$DAO Balance Sheet | Understand Stock

$DAO

$19.00 -$0.10 (0.52%) Close

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated balance sheets

In millions of CNY, except per-share amounts

	Q4 FY2025 As of Dec 31, 2025	Q4 FY2024 As of Dec 31, 2024	Q4 FY2023 As of Dec 31, 2023	Q4 FY2022 As of Dec 31, 2022	Q4 FY2021 As of Dec 31, 2021	Q4 FY2020 As of Dec 31, 2020	Q4 FY2019 As of Dec 31, 2019
ASSETS
Current assets:
Cash and cash equivalents
Time deposits
Restricted cash
Short-term investments
Accounts receivable, net
Inventories
Amounts due from NetEase Group
NetEase Group
Total amounts due from NetEase Group

Prepayment and other current assets
Assets held for sale (Note 2(c))
Total current assets

Non-current assets:
Property and equipment, net
Property, equipment and software, net
Operating lease right-of-use assets, net
Long-term investments
Goodwill
Other assets, net
Assets held for sale (Note 2(c))
Total non-current assets

Total assets
LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities:
Accounts payables (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB45,358 and RMB45,085 as of December 31, 2024 and 2025, respectively)
Payroll payable (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB28,009 and RMB27,824 as of December 31, 2024 and 2025, respectively)
Amounts due to NetEase Group (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB23,984 and RMB7,538 as of December 31, 2021 and 2022, respectively)
NetEase Group
Total amounts due to NetEase Group (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB23,984 and RMB7,538 as of December 31, 2021 and 2022, respectively)
Amounts due to NetEase Group (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB3,959 and RMB3,352 as of December 31, 2024 and 2025, respectively)
Contract liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB856,003 and RMB748,455 as of December 31, 2024 and 2025, respectively)
Taxes payable (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB16,491 and RMB19,048 as of December 31, 2024 and 2025, respectively)
Accrued liabilities and other payables (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB210,531 and RMB331,137 as of December 31, 2024 and 2025, respectively)
Short-term loans from NetEase Group
NetEase Group
Total short-term loans from NetEase Group
Liabilities held for sale (Note 2(c))
Short-term loan from NetEase Group
Total current liabilities

Non-current liabilities:
Long-term lease liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB14,555 and RMB16,320 as of December 31, 2024 and 2025, respectively)
Other non-current liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiaries of RMB13,907 and RMB15,127 as of December 31, 2024 and 2025, respectively)
Long-term loans from NetEase Group
NetEase Group
Total long-term loans from NetEase Group

Total non-current liabilities
Total liabilities
Pre-IPO Series A convertible redeemable preferred shares (US$0.0001 par value; 10,000,000 shares authorized, 6,814,815 issued and outstanding with redemption value of RMB460,652 as of December 31, 2018; nil shares authorized, nil shares issued and outstanding as of December 31, 2019)/Total mezzanine equity
Redeemable noncontrolling interests
Shareholders' deficit:
Ordinary shares
Class A ordinary shares
Class B ordinary share
Additional paid-in capital
Treasury stock (Note 13)
Accumulated deficit
Accumulated other comprehensive income/(loss)
Accumulated other comprehensive loss
Statutory reserves
Noncontrolling interests
Class A ordinary shares
Class B ordinary share
Total shareholders' deficit

Total liabilities and shareholders' deficit

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