**[Neo 2025 Financial Report: Treasury Holds Approximately 41.17 Million NEO and 40.08 Million GAS, High-Liquidity Assets Include Around 1,112 BTC]** BlockBeats news, March 3 — The Neo Foundation released its financial report and insights for the 2025 fiscal year, covering Neo's financial status since its inception, as well as investment summaries, asset management, expenditures, and Neo's next phase restructuring plans. Over the past 12 years, Neo has grown from an initial capital of approximately $5.2 million, overcoming challenges to achieve significant returns, with total high-liquidity cash inflows nearing $200 million. The appreciation of crypto assets has made a notable contribution, with treasury assets reaching a historic high of approximately $461 million. As of the end of 2025, the treasury holds approximately 41.17 million NEO and 40.08 million GAS. By converting part of the GAS into NEO, the foundation was able to recover most of the initial principal and generate a net surplus of approximately 25.7 million GAS. Additionally, high-liquidity assets include around 1,112 BTC, primarily derived from internal consolidation and NGC liquidation. Currently, the treasury is primarily composed of high-liquidity assets, maintaining overall health and self-sufficiency. The cumulative expenditure structure shows: operating expenses account for 58%, community and ecosystem support for 27%, and investment activities for 14%. Neo's next phase restructuring plans focus on: transitioning governance to a community-driven model, with decisions based on capability and merit, reducing reliance on the founders; enhancing transparency by publishing annual financial reports starting in 2026, conducting independent audits, disclosing treasury wallet addresses, and replacing single-signature custody with multi-signature custody; shifting operational focus to Hong Kong to optimize the regulatory environment; upgrading the technology stack to embrace non-NeoVM-compatible chains; and strategically positioning in emerging fields, particularly AI, with the upcoming release of "Neo's AI Strategy."