Niu Technologies 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	Jun '26 Jun 30, 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	1,329	1,136	846.42	980.24	720.63	432.34
Short-Term Investments	365.06	190.9	274.35	97.56	369	869.31
Cash & Short-Term Investments	1,694	1,326	1,121	1,078	1,090	1,302
Cash Growth	17.51%	18.36%	3.99%	-1.08%	-16.29%	2.37%
Accounts Receivable	25.61	37.37	131.92	94.96	299.74	268.56
Inventory	724.01	652.58	649.18	392.79	417.01	269.64
Other Current Assets	358.52	343.54	267.94	195.07	205.7	56.06
Total Current Assets	2,802	2,360	2,170	1,761	2,012	1,896
Net Property, Plant & Equipment	551.47	496.13	391.24	399.93	483.95	491.42
Other Intangible Assets	0.65	0.78	1.04	1.31	1.86	3.67
Other Long-Term Assets	127.6	93.45	51.07	27.48	38.82	50.21
Total Assets	3,482	2,950	2,613	2,189	2,537	2,441
Accounts Payable	1,628	1,098	1,163	743.01	776.3	682.55
Accrued Expenses	502.9	404.81	201.36	165.51	192.09	198.9
Short-Term Debt	220	240	200	100	160	180
Unearned Revenue	363.75	257.75	86.14	61.06	62.47	50.02
Other Current Liabilities	0.29	2.2	1.07	1.36	1.9	17.6
Total Current Liabilities	2,715	2,003	1,652	1,071	1,193	1,129
Long-Term Leases	2.56	3.96	0.09	0.28	7.57	13.92
Other Long-Term Liabilities	45.96	38.32	29.85	24.5	26.27	33.65
Total Long-Term Liabilities	48.52	42.27	29.94	24.78	33.84	47.58
Total Liabilities	2,763	2,045	1,682	1,096	1,227	1,177
Common Stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional Paid-in Capital	2,026	2,017	1,989	1,964	1,916	1,855
Accumulated Other Comprehensive Income	-18.56	-17.99	-3.13	-9.5	-16.54	-51.12
Retained Earnings	-1,290	-1,094	-1,054	-861.13	-589.29	-539.83
Shareholders' Equity	718.15	904.93	931.28	1,094	1,310	1,265
Total Liabilities & Equity	3,482	2,950	2,613	2,189	2,537	2,441
Total Debt	222.56	243.96	200.09	100.28	167.57	193.92
Net Cash (Debt)	1,471	1,083	920.68	977.52	922.05	1,108
Net Cash Growth	20.96%	17.58%	-5.81%	6.02%	-16.76%	1.48%
Net Cash Per Share	18.12	13.56	11.62	12.47	11.88	13.81
Book Value	718.15	904.93	931.28	1,094	1,310	1,265
Book Value Per Share	8.84	11.33	11.75	13.95	16.89	15.76
Tangible Book Value	717.5	904.15	930.24	1,092	1,308	1,261
Tangible Book Value Per Share	8.84	11.32	11.74	13.93	16.86	15.72