Research analysts covering XChange TEC.INC.
Recent press releases and 8-K filings for XHG.
XChange TEC.INC Reports Increased Revenue Amidst Significant Net Loss and Going Concern Doubts
XHG
Earnings
Delisting/Listing Issues
Debt Issuance
- XChange TEC.INC reported a 129% increase in revenues to RMB 175.7 million (US$24.2 million) for the six months ended March 31, 2025, primarily due to the full consolidation of Alpha Mind Technology Limited. However, the company recorded a significant net loss of RMB 677.7 million (US$93.4 million) for the same period, largely driven by a RMB 644.9 million (US$93.4 million) goodwill impairment loss.
- The company's financial statements indicate substantial doubt about its ability to continue as a going concern due to accumulated deficits of RMB 4,534,513 as of March 31, 2025, net cash used in operating activities of RMB 7,948 for the six months ended March 31, 2025, and current liabilities exceeding current assets by RMB 1,285,045.
- XChange TEC.INC extended the maturity date of its promissory notes with MMTEC, Inc. to December 31, 2025. The company also converted US$51,988,242 of a promissory note held by Infinity Asset Solutions Ltd. into 108,027,515,844 Class A ordinary shares on May 9, 2025.
- The company underwent a share consolidation effective January 24, 2025, at a ratio of 100,000:1. XChange TEC.INC also faced and subsequently regained compliance with Nasdaq's minimum bid price rule in November 2024 and the Market Value of Listed Securities (MVLS) rule in June 2025.
Sep 3, 2025, 8:30 PM
Quarterly earnings call transcripts for XChange TEC.INC.
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