DDC Enterprise Limited (DDC) Balance Sheet

NYSE American: DDCAssets, liabilities, debt and equity over 6 years.

DDC balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥1.40B assets = CN¥844.0M liabilities + CN¥551.6M equity

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

DDC financial health

Current ratio0.88

Tight · current assets cover current liabilities 0.88×

Debt / equity1.24

Moderate leverage · CN¥1.24 of debt for each $1 of equity

Equity / assets35.7%

Balanced · of assets funded by shareholders

Cash / debt24.5%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles0.5%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

DDC balance sheet trends, 2020–2025

DDC Enterprise Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥130.8M2020	CN¥1.40B2025	+60.6%/yr
Total liabilities	CN¥782.7M2020	CN¥844.0M2025	+1.5%/yr
Shareholders’ equity	−CN¥656.5M2020	CN¥498.1M2025	—
Cash & short-term investments	CN¥24.5M2020	CN¥151.5M2025	+44.0%/yr
Total debt	CN¥188.2M2020	CN¥618.7M2025	+26.9%/yr
Net cash (debt)	−CN¥163.7M2020	−CN¥467.2M2025	−CN¥303.5M
Working capital	−CN¥100.5M2020	−CN¥82.9M2025	+CN¥17.6M
Current ratio	0.492020	0.882025	+0.38
Debt / equity	2.702023	1.242025	−1.46
Shares outstanding	806K2020	1.4M2025	+12.4%/yr

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

DDC assets

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

DDC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

DDC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

DDC balance sheet in Chinese yuan

DDC Enterprise Limited annual balance sheet
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	CN¥151.5M	CN¥191.0M	CN¥182.9M	CN¥26.8M	CN¥13.5M	CN¥24.5M
Cash & equivalents	CN¥21.1M	CN¥61.0M	CN¥78.8M	CN¥26.8M	CN¥13.5M	CN¥24.5M
Short-term investments	CN¥130.4M	CN¥130.1M	CN¥104.1M	CN¥0	—	—
Receivables	CN¥383.7M	CN¥148.2M	CN¥82.7M	CN¥34.1M	CN¥17.9M	CN¥29.9M
Inventory	CN¥8.2M	CN¥4.7M	CN¥10.0M	CN¥6.1M	CN¥9.6M	CN¥5.0M
Other current assets	CN¥41.7M	CN¥33.2M	CN¥44.9M	CN¥88.6M	CN¥78.4M	CN¥38.4M
Total current assets	CN¥585.1M	CN¥377.1M	CN¥320.5M	CN¥155.6M	CN¥119.5M	CN¥97.7M
Property, plant & equipment (net)	CN¥8.9M	CN¥5.7M	CN¥6.8M	CN¥6.6M	CN¥4.2M	CN¥5.8M
Goodwill & intangible assets	CN¥6.6M	CN¥37.5M	CN¥56.4M	CN¥36.2M	CN¥23.5M	CN¥22.9M
Long-term investments	CN¥0	CN¥8.5M	CN¥14.1M	CN¥22.4M	CN¥51.7M	CN¥2.5M
Other non-current assets	CN¥795.0M	CN¥56.3M	CN¥43.2M	CN¥34.4M	CN¥29.6M	CN¥1.9M
Total assets	CN¥1.40B	CN¥485.2M	CN¥440.9M	CN¥255.4M	CN¥228.5M	CN¥130.8M
Liabilities
Accounts payable	CN¥25.5M	CN¥24.3M	CN¥20.8M	CN¥17.0M	CN¥18.5M	CN¥14.9M
Short-term debt	CN¥454.4M	CN¥174.3M	CN¥103.5M	CN¥120.2M	CN¥85.7M	CN¥131.8M
Deferred revenue	CN¥14.3M	CN¥13.3M	CN¥14.5M	CN¥7.0M	CN¥3.5M	CN¥3.3M
Total current liabilities	CN¥668.0M	CN¥370.6M	CN¥281.4M	CN¥261.8M	CN¥177.0M	CN¥198.3M
Long-term debt	CN¥157.9M	CN¥14.5M	CN¥73.9M	CN¥81.7M	CN¥58.5M	CN¥56.3M
Lease obligations	CN¥8.5M	CN¥5.7M	CN¥6.8M	CN¥6.2M	CN¥0	—
Other long-term liabilities	CN¥18.1M	CN¥17.8M	CN¥18.4M	CN¥1.40B	CN¥1.18B	CN¥528.1M
Total liabilities	CN¥844.0M	CN¥402.9M	CN¥373.7M	CN¥1.74B	CN¥1.41B	CN¥782.7M
Shareholders' equity
Common stock & paid-in capital	CN¥65.8M	CN¥9.1M	CN¥2.3M	CN¥681,550	CN¥642,826	CN¥187,098
Retained earnings (deficit)	−CN¥2.17B	−CN¥1.81B	−CN¥1.64B	−CN¥1.48B	−CN¥1.28B	−CN¥736.7M
Accumulated other comprehensive income	−CN¥125.8M	−CN¥131.8M	−CN¥135.6M	−CN¥83.1M	CN¥37.4M	CN¥21.5M
Minority interest	CN¥53.5M	CN¥34.8M	CN¥21.6M	CN¥14.4M	—	—
Total shareholders' equity	CN¥498.1M	CN¥47.4M	CN¥67.2M	−CN¥1.50B	−CN¥1.19B	−CN¥656.5M
Key figures
Total debt	CN¥618.7M	CN¥192.5M	CN¥181.5M	CN¥206.7M	CN¥144.3M	CN¥188.2M
Net cash (debt)	−CN¥467.2M	−CN¥1.4M	CN¥1.4M	−CN¥179.9M	−CN¥130.8M	−CN¥163.7M
Working capital	−CN¥82.9M	CN¥6.5M	CN¥39.1M	−CN¥106.2M	−CN¥57.6M	−CN¥100.5M
Tangible book value	CN¥491.5M	CN¥9.9M	CN¥10.8M	−CN¥1.54B	−CN¥1.21B	−CN¥679.4M
Shares outstanding	1.4M	1.4M	19.3M	806K	806K	806K
Current ratio	0.88	1.02	1.14	0.59	0.67	0.49
Quick ratio	0.80	0.92	0.94	0.23	0.18	0.27
Debt / equity	1.24	4.06	2.70	—	—	—
Equity / assets	35.7%	9.8%	15.3%	−588.1%	−519.3%	−501.8%

DDC Enterprise Limited quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Jun '25	Mar '25	Dec '24	Jun '24	Dec '23	Mar '23	Dec '22
Assets
Cash & short-term investments	CN¥134.4M	CN¥151.5M	CN¥151.5M	CN¥179.7M	CN¥191.0M	CN¥191.0M	CN¥204.8M	CN¥182.9M	CN¥18.1M	CN¥26.8M
Cash & equivalents	CN¥4.9M	CN¥21.1M	CN¥21.1M	CN¥48.4M	CN¥61.0M	CN¥61.0M	CN¥79.9M	CN¥78.8M	CN¥18.1M	CN¥26.8M
Short-term investments	CN¥129.4M	CN¥130.4M	CN¥130.4M	CN¥131.3M	CN¥130.1M	CN¥130.1M	CN¥124.9M	CN¥104.1M	—	—
Receivables	CN¥40.9M	CN¥383.7M	CN¥41.6M	CN¥25.4M	CN¥148.2M	CN¥148.2M	CN¥54.9M	CN¥82.7M	CN¥20.6M	CN¥34.1M
Inventory	CN¥9.3M	CN¥8.2M	CN¥8.2M	CN¥3.1M	CN¥4.7M	CN¥4.7M	CN¥10.1M	CN¥10.0M	CN¥5.1M	CN¥6.1M
Other current assets	CN¥402.8M	CN¥41.7M	CN¥383.8M	CN¥205.7M	CN¥33.2M	CN¥33.2M	CN¥117.0M	CN¥44.9M	CN¥88.1M	CN¥88.6M
Total current assets	CN¥587.4M	CN¥585.1M	CN¥585.1M	CN¥413.9M	CN¥377.1M	CN¥377.1M	CN¥386.9M	CN¥320.5M	CN¥131.8M	CN¥155.6M
Property, plant & equipment (net)	CN¥7.7M	CN¥8.9M	CN¥8.9M	CN¥4.9M	CN¥5.7M	CN¥5.7M	CN¥5.5M	CN¥6.8M	CN¥7.9M	CN¥6.6M
Goodwill & intangible assets	CN¥6.3M	CN¥6.6M	CN¥6.6M	CN¥36.7M	CN¥37.5M	CN¥37.5M	CN¥132.6M	CN¥56.4M	CN¥35.5M	CN¥36.2M
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥8.5M	CN¥0	CN¥8.5M	CN¥14.1M	CN¥14.1M	CN¥22.9M	CN¥21.8M
Other non-current assets	CN¥1.17B	CN¥795.0M	CN¥795.0M	CN¥180.9M	CN¥64.8M	CN¥56.3M	CN¥41.4M	CN¥43.2M	CN¥42.7M	CN¥35.1M
Total assets	CN¥1.77B	CN¥1.40B	CN¥1.40B	CN¥644.8M	CN¥485.2M	CN¥485.2M	CN¥580.5M	CN¥440.9M	CN¥240.9M	CN¥255.4M
Liabilities
Accounts payable	CN¥27.4M	CN¥25.5M	CN¥25.5M	CN¥24.8M	CN¥24.3M	CN¥24.3M	CN¥39.8M	CN¥20.8M	CN¥13.6M	CN¥17.0M
Short-term debt	CN¥58.5M	CN¥454.4M	—	CN¥119.2M	CN¥174.3M	CN¥174.3M	CN¥144.7M	CN¥103.5M	CN¥132.0M	CN¥120.2M
Deferred revenue	CN¥11.6M	CN¥14.3M	—	CN¥11.2M	CN¥13.3M	CN¥13.3M	CN¥31.6M	CN¥14.5M	CN¥6.0M	CN¥7.0M
Total current liabilities	CN¥320.3M	CN¥668.0M	CN¥668.0M	CN¥351.4M	CN¥370.6M	CN¥370.6M	CN¥411.3M	CN¥281.4M	CN¥265.1M	CN¥261.8M
Long-term debt	CN¥146.2M	CN¥0	CN¥157.9M	CN¥28.0M	CN¥0	CN¥14.5M	CN¥5.8M	CN¥73.9M	CN¥92.0M	CN¥76.0M
Lease obligations	CN¥7.3M	—	CN¥8.5M	CN¥5.0M	—	CN¥5.7M	CN¥5.6M	CN¥6.8M	CN¥6.9M	CN¥7.4M
Other long-term liabilities	CN¥17.6M	CN¥175.9M	CN¥18.1M	CN¥16.9M	CN¥32.3M	CN¥17.8M	CN¥22.7M	CN¥18.4M	CN¥1.38B	CN¥1.41B
Total liabilities	CN¥484.1M	CN¥844.0M	CN¥844.0M	CN¥396.2M	CN¥402.9M	CN¥402.9M	CN¥439.8M	CN¥373.7M	CN¥1.74B	CN¥1.74B
Shareholders' equity
Common stock & paid-in capital	CN¥126.5M	CN¥65.8M	—	CN¥21.8M	CN¥9.1M	CN¥9.1M	CN¥3.6M	CN¥2.3M	CN¥681,550	CN¥681,550
Retained earnings (deficit)	−CN¥2.44B	−CN¥2.17B	−CN¥2.17B	−CN¥1.79B	−CN¥1.81B	−CN¥1.81B	−CN¥1.68B	−CN¥1.64B	−CN¥1.51B	−CN¥1.48B
Accumulated other comprehensive income	−CN¥134.6M	−CN¥125.8M	—	−CN¥127.7M	−CN¥131.8M	−CN¥131.8M	−CN¥134.6M	−CN¥135.6M	−CN¥64.5M	−CN¥83.1M
Minority interest	CN¥62.3M	—	CN¥53.5M	CN¥43.8M	—	CN¥34.8M	—	—	—	—
Total shareholders' equity	CN¥1.23B	CN¥498.1M	CN¥498.1M	CN¥204.8M	CN¥47.4M	CN¥47.4M	CN¥114.6M	CN¥45.6M	−CN¥1.51B	−CN¥1.50B
Key figures
Total debt	CN¥210.6M	CN¥618.7M	CN¥157.9M	CN¥150.4M	CN¥192.5M	CN¥192.5M	CN¥154.0M	CN¥181.5M	CN¥213.1M	CN¥206.7M
Net cash (debt)	−CN¥76.3M	−CN¥467.2M	−CN¥6.3M	CN¥29.3M	−CN¥1.4M	−CN¥1.4M	CN¥50.9M	CN¥1.4M	−CN¥195.0M	−CN¥179.9M
Working capital	CN¥267.1M	−CN¥82.9M	−CN¥82.9M	CN¥62.5M	CN¥6.5M	CN¥6.5M	−CN¥24.4M	CN¥39.1M	−CN¥133.2M	−CN¥106.2M
Tangible book value	CN¥1.22B	CN¥491.5M	CN¥491.5M	CN¥168.1M	CN¥9.9M	CN¥9.9M	−CN¥18.0M	−CN¥10.8M	−CN¥1.55B	−CN¥1.54B
Shares outstanding	45.6M	—	23.3M	8.3M	—	836K	1.3M	836K	806K	806K
Current ratio	1.83	0.88	0.88	1.18	1.02	1.02	0.94	1.14	0.50	0.59
Quick ratio	0.55	0.80	0.29	0.58	0.92	0.92	0.63	0.94	0.15	0.23
Debt / equity	0.17	1.24	0.32	0.73	4.06	4.06	1.34	3.98	—	—
Equity / assets	69.2%	35.7%	35.7%	31.8%	9.8%	9.8%	19.8%	10.3%	−628.7%	−588.1%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 21, 2026); data from EODHD.

DDC financial position

At the end of fiscal 2025 (December 31, 2025), DDC Enterprise had total assets of CN¥1.4 billion (up 187.6% from a year earlier), total liabilities of CN¥844.0 million and shareholders' equity of CN¥498.1 million. It held CN¥151.5 million in cash and short-term investments against CN¥618.7 million of debt, net debt of CN¥467.2 million. Its current ratio was 0.88. In the latest quarter (ended June 30, 2026) total assets were CN¥1.8 billion and equity CN¥1.2 billion.

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

DDC balance sheet FAQ

What are DDC Enterprise's total assets?

DDC Enterprise reported total assets of CN¥1.4 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥485.2 million a year earlier.

How much debt does DDC Enterprise have?

DDC Enterprise had CN¥618.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.24.

How much cash does DDC Enterprise have?

DDC Enterprise held CN¥151.5 million in cash and short-term investments at the end of fiscal 2025; with CN¥618.7 million of debt that is net debt of CN¥467.2 million.

What is DDC Enterprise's book value?

DDC Enterprise's shareholders' equity (book value) was CN¥498.1 million at the end of fiscal 2025.

What is DDC Enterprise's current ratio?

DDC Enterprise had current assets of CN¥585.1 million and current liabilities of CN¥668.0 million, a current ratio of 0.88 (current liabilities exceed current assets).

How much goodwill does DDC Enterprise have?

DDC Enterprise carried CN¥6.6 million of goodwill and intangible assets, 0.5% of total assets, at the end of fiscal 2025.