The9 Limited
NCTY Financial Capital Markets
The9 Limited’s revenue for fiscal 2025 (year ended December 2025) was $15.4 million, up 0.81% from fiscal 2024. In the quarter to June 2026, revenue fell 90.9% and EPS grew 107.3%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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A Balance Sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time. It follows the formula: Assets = Liabilities + Shareholders' Equity. Key components include current and non-current assets, current and long-term liabilities, and equity. The Balance Sheet helps businesses and investors evaluate financial stability, liquidity, and capital structure. It's essential for assessing the company's ability to meet its obligations and fund future operations.
| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
Cash and Short Term Investments |
44.43 | 28.06 | 8.88 | 8.42 | 67.35 | 4.86 | 1.45 | 0.62 | 21.92 | 5.60 |
Receivables |
1.44 | — | 0.01 | 1.04 | 0.58 | 0.00 | 0.02 | 0.09 | 0.40 | 1.24 |
Other current assets |
0.23 | 1.75 | 12.44 | 9.71 | 14.04 | 0.12 | 1.72 | 3.20 | 1.63 | 4.17 |
Total current assets |
48.97 | 33.39 | 31.38 | 57.66 | 164.85 | 6.49 | 22.19 | 4.80 | 28.14 | 12.68 |
Property, Plant, Equpment (Net) |
6.23 | 2.27 | 13.29 | 20.71 | 27.14 | 0.15 | 0.18 | 2.52 | 3.18 | 3.86 |
Long-Term Investments |
24.53 | 40.72 | 5.31 | 5.12 | 11.60 | — | 1.44 | 6.58 | 7.41 | 23.48 |
Long-term receivables |
1.05 | — | — | — | — | — | — | — | — | — |
Goodwill and Intangible Assets (Total) |
2.26 | 1.23 | — | — | — | — | — | 9.10 | 9.92 | 9.57 |
Long-term assets (Other) |
0.18 | 7.80 | 0.29 | 1.63 | 1.03 | — | 0.94 | 0.95 | 1.00 | 0.95 |
Total non-current assets |
35.94 | 53.84 | 19.85 | 29.21 | 40.77 | 0.94 | 3.88 | 19.15 | 21.52 | 37.86 |
Total Assets |
84.90 | 87.22 | 51.23 | 86.86 | 205.62 | 7.42 | 26.07 | 23.95 | 49.66 | 50.54 |
Notes Payable |
— | — | — | — | — | — | — | — | 40.05 | — |
Accounts Payable |
2.78 | 0.76 | 1.35 | 24.06 | 6.26 | 5.46 | 5.49 | 5.53 | 5.71 | 5.33 |
Accrued Expenses |
7.69 | 5.91 | 6.26 | 10.02 | 22.15 | 12.81 | 14.15 | 14.05 | 14.33 | 13.35 |
Current Part of Debt |
31.84 | 18.11 | 7.03 | 8.84 | 14.57 | 0.58 | 76.37 | 70.94 | 16.71 | 15.49 |
Current Part of Taxes to Pay |
0.21 | 0.20 | 0.21 | 0.24 | 0.24 | 0.20 | 0.17 | — | 0.26 | 0.04 |
Current Revenue (Deferred) |
0.23 | 0.08 | — | — | — | — | — | 0.02 | 0.86 | 2.29 |
Other current liabilities |
5.76 | 2.72 | 7.46 | 37.80 | 41.52 | 36.80 | 48.89 | 41.16 | 34.01 | 46.13 |
Total current liabilities |
49.10 | 28.17 | 22.94 | 81.80 | 85.41 | 55.84 | 151.98 | 132.12 | 125.95 | 82.64 |
Long Term Debt (Total) |
— | — | 2.36 | 1.07 | 0.40 | 0.38 | 0.90 | — | — | 33.48 |
Minority Interests |
10.40 | 14.06 | — | — | — | 53.49 | 50.14 | 49.61 | 47.03 | 35.54 |
Non-current Liabilities (Other) |
— | 0.26 | — | — | — | 0.00 | 0.00 | — | — | 0.00 |
Total non-current liabilities |
11.51 | 14.54 | 2.75 | 1.07 | 0.40 | 53.87 | 51.04 | 49.61 | 47.03 | 69.02 |
Total liabilities |
60.62 | 42.71 | 25.69 | 82.87 | 85.81 | 109.71 | 203.02 | 181.73 | 172.98 | 151.66 |
Additional Paid In Capital |
672.98 | 617.93 | 629.75 | 633.77 | 649.52 | 413.14 | 364.78 | 363.04 | 388.43 | 363.76 |
Common Stock (Net) |
46.03 | 36.03 | 13.57 | 8.35 | 7.25 | 2.77 | 1.14 | 0.95 | 0.51 | 0.28 |
Retained Earnings |
(691.06) | (606.94) | (613.64) | (634.80) | (534.08) | (458.58) | (489.94) | (470.23) | (463.55) | (417.37) |
Shareholders Equity (Other) |
1.05 | 1.00 | 1.03 | 1.06 | 1.15 | 1.12 | 4.03 | 4.08 | 4.31 | 4.04 |
Common Equity (Total) |
24.29 | 44.51 | 25.54 | 3.99 | 119.80 | (102.29) | (176.95) | (157.78) | (123.32) | (101.12) |
Shareholders Equity (Total) |
24.29 | 44.51 | 25.54 | 3.99 | 119.80 | (102.29) | (176.95) | (157.78) | (123.32) | (101.12) |
Shareholders Equity and Liabilities (Total) |
84.90 | 87.22 | 51.23 | 86.86 | 205.62 | 7.42 | 26.07 | 23.95 | 49.66 | 50.54 |
Shares (Common) |
15.23 | 12.46 | 4.68 | 2.87 | 2.30 | 0.87 | 1.13 | 0.30 | 0.15 | 0.08 |
Shareholders Equity (Tangible) |
22.03 | 43.28 | 25.54 | 3.99 | 119.80 | (102.29) | (176.95) | (166.88) | (133.23) | (110.68) |
Net Debt |
(12.59) | (9.96) | 0.51 | 1.49 | (52.38) | (3.90) | 75.81 | 70.32 | (5.21) | 43.36 |
Total Debt |
31.84 | 18.11 | 9.39 | 9.91 | 14.97 | 0.96 | 77.26 | 70.94 | 16.71 | 48.96 |