Niu Technologies reported total assets of $415.98M and total liabilities of $288.39M for the quarter ended Dec 2025, up 16.7% year over year. This balance sheet covers 20 quarters of results from Dec 2017 through Dec 2025, standardized by Business Quant from the company’s SEC filings.
| Balance Sheet | Dec2017 | Sep2018 | Dec2018 | Mar2019 | Jun2019 | Sep2019 | Dec2019 | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Dec2022 | Dec2023 | Dec2024 | Dec2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||||||||||
| Current Assets | ||||||||||||||||||||
| Cash & EquivalentsCash & Equiv. | 16.93M | 12.99M | 82.30M | 73.04M | 42.41M | 39.15M | 39.72M | 47.91M | 53.52M | 23.29M | 34.25M | 27.90M | 45.18M | 45.62M | 32.59M | 17.79M | 75.12M | 121.19M | 87.71M | 130.38M |
| Short-term InvestmentsInvestments (Current) | 12.88M | 47.41M | 25.93M | 10.31M | 34.78M | 69.62M | 31.45M | 27.70M | 25.02M | 26.05M | 25.42M | 27.21M | 27.58M | 22.89M | 121.01M | 35.11M | 26.20M | 14.95M | 30.13M | 29.73M |
| Cash & Current Investments | 29.80M | 61.00M | 108.23M | 83.35M | 77.19M | 108.77M | 71.17M | 75.61M | 78.32M | 48.40M | 59.67M | 55.11M | 72.76M | 68.51M | 153.60M | 52.83M | 101.32M | 136.14M | 117.83M | 160.11M |
| Receivables - NetNet Receivables | 1.86M | 4.45M | 7.90M | 12.14M | 17.43M | 8.70M | 16.82M | 8.42M | 7.63M | 5.70M | 15.79M | 6.50M | 9.82M | 9.90M | 42.72M | 27.12M | 46.31M | 36.67M | 42.96M | 29.38M |
| Receivables - OtherOther Receivables | 0.62M | 0.61M | 0.35M | 0.16M | -70.33M | 1.70M | 1.68M | 2.80M | ||||||||||||
| Receivables | 1.86M | 4.49M | 8.52M | 12.14M | 17.43M | 8.70M | 17.43M | 8.42M | 7.61M | 5.59M | 16.14M | 6.50M | 9.82M | 9.90M | 42.87M | 27.09M | -24.03M | 38.37M | 44.63M | 32.17M |
| Raw Materials | 10.95M | 17.40M | 21.56M | 16.51M | 30.45M | 21.08M | 20.61M | 24.73M | 24.92M | |||||||||||
| Work In Process | 0.23M | 0.28M | 0.21M | 0.01M | 0.00M | 0.01M | 961.80 | |||||||||||||
| Finished Goods | 2.15M | 2.91M | 3.57M | 4.94M | 11.72M | 37.55M | 33.94M | 65.65M | 67.09M | |||||||||||
| Inventory | 13.33M | 19.19M | 20.59M | 22.81M | 29.99M | 32.46M | 25.34M | 26.34M | 22.75M | 21.17M | 21.45M | 26.42M | 32.77M | 47.24M | 42.17M | 54.56M | 58.63M | 54.55M | 90.38M | 92.01M |
| Current Deferred Tax AssetsCurrent Deferred Tax | 0.82M | 2.54M | 2.20M | 2.03M | 2.47M | 1.96M | 1.86M | 1.98M | 0.86M | 2.88M | 4.42M | 8.10M | ||||||||
| Prepaid Assets | 1.11M | 6.79M | 3.89M | 6.90M | 5.36M | 4.82M | 4.40M | 4.34M | 3.65M | 4.94M | 4.95M | 11.30M | 8.83M | 8.15M | 8.77M | 16.30M | 28.92M | 27.09M | 37.30M | 48.44M |
| Current Assets | 61.62M | 126.97M | 161.95M | 175.83M | 189.70M | 213.64M | 186.05M | 169.14M | 203.17M | 249.51M | 233.57M | 216.36M | 266.80M | 326.04M | 296.54M | 265.33M | 282.91M | 244.53M | 302.07M | 332.74M |
| Non-Current Assets | ||||||||||||||||||||
| Land & Improvements | 4.87M | 4.83M | 4.81M | 4.98M | 7.37M | |||||||||||||||
| Property, Plant & Equipment (Net)PP&E (Net) | 4.34M | 5.72M | 5.93M | 8.92M | 12.75M | 16.55M | 21.41M | 21.50M | 22.85M | 25.65M | 30.03M | 39.40M | 47.52M | 56.87M | 62.13M | 65.22M | 55.87M | 44.88M | 44.55M | 59.24M |
| Long-Term Investments | 10.68M | 3.10M | 3.10M | 5.62M | 8.16M | 2.81M | ||||||||||||||
| Intangibles | 0.19M | 1.21M | 1.12M | 1.34M | 1.24M | 1.15M | 1.10M | 1.04M | 0.97M | 0.92M | 0.85M | 0.79M | 0.72M | 0.65M | 2.19M | 0.50M | 0.26M | 0.18M | 0.15M | 0.11M |
| Goodwill & Intangibles | 0.19M | 1.23M | 1.12M | 1.34M | 1.24M | 1.15M | 1.10M | 1.04M | 0.97M | 0.90M | 0.85M | 0.79M | 0.72M | 0.65M | 2.19M | 0.50M | 0.26M | 0.18M | 0.15M | 0.11M |
| Long-Term Deferred Tax | 2.20M | 1.86M | 0.86M | 2.88M | 4.42M | 8.10M | ||||||||||||||
| Other Non-Current Assets | 0.09M | 2.23M | 2.43M | 2.19M | 0.69M | 0.68M | 0.93M | 0.83M | 6.28M | 6.61M | 4.65M | 0.50M | 0.27M | 0.35M | 0.37M | 0.63M | 1.78M | 0.93M | 2.69M | 5.07M |
| Non-Current Assets | 14.50M | 9.17M | 9.47M | 12.45M | 19.74M | 23.22M | 28.31M | 28.20M | 35.73M | 40.70M | 45.10M | 69.18M | 69.45M | 78.00M | 85.29M | 91.10M | 73.76M | 59.54M | 61.72M | 83.23M |
| Assets | 76.12M | 136.13M | 171.42M | 188.28M | 209.44M | 236.86M | 214.36M | 197.35M | 238.90M | 290.21M | 278.67M | 285.54M | 336.24M | 404.04M | 381.83M | 356.43M | 356.67M | 304.07M | 363.79M | 415.98M |
| Liabilities | ||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||
| Accounts Payables | 18.88M | 51.40M | 36.11M | 41.10M | 38.97M | 55.81M | 56.16M | 27.71M | 53.30M | 80.91M | 81.32M | 53.80M | 82.49M | 123.34M | 84.29M | 55.16M | 80.95M | 120.70M | 120.98M | 99.27M |
| Notes Payables | 27.20M | 25.95M | 31.44M | 31.06M | 39.11M | 37.56M | 30.84M | 26.68M | 25.48M | 26.51M | 27.16M | 20.06M | 20.01M | 15.74M | 28.15M | 25.08M | 44.55M | 40.88M | 54.89M | 33.84M |
| Payables | 46.09M | 78.13M | 67.55M | 72.17M | 78.08M | 93.37M | 87.00M | 54.39M | 78.55M | 105.37M | 108.48M | 73.86M | 102.50M | 139.08M | 112.45M | 80.15M | 125.50M | 161.58M | 175.87M | 133.11M |
| Accumulated Expenses | 20.28M | 18.23M | 25.39M | 19.49M | 25.93M | 27.69M | 24.90M | 21.11M | 25.75M | 29.60M | 30.01M | 31.59M | 36.64M | 33.50M | 1.76M | 23.76M | 1.06M | 1.87M | 56.36M | 57.08M |
| Other Accumulated Expenses | 0.17M | 0.53M | 1.46M | 2.37M | 2.67M | 2.65M | 0.49M | 1.26M | 3.51M | |||||||||||
| Short term Debt | 22.91M | |||||||||||||||||||
| Current Leases | 1.20M | 1.09M | 0.71M | 0.17M | ||||||||||||||||
| Current Taxes | 0.44M | 1.10M | 2.07M | 2.01M | 2.95M | 2.66M | 0.19M | 0.72M | 1.73M | 2.75M | 2.57M | 0.27M | 0.19M | 0.31M | 0.31M | |||||
| Current Deferred Revenue | 7.33M | 6.99M | 4.83M | 6.68M | 6.71M | 6.20M | 5.78M | 4.49M | 5.08M | 4.17M | 9.87M | 8.11M | 6.72M | 7.58M | 9.50M | 12.76M | 10.39M | 6.98M | 10.46M | 39.63M |
| Total Current Liabilities | 87.44M | 103.98M | 86.34M | 100.37M | 113.65M | 131.82M | 98.40M | 83.92M | 114.94M | 147.69M | 124.22M | 124.66M | 157.88M | 208.32M | 176.60M | 153.02M | 167.71M | 148.74M | 229.97M | 282.43M |
| Non-Current Liabilities | ||||||||||||||||||||
| Convertible Debt | 22.91M | |||||||||||||||||||
| Non-Current Deffered Revenue | 0.04M | 0.50M | 0.31M | 0.06M | 0.20M | 0.26M | 0.31M | 0.35M | 0.42M | 0.54M | 4.94M | 0.80M | 0.84M | 1.51M | 1.67M | 1.68M | 1.85M | 2.35M | 3.25M | 3.29M |
| Preferred Stock Liabilities | 35.95M | 90.66M | ||||||||||||||||||
| Non-Current Deferred Tax LiabilityNon-Current Deferred Tax | 0.18M | 0.18M | 0.30M | 0.19M | 0.24M | 0.30M | 0.31M | 0.37M | 0.33M | 0.45M | 0.46M | 0.29M | ||||||||
| Operating Leases | 2.98M | 2.84M | 2.66M | 2.18M | 2.02M | 1.06M | 0.04M | 0.01M | 0.56M | |||||||||||
| Other Non-Current Liabilities | 1.87M | 2.63M | 3.23M | 2.41M | 2.42M | 2.65M | 3.17M | 2.75M | 3.26M | 4.16M | 3.76M | 3.78M | 3.90M | 3.36M | 3.28M | 2.78M | 1.89M | 1.35M | 1.80M | 1.82M |
| Total Non-Current Liabilities | 1.89M | 3.13M | 2.58M | 2.47M | 2.62M | 2.91M | 3.66M | 3.27M | 3.68M | 4.70M | 4.55M | 7.75M | 7.82M | 7.83M | 7.44M | 6.85M | 4.76M | 3.44M | 4.17M | 5.96M |
| Total Liabilities | 89.33M | 107.11M | 88.92M | 102.84M | 116.27M | 134.72M | 102.06M | 87.19M | 118.61M | 152.39M | 128.78M | 132.41M | 165.70M | 216.16M | 184.04M | 159.87M | 172.46M | 152.18M | 234.14M | 288.39M |
| Shareholder's Equity | ||||||||||||||||||||
| Total Debt | 22.91M | |||||||||||||||||||
| Common Equity | -49.16M | 61.64M | 82.50M | 85.44M | 93.16M | 102.13M | 112.30M | 110.16M | 120.29M | 137.82M | 149.89M | 153.13M | 170.55M | 187.89M | 197.79M | 196.56M | 184.21M | 151.89M | 129.65M | 127.59M |
| Liabilities and Shareholders Equity | 76.12M | 137.50M | 171.42M | 188.28M | 209.44M | 236.86M | 214.36M | 197.35M | 238.21M | 284.68M | 278.67M | 285.54M | 336.24M | 404.04M | 381.83M | 356.01M | 356.67M | 304.07M | 363.79M | 415.98M |
| Retained Earnings | 66.54M | 99.20M | 248.40M | 256.31M | 251.05M | 242.04M | 246.60M | 246.57M | 248.86M | 262.81M | 271.90M | 276.89M | 282.88M | 286.01M | 290.20M | 295.08M | 269.37M | 272.79M | 276.85M | 284.32M |
| Preferred Shares | 0.00M | |||||||||||||||||||
| Treasury Shares | 2.52M |