	2,613	2,189	2,537	2,441
Total Debt	243.96	200.09	100.28	167.57	193.92
Net Cash (Debt)	1,083	920.68	977.52	922.05	1,108
Net Cash Growth	17.58%	-5.81%	6.02%	-16.76%	1.48%
Net Cash Per Share	13.56	11.62	12.47	11.88	13.81
Book Value	904.93	931.28	1,094	1,310	1,265
Book Value Per Share	11.33	11.75	13.95	16.89	15.76
Tangible Book Value	904.16	930.24	1,092	1,308	1,261
Tangible Book Value Per Share	11.32	11.74	13.93	16.86	15.72

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.