The9 Limited (NCTY)
NASDAQ: NCTY · Real-Time Price · USD
4.630
+0.050 (1.09%)
At close: Aug 17, 2026, 4:00 PM EDT
4.630
0.00 (0.00%)
After-hours: Aug 17, 2026, 4:10 PM EDT
The9 Limited Cash Flow Statement
Financials in millions CNY. Fiscal year is January - December.
Millions CNY. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Net Income | -179.44 | -402.45 | -73.42 | 20 | -974.86 | -411.23 |
Depreciation & Amortization | 14.98 | 13.58 | 61.46 | 86.87 | 91.38 | 47.44 |
Other Amortization | 4.77 | 4.14 | - | - | 23.2 | 120.63 |
Loss (Gain) From Sale of Assets | 0.42 | 0.43 | 18.95 | 0.23 | -5.09 | -18.92 |
Asset Writedown & Restructuring Costs | - | - | 6.51 | 161 | 176.87 | 11.64 |
Loss (Gain) From Sale of Investments | 102.69 | 103.47 | 7.17 | -5.16 | 46.5 | -9.65 |
Loss (Gain) on Equity Investments | 0.87 | 0.57 | 1.12 | - | - | 1.73 |
Stock-Based Compensation | 120.42 | 116.05 | 44.68 | 70.76 | 202.35 | 150.17 |
Provision & Write-off of Bad Debts | - | - | - | - | - | 0.32 |
Other Operating Activities | -92.92 | 135.87 | -104.93 | -195.04 | 162.41 | -133.62 |
Change in Accounts Receivable | -9.7 | -10.97 | -0.05 | 0.1 | 3.53 | -13.63 |
Change in Inventory | -3.91 | -2.35 | - | 0.03 | 2.75 | -2.75 |
Change in Accounts Payable | 2.92 | 6.95 | -1.26 | 2.37 | 121.76 | 38.8 |
Change in Unearned Revenue | -2.42 | -3.25 | 0.22 | 0.27 | -1.24 | -2.13 |
Change in Other Net Operating Assets | -17.38 | 6.18 | -4.64 | -28.94 | -3.6 | -483.07 |
Operating Cash Flow | -58.68 | -31.76 | -44.2 | -46.32 | -154.04 | -704.29 |
Operating Cash Flow Growth | - | - | - | - | - | - |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Capital Expenditures | -1.45 | -1.45 | - | -2.11 | -248.82 | -75.62 |
Sale of Property, Plant & Equipment | - | 0.09 | 0.15 | 0 | 0.41 | 11.73 |
Divestitures | -0.43 | -0.43 | -0.08 | -0.09 | - | -0.24 |
Sale (Purchase) of Intangibles | -1.51 | -1.51 | -9 | - | - | - |
Investment in Securities | 2.54 | 2.54 | -39.08 | 5.16 | -5.72 | -61.35 |
Other Investing Activities | -6.21 | 1.87 | -9 | 1.5 | 4.5 | - |
Investing Cash Flow | -7.05 | 1.12 | -57.02 | 4.47 | -249.64 | -125.48 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Short-Term Debt Issued | - | - | 88.11 | 1.43 | 2.47 | - |
Long-Term Debt Issued | - | 78.36 | - | 85.35 | 33.7 | 161.59 |
Total Debt Issued | 56.89 | 78.36 | 88.11 | 86.78 | 36.17 | 161.59 |
Short-Term Debt Repaid | - | -32.05 | -2.83 | -11.68 | -3.15 | -6.38 |
Long-Term Debt Repaid | - | - | -34.39 | -42.9 | - | - |
Total Debt Repaid | -15.71 | -32.05 | -37.22 | -54.58 | -3.15 | -6.38 |
Net Debt Issued (Repaid) | 41.17 | 46.31 | 50.89 | 32.2 | 33.03 | 155.21 |
Issuance of Common Stock | 31.5 | 31.5 | 17.78 | - | 0.04 | 1,076 |
Other Financing Activities | 0.65 | 0.65 | 1.1 | 0.26 | - | -3.72 |
Financing Cash Flow | 73.33 | 78.47 | 69.77 | 32.47 | 33.07 | 1,227 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Foreign Exchange Rate Adjustments | -1.96 | -0.25 | -2.86 | -3.46 | 0.25 | -0.95 |
Net Cash Flow | 5.64 | 47.58 | -34.31 | -12.84 | -370.36 | 396.72 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Free Cash Flow | -60.13 | -33.2 | -44.2 | -48.43 | -402.86 | -779.91 |
Free Cash Flow Growth | - | - | - | - | - | - |
Free Cash Flow Margin | -71.77% | -30.77% | -39.56% | -27.83% | -383.93% | -575.25% |
Free Cash Flow Per Share | -6.83 | -4.38 | -9.45 | -14.37 | -167.80 | -472.38 |
Levered Free Cash Flow | - | -59.73 | -88.76 | -140.47 | 102.21 | -534.51 |
Unlevered Free Cash Flow | - | -45.19 | -67.37 | -120.86 | 93.6 | -580.65 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 Interest Paid | 1.43 | 1.43 | 1.56 | 5.53 | - | - |
Cash Income Tax Paid | 0.13 | 0.13 | - | - | - | - |
Change in Working Capital | -30.48 | -3.43 | -5.73 | -26.18 | 123.21 | -462.78 |