NaaS Technology 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	81.15	126.61	436.24	513.35	8.49
Short-Term Investments	1.29	9.17	98.06	-	-
Cash & Short-Term Investments	82.45	135.79	534.3	513.35	8.49
Cash Growth	-39.28%	-74.59%	4.08%	5947.25%	-
Accounts Receivable	21.71	44.51	73.14	130	38.46
Other Receivables	-	-	77.68	-	-
Total Trade Receivables	21.71	44.51	150.83	130	38.46
Inventory	0.02	-	22.46	-	-
Other Current Assets	109.87	259.2	436.38	287.44	105.83
Total Current Assets	214.05	439.5	1,144	930.79	152.78
Net Property, Plant & Equipment	3.92	7.41	18.4	19.63	20.31
Other Intangible Assets	1.59	2.34	13.32	0.83	-
Goodwill	-	-	40.09	-	-
Long-Term Investments	92.82	199.36	240.74	140.81	5
Other Long-Term Assets	0.19	2.05	8.58	13.87	-
Total Assets	312.57	650.64	1,465	1,106	178.09
Accounts Payable	230.83	104.22	152.07	49.24	16.87
Accrued Expenses	358.36	179.05	293	81.84	112.15
Short-Term Debt	-	-	272.68	-	-
Current Portion of Long-Term Debt	501.76	772.98	72.95	38	-
Current Portion of Leases	1.47	1.25	7.15	6.85	7.07
Other Current Liabilities	30.74	292.91	19.17	16.21	-
Total Current Liabilities	1,123	1,350	817.03	192.14	136.09
Long-Term Debt	80.96	51.07	681.82	465.16	-
Long-Term Leases	1.12	3.3	6.94	9.33	12.57
Other Long-Term Liabilities	-	-	2.92	0.44	-
Total Long-Term Liabilities	82.08	54.37	691.67	474.92	12.57
Total Liabilities	1,205	1,405	1,509	667.06	148.65
Common Stock	0.24	186.68	165.18	146.73	-
Treasury Stock	-0	-6.86	-	-	-
Additional Paid-in Capital	7,709	7,415	7,192	6,359	423.33
Accumulated Other Comprehensive Income	47.16	-97.19	-65.7	-35.2	-
Retained Earnings	-8,691	-8,252	-7,338	-6,031	-393.89
Total Common Shareholders' Equity	-933.98	-754.46	-47.04	438.87	29.44
Minority Interest	41.31	0.32	3.43	-	-
Shareholders' Equity	-892.67	-754.13	-43.61	438.87	29.44
Total Liabilities & Equity	312.57	650.64	1,465	1,106	178.09
Total Debt	585.31	828.6	1,042	519.34	19.63
Net Cash (Debt)	-502.87	-692.81	-507.24	-5.98	-11.14
Net Cash Per Share	-165.31	-842.72	-718.30	-9.93	-21.64
Book Value	-933.98	-754.46	-47.04	438.87	29.44
Book Value Per Share	-307.03	-917.71	-66.61	728.52	57.18
Tangible Book Value	-935.58	-756.79	-100.44	438.04	29.44
Tangible Book Value Per Share	-307.56	-920.55	-142.24	727.13	57.18

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

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