The9 Limited (NCTY)

The9 Limited Balance Sheet

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

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	16.25	58.49	10.91	45.22	58.06	428.42
Short-Term Investments	-	-	-	-	-	0.8
Cash & Short-Term Investments	16.25	58.49	10.91	45.22	58.06	429.22
Cash Growth	48.95%	436.06%	-75.87%	-22.12%	-86.47%	1254.17%
Accounts Receivable	14.16	10.07	-	0.06	0.15	3.68
Other Receivables	-	11.04	7.7	6.89	5.25	62.34
Receivables	15.27	21.1	7.7	6.94	5.4	66.02
Prepaid Expenses	-	4.8	18.33	-	-	-
Other Current Assets	447.44	258.05	206.75	128.18	329.96	555.27
Total Current Assets	478.96	342.44	243.69	180.34	393.43	1,051
Property, Plant & Equipment	49.22	55.42	20.83	101.2	154.91	179.34
Long-Term Investments	171.55	171.56	297.22	35.29	35.3	73.92
Other Intangible Assets	14.93	15.8	9	-	-	-
Long-Term Deferred Charges	-	-	9	-	-	-
Other Long-Term Assets	4.74	1.23	56.9	46.9	15.47	6.55
Total Assets	733.9	593.75	636.64	363.73	599.11	1,310

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	19.71	19.48	5.53	9.6	7.15	39.9
Accrued Expenses	54.32	17.15	11.09	11.45	15.82	20.75
Short-Term Debt	138.37	174.48	89.1	3.26	13.45	14.1
Current Portion of Long-Term Debt	54.53	48.15	43.06	49.93	60.98	92.85
Current Portion of Leases	4.24	4.19	2.84	4.37	5.79	4.31
Current Income Taxes Payable	1.41	1.43	1.47	1.5	1.65	1.51
Current Unearned Revenue	8.31	7.56	10.81	12.71	17.75	18.98
Other Current Liabilities	31.78	70.96	41.71	70.02	441.57	351.9
Total Current Liabilities	312.66	343.4	205.61	162.85	564.16	544.3
Long-Term Debt	-	-	-	16.75	-	-
Long-Term Leases	6.79	7.82	1.6	2.79	7.41	2.57
Other Long-Term Liabilities	72.7	72.7	104.56	-	-	-
Total Liabilities	392.15	423.91	311.77	182.39	571.57	546.86

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	322.87	321.89	262.97	96.32	57.6	46.18
Additional Paid-In Capital	4,722	4,706	4,510	4,471	4,371	4,139
Retained Earnings	-4,669	-4,825	-4,423	-4,349	-4,371	-3,396
Comprehensive Income & Other	-11.93	-11.92	-11.89	-11.74	-12.53	-12.69
Total Common Equity	363.94	190.88	338.65	206.27	45.31	776.47
Minority Interest	-22.19	-21.04	-13.78	-24.94	-17.77	-13.02
Shareholders' Equity	341.75	169.84	324.87	181.34	27.54	763.46
Total Liabilities & Equity	733.9	593.75	636.64	363.73	599.11	1,310

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	203.93	234.63	136.61	77.1	87.64	113.82
Net Cash (Debt)	-187.67	-176.14	-125.7	-31.88	-29.57	315.4
Net Cash Growth	-	-	-	-	-	6410.40%
Net Cash Per Share	-21.33	-23.24	-26.87	-9.46	-12.32	191.03
Filing Date Shares Outstanding	15.27	15.27	14.06	5.58	3.14	2.36
Total Common Shares Outstanding	15.27	15.23	12.46	4.68	2.87	2.3
Working Capital	166.29	-0.96	38.08	17.49	-170.74	506.22
Book Value Per Share	23.83	12.54	27.17	44.04	15.79	336.92
Tangible Book Value	349.01	175.08	329.65	206.27	45.31	776.47
Tangible Book Value Per Share	22.85	11.50	26.45	44.04	15.79	336.92
Machinery	-	78.91	180.5	276.08	270.15	221.19
Leasehold Improvements	-	1.02	-	-	-	-

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Dec 31, 2025

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Aug 15, 2026

Data Sources Report a data error