Security
MAAS · Maase Inc.
MAASNASDAQCommon stockCurrentCIK 1750264Updated Sep 24, 2026
Name history
Highest Performances Holdings Inc. · through May 20, 2025PUYI, INC. · through Mar 13, 2024
MAAS price & chart
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Seeking Alpha
Maase to sell 49% stake in Laixi Intelligent for $17M ↗
Insurers in gainers; Goldman Sachs, Morgan Stanley among losers: week's financials wrap ↗
SEC disclosures
Maase Inc. IPO declared effective by SEC ↗
Recent filings
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 469,873,000Source | 588,657,000Source | 37,446,000Source | 69,264,000Source |
| Property, Plant and Equipment, NetUSD | 9,846,000Source | 11,941,000Source | 216,000Source | 1,367,000Source |
| GoodwillUSD | — | 33,453,000Source | — | — |
| Intangible Assets, Net (Excluding Goodwill)USD | 118,000Source | 57,459,000Source | — | 166,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 11,461,000Source | 40,689,000Source | — | 29,002,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 12,950,000Source | 37,557,000Source | 5,185,000Source | 8,884,000Source |
| Assets, CurrentUSD | 307,306,000Source | 328,230,000Source | 32,821,000Source | 58,935,000Source |
| Operating Lease, Right-of-Use AssetUSD | 8,649,000Source | 16,821,000Source | — | — |
| Other Assets, NoncurrentUSD | 54,800,000Source | 31,010,000Source | — | — |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 164,425,000Source | 225,421,000Source | 7,516,000Source | 30,439,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | — | 360,000Source | 83,000Source | 90,000Source |
| Additional Paid in CapitalUSD | — | — | — | 33,546,000Source |
| Retained Earnings (Accumulated Deficit)USD | -72,222,000Source | -44,206,000Source | -4,345,000Source | 1,767,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -839,000Source | -316,000Source | 23,000Source | -59,000Source |
| Stockholders' Equity Attributable to ParentUSD | 88,795,000Source | 176,838,000Source | — | 38,825,000Source |
| Additional Paid in Capital, Common StockUSD | 157,174,000Source | 217,830,000Source | 30,987,000Source | — |
| Liabilities and EquityUSD | 469,873,000Source | 588,657,000Source | 37,446,000Source | 69,264,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 80,127,000Source | 117,100,000Source | 4,284,000Source | 24,952,000Source |
| Operating Lease, Liability, CurrentUSD | 4,086,000Source | 7,463,000Source | 660,000Source | — |
| Accounts Payable, CurrentUSD | 16,286,000Source | 26,745,000Source | 868,000Source | 1,742,000Source |
| Operating Lease, Liability, NoncurrentUSD | 4,177,000Source | 8,664,000Source | — | — |
| Deferred Income Tax Liabilities, NetUSD | 28,521,000Source | 32,623,000Source | — | — |
| Other Liabilities, NoncurrentUSD | — | 4,592,000Source | — | — |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 209,962,000Source | 180,097,000Source | — | — |
| Additional Financial Items | ||||
| Accounts Receivable, after Allowance for Credit LossCNY | — | 1,323,032,000Source | — | 8,884,000Source |
| Accrued Liabilities, CurrentUSD | 13,949,000Source | 20,384,000Source | — | — |
| Deferred Tax Liabilities, NetCNY | 204,310,000Source | 237,074,000Source | — | — |
| Short-term InvestmentsUSD | 76,512,000Source | 80,350,000Source | — | 746,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -64,060,000Source | -70,463,000Source | -6,010,000Source | -9,057,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 10,204,000Source | 3,211,000Source | — | — |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -39,924,000Source | -9,270,000Source | -3,021,000Source | 650,000Source |
| Increase (Decrease) in Accounts PayableUSD | -23,091,000Source | -8,475,000Source | -741,000Source | -94,000Source |
| Deferred Income Tax Expense (Benefit)USD | -722,000Source | 1,279,000Source | 1,024,000Source | -357,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 9,977,000Source | 7,945,000Source | -18,741,000Source | -1,425,000Source |
| Cash flows from investing activities: | ||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -45,663,000Source | 32,221,000Source | -688,000Source | -1,582,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 774,000Source | 593,000Source | 121,000Source | 708,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | — | 1,380,000Source | — | — |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -1,980,000Source | -11,948,000Source | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | -3,007,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 14,701,000Source | 50,968,000Source | 23,820,000Source | 46,738,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 637,000Source | 132,000Source | — | — |
| Income Taxes Paid, NetUSD | 1,433,000Source | 720,000Source | — | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 662,000Source | 118,000Source | 77,000Source | 62,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | 90,375Source | 2,734,000Source | — | — |
| Amortization of Intangible AssetsUSD | 12,875,000Source | 6,995,000Source | 117,000Source | 124,000Source |
| Deferred Other Tax Expense (Benefit)CNY | -10,006,000Source | 9,311,000Source | — | — |
| DepreciationCNY | 9,412,000Source | 1,151,000Source | 489,000Source | 837,000Source |
| Depreciation, NonproductionCNY | 7,815,000Source | — | — | — |
| Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of TaxCNY | — | — | 13,737Source | — |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of TaxCNY | -32,081,000Source | — | — | — |
| Fair Value, Option, Changes in Fair Value, Gain (Loss)CNY | — | 82,527,000Source | — | — |
| Gain (Loss) on InvestmentsUSD | 779,000Source | 795,000Source | -24,000Source | — |
| Gain (Loss) on Disposition of Other AssetsUSD | 125,917,000Source | — | — | — |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | -164,000Source | -178,000Source | -407,000Source | — |
| Gain (Loss) on Termination of LeaseUSD | -98,000Source | -142,000Source | — | — |
| General and Administrative ExpenseUSD | 77,724,000Source | 51,757,000Source | 12,742,000Source | 15,268,000Source |
| GoodwillUSD | — | 33,453,000Source | — | — |
| Goodwill and Intangible Asset ImpairmentUSD | 79,323,000Source | — | — | — |
| Goodwill, Impairment LossCNY | 116,168,000Source | 58,676,000Source | — | — |
| Impairment of Intangible Assets (Excluding Goodwill)USD | 61,603,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | -22,877,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -46,982,000Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -17,078,000Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | -4,480,000Source | — | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | -535,000Source | -154,000Source | — | — |
| Income Tax Expense (Benefit)USD | -2,742,000Source | 1,781,000Source | 1,184,000Source | -138,000Source |
| Investment Income, InterestUSD | 3,950,000Source | 2,287,000Source | 1,870,000Source | — |
| Net Income (Loss) Attributable to ParentUSD | -27,357,000Source | -39,860,000Source | -6,010,000Source | -9,057,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | -30,603,000Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -27,654,000Source | -39,974,000Source | — | -5,018,000Source |
| Nonoperating Income (Expense)USD | — | -5,124,000Source | — | — |
| Operating Costs and ExpensesUSD | 143,957,000Source | 167,832,000Source | 23,891,000Source | 39,241,000Source |
| Other Nonoperating Income (Expense)USD | -82,595,000Source | -341,000Source | 228,000Source | 752,000Source |
| Proceeds from Stock Options ExercisedUSD | 10,000Source | — | — | — |
| Financing Receivable, Credit Loss, Expense (Reversal)CNY | 612,736,000Source | 9,499,000Source | — | — |
| Realized Investment Gains (Losses)USD | 3,839,000Source | — | — | — |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | 163,104,000Source | — | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 109,052,000Source | 163,104,000Source | 15,782,000Source | 28,178,000Source |
| Cost of Goods and Services Sold | — | — | — | — |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Operating Income (Loss)USD | -96,508,000Source | -63,404,000Source | -8,109,000Source | -11,063,000Source |
| Other Nonoperating Income (Expense)USD | -82,595,000Source | -341,000Source | 228,000Source | 752,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestCNY | -336,558,000Source | -498,005,000Source | -4,826,000Source | -9,195,000Source |
| Income Tax Expense (Benefit)USD | -2,742,000Source | 1,781,000Source | 1,184,000Source | -138,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | -30,603,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | -27,357,000Source | -39,860,000Source | -6,010,000Source | -9,057,000Source |
| Earnings Per Share, BasicUSD per share | -3.63Source | -0.17Source | -0.07Source | -0.1Source |
| Earnings Per Share, DilutedUSD per share | -3.61Source | -0.17Source | -0.07Source | -0.1Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 7,609,798Source | 232,761,359Source | 90,472,014Source | 90,472,014Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 7,609,798Source | — | 90,472,014Source | 90,472,014Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 12,875,000Source | 6,995,000Source | 117,000Source | 124,000Source |
| Current Income Tax Expense (Benefit)CNY | -9,636,000Source | 3,634,000Source | 160,000Source | 219,000Source |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of TaxCNY | -32,081,000Source | — | — | — |
| Fair Value, Option, Changes in Fair Value, Gain (Loss)CNY | — | 82,527,000Source | — | — |
| Gain (Loss) on InvestmentsUSD | 779,000Source | 795,000Source | -24,000Source | — |
| General and Administrative ExpenseUSD | 77,724,000Source | 51,757,000Source | 12,742,000Source | 15,268,000Source |
| Goodwill, Impairment LossCNY | 116,168,000Source | 58,676,000Source | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | -22,877,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -46,982,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | -3.05Source | — | -0.07Source | — |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | -3.02Source | — | -0.07Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -17,078,000Source | — | — | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | -4,480,000Source | — | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | -535,000Source | -154,000Source | — | — |
| Interest and Other IncomeUSD | — | — | 1,185,000Source | — |
| Interest Income, OtherCNY | — | 926,000Source | — | 790,000Source |
| Investment Income, InterestUSD | 3,950,000Source | 2,287,000Source | 1,870,000Source | — |
| Management Fee ExpenseCNY | — | — | 61,195,000Source | 87,546,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -27,654,000Source | -39,974,000Source | — | -5,018,000Source |
| Nonoperating Income (Expense)USD | — | -5,124,000Source | — | — |
| Operating Costs and ExpensesUSD | 143,957,000Source | 167,832,000Source | 23,891,000Source | 39,241,000Source |
| Other Cost and Expense, OperatingCNY | 48,000Source | 392,000Source | — | — |
| Other General and Administrative ExpenseCNY | 7,523,000Source | 5,940,000Source | — | — |
| Realized Investment Gains (Losses)USD | 3,839,000Source | — | — | — |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | 163,104,000Source | — | — |
| Selling and Marketing ExpenseUSD | — | 17,604,000Source | — | — |
| Selling ExpenseUSD | 10,764,000Source | — | 8,924,000Source | 18,922,000Source |
Filing attachments
ea030637201ex99-1.htm · 6-K · 2026-09-23
Exhibit 99.1 Maase Inc. Announces $50 Million PIPE Financing to Accelerate Deployment of Star Distributed Intelligent Computing Centers and Commercialization of Lingyanmiaoyu Large Language Model QINGDAO, China, September 23, 2026 -- Maase Inc. (NASDAQ: MAAS) (“MAAS” or the “Company”), an artificial intelligence (“AI”)-centric full-scene digital systems provider and operator, today announced that it has entered into a securities purchase agreement (the “Agreement”) with certain investor. Pursu…
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