DSC Holdings Ltd. (DSC) Balance Sheet

NASDAQ: DSCAssets, liabilities, debt and equity over 4 years.

DSC balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥1.44B assets = CN¥17.27B liabilities + −CN¥15.83B equity

Liabilities exceed assets: shareholders’ equity is negative (−CN¥15.83B).

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

DSC financial health

Current ratio1.41

Adequate · current assets cover current liabilities 1.41×

Equity / assets−1,102.9%

Thin equity · of assets funded by shareholders

Goodwill & intangibles46.1%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

DSC balance sheet trends, 2022–2025

DSC Holdings Ltd. American Depositary Shares balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥1.50B2022	CN¥1.44B2025	−1.4%/yr
Total liabilities	CN¥7.27B2022	CN¥17.27B2025	+33.4%/yr
Shareholders’ equity	−CN¥5.78B2022	−CN¥15.83B2025	—
Cash & short-term investments	CN¥161.0M2022	CN¥210.6M2025	+9.4%/yr
Working capital	CN¥88.8M2022	CN¥174.0M2025	+CN¥85.2M
Current ratio	1.212022	1.412025	+0.19
Shares outstanding	1.00B2022	1.00B2025	0.0%/yr

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

DSC assets

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

DSC liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

DSC debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

DSC balance sheet in Chinese yuan

DSC Holdings Ltd. American Depositary Shares annual balance sheet
	2025	2024	2023	2022
Assets
Cash & short-term investments	CN¥210.6M	CN¥215.4M	CN¥425.4M	CN¥161.0M
Cash & equivalents	CN¥178.9M	CN¥215.4M	CN¥295.1M	CN¥161.0M
Short-term investments	CN¥31.7M	CN¥0	CN¥130.3M	CN¥0
Receivables	CN¥60.8M	CN¥74.2M	CN¥145.4M	CN¥105.4M
Inventory	CN¥0	CN¥0	CN¥0	CN¥1.1M
Other current assets	CN¥330.7M	CN¥299.6M	CN¥194.2M	CN¥236.6M
Total current assets	CN¥602.0M	CN¥589.1M	CN¥765.0M	CN¥504.0M
Property, plant & equipment (net)	CN¥17.0M	CN¥33.6M	CN¥26.8M	CN¥115.9M
Goodwill & intangible assets	CN¥661.3M	CN¥677.3M	CN¥752.7M	CN¥780.1M
Long-term investments	CN¥7.6M	CN¥6.8M	CN¥11.2M	CN¥20.0M
Other non-current assets	CN¥147.6M	CN¥223.9M	CN¥102.4M	CN¥77.7M
Total assets	CN¥1.44B	CN¥1.53B	CN¥1.66B	CN¥1.50B
Liabilities
Accounts payable	CN¥60.8M	CN¥56.7M	CN¥38.0M	CN¥27.0M
Total current liabilities	CN¥428.0M	CN¥424.8M	CN¥416.1M	CN¥415.2M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥13.4M	CN¥26.0M	CN¥16.7M	CN¥98.3M
Other long-term liabilities	CN¥16.84B	CN¥15.09B	CN¥13.57B	CN¥6.86B
Total liabilities	CN¥17.27B	CN¥15.51B	CN¥13.98B	CN¥7.27B
Shareholders' equity
Retained earnings (deficit)	−CN¥15.83B	−CN¥13.98B	−CN¥12.32B	−CN¥7.16B
Minority interest	CN¥89,000	CN¥929,000	−CN¥3.6M	CN¥2.9M
Total shareholders' equity	−CN¥15.83B	−CN¥13.98B	−CN¥12.32B	−CN¥5.78B
Key figures
Working capital	CN¥174.0M	CN¥164.3M	CN¥348.9M	CN¥88.8M
Tangible book value	−CN¥16.49B	−CN¥14.66B	−CN¥13.07B	−CN¥6.56B
Shares outstanding	1.00B	1.00B	1.00B	1.00B
Current ratio	1.41	1.39	1.84	1.21
Quick ratio	0.63	0.68	1.37	0.64
Equity / assets	−1,102.9%	−913.4%	−743.1%	−385.9%

DSC Holdings Ltd. American Depositary Shares quarterly balance sheet
	Jun '26	Dec '24	Sep '24
Assets
Cash & short-term investments	CN¥530.7M	CN¥215.4M	CN¥456.9M
Cash & equivalents	CN¥451.3M	CN¥215.4M	CN¥456.9M
Short-term investments	CN¥79.4M	CN¥0	—
Receivables	CN¥49.4M	CN¥74.2M	CN¥75.1M
Inventory	CN¥0	CN¥0	CN¥0
Other current assets	CN¥368.9M	CN¥299.6M	CN¥294.7M
Total current assets	CN¥949.0M	CN¥589.1M	CN¥826.7M
Property, plant & equipment (net)	CN¥10.4M	CN¥33.6M	CN¥16.8M
Goodwill & intangible assets	CN¥665.9M	CN¥677.3M	CN¥682.9M
Long-term investments	CN¥7.3M	CN¥6.8M	CN¥12.6M
Other non-current assets	CN¥112.9M	CN¥223.9M	CN¥90.1M
Total assets	CN¥1.75B	CN¥1.53B	CN¥1.63B
Liabilities
Accounts payable	CN¥61.6M	CN¥56.7M	CN¥54.2M
Total current liabilities	CN¥506.2M	CN¥424.8M	CN¥552.6M
Long-term debt	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥7.6M	CN¥26.0M	CN¥7.3M
Other long-term liabilities	CN¥276.7M	CN¥15.09B	CN¥14.65B
Total liabilities	CN¥782.9M	CN¥15.51B	CN¥15.20B
Shareholders' equity
Retained earnings (deficit)	−CN¥17.07B	−CN¥13.98B	−CN¥13.56B
Minority interest	CN¥60,000	CN¥929,000	—
Total shareholders' equity	CN¥962.5M	−CN¥13.98B	−CN¥13.56B
Key figures
Working capital	CN¥442.8M	CN¥164.3M	CN¥274.1M
Tangible book value	CN¥296.6M	−CN¥14.66B	−CN¥14.25B
Shares outstanding	1.00B	1.00B	1.00B
Current ratio	1.87	1.39	1.50
Quick ratio	1.15	0.68	0.96
Equity / assets	55.1%	−913.4%	−832.6%

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

DSC financial position

At the end of fiscal 2025 (December 31, 2025), DSC Holdings Ltd. had total assets of CN¥1.4 billion (down 6.2% from a year earlier), total liabilities of CN¥17.3 billion and shareholders' equity of -CN¥15.8 billion. Its current ratio was 1.41. In the latest quarter (ended June 30, 2026) total assets were CN¥1.7 billion and equity CN¥962.5 million.

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

DSC balance sheet FAQ

What are DSC Holdings Ltd.'s total assets?

DSC Holdings Ltd. reported total assets of CN¥1.4 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥1.5 billion a year earlier.

How much cash does DSC Holdings Ltd. have?

DSC Holdings Ltd. held CN¥210.6 million in cash and short-term investments at the end of fiscal 2025.

What is DSC Holdings Ltd.'s book value?

DSC Holdings Ltd.'s shareholders' equity (book value) was -CN¥15.8 billion at the end of fiscal 2025.

What is DSC Holdings Ltd.'s current ratio?

DSC Holdings Ltd. had current assets of CN¥602.0 million and current liabilities of CN¥428.0 million, a current ratio of 1.41 (it can cover its short-term obligations).

How much goodwill does DSC Holdings Ltd. have?

DSC Holdings Ltd. carried CN¥661.3 million of goodwill and intangible assets, 46.1% of total assets, at the end of fiscal 2025.