NetEase, Inc. (HKEX shares) (NETEASE) balance sheet

HKSE · Technology · Electronic Gaming & Multimedia · 25,382 employees · CEO Lei Ding

Price: HK$177.50 +0.45%
Market cap: HK$568B
Enterprise value: CN¥466B
Last report: Q2 '26 filed 2026-06-30
Next report: 2026-11-12

At the end of Q2 '26 NetEase, Inc. (HKEX shares) (NETEASE) held CN¥180B in cash and short-term investments against CN¥12.6B of debt incl. leases. Total assets CN¥232B, total liabilities CN¥60.6B, shareholders' equity CN¥167B.

Balance sheet

Balance sheet	Q3 '23	Q4 '23	Q1 '24	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26
Assets
Cash & equivalents	CN¥15.1B	CN¥21.4B	CN¥43B	CN¥19B	CN¥20.2B	CN¥51.4B	CN¥41.7B	CN¥54.4B	CN¥31.3B	CN¥51.5B	CN¥50.8B	CN¥27.3B
Short-term investments	CN¥95.7B	CN¥105B	CN¥91.6B	CN¥104B	CN¥104B	CN¥86.2B	CN¥98.4B	CN¥92.3B	CN¥118B	CN¥115B	CN¥120B	CN¥153B
Receivables	CN¥6.49B	CN¥6.42B	CN¥7.77B	CN¥6.36B	CN¥6.17B	CN¥5.67B	CN¥6.74B	CN¥5.78B	CN¥5.96B	CN¥5.34B	CN¥6.49B	CN¥5.75B
Inventory	CN¥722M	CN¥695M	CN¥604M	CN¥574M	CN¥614M	CN¥572M	CN¥518M	CN¥592M	CN¥637M	CN¥689M	CN¥546M	CN¥512M
Other current assets	CN¥9.52B	CN¥5.9B	CN¥8.82B	CN¥8.36B	CN¥9.81B	CN¥3.23B	CN¥10.3B	CN¥9.89B	CN¥15.5B	CN¥7.66B	CN¥10.7B	CN¥5.96B
Current assets	CN¥128B	CN¥143B	CN¥152B	CN¥138B	CN¥141B	CN¥153B	CN¥158B	CN¥163B	CN¥171B	CN¥181B	CN¥189B	CN¥192B
Property, plant & equipment (net)	CN¥7.58B	CN¥8.82B	CN¥8.06B	CN¥8.09B	CN¥8.2B	CN¥9.06B	CN¥8.45B	CN¥8.45B	CN¥8.52B	CN¥8.43B	CN¥8.31B	CN¥8.18B
Long-term investments	CN¥2.22B	CN¥22.8B	CN¥1.05B	CN¥3.94B	CN¥4.03B	CN¥23.2B	CN¥3.03B	CN¥2.94B	CN¥2.85B	CN¥3B	CN¥3.05B	CN¥21.6B
Goodwill	CN¥0	CN¥1.86B	CN¥0	CN¥0	CN¥0	CN¥1.86B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Intangible assets	CN¥4.11B	CN¥5.96B	CN¥4.05B	CN¥4.02B	CN¥4.2B	CN¥5.59B	CN¥4.14B	CN¥4.11B	CN¥4.08B	CN¥0	CN¥4.01B	CN¥0
Deferred tax assets	CN¥1.42B	CN¥1.56B	CN¥1.48B	CN¥1.5B	CN¥1.17B	CN¥1.11B	CN¥1.28B	CN¥2.19B	CN¥2.61B	CN¥2.83B	CN¥2.89B	CN¥2.7B
Other non-current assets	CN¥28.7B	CN¥2.2B	CN¥28.6B	CN¥27.6B	CN¥26.7B	CN¥1.82B	CN¥26.3B	CN¥27.9B	CN¥25.2B	CN¥26.6B	CN¥24.5B	CN¥7.67B
Non-current assets	CN¥44B	CN¥43.2B	CN¥43.3B	CN¥45.2B	CN¥44.3B	CN¥42.7B	CN¥43.2B	CN¥45.5B	CN¥43.3B	CN¥40.8B	CN¥42.7B	CN¥40.1B
Total assets	CN¥172B	CN¥186B	CN¥195B	CN¥183B	CN¥185B	CN¥196B	CN¥201B	CN¥208B	CN¥214B	CN¥222B	CN¥231B	CN¥232B
Liabilities
Accounts payable	CN¥863M	CN¥881M	CN¥871M	CN¥792M	CN¥755M	CN¥721M	CN¥565M	CN¥695M	CN¥718M	CN¥643M	CN¥781M	CN¥702M
Accrued expenses	CN¥11.7B	CN¥8.02B	CN¥12.9B	CN¥16B	CN¥13.3B	CN¥19.1B	CN¥13.8B	CN¥14.2B	CN¥15.2B	CN¥4.89B	CN¥15.5B	CN¥3.76B
Short-term debt	CN¥11.2B	CN¥19.2B	CN¥24.8B	CN¥13.2B	CN¥10.6B	CN¥11.8B	CN¥9.82B	CN¥11.3B	CN¥7.35B	CN¥6.39B	CN¥11B	CN¥12.6B
Taxes payable	CN¥3.07B	CN¥2.57B	CN¥3.84B	CN¥2.38B	CN¥2.61B	CN¥2.76B	CN¥4.56B	CN¥3.8B	CN¥4.31B	CN¥0	CN¥5.77B	CN¥0
Deferred revenue	CN¥14.2B	CN¥17B	CN¥14.9B	CN¥13.6B	CN¥15.5B	CN¥19.6B	CN¥17.7B	CN¥17B	CN¥19.5B	CN¥20.5B	CN¥21.8B	CN¥19.3B
Other current liabilities	CN¥0	CN¥0	CN¥0	CN¥2.38B	CN¥0	-CN¥1.76B	CN¥0	CN¥0	CN¥0	CN¥16.1B	CN¥0	CN¥15.5B
Current liabilities	CN¥43.9B	CN¥53.8B	CN¥60B	CN¥45.9B	CN¥45.7B	CN¥49.7B	CN¥49.1B	CN¥50.5B	CN¥50.1B	CN¥52.4B	CN¥57.4B	CN¥55.6B
Long-term debt	CN¥428M	CN¥428M	CN¥428M	CN¥428M	CN¥428M	CN¥428M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations (non-current)	CN¥0	CN¥556M	CN¥0	CN¥0	CN¥0	CN¥413M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Deferred tax liabilities	CN¥2.01B	CN¥2.3B	CN¥2.7B	CN¥1.45B	CN¥1.83B	CN¥2.17B	CN¥2.67B	CN¥2.72B	CN¥2.21B	CN¥2.64B	CN¥3.23B	CN¥3.73B
Other non-current liabilities	CN¥1.33B	CN¥715M	CN¥1.25B	CN¥1.19B	CN¥1.2B	CN¥816M	CN¥1.18B	CN¥1.22B	CN¥1.26B	CN¥1.31B	CN¥1.38B	CN¥1.3B
Non-current liabilities	CN¥3.76B	CN¥4B	CN¥4.38B	CN¥3.07B	CN¥3.46B	CN¥3.83B	CN¥3.85B	CN¥3.94B	CN¥3.47B	CN¥3.94B	CN¥4.61B	CN¥5.03B
Total liabilities	CN¥47.6B	CN¥57.8B	CN¥64.4B	CN¥49B	CN¥49.2B	CN¥53.5B	CN¥53B	CN¥54.4B	CN¥53.6B	CN¥56.3B	CN¥62B	CN¥60.6B
Equity
Common stock & paid-in capital	CN¥120B	CN¥2.71M	CN¥127B	CN¥131B	CN¥132B	CN¥2.63M	CN¥144B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥2.63M
Retained earnings	CN¥0	CN¥112B	CN¥0	CN¥0	CN¥0	CN¥132B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥159B
Accumulated other comprehensive income	CN¥0	CN¥2.16B	CN¥0	CN¥0	CN¥0	CN¥1.01B	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥813M
Shareholders' equity	CN¥120B	CN¥124B	CN¥127B	CN¥131B	CN¥132B	CN¥139B	CN¥144B	CN¥150B	CN¥156B	CN¥160B	CN¥165B	CN¥167B
Debt
Total debt (incl. leases)	CN¥11.6B	CN¥20.5B	CN¥25.3B	CN¥13.6B	CN¥11B	CN¥12.8B	CN¥9.82B	CN¥11.3B	CN¥7.35B	CN¥6.39B	CN¥11B	CN¥12.6B
Net debt (debt - cash)	-CN¥3.47B	-CN¥945M	-CN¥17.8B	-CN¥5.37B	-CN¥9.16B	-CN¥38.6B	-CN¥31.9B	-CN¥43.2B	-CN¥24B	-CN¥45.1B	-CN¥39.9B	-CN¥14.7B

Balance sheet	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Assets
Cash & equivalents	CN¥5.44B	CN¥2.76B	CN¥4.98B	CN¥3.25B	CN¥9.12B	CN¥14.5B	CN¥24.9B	CN¥21.4B	CN¥51.4B	CN¥51.5B
Short-term investments	CN¥30.9B	CN¥40.3B	CN¥44.6B	CN¥68.8B	CN¥84.4B	CN¥83B	CN¥92.6B	CN¥105B	CN¥86.2B	CN¥115B
Receivables	CN¥4.57B	CN¥3.62B	CN¥4.53B	CN¥4.17B	CN¥6.63B	CN¥7.06B	CN¥5B	CN¥6.42B	CN¥5.67B	CN¥5.34B
Inventory	CN¥1.58B	CN¥5.47B	CN¥1.07B	CN¥651M	CN¥592M	CN¥965M	CN¥994M	CN¥695M	CN¥572M	CN¥689M
Other current assets	CN¥3.56B	CN¥7.18B	CN¥10.3B	CN¥4.56B	CN¥3.22B	CN¥3B	CN¥5.14B	CN¥5.9B	CN¥3.23B	CN¥7.66B
Current assets	CN¥49.4B	CN¥61.9B	CN¥68.7B	CN¥85.1B	CN¥108B	CN¥113B	CN¥132B	CN¥143B	CN¥153B	CN¥181B
Property, plant & equipment (net)	CN¥2.42B	CN¥3.77B	CN¥5.38B	CN¥4.62B	CN¥4.56B	CN¥5.43B	CN¥6.34B	CN¥8.82B	CN¥9.06B	CN¥8.43B
Long-term investments	CN¥2.52B	CN¥2.78B	CN¥5.35B	CN¥2.36B	CN¥6.63B	CN¥5.82B	CN¥2.97B	CN¥22.8B	CN¥23.2B	CN¥3B
Goodwill	CN¥0	CN¥0	CN¥0	CN¥0	CN¥319M	CN¥595M	CN¥2.17B	CN¥1.86B	CN¥1.86B	CN¥0
Intangible assets	CN¥589M	CN¥593M	CN¥3.5B	CN¥3.71B	CN¥8.3B	CN¥6.73B	CN¥6.24B	CN¥5.96B	CN¥5.59B	CN¥0
Deferred tax assets	CN¥24M	CN¥823M	CN¥1.06B	CN¥904M	CN¥1.09B	CN¥1.3B	CN¥1.48B	CN¥1.56B	CN¥1.11B	CN¥2.83B
Other non-current assets	CN¥3.1B	CN¥1.11B	CN¥2.96B	CN¥15.4B	CN¥13.1B	CN¥20.6B	CN¥22B	CN¥2.2B	CN¥1.82B	CN¥26.6B
Non-current assets	CN¥8.65B	CN¥9.08B	CN¥18.3B	CN¥27B	CN¥34B	CN¥40.5B	CN¥41.2B	CN¥43.2B	CN¥42.7B	CN¥40.8B
Total assets	CN¥58B	CN¥71B	CN¥87B	CN¥112B	CN¥142B	CN¥154B	CN¥173B	CN¥186B	CN¥196B	CN¥222B
Liabilities
Accounts payable	CN¥1.57B	CN¥2.44B	CN¥1.2B	CN¥1.21B	CN¥1.13B	CN¥985M	CN¥1.51B	CN¥881M	CN¥721M	CN¥643M
Accrued expenses	CN¥2.98B	CN¥4.78B	CN¥5.81B	CN¥6.06B	CN¥8.03B	CN¥9B	CN¥10.2B	CN¥8.02B	CN¥8.87B	CN¥4.89B
Short-term debt	CN¥3.82B	CN¥6.62B	CN¥13.7B	CN¥16.8B	CN¥19.5B	CN¥19.4B	CN¥23.9B	CN¥19.2B	CN¥11.8B	CN¥6.39B
Taxes payable	CN¥1.72B	CN¥1.56B	CN¥2.27B	CN¥3.16B	CN¥4.28B	CN¥4.54B	CN¥2.81B	CN¥2.57B	CN¥2.76B	CN¥0
Deferred revenue	CN¥8.85B	CN¥7.79B	CN¥9.09B	CN¥10.1B	CN¥12.3B	CN¥14.7B	CN¥15.8B	CN¥0	CN¥19.6B	CN¥20.5B
Other current liabilities	-CN¥1.52B	-CN¥1.94B	-CN¥66.9M	-CN¥2.61B	-CN¥2.73B	-CN¥3.24B	-CN¥3.04B	CN¥17B	CN¥0	CN¥16.1B
Current liabilities	CN¥19.2B	CN¥23.8B	CN¥35.1B	CN¥38.2B	CN¥46.7B	CN¥50.5B	CN¥56.8B	CN¥53.8B	CN¥49.7B	CN¥52.4B
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥1.28B	CN¥3.65B	CN¥428M	CN¥428M	CN¥0
Lease obligations (non-current)	CN¥0	CN¥0	CN¥0	CN¥280M	CN¥475M	CN¥732M	CN¥673M	CN¥556M	CN¥413M	CN¥0
Deferred revenue (non-current)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥145M	CN¥0	CN¥0	CN¥0	CN¥0
Deferred tax liabilities	CN¥392M	CN¥213M	CN¥394M	CN¥382M	CN¥713M	CN¥1.35B	CN¥2.13B	CN¥2.3B	CN¥2.17B	CN¥2.64B
Other non-current liabilities	CN¥200K	CN¥18.3M	CN¥53.7M	CN¥178M	CN¥149M	CN¥220M	CN¥605M	CN¥715M	CN¥816M	CN¥1.31B
Non-current liabilities	CN¥392M	CN¥231M	CN¥447M	CN¥840M	CN¥1.34B	CN¥3.72B	CN¥7.06B	CN¥4B	CN¥3.83B	CN¥3.94B
Total liabilities	CN¥19.6B	CN¥24B	CN¥35.6B	CN¥39.1B	CN¥48.1B	CN¥54.4B	CN¥63.9B	CN¥57.8B	CN¥53.5B	CN¥56.3B
Equity
Common stock & paid-in capital	CN¥2.68M	CN¥2.68M	CN¥2.62M	CN¥2.64M	CN¥2.79M	CN¥2.79M	CN¥2.71M	CN¥2.71M	CN¥2.63M	CN¥0
Retained earnings	CN¥35.3B	CN¥42.7B	CN¥44B	CN¥56.4B	CN¥64.2B	CN¥77.5B	CN¥91.1B	CN¥114B	CN¥132B	CN¥0
Accumulated other comprehensive income	CN¥61.5M	CN¥36.6M	CN¥1.23B	-CN¥71.4M	CN¥578M	CN¥417M	CN¥1.71B	CN¥2.16B	CN¥1.01B	CN¥0
Shareholders' equity	CN¥38.2B	CN¥45.7B	CN¥45.2B	CN¥61.5B	CN¥82.1B	CN¥95.3B	CN¥105B	CN¥124B	CN¥139B	CN¥160B
Debt
Total debt (incl. leases)	CN¥3.82B	CN¥6.62B	CN¥13.7B	CN¥17.3B	CN¥20.3B	CN¥21.7B	CN¥28.5B	CN¥20.5B	CN¥12.8B	CN¥6.39B
Net debt (debt - cash)	-CN¥1.62B	CN¥3.86B	CN¥8.68B	CN¥14.1B	CN¥11.2B	CN¥7.2B	CN¥3.57B	-CN¥945M	-CN¥38.6B	-CN¥45.1B

Standardised from the company's filings; outflows and costs keep the sign the provider reports. Hover a period for its end date. Amounts in CNY.

Cash, investments and debt

quarter ends

The other statements

Income statementRevenue, costs, operating income, net income and EPSOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Sources

Statements, segment revenue, metrics and estimates are standardised from the company's filings.

Data as of 2026-11-02 · Amounts in CNY as reported; price and market cap in HKD.