WeRide Inc. (WRD) Balance Sheet

NASDAQ: WRDAssets, liabilities, debt and equity over 9 years.

WRD balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥8.94B assets = CN¥1.04B liabilities + CN¥7.91B equity

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

WRD financial health

Current ratio8.20

Comfortable · current assets cover current liabilities 8.20×

Debt / equity0.05

Low leverage · CN¥0.05 of debt for each $1 of equity

Equity / assets88.4%

Equity-funded · of assets funded by shareholders

Cash / debt1,877.8%

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

Goodwill & intangibles0.7%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

WRD balance sheet trends, 2014–2025

WeRide Inc. American Depositary Shares balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥335.7M2014	CN¥8.94B2025	+50.7%/yr
Total liabilities	CN¥156.7M2014	CN¥1.04B2025	+26.6%/yr
Shareholders’ equity	CN¥179.0M2014	CN¥7.91B2025	+60.6%/yr
Cash & short-term investments	CN¥12.2M2014	CN¥7.13B2025	+121.8%/yr
Total debt	CN¥111.1M2014	CN¥379.7M2025	+16.6%/yr
Net cash (debt)	−CN¥98.9M2014	CN¥6.75B2025	+CN¥6.8B
Working capital	CN¥8.7M2014	CN¥7.21B2025	+CN¥7.2B
Current ratio	1.232014	8.202025	+6.97
Debt / equity	0.622014	0.052025	−0.57
Shares outstanding	91.3M2014	308.2M2025	+16.4%/yr

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

WRD assets

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

WRD liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

WRD debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

WRD balance sheet in Chinese yuan

WeRide Inc. American Depositary Shares annual balance sheet
	2025	2024	2023	2022	2021	2017	2016	2015	2014
Assets
Cash & short-term investments	CN¥7.13B	CN¥6.57B	CN¥4.53B	CN¥4.51B	CN¥2.78B	CN¥226,000	CN¥3.1M	CN¥22.2M	CN¥12.2M
Cash & equivalents	CN¥6.68B	CN¥4.27B	CN¥1.66B	CN¥2.23B	CN¥2.73B	CN¥226,000	CN¥3.1M	CN¥22.2M	CN¥12.2M
Short-term investments	CN¥445.9M	CN¥2.31B	CN¥2.87B	CN¥2.28B	CN¥53.8M	—	—	—	—
Receivables	CN¥494.8M	CN¥437.3M	CN¥563.2M	CN¥391.2M	CN¥90.2M	CN¥84.1M	CN¥26.4M	CN¥7.9M	CN¥26.3M
Inventory	CN¥321.2M	CN¥204.7M	CN¥218.2M	CN¥156.0M	CN¥114.6M	CN¥3.3M	CN¥0	CN¥559,939	CN¥107,803
Other current assets	CN¥270.2M	CN¥72.4M	CN¥60.1M	CN¥16.7M	CN¥35.7M	CN¥2.3M	CN¥1.6M	CN¥4.2M	CN¥7.6M
Total current assets	CN¥8.22B	CN¥7.29B	CN¥5.37B	CN¥5.07B	CN¥3.02B	CN¥90.0M	CN¥31.2M	CN¥34.9M	CN¥46.2M
Property, plant & equipment (net)	CN¥444.9M	CN¥271.2M	CN¥171.1M	CN¥201.1M	CN¥193.7M	CN¥2.68B	CN¥1.41B	CN¥390.0M	CN¥287.8M
Goodwill & intangible assets	CN¥62.8M	CN¥66.4M	CN¥69.4M	CN¥73.4M	CN¥75.8M	CN¥0	CN¥0	CN¥0	CN¥0
Long-term investments	CN¥188.1M	CN¥56.9M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥30.3M	CN¥11.2M	CN¥3.8M	CN¥37.4M	CN¥17.6M	CN¥3.7M	CN¥3.2M	CN¥2.9M	CN¥1.7M
Total assets	CN¥8.94B	CN¥7.69B	CN¥5.61B	CN¥5.39B	CN¥3.31B	CN¥2.78B	CN¥1.44B	CN¥427.8M	CN¥335.7M
Liabilities
Accounts payable	CN¥163.1M	CN¥20.7M	CN¥17.0M	CN¥11.5M	CN¥15.9M	CN¥53.0M	CN¥21.0M	CN¥17.6M	CN¥27.9M
Short-term debt	CN¥356.4M	CN¥66.9M	CN¥31.1M	CN¥32.0M	CN¥32.5M	—	—	—	—
Deferred revenue	CN¥28.5M	CN¥189.0M	CN¥188.9M	CN¥143.3M	CN¥3.8M	—	—	—	—
Total current liabilities	CN¥1.00B	CN¥542.5M	CN¥8.59B	CN¥361.9M	CN¥234.3M	CN¥311.0M	CN¥58.6M	CN¥27.2M	CN¥37.5M
Long-term debt	CN¥0	CN¥50.0M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥55.2M	CN¥63.0M	CN¥53.4M	CN¥67.9M	CN¥93.8M	—	—	—	—
Other long-term liabilities	CN¥34.5M	CN¥35.2M	CN¥8.26B	CN¥7.11B	CN¥4.04B	CN¥1.32B	CN¥375.8M	CN¥126.5M	CN¥119.2M
Total liabilities	CN¥1.04B	CN¥627.8M	CN¥8.67B	CN¥7.47B	CN¥4.27B	CN¥1.63B	CN¥434.4M	CN¥153.7M	CN¥156.7M
Shareholders' equity
Common stock & paid-in capital	—	CN¥58,000	CN¥8,000	CN¥8,000	CN¥7,000	CN¥1.0M	CN¥917,000	CN¥324.7M	CN¥199.6M
Retained earnings (deficit)	−CN¥10.29B	−CN¥8.63B	−CN¥6.11B	−CN¥4.13B	−CN¥2.83B	CN¥25.8M	−CN¥10.4M	−CN¥50.6M	−CN¥20.6M
Accumulated other comprehensive income	—	CN¥822.6M	CN¥779.7M	CN¥741.9M	CN¥840.0M	—	—	—	—
Total shareholders' equity	CN¥7.91B	CN¥7.07B	−CN¥3.05B	−CN¥2.08B	−CN¥965.0M	CN¥1.15B	CN¥1.01B	CN¥274.1M	CN¥179.0M
Key figures
Total debt	CN¥379.7M	CN¥143.0M	CN¥53.4M	CN¥67.9M	CN¥93.8M	CN¥770.6M	CN¥242.8M	CN¥118.0M	CN¥111.1M
Net cash (debt)	CN¥6.75B	CN¥6.43B	CN¥4.48B	CN¥4.44B	CN¥2.69B	−CN¥770.4M	−CN¥239.6M	−CN¥95.8M	−CN¥98.9M
Working capital	CN¥7.21B	CN¥6.75B	−CN¥3.22B	CN¥4.71B	CN¥2.79B	−CN¥221.1M	−CN¥27.4M	CN¥7.8M	CN¥8.7M
Tangible book value	CN¥7.84B	CN¥7.00B	−CN¥3.12B	−CN¥2.16B	−CN¥1.04B	CN¥1.15B	CN¥1.01B	CN¥274.1M	CN¥179.0M
Shares outstanding	308.2M	275.4M	268.0M	268.0M	269.4M	96.3M	94.5M	91.3M	91.3M
Current ratio	8.20	13.43	0.63	14.02	12.89	0.29	0.53	1.29	1.23
Quick ratio	7.61	12.92	0.59	13.54	12.24	0.27	0.50	1.11	1.03
Debt / equity	0.05	0.02	—	—	—	0.67	0.24	0.43	0.62
Equity / assets	88.4%	91.8%	−54.4%	−38.7%	−29.2%	41.2%	69.9%	64.1%	53.3%

WeRide Inc. American Depositary Shares quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Dec '23
Assets
Cash & short-term investments	CN¥5.38B	CN¥6.19B	CN¥7.13B	CN¥5.42B	CN¥5.82B	CN¥6.13B	CN¥6.57B	CN¥3.46B	CN¥4.19B	CN¥4.53B
Cash & equivalents	CN¥4.28B	CN¥5.17B	CN¥6.68B	CN¥3.45B	CN¥3.84B	CN¥4.18B	CN¥4.27B	CN¥1.06B	CN¥1.83B	CN¥1.66B
Short-term investments	CN¥1.10B	CN¥1.02B	CN¥445.9M	CN¥1.97B	CN¥1.99B	CN¥1.95B	CN¥2.31B	CN¥2.40B	CN¥2.36B	CN¥2.87B
Receivables	CN¥479.7M	CN¥459.7M	CN¥494.8M	CN¥768.3M	CN¥518.8M	CN¥476.4M	CN¥437.3M	CN¥532.0M	CN¥487.2M	CN¥563.2M
Inventory	CN¥439.1M	CN¥336.8M	CN¥321.2M	CN¥309.4M	CN¥289.9M	CN¥254.4M	CN¥204.7M	CN¥277.0M	CN¥274.1M	CN¥218.2M
Other current assets	CN¥332.1M	CN¥291.0M	CN¥270.2M	CN¥4.6M	CN¥3.3M	CN¥5.0M	CN¥72.4M	CN¥4.7M	CN¥54.9M	CN¥60.1M
Total current assets	CN¥6.63B	CN¥7.28B	CN¥8.22B	CN¥6.50B	CN¥6.64B	CN¥6.87B	CN¥7.29B	CN¥4.27B	CN¥5.00B	CN¥5.37B
Property, plant & equipment (net)	CN¥712.8M	CN¥495.8M	CN¥444.9M	CN¥361.2M	CN¥354.9M	CN¥282.0M	CN¥271.2M	CN¥178.0M	CN¥168.3M	CN¥171.1M
Goodwill & intangible assets	CN¥61.2M	CN¥61.3M	CN¥62.8M	CN¥63.8M	CN¥64.3M	CN¥65.3M	CN¥66.4M	CN¥66.0M	CN¥67.1M	CN¥69.4M
Long-term investments	CN¥252.4M	CN¥198.0M	CN¥188.1M	CN¥64.7M	CN¥58.2M	CN¥46.4M	CN¥56.9M	CN¥96.7M	CN¥0	CN¥0
Other non-current assets	CN¥101.0M	CN¥85.7M	CN¥30.3M	CN¥27.8M	CN¥33.3M	CN¥53.0M	CN¥11.2M	CN¥28.6M	CN¥10.2M	CN¥3.8M
Total assets	CN¥7.76B	CN¥8.12B	CN¥8.94B	CN¥7.02B	CN¥7.15B	CN¥7.31B	CN¥7.69B	CN¥4.64B	CN¥5.25B	CN¥5.61B
Liabilities
Accounts payable	CN¥243.6M	CN¥190.3M	CN¥163.1M	CN¥61.3M	CN¥47.1M	CN¥25.9M	CN¥20.7M	CN¥12.6M	CN¥13.2M	CN¥17.0M
Short-term debt	CN¥520.4M	CN¥318.6M	CN¥356.4M	CN¥278.3M	CN¥136.7M	CN¥97.2M	CN¥66.9M	CN¥28.6M	CN¥25.0M	CN¥31.1M
Deferred revenue	—	CN¥30.9M	CN¥28.5M	CN¥31.2M	CN¥30.6M	CN¥5.8M	CN¥189.0M	CN¥16.1M	CN¥189.5M	CN¥188.9M
Total current liabilities	CN¥1.24B	CN¥953.9M	CN¥1.00B	CN¥774.9M	CN¥601.3M	CN¥504.8M	CN¥542.5M	CN¥8.93B	CN¥366.7M	CN¥8.59B
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥47.5M	CN¥47.5M	CN¥50.0M	CN¥50.0M	CN¥0	CN¥0
Lease obligations	CN¥130.8M	CN¥46.6M	CN¥55.2M	CN¥52.0M	CN¥55.6M	CN¥56.8M	CN¥63.0M	CN¥62.2M	CN¥42.4M	CN¥53.4M
Other long-term liabilities	CN¥123.4M	CN¥48.9M	CN¥34.5M	CN¥30.6M	CN¥33.3M	CN¥25.9M	CN¥35.2M	CN¥43.0M	CN¥8.55B	CN¥8.26B
Total liabilities	CN¥1.36B	CN¥1.00B	CN¥1.04B	CN¥805.5M	CN¥682.1M	CN¥578.2M	CN¥627.8M	CN¥9.02B	CN¥8.92B	CN¥8.67B
Shareholders' equity
Common stock & paid-in capital	CN¥6.40B	—	—	—	—	—	CN¥58,000	—	CN¥8,000	CN¥8,000
Retained earnings (deficit)	−CN¥11.08B	—	−CN¥10.29B	—	—	—	−CN¥8.63B	—	−CN¥7.00B	−CN¥6.11B
Accumulated other comprehensive income	—	—	—	—	—	—	CN¥822.6M	—	CN¥750.4M	CN¥779.7M
Total shareholders' equity	CN¥6.40B	CN¥7.11B	CN¥7.91B	CN¥6.22B	CN¥6.46B	CN¥6.73B	CN¥7.07B	−CN¥4.38B	−CN¥3.67B	−CN¥3.05B
Key figures
Total debt	CN¥615.8M	CN¥339.6M	CN¥379.7M	CN¥297.1M	CN¥205.4M	CN¥164.4M	CN¥143.0M	CN¥112.2M	CN¥42.4M	CN¥53.4M
Net cash (debt)	CN¥4.76B	CN¥5.85B	CN¥6.75B	CN¥5.13B	CN¥5.62B	CN¥5.97B	CN¥6.43B	CN¥3.35B	CN¥4.14B	CN¥4.48B
Working capital	CN¥5.39B	CN¥6.32B	CN¥7.21B	CN¥5.73B	CN¥6.03B	CN¥6.36B	CN¥6.75B	−CN¥4.66B	CN¥4.63B	−CN¥3.22B
Tangible book value	CN¥6.33B	CN¥7.05B	CN¥7.84B	CN¥6.15B	CN¥6.40B	CN¥6.67B	CN¥7.00B	−CN¥4.45B	−CN¥3.74B	−CN¥3.12B
Shares outstanding	341.4M	341.4M	325.2M	284.5M	284.5M	279.0M	275.4M	274.5M	268.0M	268.0M
Current ratio	5.36	7.63	8.20	8.39	11.04	13.60	13.43	0.48	13.64	0.63
Quick ratio	4.74	6.97	7.61	7.99	10.55	13.09	12.92	0.45	12.74	0.59
Debt / equity	0.10	0.05	0.05	0.05	0.03	0.02	0.02	—	—	—
Equity / assets	82.5%	87.6%	88.4%	88.5%	90.5%	92.1%	91.8%	−94.4%	−70.0%	−54.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 23, 2026); data from EODHD.

WRD financial position

At the end of fiscal 2025 (December 31, 2025), WeRide Inc. had total assets of CN¥8.9 billion (up 16.2% from a year earlier), total liabilities of CN¥1.0 billion and shareholders' equity of CN¥7.9 billion. It held CN¥7.1 billion in cash and short-term investments against CN¥379.7 million of debt, a net cash position of CN¥6.7 billion. Its current ratio was 8.20. In the latest quarter (ended June 30, 2026) total assets were CN¥7.8 billion and equity CN¥6.4 billion.

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

WRD balance sheet FAQ

What are WeRide Inc.'s total assets?

WeRide Inc. reported total assets of CN¥8.9 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥7.7 billion a year earlier.

How much debt does WeRide Inc. have?

WeRide Inc. had CN¥379.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.05.

How much cash does WeRide Inc. have?

WeRide Inc. held CN¥7.1 billion in cash and short-term investments at the end of fiscal 2025; with CN¥379.7 million of debt that is net cash of CN¥6.7 billion.

What is WeRide Inc.'s book value?

WeRide Inc.'s shareholders' equity (book value) was CN¥7.9 billion at the end of fiscal 2025.

What is WeRide Inc.'s current ratio?

WeRide Inc. had current assets of CN¥8.2 billion and current liabilities of CN¥1.0 billion, a current ratio of 8.20 (it can cover its short-term obligations).

How much goodwill does WeRide Inc. have?

WeRide Inc. carried CN¥62.8 million of goodwill and intangible assets, 0.7% of total assets, at the end of fiscal 2025.