Yuanbao Inc. (YB) Balance Sheet

NASDAQ: YBAssets, liabilities, debt and equity over 5 years.

YB balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥4.66B assets = CN¥1.31B liabilities + CN¥3.35B equity

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

YB financial health

Current ratio3.91

Comfortable · current assets cover current liabilities 3.91×

Debt / equity0.00

Low leverage · CN¥0.00 of debt for each $1 of equity

Equity / assets71.9%

Equity-funded · of assets funded by shareholders

Cash / debt50,023.1%

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

Goodwill & intangibles1.4%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

YB balance sheet trends, 2021–2025

Yuanbao Inc. American Depositary Shares balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥790.3M2021	CN¥4.66B2025	+55.8%/yr
Total liabilities	CN¥2.28B2021	CN¥1.31B2025	−13.0%/yr
Shareholders’ equity	−CN¥1.49B2021	CN¥3.35B2025	—
Cash & short-term investments	CN¥577.3M2021	CN¥3.96B2025	+61.9%/yr
Total debt	CN¥3.4M2021	CN¥7.9M2025	+23.3%/yr
Net cash (debt)	CN¥573.9M2021	CN¥3.96B2025	+CN¥3.4B
Working capital	CN¥449.2M2021	CN¥3.32B2025	+CN¥2.9B
Current ratio	2.682021	3.912025	+1.24
Shares outstanding	7.5M2021	47.7M2025	+58.7%/yr

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

YB assets

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

YB liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

YB debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

YB balance sheet in Chinese yuan

Yuanbao Inc. American Depositary Shares annual balance sheet
	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	CN¥3.96B	CN¥2.32B	CN¥1.12B	CN¥641.4M	CN¥577.3M
Cash & equivalents	CN¥860.5M	CN¥1.90B	CN¥863.1M	CN¥373.6M	CN¥528.9M
Short-term investments	CN¥3.10B	CN¥416.2M	CN¥261.8M	CN¥267.8M	CN¥48.5M
Receivables	CN¥442.3M	CN¥260.5M	CN¥254.3M	CN¥222.8M	CN¥56.0M
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other current assets	CN¥52.4M	CN¥91.4M	CN¥31.0M	CN¥126.4M	CN¥83.6M
Total current assets	CN¥4.46B	CN¥2.67B	CN¥1.41B	CN¥990.6M	CN¥716.9M
Property, plant & equipment (net)	CN¥22.4M	CN¥24.2M	CN¥34.7M	CN¥23.0M	CN¥6.8M
Goodwill & intangible assets	CN¥64.6M	CN¥58.0M	CN¥58.2M	CN¥58.1M	CN¥57.9M
Long-term investments	CN¥52.5M	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥58.1M	CN¥24.5M	CN¥17.5M	CN¥5.3M	CN¥8.7M
Total assets	CN¥4.66B	CN¥2.78B	CN¥1.52B	CN¥1.08B	CN¥790.3M
Liabilities
Accounts payable	CN¥17.4M	CN¥10.7M	CN¥17.1M	CN¥9.7M	CN¥4.7M
Short-term debt	CN¥7.1M	CN¥13.4M	CN¥12.4M	CN¥10.0M	CN¥2.6M
Deferred revenue	CN¥63.5M	CN¥117.6M	CN¥67.5M	CN¥46.4M	CN¥117.0M
Total current liabilities	CN¥1.14B	CN¥940.8M	CN¥634.2M	CN¥472.5M	CN¥267.8M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥7.9M	CN¥19.2M	CN¥31.0M	CN¥24.2M	CN¥3.4M
Other long-term liabilities	CN¥170.5M	CN¥3.47B	CN¥3.02B	CN¥2.48B	CN¥2.02B
Total liabilities	CN¥1.31B	CN¥4.41B	CN¥3.66B	CN¥2.96B	CN¥2.28B
Shareholders' equity
Common stock & paid-in capital	CN¥190,000	CN¥71,000	CN¥54,000	CN¥32,000	CN¥16,000
Retained earnings (deficit)	−CN¥72.9M	−CN¥1.93B	−CN¥2.29B	−CN¥1.95B	−CN¥1.52B
Accumulated other comprehensive income	CN¥239.4M	CN¥99.6M	CN¥15.3M	CN¥11.8M	−CN¥5.8M
Total shareholders' equity	CN¥3.35B	−CN¥1.63B	−CN¥2.14B	−CN¥1.88B	−CN¥1.49B
Key figures
Total debt	CN¥7.9M	CN¥19.2M	CN¥31.0M	CN¥24.2M	CN¥3.4M
Net cash (debt)	CN¥3.96B	CN¥2.30B	CN¥1.09B	CN¥617.2M	CN¥573.9M
Working capital	CN¥3.32B	CN¥1.73B	CN¥776.1M	CN¥518.1M	CN¥449.2M
Tangible book value	CN¥3.28B	−CN¥1.69B	−CN¥2.20B	−CN¥1.94B	−CN¥1.55B
Shares outstanding	47.7M	7.5M	7.5M	7.5M	7.5M
Current ratio	3.91	2.84	2.22	2.10	2.68
Quick ratio	3.87	2.74	2.17	1.83	2.37
Debt / equity	0.00	—	—	—	—
Equity / assets	71.9%	−58.8%	−140.6%	−174.6%	−189.0%

Yuanbao 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	Sep '23
Assets
Cash & short-term investments	CN¥5.16B	CN¥4.67B	CN¥3.96B	CN¥3.68B	CN¥3.40B	CN¥2.75B	CN¥2.32B	CN¥2.04B	CN¥1.70B	CN¥1.12B	CN¥964.3M
Cash & equivalents	CN¥1.17B	CN¥1.10B	CN¥860.5M	CN¥477.6M	CN¥1.32B	CN¥2.24B	CN¥1.90B	CN¥1.78B	CN¥1.32B	CN¥863.1M	CN¥695.6M
Short-term investments	CN¥3.99B	CN¥3.57B	CN¥3.10B	CN¥3.21B	CN¥2.08B	CN¥515.7M	CN¥416.2M	CN¥261.9M	CN¥386.6M	CN¥261.8M	CN¥268.7M
Receivables	CN¥616.1M	CN¥517.2M	CN¥441.4M	CN¥372.8M	CN¥353.6M	CN¥332.6M	CN¥260.5M	CN¥239.6M	CN¥332.3M	CN¥254.3M	CN¥285.5M
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other current assets	CN¥1	CN¥54.5M	CN¥53.3M	CN¥41.5M	CN¥41.5M	CN¥60.0M	CN¥91.4M	CN¥37.4M	CN¥33.1M	CN¥31.0M	CN¥28.8M
Total current assets	CN¥5.78B	CN¥5.24B	CN¥4.46B	CN¥4.10B	CN¥3.80B	CN¥3.14B	CN¥2.67B	CN¥2.32B	CN¥2.07B	CN¥1.41B	CN¥1.28B
Property, plant & equipment (net)	CN¥13.6M	CN¥17.9M	CN¥22.4M	CN¥18.2M	CN¥22.1M	CN¥21.3M	CN¥24.2M	CN¥27.6M	CN¥28.4M	CN¥34.7M	CN¥39.4M
Goodwill & intangible assets	CN¥94.3M	CN¥159.3M	CN¥64.6M	CN¥65.0M	CN¥58.0M	CN¥58.0M	CN¥58.0M	CN¥58.1M	CN¥58.1M	CN¥58.2M	CN¥58.3M
Long-term investments	CN¥0	CN¥52.8M	CN¥52.5M	CN¥52.2M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥100.3M	CN¥0	CN¥58.1M	CN¥30.3M	CN¥26.1M	CN¥24.7M	CN¥24.5M	CN¥21.7M	CN¥17.6M	CN¥17.5M	CN¥0
Total assets	CN¥5.99B	CN¥5.46B	CN¥4.66B	CN¥4.26B	CN¥3.91B	CN¥3.25B	CN¥2.78B	CN¥2.43B	CN¥2.17B	CN¥1.52B	CN¥1.38B
Liabilities
Accounts payable	CN¥74.3M	CN¥27.0M	CN¥17.4M	CN¥14.8M	CN¥18.7M	CN¥20.7M	CN¥10.7M	CN¥16.5M	CN¥12.2M	CN¥17.1M	CN¥13.8M
Short-term debt	CN¥1.6M	CN¥3.8M	—	CN¥10.3M	CN¥13.6M	CN¥13.5M	CN¥13.4M	CN¥13.4M	CN¥12.2M	CN¥12.4M	CN¥13.0M
Deferred revenue	CN¥62.8M	CN¥83.3M	—	CN¥97.2M	CN¥93.3M	CN¥95.4M	CN¥117.6M	CN¥122.0M	CN¥113.4M	CN¥67.5M	CN¥93.0M
Total current liabilities	CN¥1.6M	CN¥1.50B	CN¥1.14B	CN¥1.20B	CN¥1.24B	CN¥1.10B	CN¥940.8M	CN¥914.4M	CN¥930.6M	CN¥634.2M	CN¥552.9M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥1.6M	CN¥4.3M	CN¥7.9M	CN¥11.6M	CN¥15.1M	CN¥15.8M	CN¥19.2M	CN¥22.5M	CN¥23.7M	CN¥31.0M	CN¥35.8M
Other long-term liabilities	CN¥2.20B	CN¥206.4M	CN¥170.5M	CN¥63.4M	CN¥60.2M	CN¥3.45B	CN¥3.47B	CN¥3.37B	CN¥3.17B	CN¥3.02B	CN¥2.84B
Total liabilities	CN¥2.20B	CN¥1.71B	CN¥1.31B	CN¥1.27B	CN¥1.30B	CN¥4.55B	CN¥4.41B	CN¥4.28B	CN¥4.10B	CN¥3.66B	CN¥3.40B
Shareholders' equity
Common stock & paid-in capital	CN¥191,062	CN¥190,000	—	CN¥189,000	CN¥189,000	CN¥71,000	CN¥71,000	CN¥71,000	CN¥71,000	CN¥54,000	CN¥54,000
Retained earnings (deficit)	CN¥338.3M	CN¥314.8M	−CN¥72.9M	−CN¥180.2M	−CN¥631.5M	−CN¥1.62B	−CN¥1.93B	−CN¥2.05B	−CN¥2.11B	−CN¥2.29B	−CN¥2.16B
Accumulated other comprehensive income	CN¥225.6M	CN¥233.4M	—	CN¥13.5M	CN¥97.5M	CN¥99.3M	CN¥99.6M	CN¥13.0M	CN¥16.7M	CN¥15.3M	CN¥20.1M
Total shareholders' equity	CN¥3.78B	CN¥3.75B	CN¥3.35B	CN¥3.00B	CN¥2.61B	−CN¥1.30B	−CN¥1.63B	−CN¥1.86B	−CN¥1.93B	−CN¥2.14B	−CN¥2.02B
Key figures
Total debt	CN¥1.6M	CN¥4.3M	—	CN¥11.6M	CN¥15.1M	CN¥15.8M	CN¥19.2M	CN¥22.5M	CN¥23.7M	CN¥31.0M	CN¥35.8M
Net cash (debt)	CN¥5.16B	CN¥4.66B	—	CN¥3.67B	CN¥3.39B	CN¥2.74B	CN¥2.30B	CN¥2.02B	CN¥1.68B	CN¥1.09B	CN¥928.5M
Working capital	CN¥5.78B	CN¥3.74B	CN¥3.32B	CN¥2.89B	CN¥2.56B	CN¥2.05B	CN¥1.73B	CN¥1.40B	CN¥1.14B	CN¥776.1M	CN¥725.7M
Tangible book value	CN¥3.69B	CN¥3.59B	CN¥3.28B	CN¥2.93B	CN¥2.55B	−CN¥1.36B	−CN¥1.69B	−CN¥1.91B	−CN¥1.99B	−CN¥2.20B	−CN¥2.08B
Shares outstanding	48.2M	48.3M	276.5M	8.1M	7.8M	7.5M	7.5M	7.5M	7.5M	7.5M	7.5M
Current ratio	3,574.30	3.48	3.91	3.40	3.07	2.86	2.84	2.54	2.22	2.22	2.31
Quick ratio	3,574.30	3.45	3.87	3.37	3.04	2.81	2.74	2.49	2.19	2.17	2.26
Debt / equity	0.00	0.00	—	0.00	0.01	—	—	—	—	—	—
Equity / assets	63.2%	68.7%	71.9%	70.3%	66.8%	−40.0%	−58.8%	−76.5%	−88.9%	−140.6%	−146.9%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 30, 2026); data from EODHD.

YB financial position

At the end of fiscal 2025 (December 31, 2025), Yuanbao Inc. had total assets of CN¥4.7 billion (up 67.5% from a year earlier), total liabilities of CN¥1.3 billion and shareholders' equity of CN¥3.3 billion. It held CN¥4.0 billion in cash and short-term investments against CN¥7.9 million of debt, a net cash position of CN¥4.0 billion. Its current ratio was 3.91. In the latest quarter (ended June 30, 2026) total assets were CN¥6.0 billion and equity CN¥3.8 billion.

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

YB balance sheet FAQ

What are Yuanbao Inc.'s total assets?

Yuanbao Inc. reported total assets of CN¥4.7 billion at the end of fiscal 2025 (December 31, 2025), compared with CN¥2.8 billion a year earlier.

How much debt does Yuanbao Inc. have?

Yuanbao Inc. had CN¥7.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.

How much cash does Yuanbao Inc. have?

Yuanbao Inc. held CN¥4.0 billion in cash and short-term investments at the end of fiscal 2025; with CN¥7.9 million of debt that is net cash of CN¥4.0 billion.

What is Yuanbao Inc.'s book value?

Yuanbao Inc.'s shareholders' equity (book value) was CN¥3.3 billion at the end of fiscal 2025.

What is Yuanbao Inc.'s current ratio?

Yuanbao Inc. had current assets of CN¥4.5 billion and current liabilities of CN¥1.1 billion, a current ratio of 3.91 (it can cover its short-term obligations).

How much goodwill does Yuanbao Inc. have?

Yuanbao Inc. carried CN¥64.6 million of goodwill and intangible assets, 1.4% of total assets, at the end of fiscal 2025.