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I-Mab Balance Sheet 2025-2011 | IMAB
Brief overview of I-Mab's balance sheet structure
This overview follows the five latest available annual observations between 2018 and 2023.
Assets grew from 2.4 billion CNY to 2.6 billion CNY. An increase of +10% at roughly 1.9% CAGR was not especially fast.
Liability growth of +115.3% exceeded asset growth of +10%, increasing reliance on outside funding.
The equity-to-assets ratio is 65.8%, compared with -40.2% five periods ago. The balance sheet has a substantial internal cushion.
The period ended with net cash: net debt stood at -2.1 billion CNY. This supports financial flexibility.
The cash reserve occupies 82% of the balance sheet, previously 70.7%. It is one marker of short-term resilience.
The accumulated result is -8.3 billion CNY and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.
What the balance sheet shows
I-Mab's balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.
Annual Balance Sheet I-Mab
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | - | -2.1 B | -3.16 B | - | - | -1.06 B | -1.61 B | -94.9 M | - | - | - | - | - | - |
Long Term Debt |
- | - | 23.1 M | 32.1 M | - | - | 68.2 M | 67 M | 114 M | - | - | - | - | - | - |
Long Term Debt Current |
- | - | 21.9 M | 24 M | - | 8.06 M | 6.81 M | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 131 M | 79.6 M | 2.98 B | 1.13 B | - | - | - | - | - | - |
Total Current Liabilities |
- | - | 412 M | 758 M | - | 576 M | 588 M | 346 M | - | - | - | - | - | - | - |
Total Liabilities |
- | - | 895 M | 1.16 B | - | 707 M | 668 M | 416 M | 1.33 B | - | - | - | - | - | - |
Deferred Revenue |
- | - | 2.2 M | 8.68 M | - | - | 563 K | 14.2 M | 15.8 M | - | - | - | - | - | - |
Retained Earnings |
- | - | -8.33 B | -6.86 B | -4.35 B | -2.02 B | -2.49 B | -1.01 B | -358 M | - | - | - | - | - | - |
Total Assets |
- | - | 2.61 B | 4.07 B | - | 6.33 B | 1.74 B | 2.38 B | 1.03 B | - | - | - | - | - | - |
Cash and Cash Equivalents |
- | - | 2.14 B | 3.21 B | - | 4.76 B | 1.14 B | 1.68 B | 413 M | - | - | - | - | - | - |
Book Value |
- | - | 1.72 B | 2.91 B | - | 5.63 B | 1.07 B | 1.96 B | -300 M | - | - | - | - | - | - |
Total Shareholders Equity |
- | - | 1.72 B | 2.91 B | 4.56 B | 5.63 B | -2.03 B | -955 M | -300 M | - | - | - | - | - | - |
All numbers in CNY currency
Quarterly Balance Sheet I-Mab
| 2025-Q4 | 2025-Q3 | 2025-Q2 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
- | - | - | - | - | - | - | - | - | 81.8 M | - | - | - | 5.54 M | 5.18 M | - | - | 7.49 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
- | - | - | - | 895 M | 1.16 B | - | 975 M | - | 1.04 B | - | - | - | 707 M | 556 M | - | - | 668 M | - | - | - | 416 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 14.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
- | - | - | - | -8.33 B | -6.86 B | - | -5.4 B | - | -4.35 B | - | - | - | -2.02 B | -3.06 B | - | - | -2.49 B | - | - | - | -1.01 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
- | - | - | - | 2.61 B | 4.07 B | - | 4.99 B | - | 5.6 B | - | - | - | 6.33 B | 4.3 B | - | - | 1.74 B | - | - | - | 2.38 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
- | - | - | - | - | - | - | - | - | 3.52 B | - | - | - | 4.76 B | 2.96 B | - | - | 1.14 B | 1.28 B | - | - | 1.59 B | - | - | - | 413 M | - | - | - | 64.1 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
- | - | - | - | 1.72 B | 2.91 B | - | 4.02 B | - | 4.56 B | - | - | - | 5.63 B | 3.74 B | - | - | 1.07 B | - | - | - | 1.96 B | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
- | - | - | - | 1.72 B | 2.91 B | - | 4.02 B | - | 4.56 B | - | - | - | 5.63 B | 3.74 B | - | - | -2.03 B | -1.63 B | - | - | -955 M | - | - | - | -300 M | - | - | - | -14.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in CNY currency
Balance Sheet is a fundamental financial report of I-Mab, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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