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Financial Statements — PDD
Balance Sheet
(in billions CNY)| Metric | Q4 2025 | Q4 2024 | Q4 2023 | Q4 2022 |
|---|---|---|---|---|
| Cash & Equivalents | 108.90 | 57.77 | 59.79 | 4.98 |
| Short-term Investments | 66.03 | 6.09 | 17.15 | 115.11 |
| Total Current Assets | 518.98 | 415.65 | 294.75 | 216.62 |
| Property, Plant & Equipment | 0.19 | 0.88 | 0.98 | 1.04 |
| Intangible Assets | 0.02 | 0.02 | 0.02 | 0.02 |
| Total Non-current Assets | 111.06 | 89.39 | 53.33 | 2.97 |
| Total Assets | 630.04 | 505.03 | 348.08 | 237.12 |
| Accounts Payable | 81.66 | 69.14 | 7.80 | 3.04 |
| Total Current Liabilities | 30.56 | 188.42 | 152.90 | 116.89 |
| Total Non-current Liabilities | 2.92 | 0.45 | 1.12 | 2.46 |
| Total Liabilities | 216.66 | 191.72 | 160.84 | 17.30 |
| Retained Earnings | 284.16 | 187.42 | 10.58 | 2.20 |
| Total Stockholder Equity | 59.11 | 313.31 | 187.24 | 17.08 |
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