The9 LTD balance sheet

At the end of fiscal 2025, The9 LTD had total assets of $84.9m, total liabilities of $50.2m and shareholders' equity of $27.3m. It held $8.4m in cash against $31.8m of debt.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

The9 LTD: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	245	215	170	89	26	29	8	6	22	1	1	5	67	8	6	1	8
Receivables	—	2	2	3	3	2	1	1	0	0	0	0	1	0	0	—	—
Total current assets	—	237	186	107	36	41	12	13	28	5	22	6	165	57	25	33	49
Goodwill	—	2	2	2	2	2	2	0	0	0	—	—	—	—	—	—	—
Total assets	—	281	259	179	90	83	83	51	50	24	26	7	206	87	51	87	85
Accounts payable	—	7	7	9	11	6	6	5	6	6	5	5	6	1	1	1	—
Deferred revenue (current)	—	3	3	3	3	3	3	2	1	0	—	—	—	0	—	0	0
Total current liabilities	—	48	49	51	55	48	66	83	126	132	152	56	85	82	23	28	49
Short-term debt	—	—	—	—	—	—	—	15	17	16	17	—	—	—	0	12	25
Long-term debt	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2	—	—
Total debt	0	0	0	0	0	0	21	44	17	71	76	0	15	9	9	12	32
Total liabilities	—	49	60	58	59	52	93	116	126	132	153	56	86	83	26	29	50
Shareholders' equity	295	232	201	126	43	16	−30	−49	−73	−104	−121	−44	122	7	29	46	27
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	−6	−12	16	21	−17	−3	−5	−6	−5	—	−3	−4	12	7
Shares outstanding	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from The9 LTD's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to The9 LTD.