Security
XChange TEC.INC American Depositary Shares · XHG
XHGNASDAQotherCurrentCIK 1769256Updated Oct 14, 2026
Name history
FLJ Group Ltd · through May 24, 2024Q&K INTERNATIONAL GROUP Ltd · through Sep 14, 2022
XHG price & chart
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Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q2 2026 | Q2 2025 | Q2 2024 | Q2 2023 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| AssetsUSD | 9,440,000Source | 15,930,000Source | 185,896,000Source | — | 9,745,000Source | 111,553,000Source | 11,740,000Source | 13,432,000Source |
| Property, Plant and Equipment, NetUSD | — | 1,000Source | 31,000Source | — | 1,000Source | 1,000Source | — | 70,000Source |
| GoodwillUSD | 3,375,000Source | 8,865,000Source | 1,284,218,000Source | — | 3,271,000Source | 101,066,000Source | — | — |
| Intangible Assets, Net (Excluding Goodwill)USD | 98,000Source | 93,000Source | — | — | 95,000Source | — | — | 1,894,000Source |
| Current assets: | ||||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 644,000Source | 674,000Source | 973,000Source | — | 1,528,000Source | 1,152,000Source | 49,000Source | 390,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 3,297,000Source | 2,990,000Source | 3,384,000Source | — | 3,295,000Source | 5,169,000Source | — | 106,000Source |
| Assets, CurrentUSD | 5,173,000Source | 6,171,000Source | 7,177,000Source | — | 5,599,000Source | 9,639,000Source | 11,740,000Source | 10,004,000Source |
| Operating Lease, Right-of-Use AssetUSD | 69,000Source | 111,000Source | 69,000Source | — | 77,000Source | 135,000Source | — | — |
| Other Assets, NoncurrentUSD | — | — | — | — | — | — | — | 1,464,000Source |
| LIABILITIES AND EQUITY | ||||||||
| LiabilitiesUSD | 135,762,000Source | 183,311,000Source | 217,003,000Source | — | 133,378,000Source | 190,864,000Source | 99,930,000Source | 93,964,000Source |
| Stockholders’ equity: | ||||||||
| Additional Paid in CapitalUSD | — | — | — | — | — | — | — | 415,355,000Source |
| Retained Earnings (Accumulated Deficit)USD | -670,212,000Source | -624,873,000Source | -449,089,000Source | — | -646,891,000Source | -549,590,000Source | -497,530,000Source | -500,270,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 15,464,000Source | 8,716,000Source | 7,658,000Source | — | 11,236,000Source | 15,112,000Source | 3,467,000Source | 4,140,000Source |
| Stockholders' Equity Attributable to ParentUSD | -126,322,000Source | -1,214,631,000Source | -224,609,000Source | -608,720,000Source | -123,633,000Source | -79,311,000Source | -88,190,000Source | -80,532,000Source |
| Additional Paid in Capital, Common StockUSD | 502,393,000Source | 424,042,000Source | 410,061,000Source | — | 486,797,000Source | 447,019,000Source | 405,597,000Source | — |
| Liabilities and EquityUSD | 9,440,000Source | 15,930,000Source | 185,896,000Source | — | 9,745,000Source | 111,553,000Source | 11,740,000Source | 13,432,000Source |
| Current liabilities: | ||||||||
| Liabilities, CurrentUSD | 135,725,000Source | 183,255,000Source | 216,955,000Source | — | 133,328,000Source | 190,780,000Source | — | 93,964,000Source |
| Operating Lease, Liability, CurrentUSD | 31,000Source | 50,000Source | 17,000Source | — | 28,000Source | 50,000Source | — | — |
| Accounts Payable, CurrentUSD | 4,384,000Source | 3,507,000Source | 3,277,000Source | — | 4,141,000Source | 5,268,000Source | 25,000Source | 17,244,000Source |
| Operating Lease, Liability, NoncurrentUSD | 37,000Source | 56,000Source | 48,000Source | — | 50,000Source | 84,000Source | — | — |
| Additional Financial Items | ||||||||
| Accounts Receivable, after Allowance for Credit LossCNY | — | 40,000Source | — | — | 41,000Source | 191,000Source | — | — |
| Accrued Liabilities, CurrentCNY | — | — | — | — | 36,957,000Source | 24,019,000Source | 2,375,000Source | — |
| Deferred Revenue, CurrentUSD | — | — | — | — | — | — | — | 18,265,000Source |
| Short-term InvestmentsUSD | 335,000Source | 235,000Source | 231,000Source | — | 266,000Source | 290,000Source | — | — |
cash flow · annual statements
| Line item | Q2 2026 | Q2 2025 | Q2 2024 | Q2 2023 | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | -105,129,000Source | -32,322,000Source | -9,774,000Source | 115,269,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | — | — | — | — | — | —Source | — | —Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | — | — | — | — | — | 357,000Source | 655,000Source | 1,374,000Source |
| Changes in operating assets and liabilities: | ||||||||
| Increase (Decrease) in Accounts ReceivableUSD | — | — | — | — | -1,822,000Source | 2,413,000Source | — | 55,000Source |
| Increase (Decrease) in Accounts PayableUSD | — | — | — | — | -1,052,000Source | 3,448,000Source | 25,000Source | — |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | — | — | 73,000Source | — | — |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | — | -1,643,000Source | -1,393,000Source | -5,464,000Source | -5,565,000Source |
| Cash flows from investing activities: | ||||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | — | -69,000Source | 1,449,000Source | — | -1,612,000Source |
| Cash flows from financing activities: | ||||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | — | 2,639,000Source | 1,235,000Source | 5,190,000Source | 4,120,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | — | 392,000Source | 1,707,000Source | -243,000Source | -2,301,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 1,369,000Source | 9,890,000Source | 1,665,000Source | 214,000Source | 2,230,000Source | 1,864,000Source | 49,000Source | 405,000Source |
| Supplemental disclosure of cash flow information: | ||||||||
| Income Taxes Paid, NetUSD | — | — | — | — | 33,000Source | -13,000Source | — | — |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | — | — | -535,000Source | 416,000Source | — | — |
| Additional Financial Items | ||||||||
| Accretion ExpenseUSD | — | — | — | — | 3,867,000Source | 3,426,000Source | — | 172,000Source |
| Share-based Payment Arrangement, ExpenseCNY | — | — | — | — | — | 2,507,000Source | 4,782,000Source | 9,771,000Source |
| Amortization of Intangible AssetsCNY | — | — | — | — | — | — | — | 26,397,000Source |
| AssetAcquisitionContingentConsiderationLiabilityCNY | — | — | — | — | 495,039,000Source | 495,039,000Source | — | — |
| Deconsolidation, Gain (Loss), AmountUSD | — | — | — | — | — | — | — | 218,521,000Source |
| DepreciationCNY | — | — | — | — | — | — | — | 1,002,000Source |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of TaxUSD | — | — | — | — | — | 55,360,000Source | — | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | — | — | — | — | -70,000Source | 329,000Source | — | — |
| Gain (Loss) on Sale of InvestmentsUSD | — | — | — | — | — | -55,000Source | — | — |
| Gain (Loss) on Disposition of Other AssetsUSD | — | — | — | — | — | -15,000Source | — | — |
| Gain (Loss) on Disposition of Property Plant EquipmentCNY | — | — | — | — | — | — | — | 0Source |
| General and Administrative ExpenseUSD | — | — | — | — | 4,561,000Source | 2,293,000Source | 3,519,000Source | 8,738,000Source |
| GoodwillUSD | 3,375,000Source | 8,865,000Source | 1,284,218,000Source | — | 3,271,000Source | 101,066,000Source | — | — |
| Goodwill, Impairment LossUSD | — | — | — | — | 96,356,000Source | 81,934,000Source | — | — |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)CNY | — | — | — | — | — | — | — | 100,156,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | — | — | — | — | — | -3,742,000Source | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | -105,129,000Source | -87,376,000Source | -3,742,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | — | — | 55,054,000Source | -6,032,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | — | — | — | — | 55,054,000Source | -6,032,000Source | — |
| Income Tax Expense (Benefit)USD | — | — | — | — | 6,000Source | 78,000Source | — | 3,000Source |
| InterestExpenseNonoperatingUSD | — | — | — | — | 3,867,000Source | 3,720,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | — | — | — | — | -105,129,000Source | — | -71,313,000Source | 115,275,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | — | — | — | — | — | — | -6,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | — | — | -105,129,000Source | -32,322,000Source | -9,774,000Source | — |
| Nonoperating Income (Expense)USD | — | — | — | — | -3,937,000Source | -3,391,000Source | 1,000Source | — |
| Operating Costs and ExpensesUSD | — | — | — | — | — | — | 3,527,000Source | 711,003,000Source |
| Operating ExpensesUSD | — | — | — | — | 102,310,000Source | 85,826,000Source | — | — |
| Other Operating Income (Expense), NetUSD | — | — | — | — | — | — | 409,000Source | -1,140,000Source |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | — | -27,342,000Source | — | — |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | — | — | — | — | 79,533,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 51,309,000Source | 41,092,000Source | — | 91,703,000Source |
| Cost of Goods and Services Sold | —Source | —Source | — | —Source |
| Operating Income (Loss)USD | -101,186,000Source | -83,907,000Source | -3,527,000Source | -34,285,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -105,123,000Source | -87,298,000Source | -3,742,000Source | 115,272,000Source |
| Income Tax Expense (Benefit)USD | 6,000Source | 78,000Source | — | 3,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | — | — | — | -6,000Source |
| Net Income (Loss) Attributable to ParentUSD | -105,129,000Source | — | -71,313,000Source | 115,275,000Source |
| Earnings Per Share, BasicCNY/shares | 0Source | 0Source | 0Source | 0.01Source |
| Earnings Per Share, DilutedCNY/shares | 0Source | 0Source | 0Source | 0.01Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 50,254,250,124Source | 21,007,405,473,671Source | 2,805,073,364,600Source | 10,258,424,457Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 50,254,250,124Source | 21,007,405,473,671Source | 2,805,073,364,600Source | 10,258,424,457Source |
| Interest Expense (non-operating)USD | 3,867,000Source | 3,720,000Source | — | — |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsCNY | — | — | — | 26,397,000Source |
| Costs and ExpensesUSD | — | — | — | 125,988,000Source |
| Current Income Tax Expense (Benefit)CNY | — | — | — | 21,000Source |
| Depreciation, Depletion and Amortization, NonproductionUSD | — | 8,000Source | — | 3,852,000Source |
| Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of TaxUSD | — | 55,360,000Source | — | — |
| Foreign Currency Transaction Gain (Loss), before TaxUSD | -70,000Source | 329,000Source | — | — |
| General and Administrative ExpenseUSD | 4,561,000Source | 2,293,000Source | 3,519,000Source | 8,738,000Source |
| Goodwill, Impairment LossUSD | 96,356,000Source | 81,934,000Source | — | — |
| Gross ProfitUSD | 1,124,000Source | 1,919,000Source | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | — | -3,742,000Source | — |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | -105,129,000Source | -87,376,000Source | -3,742,000Source | — |
| Income (Loss) from Continuing Operations, Per Basic ShareCNY/shares | 0Source | 0Source | 0Source | — |
| Income (Loss) from Continuing Operations, Per Diluted ShareCNY/shares | 0Source | 0Source | 0Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 55,054,000Source | -6,032,000Source | — |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | 55,054,000Source | -6,032,000Source | — |
| Interest ExpenseUSD | — | — | 215,000Source | — |
| Interest Income (Expense), NetUSD | — | — | 4,000Source | — |
| Interest Income (Expense), Nonoperating, NetUSD | — | — | — | -9,403,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -105,129,000Source | -32,322,000Source | -9,774,000Source | — |
| Nonoperating Income (Expense)USD | -3,937,000Source | -3,391,000Source | 1,000Source | — |
| Operating Costs and ExpensesUSD | — | — | 3,527,000Source | 711,003,000Source |
| Operating ExpensesUSD | 102,310,000Source | 85,826,000Source | — | — |
| Other Cost of Operating RevenueCNY | 365,267,000Source | 288,369,000Source | — | 47,000Source |
| Other IncomeUSD | — | — | — | 12,170,000Source |
| Other Operating Income (Expense), NetUSD | — | — | 409,000Source | -1,140,000Source |
| Research and Development ExpenseUSD | — | 3,000Source | — | 393,000Source |
| Revenue from Contract with Customer, Including Assessed TaxUSD | — | — | — | 79,533,000Source |
| Selling and Marketing ExpenseUSD | 1,393,000Source | 1,596,000Source | 3,000Source | 2,000Source |