Zhengye Biotechnology Holding Limited (ZYBT) Balance Sheet

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

ZYBT balance sheet, 2025

December 31, 2025 · Chinese yuan

CN¥436.5M assets = CN¥129.8M liabilities + CN¥306.7M equity

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

ZYBT financial health

Current ratio1.14

Adequate · current assets cover current liabilities 1.14×

Debt / equity0.30

Low leverage · CN¥0.30 of debt for each $1 of equity

Equity / assets57.2%

Equity-funded · of assets funded by shareholders

Cash / debt69.1%

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

Goodwill & intangibles12.5%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

ZYBT balance sheet trends, 2021–2025

Zhengye Biotechnology Holding Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥445.3M2021	CN¥436.5M2025	−0.5%/yr
Total liabilities	CN¥126.4M2021	CN¥129.8M2025	+0.6%/yr
Shareholders’ equity	CN¥267.5M2021	CN¥249.8M2025	−1.7%/yr
Cash & short-term investments	CN¥6.3M2021	CN¥51.9M2025	+69.5%/yr
Total debt	CN¥30.0M2021	CN¥75.1M2025	+25.8%/yr
Net cash (debt)	−CN¥23.7M2021	−CN¥23.2M2025	+CN¥525,000
Working capital	CN¥39.3M2021	CN¥16.9M2025	−CN¥22.4M
Current ratio	1.312021	1.142025	−0.17
Debt / equity	0.112021	0.302025	+0.19
Shares outstanding	47.2M2021	47.3M2025	+0.1%/yr

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

ZYBT assets

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

ZYBT liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ZYBT debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

ZYBT balance sheet in Chinese yuan

Zhengye Biotechnology Holding Limited annual balance sheet
	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	CN¥51.9M	CN¥20.0M	CN¥16.3M	CN¥9.7M	CN¥6.3M
Cash & equivalents	CN¥50.3M	CN¥18.6M	CN¥15.1M	CN¥9.7M	CN¥6.3M
Short-term investments	CN¥1.6M	CN¥1.4M	CN¥1.2M	CN¥0	—
Receivables	CN¥18.5M	CN¥59.6M	CN¥99.4M	CN¥134.2M	CN¥102.2M
Inventory	CN¥39.2M	CN¥58.2M	CN¥58.3M	CN¥55.4M	CN¥43.6M
Other current assets	CN¥27.9M	CN¥39.7M	CN¥31.6M	CN¥14.9M	CN¥12.9M
Total current assets	CN¥137.4M	CN¥177.6M	CN¥205.6M	CN¥214.3M	CN¥164.9M
Property, plant & equipment (net)	CN¥237.3M	CN¥255.2M	CN¥271.5M	CN¥283.7M	CN¥255.1M
Goodwill & intangible assets	CN¥54.8M	CN¥22.8M	CN¥16.3M	CN¥19.5M	CN¥12.0M
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥7.0M	CN¥37.7M	CN¥6.5M	CN¥2.2M	CN¥13.2M
Total assets	CN¥436.5M	CN¥493.2M	CN¥499.9M	CN¥519.7M	CN¥445.3M
Liabilities
Accounts payable	CN¥44.0M	CN¥43.0M	CN¥45.7M	CN¥79.3M	CN¥77.6M
Short-term debt	CN¥65.9M	—	CN¥79.9M	CN¥54.9M	CN¥30.0M
Deferred revenue	CN¥4.8M	—	CN¥4.0M	CN¥4.7M	CN¥4.3M
Total current liabilities	CN¥120.5M	CN¥135.9M	CN¥150.2M	CN¥152.2M	CN¥125.6M
Long-term debt	CN¥8.8M	CN¥4.8M	CN¥10.0M	CN¥10.0M	CN¥0
Lease obligations	CN¥433,000	CN¥0	—	—	—
Other long-term liabilities	CN¥431,000	CN¥0	CN¥393,000	CN¥590,000	CN¥816,000
Total liabilities	CN¥129.8M	CN¥140.7M	CN¥160.6M	CN¥162.8M	CN¥126.4M
Shareholders' equity
Common stock & paid-in capital	CN¥8,000	—	CN¥8,000	CN¥8,000	CN¥8,000
Retained earnings (deficit)	−CN¥21.6M	CN¥48.2M	CN¥38.4M	CN¥65.8M	CN¥42.3M
Accumulated other comprehensive income	CN¥30.7M	—	CN¥31.3M	CN¥27.6M	CN¥22.0M
Minority interest	CN¥56.9M	CN¥68.6M	CN¥66.4M	CN¥60.4M	—
Total shareholders' equity	CN¥249.8M	CN¥284.0M	CN¥272.9M	CN¥296.5M	CN¥267.5M
Key figures
Total debt	CN¥75.1M	CN¥4.8M	CN¥89.8M	CN¥64.9M	CN¥30.0M
Net cash (debt)	−CN¥23.2M	CN¥15.2M	−CN¥73.6M	−CN¥55.1M	−CN¥23.7M
Working capital	CN¥16.9M	CN¥41.7M	CN¥55.4M	CN¥62.1M	CN¥39.3M
Tangible book value	CN¥195.1M	CN¥261.2M	CN¥256.6M	CN¥277.0M	CN¥255.4M
Shares outstanding	47.3M	47.2M	47.2M	47.2M	47.2M
Current ratio	1.14	1.31	1.37	1.41	1.31
Quick ratio	0.58	0.59	0.77	0.95	0.86
Debt / equity	0.30	0.02	0.33	0.22	0.11
Equity / assets	57.2%	57.6%	54.6%	57.1%	60.1%

Zhengye Biotechnology Holding Limited quarterly balance sheet
	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Assets
Cash & short-term investments	CN¥51.9M	CN¥51.9M	CN¥51.9M	CN¥20.0M	CN¥47.6M	CN¥20.0M	CN¥8.5M	CN¥16.3M	CN¥23.5M	CN¥9.7M
Cash & equivalents	CN¥50.3M	CN¥50.3M	CN¥50.3M	CN¥18.6M	CN¥45.6M	CN¥18.6M	CN¥7.2M	CN¥15.1M	CN¥23.5M	CN¥9.7M
Short-term investments	CN¥1.6M	CN¥1.6M	CN¥1.6M	CN¥1.4M	CN¥2.0M	CN¥1.4M	CN¥1.3M	CN¥1.2M	—	—
Receivables	CN¥18.5M	CN¥18.5M	CN¥18.5M	CN¥88.5M	CN¥62.2M	CN¥59.6M	CN¥91.6M	CN¥99.4M	CN¥124.0M	CN¥134.2M
Inventory	CN¥39.2M	CN¥39.2M	CN¥39.2M	CN¥58.2M	CN¥53.5M	CN¥58.2M	CN¥65.2M	CN¥58.3M	CN¥54.0M	CN¥55.4M
Other current assets	CN¥27.9M	CN¥27.9M	CN¥27.9M	CN¥10.8M	CN¥38.1M	CN¥39.7M	CN¥24.4M	CN¥31.6M	CN¥15.4M	CN¥14.9M
Total current assets	CN¥137.4M	CN¥137.4M	CN¥137.4M	CN¥177.6M	CN¥201.4M	CN¥177.6M	CN¥189.7M	CN¥205.6M	CN¥216.9M	CN¥214.3M
Property, plant & equipment (net)	CN¥237.3M	CN¥237.3M	CN¥237.3M	CN¥255.2M	CN¥246.7M	CN¥255.2M	CN¥254.3M	CN¥271.5M	CN¥274.9M	CN¥283.7M
Goodwill & intangible assets	CN¥54.8M	CN¥54.8M	CN¥54.8M	CN¥22.8M	CN¥23.2M	CN¥22.8M	CN¥24.6M	CN¥16.3M	CN¥17.8M	CN¥19.5M
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥7.0M	CN¥7.0M	CN¥7.0M	CN¥37.7M	CN¥33.3M	CN¥37.7M	CN¥18.9M	CN¥6.5M	CN¥4.2M	CN¥2.2M
Total assets	CN¥436.5M	CN¥436.5M	CN¥436.5M	CN¥493.2M	CN¥504.6M	CN¥493.2M	CN¥487.6M	CN¥499.9M	CN¥513.8M	CN¥519.7M
Liabilities
Accounts payable	CN¥44.0M	CN¥44.0M	CN¥44.0M	CN¥43.0M	CN¥42.8M	CN¥43.0M	CN¥41.6M	CN¥45.7M	CN¥49.0M	CN¥79.3M
Short-term debt	CN¥65.9M	—	CN¥65.9M	CN¥81.6M	CN¥81.1M	—	CN¥87.4M	CN¥79.9M	CN¥79.9M	CN¥54.9M
Deferred revenue	CN¥4.8M	—	CN¥6.0M	CN¥3.7M	—	—	CN¥3.2M	CN¥4.0M	CN¥4.6M	CN¥4.7M
Total current liabilities	CN¥120.5M	CN¥120.5M	CN¥120.5M	CN¥135.9M	CN¥134.8M	CN¥135.9M	CN¥137.4M	CN¥150.2M	CN¥177.4M	CN¥152.2M
Long-term debt	CN¥0	CN¥8.8M	CN¥0	CN¥4.7M	CN¥0	CN¥4.8M	CN¥0	CN¥10.0M	CN¥10.0M	CN¥0
Lease obligations	—	CN¥433,000	—	—	—	CN¥0	—	—	—	—
Other long-term liabilities	CN¥9.3M	CN¥431,000	CN¥9.3M	CN¥100,000	CN¥4.7M	CN¥0	CN¥393,000	CN¥393,000	CN¥590,000	CN¥10.6M
Total liabilities	CN¥129.8M	CN¥129.8M	CN¥129.8M	CN¥140.7M	CN¥139.5M	CN¥140.7M	CN¥137.8M	CN¥160.6M	CN¥188.0M	CN¥162.8M
Shareholders' equity
Common stock & paid-in capital	CN¥8,000	—	CN¥8,000	CN¥8,000	CN¥8,000	—	CN¥8,000	CN¥8,000	CN¥8,000	CN¥8,000
Retained earnings (deficit)	−CN¥21.6M	−CN¥21.6M	CN¥11.0M	CN¥48.2M	CN¥59.1M	CN¥48.2M	CN¥47.2M	CN¥38.4M	CN¥30.9M	CN¥65.8M
Accumulated other comprehensive income	CN¥30.7M	—	−CN¥1.9M	CN¥32.6M	−CN¥966,000	—	CN¥31.3M	CN¥31.3M	CN¥27.6M	CN¥27.6M
Minority interest	—	CN¥56.9M	—	CN¥66.2M	—	CN¥68.6M	—	—	—	—
Total shareholders' equity	CN¥249.8M	CN¥249.8M	CN¥249.8M	CN¥284.0M	CN¥298.9M	CN¥284.0M	CN¥281.7M	CN¥272.9M	CN¥261.6M	CN¥296.5M
Key figures
Total debt	CN¥75.1M	CN¥8.8M	CN¥75.1M	CN¥86.4M	CN¥85.8M	CN¥4.8M	CN¥87.4M	CN¥89.8M	CN¥89.8M	CN¥64.9M
Net cash (debt)	−CN¥23.2M	CN¥43.0M	−CN¥23.2M	−CN¥66.4M	−CN¥38.1M	CN¥15.2M	−CN¥78.9M	−CN¥73.6M	−CN¥66.3M	−CN¥55.1M
Working capital	CN¥16.9M	CN¥16.9M	CN¥16.9M	CN¥41.7M	CN¥66.6M	CN¥41.7M	CN¥52.3M	CN¥55.4M	CN¥39.5M	CN¥62.1M
Tangible book value	CN¥195.1M	CN¥195.1M	CN¥195.1M	CN¥261.2M	CN¥275.8M	CN¥261.2M	CN¥257.0M	CN¥256.6M	CN¥243.8M	CN¥277.0M
Shares outstanding	47.4M	47.4M	47.4M	47.4M	47.3M	47.2M	47.2M	47.2M	—	—
Current ratio	1.14	1.14	1.14	1.31	1.49	1.31	1.38	1.37	1.22	1.41
Quick ratio	0.58	0.58	0.58	0.80	0.81	0.59	0.73	0.77	0.83	0.95
Debt / equity	0.30	0.04	0.30	0.30	0.29	0.02	0.31	0.33	0.34	0.22
Equity / assets	57.2%	57.2%	57.2%	57.6%	59.2%	57.6%	57.8%	54.6%	50.9%	57.1%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 28, 2026); data from EODHD.

ZYBT financial position

At the end of fiscal 2025 (December 31, 2025), Zhengye Biotechnology had total assets of CN¥436.5 million (down 11.5% from a year earlier), total liabilities of CN¥129.8 million and shareholders' equity of CN¥249.8 million. It held CN¥51.9 million in cash and short-term investments against CN¥75.1 million of debt, net debt of CN¥23.2 million. Its current ratio was 1.14. In the latest quarter (ended March 31, 2026) total assets were CN¥436.5 million and equity CN¥249.8 million.

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

ZYBT balance sheet FAQ

What are Zhengye Biotechnology's total assets?

Zhengye Biotechnology reported total assets of CN¥436.5 million at the end of fiscal 2025 (December 31, 2025), compared with CN¥493.2 million a year earlier.

How much debt does Zhengye Biotechnology have?

Zhengye Biotechnology had CN¥75.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.30.

How much cash does Zhengye Biotechnology have?

Zhengye Biotechnology held CN¥51.9 million in cash and short-term investments at the end of fiscal 2025; with CN¥75.1 million of debt that is net debt of CN¥23.2 million.

What is Zhengye Biotechnology's book value?

Zhengye Biotechnology's shareholders' equity (book value) was CN¥249.8 million at the end of fiscal 2025.

What is Zhengye Biotechnology's current ratio?

Zhengye Biotechnology had current assets of CN¥137.4 million and current liabilities of CN¥120.5 million, a current ratio of 1.14 (it can cover its short-term obligations).

How much goodwill does Zhengye Biotechnology have?

Zhengye Biotechnology carried CN¥54.8 million of goodwill and intangible assets, 12.5% of total assets, at the end of fiscal 2025.