Baozun (BZUN) Balance Sheet: Assets & Liabilities

Baozun (BZUN) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Baozun reported total assets of CNY 9.69B and total liabilities of CNY 4.20B. Shareholders' equity was CNY 3.64B, down 37.0% from CNY 5.78B a year earlier. Total debt stood at CNY 2.03B against CNY 2.65B in cash and short-term investments, a net cash position of CNY 621.83M. That puts debt-to-equity at 0.56, compared with 0.31 a year earlier.

Baozun Balance Sheet Analysis

Values in billions CNY

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Balance sheet showing assets, liabilities, and shareholders' equity for Baozun Inc. (BZUN) - Annual data in billions CNY
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	0.91	1.29	2.15	2.14	4.61	3.72	1.51	0.51	0.30
Short-Term Investments	1.75	1.27	0.72	0.90	0.00	1.45	0.84	0.06	0.32
Cash & Short-Term Investments	2.65	2.56	2.87	3.04	4.61	5.17	2.35	0.57	0.61
Accounts Receivable	2.17	2.03	2.18	2.29	2.26	2.56	2.12	1.62	1.20
Inventory	0.88	1.12	1.05	0.94	1.07	1.31	1.10	0.82	0.48
Other Current Assets	0.04	1.49	0.04	1.03	0.02	0.10	0.07	0.25	0.21
Total Current Assets	6.80	7.21	7.29	7.40	9.20	9.14	5.63	3.26	2.50
Non-Current Assets
Property, Plant & Equipment (Net)	1.41	1.59	1.92	1.54	1.75	0.95	0.85	0.40	0.33
Long-Term Investments	0.49	0.34	0.14	0.27	0.33	0.05	0.24	0.10	0.02
Goodwill	0.27	0.36	0.31	0.34	0.40	0.01	0.01	0.01	0.01
Intangible Assets	0.36	0.39	0.34	0.35	0.44	0.15	0.15	0.13	0.07
Other Non-Current Assets	0.07	0.30	0.05	0.23	0.09	0.09	0.08	0.07	0.06
Total Non-Current Assets	2.89	2.99	3.18	2.69	3.12	1.31	1.39	0.76	0.52
Total Assets	9.69	10.21	10.47	10.12	12.32	10.45	7.02	4.02	3.01
Current Liabilities
Accounts Payable	0.47	1.09	0.56	0.99	0.49	0.42	0.87	0.89	0.59
Short-Term Debt	1.54	1.22	1.62	1.02	2.82	0.66	0.77	0.46	0.22
Accrued Liabilities	0.59	1.17	0.53	1.03	0.48	0.94	-	-	-
Deferred Revenue	0.19	0.17	0.16	0.12	0.06	0.07	0.02	0.02	0.03
Other Current Liabilities	0.09	0.03	0.09	0.41	0.08	0.97	0.56	0.32	0.29
Total Current Liabilities	3.65	3.75	3.76	3.68	4.78	2.19	2.30	1.75	1.16
Non-Current Liabilities
Long-Term Debt	0.49	0.60	0.80	0.66	0.88	2.13	2.15	0.07	0.00
Deferred Tax Liabilities	0.02	0.03	0.02	0.03	0.05	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	0.04	0.08	0.04	0.09	0.13	0.00	0.00	0.00	0.00
Total Non-Current Liabilities	0.55	0.68	0.86	0.76	1.06	2.13	2.15	0.07	0.00
Total Liabilities	4.20	4.43	4.62	4.45	5.84	4.32	4.45	1.82	1.17
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Retained Earnings	-0.93	-0.69	-0.51	-0.23	0.43	0.95	0.52	0.25	-0.03
Accumulated Other Comprehensive Income	0.03	0.05	0.03	0.02	-0.10	-0.05	0.03	0.03	0.01
Treasury Stock	0.09	0.10	-	0.83	0.39	-	-	-	-
Additional Paid-in Capital	4.64	4.65	4.57	4.23	4.96	5.20	1.99	1.91	1.85
Minority Interest	1.85	1.87	1.75	1.57	1.58	0.03	0.03	0.02	0.02
Shares Outstanding	0.17	0.17	0.18	0.18	0.21	-	-	-	-
Total Stockholders' Equity	3.64	5.78	4.10	5.68	4.90	6.10	2.54	2.18	1.83
Total Liabilities & Equity	9.69	10.21	10.47	9.98	12.32	10.45	7.02	4.02	3.01

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Baozun Balance Sheet

How much debt does Baozun have?

Baozun had total debt of CNY 2.03B as of Dec 31, 2025, against CNY 2.65B in cash and short-term investments. Its debt-to-equity ratio was 0.56. Total debt was CNY 1.82B a year earlier.

What are Baozun's total assets?

Baozun reported total assets of CNY 9.69B as of Dec 31, 2025, down 5.1% from CNY 10.21B a year earlier. Total liabilities were CNY 4.20B.

What is Baozun's shareholders' equity?

Baozun's shareholders' equity was CNY 3.64B as of Dec 31, 2025, or about CNY 20.90 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition