Boqii Holding Limited (BQ) Balance Sheet

NYSE American: BQAssets, liabilities, debt and equity over 7 years.

BQ balance sheet, FY2026

March 31, 2026 · Chinese yuan

CN¥247.1M assets = CN¥61.7M liabilities + CN¥185.3M equity

Both columns are drawn to the same scale: what BQ owns equals what it owes plus shareholders’ equity. Hover a block for its value.

BQ financial health

Current ratio3.25

Comfortable · current assets cover current liabilities 3.25×

Debt / equity0.16

Low leverage · CN¥0.16 of debt for each $1 of equity

Equity / assets78.3%

Equity-funded · of assets funded by shareholders

Cash / debt157.7%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

BQ balance sheet trends, FY2019–FY2026

Boqii Holding Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥235.5MFY2019	CN¥247.1MFY2026	+0.8%/yr
Total liabilities	CN¥1.85BFY2019	CN¥61.7MFY2026	−43.3%/yr
Shareholders’ equity	−CN¥1.62BFY2019	CN¥193.5MFY2026	—
Cash & short-term investments	CN¥23.8MFY2019	CN¥49.2MFY2026	+12.9%/yr
Total debt	CN¥162.6MFY2019	CN¥31.2MFY2026	−24.0%/yr
Net cash (debt)	−CN¥138.7MFY2019	CN¥18.0MFY2026	+CN¥156.8M
Working capital	−CN¥121.9MFY2019	CN¥133.6MFY2026	+CN¥255.5M
Current ratio	0.59FY2019	3.25FY2026	+2.67
Debt / equity	7.44FY2021	0.16FY2026	−7.28
Shares outstanding	306KFY2019	253KFY2026	−3.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

BQ assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

BQ liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

BQ debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

BQ balance sheet in Chinese yuan

Boqii Holding Limited annual balance sheet
	FY2026	FY2025	FY2023	FY2022	FY2021	FY2020	FY2019
Assets
Cash & short-term investments	CN¥49.2M	CN¥42.7M	CN¥159.6M	CN¥290.9M	CN¥460.8M	CN¥88.4M	CN¥23.8M
Cash & equivalents	CN¥49.2M	CN¥38.7M	CN¥89.8M	CN¥162.9M	CN¥292.2M	CN¥88.4M	CN¥23.8M
Short-term investments	CN¥0	CN¥4.0M	CN¥69.8M	CN¥128.1M	CN¥168.5M	CN¥0	—
Receivables	CN¥46.5M	CN¥61.0M	CN¥86.1M	CN¥108.1M	CN¥80.5M	CN¥106.3M	CN¥58.3M
Inventory	CN¥82.1M	CN¥40.1M	CN¥81.1M	CN¥109.9M	CN¥91.6M	CN¥63.1M	CN¥69.4M
Other current assets	CN¥15.0M	CN¥78.6M	CN¥79.4M	CN¥69.6M	CN¥61.9M	CN¥21.3M	CN¥21.1M
Total current assets	CN¥192.9M	CN¥222.3M	CN¥406.2M	CN¥578.6M	CN¥694.8M	CN¥279.1M	CN¥172.6M
Property, plant & equipment (net)	CN¥5.1M	CN¥7.3M	CN¥27.8M	CN¥46.3M	CN¥37.6M	CN¥19.9M	CN¥27.0M
Goodwill & intangible assets	CN¥93,648	CN¥14.7M	CN¥21.6M	CN¥66.2M	CN¥69.7M	CN¥73.7M	CN¥2.5M
Long-term investments	CN¥35.9M	CN¥65.0M	CN¥75.6M	CN¥82.3M	CN¥74.3M	CN¥73.4M	CN¥27.3M
Other non-current assets	CN¥13.1M	CN¥6.9M	CN¥9.6M	CN¥4.9M	CN¥4.1M	CN¥11.0M	CN¥6.1M
Total assets	CN¥247.1M	CN¥316.2M	CN¥540.8M	CN¥778.3M	CN¥880.6M	CN¥457.2M	CN¥235.5M
Liabilities
Accounts payable	CN¥8.1M	CN¥19.6M	CN¥56.0M	CN¥94.2M	CN¥71.8M	CN¥88.0M	CN¥106.0M
Short-term debt	CN¥28.8M	CN¥10.8M	CN¥95.5M	CN¥171.1M	CN¥93.6M	CN¥159.4M	CN¥107.1M
Deferred revenue	CN¥1.9M	CN¥3.9M	CN¥7.5M	CN¥10.8M	CN¥7.4M	CN¥15.5M	CN¥9.1M
Total current liabilities	CN¥59.3M	CN¥45.9M	CN¥196.1M	CN¥315.9M	CN¥216.6M	CN¥311.9M	CN¥294.5M
Long-term debt	CN¥0	CN¥38.6M	CN¥102.8M	CN¥181.1M	CN¥501.4M	CN¥230.4M	CN¥51.4M
Lease obligations	CN¥3.3M	CN¥2.6M	CN¥22.0M	CN¥38.2M	CN¥28.1M	CN¥13.3M	CN¥20.1M
Other long-term liabilities	CN¥2.5M	CN¥3.3M	CN¥16.9M	CN¥33.0M	CN¥34.9M	CN¥1.87B	CN¥1.51B
Total liabilities	CN¥61.7M	CN¥87.8M	CN¥315.9M	CN¥530.0M	CN¥752.9M	CN¥2.42B	CN¥1.85B
Shareholders' equity
Common stock & paid-in capital	CN¥5.4M	CN¥3.2M	CN¥455,000	CN¥454,000	CN¥446,000	CN¥139,000	CN¥130,000
Retained earnings (deficit)	−CN¥3.11B	−CN¥3.12B	−CN¥2.99B	−CN¥2.89B	−CN¥2.76B	−CN¥2.02B	−CN¥1.63B
Accumulated other comprehensive income	−CN¥54.2M	−CN¥33.9M	−CN¥33.3M	−CN¥42.6M	−CN¥17.1M	CN¥13.8M	CN¥7.6M
Minority interest	−CN¥8.2M	CN¥38.6M	CN¥46.7M	—	—	—	—
Total shareholders' equity	CN¥193.5M	CN¥189.8M	CN¥178.3M	CN¥199.2M	CN¥82.7M	−CN¥1.96B	−CN¥1.62B
Key figures
Total debt	CN¥31.2M	CN¥50.1M	CN¥209.5M	CN¥380.4M	CN¥615.0M	CN¥389.9M	CN¥162.6M
Net cash (debt)	CN¥18.0M	−CN¥7.4M	−CN¥49.9M	−CN¥89.4M	−CN¥154.2M	−CN¥301.5M	−CN¥138.7M
Working capital	CN¥133.6M	CN¥176.4M	CN¥210.0M	CN¥262.7M	CN¥478.2M	−CN¥32.8M	−CN¥121.9M
Tangible book value	CN¥193.4M	CN¥175.1M	CN¥156.7M	CN¥132.9M	CN¥13.0M	−CN¥2.03B	−CN¥1.63B
Shares outstanding	253K	1.2M	306K	306K	300K	4.9M	306K
Current ratio	3.25	4.85	2.07	1.83	3.21	0.89	0.59
Quick ratio	1.62	2.26	1.25	1.26	2.50	0.62	0.28
Debt / equity	0.16	0.26	1.18	1.91	7.44	—	—
Equity / assets	78.3%	60.0%	33.0%	25.6%	9.4%	−428.5%	−689.2%

Boqii Holding Limited quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	CN¥49.4M	CN¥49.4M	CN¥49.8M	CN¥30.5M	CN¥30.5M	CN¥43.8M	CN¥46.2M	CN¥46.2M	CN¥72.7M	CN¥102.2M	CN¥86.8M
Cash & equivalents	CN¥49.4M	CN¥49.4M	CN¥49.4M	CN¥30.5M	CN¥30.5M	CN¥38.7M	CN¥46.2M	CN¥46.2M	CN¥72.7M	CN¥72.7M	CN¥86.8M
Short-term investments	—	CN¥0	CN¥346,000	CN¥0	CN¥4.0M	CN¥5.2M	—	—	CN¥0	CN¥29.5M	CN¥0
Receivables	CN¥46.7M	CN¥11.9M	CN¥11.9M	CN¥75.3M	CN¥13.7M	CN¥29.3M	CN¥66.8M	CN¥47.1M	CN¥50.1M	CN¥50.1M	CN¥84.6M
Inventory	CN¥26.2M	CN¥26.2M	CN¥82.4M	CN¥31.7M	CN¥31.7M	CN¥100.7M	CN¥45.1M	CN¥45.1M	CN¥55.2M	CN¥85.2M	CN¥67.7M
Other current assets	CN¥71.3M	CN¥106.1M	CN¥49.5M	CN¥87.2M	CN¥148.7M	CN¥48.5M	CN¥110.6M	CN¥130.3M	CN¥100.2M	CN¥40.7M	CN¥84.5M
Total current assets	CN¥193.6M	CN¥193.6M	CN¥193.6M	CN¥224.6M	CN¥224.6M	CN¥222.3M	CN¥268.8M	CN¥268.8M	CN¥278.3M	CN¥278.3M	CN¥323.5M
Property, plant & equipment (net)	CN¥5.1M	CN¥5.1M	CN¥5.1M	CN¥5.6M	CN¥5.6M	CN¥7.3M	CN¥10.6M	CN¥10.6M	CN¥12.1M	CN¥12.1M	CN¥16.7M
Goodwill & intangible assets	CN¥94,000	CN¥94,000	CN¥94,000	CN¥113,000	CN¥113,000	CN¥14.7M	CN¥16.1M	CN¥16.1M	CN¥17.9M	CN¥17.9M	CN¥19.7M
Long-term investments	CN¥0	CN¥35.9M	CN¥0	CN¥65.2M	CN¥0	CN¥0	CN¥65.7M	CN¥0	CN¥65.9M	CN¥0	CN¥67.7M
Other non-current assets	CN¥43.0M	CN¥7.1M	CN¥43.0M	CN¥6.6M	CN¥71.8M	CN¥71.8M	CN¥6.2M	CN¥71.8M	CN¥9.1M	CN¥75.0M	CN¥8.9M
Total assets	CN¥241.8M	CN¥241.8M	CN¥241.8M	CN¥302.1M	CN¥302.1M	CN¥316.2M	CN¥367.3M	CN¥367.3M	CN¥383.2M	CN¥383.2M	CN¥436.5M
Liabilities
Accounts payable	CN¥8.2M	CN¥8.2M	CN¥9.4M	CN¥19.6M	CN¥19.6M	CN¥19.6M	CN¥42.7M	CN¥42.7M	CN¥24.3M	CN¥24.3M	CN¥54.8M
Short-term debt	CN¥39.8M	—	CN¥39.8M	CN¥16.9M	CN¥16.9M	CN¥10.8M	CN¥18.4M	CN¥18.4M	—	CN¥20.8M	CN¥21.4M
Deferred revenue	CN¥1.9M	—	—	CN¥910,000	CN¥3.9M	—	CN¥119,000	—	—	—	CN¥4.0M
Total current liabilities	CN¥59.5M	CN¥59.5M	CN¥59.5M	CN¥78.9M	CN¥78.9M	CN¥45.9M	CN¥86.1M	CN¥86.1M	CN¥72.0M	CN¥72.0M	CN¥120.9M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥200,000	CN¥0	CN¥0	CN¥40.7M	CN¥0	CN¥42.4M	CN¥0	CN¥41.3M
Lease obligations	—	CN¥3.3M	—	CN¥3.3M	—	—	CN¥6.6M	—	CN¥8.7M	—	CN¥13.3M
Other long-term liabilities	CN¥2.5M	CN¥2.5M	CN¥2.5M	CN¥2.5M	CN¥2.7M	CN¥41.9M	CN¥4.1M	CN¥44.9M	CN¥7.8M	CN¥50.3M	CN¥10.3M
Total liabilities	CN¥62.0M	CN¥62.0M	CN¥62.0M	CN¥81.6M	CN¥81.6M	CN¥87.8M	CN¥131.0M	CN¥131.0M	CN¥122.3M	CN¥122.3M	CN¥172.6M
Shareholders' equity
Common stock & paid-in capital	CN¥5.5M	—	CN¥5.5M	CN¥3.8M	CN¥3.8M	CN¥3.2M	CN¥1.0M	CN¥1.0M	—	CN¥1.0M	CN¥661,000
Retained earnings (deficit)	−CN¥3.12B	−CN¥3.12B	−CN¥3.12B	−CN¥3.13B	−CN¥3.12B	−CN¥3.11B	−CN¥3.09B	−CN¥3.08B	−CN¥3.06B	−CN¥3.06B	−CN¥3.03B
Accumulated other comprehensive income	−CN¥54.4M	—	−CN¥63.1M	−CN¥34.4M	−CN¥45.1M	−CN¥44.0M	−CN¥36.6M	−CN¥50.5M	—	−CN¥55.5M	−CN¥31.9M
Minority interest	—	−CN¥8.2M	—	CN¥42.5M	—	—	—	—	—	—	—
Total shareholders' equity	CN¥188.0M	CN¥188.0M	CN¥188.0M	CN¥178.0M	CN¥178.0M	CN¥189.8M	CN¥196.0M	CN¥196.0M	CN¥218.7M	CN¥218.7M	CN¥217.6M
Key figures
Total debt	CN¥42.1M	—	CN¥42.3M	CN¥19.5M	CN¥19.5M	CN¥50.3M	CN¥60.5M	CN¥60.5M	CN¥42.4M	CN¥67.9M	CN¥69.8M
Net cash (debt)	CN¥7.4M	—	CN¥7.5M	CN¥10.9M	CN¥10.9M	−CN¥6.5M	−CN¥14.2M	−CN¥14.2M	CN¥30.3M	CN¥34.3M	CN¥17.0M
Working capital	CN¥134.1M	CN¥134.1M	CN¥134.1M	CN¥145.7M	CN¥145.7M	CN¥176.4M	CN¥182.7M	CN¥182.7M	CN¥206.2M	CN¥206.2M	CN¥202.6M
Tangible book value	CN¥187.9M	CN¥187.9M	CN¥187.9M	CN¥177.9M	CN¥177.9M	CN¥175.1M	CN¥179.9M	CN¥179.9M	CN¥200.8M	CN¥200.8M	CN¥197.9M
Shares outstanding	306K	4.4M	306K	4.4M	200K	1.8M	629K	629K	1.0M	806K	30K
Current ratio	3.25	3.25	3.25	2.85	2.85	4.85	3.12	3.12	3.86	3.86	2.68
Quick ratio	1.62	1.03	1.04	1.34	0.56	1.59	1.31	1.08	1.71	2.11	1.42
Debt / equity	0.22	—	0.22	0.11	0.11	0.26	0.31	0.31	0.19	0.31	0.32
Equity / assets	77.8%	77.8%	77.8%	58.9%	58.9%	60.0%	53.4%	53.4%	57.1%	57.1%	49.8%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed July 13, 2026); data from EODHD.

BQ financial position

At the end of fiscal 2026 (March 31, 2026), Boqii had total assets of CN¥247.1 million (down 21.8% from a year earlier), total liabilities of CN¥61.7 million and shareholders' equity of CN¥193.5 million. It held CN¥49.2 million in cash and short-term investments against CN¥31.2 million of debt, a net cash position of CN¥18.0 million. Its current ratio was 3.25. In the latest quarter (ended June 30, 2026) total assets were CN¥241.8 million and equity CN¥188.0 million.

Related: BQ income statement, BQ cash flow statement, BQ key metrics. See the BQ stock overview for the latest quote and news.

BQ balance sheet FAQ

What are Boqii's total assets?

Boqii reported total assets of CN¥247.1 million at the end of fiscal 2026 (March 31, 2026), compared with CN¥316.2 million a year earlier.

How much debt does Boqii have?

Boqii had CN¥31.2 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.16.

How much cash does Boqii have?

Boqii held CN¥49.2 million in cash and short-term investments at the end of fiscal 2026; with CN¥31.2 million of debt that is net cash of CN¥18.0 million.

What is Boqii's book value?

Boqii's shareholders' equity (book value) was CN¥193.5 million at the end of fiscal 2026.

What is Boqii's current ratio?

Boqii had current assets of CN¥192.9 million and current liabilities of CN¥59.3 million, a current ratio of 3.25 (it can cover its short-term obligations).

How much goodwill does Boqii have?

Boqii carried CN¥0.1 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2026.