← XChange TEC.INC
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and Cash Equivalents, at Carrying Value | $22.4m | $3.4m | $2.5m | $390k | $49k | $1.2m | $1.5m | |
| Short-term Investments | — | — | — | — | — | $290k | $266k | |
| Cash and cash equivalents | $159.8m | $22.9m | $16.3m | $2.8m | $360k | $8.1m | $10.9m | |
| Accounts receivable, net | $1.3m | $1.9m | $370k | $752k | $0 | $36.3m | $23.5m | |
| Other current assets | $146.6m | $101.8m | $143.3m | $59.0m | $1.3m | $7.5m | $1.0m | |
| Restricted Cash, non-current | — | — | — | — | — | $5.0m | $5.0m | |
| Allowance For Doubtful Accounts Receivable | — | — | ($19.5m) | — | $0 | ($191k) | ($41k) | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | $563k | $286k | $10.1m | $12.8m | |
| Gross Accounts Receivable | — | — | $19.8m | — | $0 | $36.5m | $23.5m | |
| Other Short Term Investments | — | — | — | — | $0 | $2.0m | $1.9m | |
| Prepaid Assets | — | — | — | $7.1m | $7.3m | $13.7m | $2.6m | |
| Accounts Receivable, after Allowance for Credit Loss | — | — | — | — | — | $191k | $41k | |
| Assets, Current | $83.5m | $29.9m | $27.4m | $10.0m | $11.7m | $9.6m | $5.6m | |
| Total current assets | $596.5m | $203.0m | $176.7m | $71.2m | $85.7m | $67.6m | $39.9m | |
| Property, Plant and Equipment, Net | $165.8m | $52.7m | $6.0m | $70k | — | $1k | $1k | |
| Goodwill | — | — | — | — | $0 | $101.1m | $3.3m | |
| Intangible Assets, Net (Excluding Goodwill) | $175k | $32.7m | $23.7m | $1.9m | — | — | $95k | |
| Intangible Assets | $1.2m | $222.1m | $152.5m | $13.5m | — | — | $678k | |
| Goodwill And Other Intangible Assets | — | — | — | $13.5m | $0 | $709.2m | $24.0m | |
| Operating Lease, Right-of-Use Asset | — | — | — | — | — | $135k | $77k | |
| Other Assets, Noncurrent | $832k | $8.4m | $1.5m | $1.5m | — | — | — | |
| Operating lease right of use assets | — | — | — | — | — | $947k | $551k | |
| Additional Financial Items | ||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $180k | $286k | $57k | $106k | — | $5.2m | $3.3m | |
| Accrued Liabilities, Current | — | — | — | — | $2.4m | $24.0m | $37.0m | |
| Advances to suppliers | $64.0m | $16.0m | $12.9m | $8.5m | $7.3m | $13.7m | $2.6m | |
| Amounts due to related parties | $3.1m | $6.6m | — | $4.8m | $4.5m | $8.6m | $2.1m | |
| Tax payable | — | — | — | $63.6m | $0 | $1.5m | $1.6m | |
| Operating lease liabilities, current | — | — | — | — | — | $349k | $199k | |
| Notes payable | — | — | — | — | $0 | $1.1b | $668.0m | |
| Contingent liabilities for payable for asset acquisition | — | — | $164.3m | $165.0m | $169.3m | $162.8m | $165.2m | |
| Accrued expenses and other current liabilities | $99.3m | $443.4m | $1.0b | $81.6m | $2.4m | $33.2m | $51.1m | |
| Operating lease liabilities, non-current | — | — | — | — | — | $587k | $353k | |
| Ordinary shares value | — | — | $110k | $1.7m | $1.9m | $57.2m | $179.6m | |
| Accumulated Depreciation | — | — | ($24.7m) | ($2.7m) | — | — | — | |
| Assets Held For Sale Current | — | — | — | $63.5m | $77.8m | $0 | — | |
| Buildings And Improvements | — | — | $40.2m | $0 | — | — | — | |
| Capital Lease Obligations | — | — | $0 | — | $0 | $936k | $552k | |
| Current Accrued Expenses | — | — | — | $3.5m | $1.3m | $24.0m | $37.0m | |
| Current Capital Lease Obligation | — | — | $0 | — | $0 | $349k | $199k | |
| Current Debt | — | — | — | $6.5m | $44.4m | $1.1b | $700.6m | |
| Current Debt And Capital Lease Obligation | — | — | — | $6.5m | $44.4m | $1.1b | $700.8m | |
| Current Deferred Liabilities | — | — | $339.3m | $173.6m | — | $0 | $17k | |
| Duefrom Related Parties Current | — | — | $23.5m | $36.1m | — | — | — | |
| Dueto Related Parties Current | — | — | — | $4.1m | $4.5m | $4.3m | $1.1m | |
| Gross PPE | — | — | — | $3.2m | $0 | $953k | $557k | |
| Interest Payable | — | — | — | $3.5m | $1.3m | $24.0m | $37.0m | |
| Invested Capital | — | — | — | ($566.3m) | ($599.0m) | $543.1m | ($179.6m) | |
| Line Of Credit | — | — | $116.4m | $103.6m | — | — | — | |
| Long Term Capital Lease Obligation | — | — | $0 | — | $0 | $587k | $353k | |
| Machinery Furniture Equipment | — | — | $23.5m | $3.2m | — | — | — | |
| Net Debt | — | — | — | $6.0m | $44.1m | $1.1b | $689.7m | |
| Net PPE | — | — | — | $500k | $0 | $953k | $557k | |
| Net Tangible Assets | — | — | — | ($572.9m) | ($643.4m) | ($1.3b) | ($904.1m) | |
| Ordinary Shares Number | — | — | — | $25.9m | $28.4m | $795.1m | $123.7b | |
| Other Current Borrowings | — | — | — | $22.3m | $44.4m | $32.1m | $32.5m | |
| Other Current Liabilities | — | — | — | $654.3m | $678.7m | $172.0m | $179.3m | |
| Other Equity Adjustments | — | — | — | $29.5m | $25.4m | $106.0m | $80.0m | |
| Other Non Current Assets | — | — | $9.6m | $24.4m | — | $5.0m | $5.0m | |
| Other Properties | — | — | — | — | — | $953k | $557k | |
| Properties | — | — | $0 | $0 | — | — | — | |
| Restricted Cash | — | — | $2.9m | $106k | — | — | — | |
| Share Issued | — | — | — | $25.9m | $28.4m | $795.1m | $123.7b | |
| Tangible Book Value | — | — | — | ($572.9m) | ($643.4m) | ($1.3b) | ($904.1m) | |
| Treasury Shares Number | — | — | $77.1m | $0 | — | — | — | |
| Working Capital | — | — | — | ($597.2m) | ($643.4m) | ($1.3b) | ($909.3m) | |
| Total non-current assets | $1.2b | $647.7m | $201.0m | $24.4m | $0 | $715.2m | $29.5m | |
| Total non-current liabilities | $913.5m | $883.4m | $514.9m | — | — | $587k | $353k | |
| Total shareholders’ deficit | ($2.2b) | ($2.0b) | ($2.5b) | ($572.9m) | ($643.4m) | ($556.6m) | ($880.1m) | |
| Total Capitalization | — | — | — | ($572.9m) | ($643.4m) | ($556.6m) | ($880.1m) | |
| Total Debt | — | — | — | $6.5m | $44.4m | $1.1b | $701.1m | |
| Assets | $251.8m | $125.3m | $58.6m | $13.4m | $11.7m | $111.6m | $9.7m | |
| Total assets | $1.8b | $850.7m | $377.6m | $95.5m | $85.7m | $782.8m | $69.4m | |
| LIABILITIES AND EQUITY | ||||||||
| Current liabilities: | ||||||||
| Operating Lease, Liability, Current | — | — | — | — | — | $50k | $28k | |
| Accounts Payable, Current | $38.8m | $43.4m | $49.7m | $17.2m | $25k | $5.3m | $4.1m | |
| Operating Lease, Liability, Noncurrent | — | — | — | — | — | $84k | $50k | |
| Deferred Revenue, Current | $11.0m | $22.5m | $30.4m | $18.3m | — | $0 | $17k | |
| Long-term Debt, Current Maturities | $150.7m | $159.7m | $219.1m | — | — | — | — | |
| Long-term Debt, Excluding Current Maturities | $59.9m | $68.5m | $31.2m | — | — | — | — | |
| Short-term debt | $319.1m | $762.1m | $558.7m | $110.1m | $44.4m | $32.1m | $32.5m | |
| Payables And Accrued Expenses | — | — | — | $7.5m | $5.9m | $66.8m | $69.0m | |
| Liabilities, Current | $237.4m | $288.9m | $364.3m | $94.0m | — | $190.8m | $133.3m | |
| Total current liabilities | $1.7b | $2.0b | $2.3b | $668.4m | $729.1m | $1.3b | $949.2m | |
| Long Term Debt And Capital Lease Obligation | — | — | $514.9m | — | $0 | $587k | $353k | |
| Liabilities | $365.2m | $419.1m | $444.3m | $94.0m | $99.9m | $190.9m | $133.4m | |
| Total liabilities | $2.6b | $2.8b | $2.9b | $668.4m | $729.1m | $1.3b | $949.5m | |
| Total liabilities and shareholders’ deficit | $1.8b | $850.7m | $377.6m | $95.5m | $85.7m | $782.8m | $69.4m | |
| Stockholders’ equity: | ||||||||
| Additional Paid in Capital | — | $307.1m | $286.4m | $415.4m | $3.0b | $3.1b | $3.5b | |
| Retained Earnings (Accumulated Deficit) | ($318.4m) | ($561.1m) | ($679.6m) | ($500.3m) | ($497.5m) | ($549.6m) | ($646.9m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($827k) | $2.7m | $6.0m | $4.1m | $3.5m | $15.1m | $11.2m | |
| Additional Paid in Capital, Common Stock | — | — | — | — | $405.6m | $447.0m | $486.8m | |
| Accumulated deficit | ($2.3b) | ($3.8b) | ($4.4b) | ($3.6b) | ($3.6b) | ($3.9b) | ($4.6b) | |
| Accumulated other comprehensive income | ($5.9m) | $18.4m | $38.8m | $29.5m | $25.4m | $106.0m | $80.0m | |
| Capital Stock | — | — | — | $1.7m | $1.9m | $57.2m | $179.6m | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | $29.5m | $25.4m | $106.0m | $80.0m | |
| Treasury Stock | — | — | $5k | $0 | $0 | — | — | |
| Stockholders' Equity Attributable to Parent | ($314.2m) | ($295.2m) | ($387.1m) | ($80.5m) | ($88.2m) | ($79.3m) | ($123.6m) | |
| Stockholders' Equity Attributable to Noncontrolling Interest | $1.4m | $1.4m | $1.5m | — | — | — | — | |
| Minority Interest | — | — | $9.6m | $0 | $0 | $587k | $353k | |
| Total Equity Gross Minority Interest | — | — | — | ($572.9m) | ($643.4m) | ($556.6m) | ($880.1m) | |
| Liabilities and Equity | $251.8m | $125.3m | $58.6m | $13.4m | $11.7m | $111.6m | $9.7m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.