Niu Technologies balance sheet

At the end of fiscal 2025, Niu Technologies had total assets of $422m, total liabilities of $292m and shareholders' equity of $129m. It held $132m in cash against $56.4m of debt: net cash of $75.9m.

Balance sheet

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

Niu Technologies: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	29	43	109	72	35	33	77	123	86	132
Receivables	—	2	8	17	16	42	43	13	18	5
Inventory	—	14	21	26	22	42	60	55	89	93
Total current assets	—	63	163	188	237	298	292	248	297	337
Total assets	—	77	172	217	283	383	368	308	358	422
Accounts payable	—	19	36	37	61	85	67	81	119	101
Deferred revenue (current)	—	2	2	4	3	5	5	6	7	11
Total current liabilities	—	89	87	100	126	177	173	151	226	286
Short-term debt	—	26	26	31	28	28	23	—	27	34
Total debt	0	49	26	31	28	28	46	24	40	56
Total liabilities	—	91	89	103	131	185	178	154	230	292
Shareholders' equity	−31	−50	83	114	152	198	190	154	128	129
Non-controlling interests and other (assets − liabilities − equity)	—	37	—	—	—	—	—	—	—	—
Net debt (negative = net cash)	−29	6	−83	−41	−7	−4	−32	−99	−46	−76

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.

Compare with peers

Head to head: LOT vs NIU GGR vs NIU LCID vs NIU

More: Automobile Manufacturers stocks compared, Consumer Discretionary sector, rankings of US companies

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