The9 Limited Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	36.1	10.91	45.22	58.06	428.42	31.7
Short-Term Investments	-	-	-	-	0.8	-
Cash & Short-Term Investments	36.1	10.91	45.22	58.06	429.22	31.7
Cash Growth	153.33%	-75.87%	-22.12%	-86.47%	1254.17%	213.42%
Accounts Receivable	1.12	-	0.06	0.15	3.68	0
Other Receivables	0.58	7.7	6.89	5.25	62.34	6.74
Receivables	3.86	7.7	6.94	5.4	66.02	6.75
Other Current Assets	334.1	225.08	128.18	329.96	555.27	3.87
Total Current Assets	374.05	243.69	180.34	393.43	1,051	42.32
Property, Plant & Equipment	12.55	20.83	101.2	154.91	179.34	6.13
Long-Term Investments	239.02	297.22	35.29	35.3	73.92	-
Other Intangible Assets	9	9	-	-	-	-
Long-Term Deferred Charges	9	9	-	-	-	-
Other Long-Term Assets	69.69	56.9	46.9	15.47	6.55	-
Total Assets	713.32	636.64	363.73	599.11	1,310	48.44
Accounts Payable	7.84	5.53	9.6	7.15	39.9	35.6
Accrued Expenses	45.2	11.09	11.45	15.82	20.75	22.88
Short-Term Debt	142.59	89.1	3.26	13.45	14.1	20.6
Current Portion of Long-Term Debt	15.91	43.06	49.93	60.98	92.85	-
Current Portion of Leases	1.5	2.84	4.37	5.79	4.31	3.79
Current Income Taxes Payable	1.49	1.47	1.5	1.65	1.51	1.29
Current Unearned Revenue	10.7	10.81	12.71	17.75	18.98	38.01
Other Current Liabilities	17.91	41.71	70.02	441.57	351.9	242.21
Total Current Liabilities	243.14	205.61	162.85	564.16	544.3	364.37
Long-Term Debt	-	-	16.75	-	-	-
Long-Term Leases	2.32	1.6	2.79	7.41	2.57	2.46
Other Long-Term Liabilities	72.7	104.56	-	-	-	-
Total Liabilities	318.16	311.77	182.39	571.57	546.86	366.84
Common Stock	295.85	262.97	96.32	57.6	46.18	18.1
Additional Paid-In Capital	4,615	4,510	4,471	4,371	4,139	2,696
Retained Earnings	-4,492	-4,423	-4,349	-4,371	-3,396	-2,985
Comprehensive Income & Other	-11.89	-11.89	-11.74	-12.53	-12.69	-16.68
Total Common Equity	407.36	338.65	206.27	45.31	776.47	-287.72
Minority Interest	-12.2	-13.78	-24.94	-17.77	-13.02	-30.68
Shareholders' Equity	395.16	324.87	181.34	27.54	763.46	-318.4
Total Liabilities & Equity	713.32	636.64	363.73	599.11	1,310	48.44
Total Debt	162.32	136.61	77.1	87.64	113.82	26.85
Net Cash (Debt)	-126.22	-125.7	-31.88	-29.57	315.4	4.84
Net Cash Growth	-	-	-	-	6410.40%	-
Net Cash Per Share	-23.30	-26.87	-9.46	-12.32	191.03	8.88
Filing Date Shares Outstanding	12.46	14.06	5.58	3.14	2.36	1.18
Total Common Shares Outstanding	12.46	12.46	4.68	2.87	2.3	0.88
Working Capital	130.92	38.08	17.49	-170.74	506.22	-322.06
Book Value Per Share	32.68	27.17	44.04	15.79	336.92	-326.13
Tangible Book Value	398.36	329.65	206.27	45.31	776.47	-287.72
Tangible Book Value Per Share	31.96	26.45	44.04	15.79	336.92	-326.13
Machinery	-	180.5	276.08	270.15	221.19	11.09

Updated Jun 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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