Reported Earnings • Jul 20
First half 2026 earnings released: CN¥0.35 loss per share (vs CN¥660 loss in 1H 2025) First half 2026 results: CN¥0.35 loss per share (improved from CN¥660 loss in 1H 2025). Revenue: CN¥197.8m (up 13% from 1H 2025). Net loss: CN¥17.9m (loss narrowed 97% from 1H 2025). New Risk • Jul 17
New major risk - Revenue and earnings growth Earnings have declined by 2.3% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CN¥880m). Earnings have declined by 2.3% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$43.8m market cap). Ankündigung • Apr 17
XChange TEC.INC has filed a Follow-on Equity Offering in the amount of $100 million. XChange TEC.INC has filed a Follow-on Equity Offering in the amount of $100 million.
Security Name: American Depositary Shares
Security Type: Depositary Receipt (Common Stock) New Risk • Mar 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥12m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Negative equity (-CN¥880m). Shareholders have been substantially diluted in the past year (over 49x increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$40.0m market cap). Ankündigung • Jan 16
XChange TEC.INC Auditor Raises 'Going Concern' Doubt XChange TEC.INC filed its 20-F on Jan 14, 2026 for the period ending Sep 30, 2025. In this report its auditor, Audit OneStop Assurance PAC, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Reported Earnings • Jan 15
Full year 2025 earnings released: CN¥35.74 loss per share (vs CN¥6,177 loss in FY 2024) Full year 2025 results: CN¥35.74 loss per share. Revenue: CN¥365.3m (up 27% from FY 2024). Net loss: CN¥748.4m (loss widened 22% from FY 2024). New Risk • Aug 10
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Negative equity (-CN¥557m). Shareholders have been substantially diluted in the past year (over 182x increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$62.2m market cap). New Risk • Apr 09
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$6.17m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥9.8m free cash flow). Share price has been highly volatile over the past 3 months (31% average weekly change). Negative equity (-CN¥557m). Shareholders have been substantially diluted in the past year (over 85x increase in shares outstanding). Market cap is less than US$10m (US$6.17m market cap). Board Change • Feb 02
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Nini Qiao is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Jan 24
XChange TEC.INC Auditor Raises 'Going Concern' Doubt XChange TEC.INC filed its Annual on Jan 22, 2025 for the period ending Sep 30, 2024. In this report its auditor, Audit OneStop Assurance PAC, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Ankündigung • Nov 30
XChange TEC.INC Regains Compliance with Nasdaq's Minimum Bid Price Requirement XChange TEC.INC announced that it has received a notice (the ‘Compliance Notice’) from The Nasdaq Stock Market LLC (‘Nasdaq’) dated November 26, 2024 stating that the Company has regained compliance with the requirement to maintain a minimum bid price of $1 per share as set under Nasdaq Listing Rule 5550(a)(2) (the ‘Bid Price Rule’) for continued listing on The Nasdaq Capital Market. As previously announced by the Company, on November 8, 2024, the Company received a notice from Nasdaq stating that the Company was not in compliance with the Bid Price Rule. With the receipt of the Compliance Notice from Nasdaq on November 26, 2024, the Company is now in compliance with The Nasdaq Capital Market's listing requirements, and the Company's American Depositary Shares will continue to be listed and traded on Nasdaq. Ankündigung • Nov 16
XChange TEC Receives Nasdaq Minimum Market Value Deficiency Notice XChange TEC.INC (the ‘Company’) announced that it has received a notice (the ‘Notice’) from The Nasdaq Stock Market LLC (‘Nasdaq’) dated November 13, 2024 stating that the Company is not in compliance with the requirement to maintain a minimum Market Value of Listed Securities (‘MVLS’) of $35 million as set forth under Nasdaq Listing Rule for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(b)(2) requires companies to maintain a minimum MVLS of $35 million (the ‘MVLS Requirement’), and Nasdaq Listing Rule 5810(c)(3)(C) specifies that a deficiency occurs if the MVLS falls below this threshold for 30 consecutive business days. Based on the Company's MVLS for the 30 consecutive business days from October 2, 2024, to November 12, 2024, the Company no longer meets this requirement. The Notice further states that the Company also does not meet the alternative requirements under Nasdaq Listing Rules 5550(b)(1) and 5550(b)(3). Pursuant to Nasdaq Listing Rule 5810(c)(3)(C), the Company has a 180-calendar-day compliance period, which expires on May 12, 2025. If, during this period, the Company's MVLS closes at or above $35 million for at least 10 consecutive business days, Nasdaq will notify the Company of its compliance, and the matter will be closed. If the Company is unable to regain compliance with the applicable Nasdaq Listing Rules by the end of the compliance period, it will receive a written notice that its securities are subject to delisting. The Notice has no immediate effect on the listing of the Company's securities and the Company's securities continue to trade on Nasdaq. The Company intends to take appropriate actions within the specified period to regain compliance. However, there can be no assurance that the Company will be able to regain compliance under the MVLS Requirement and other applicable Nasdaq Listing Rules. Board Change • Nov 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Director Nini Qiao is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Sep 26
XChange TEC.INC has filed a Follow-on Equity Offering. XChange TEC.INC has filed a Follow-on Equity Offering.
Security Name: American Depositary Shares
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 250,000,000 Ankündigung • Aug 16
XChange TEC.INC Receives Nasdaq Notification of Regaining Listing Compliance XChange TEC.INC (the ‘Company’) announced that it received two letters, dated August 12 and 14, 2024, respectively, from The Nasdaq Stock Market (‘Nasdaq’) notifying the Company that it had regained compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5450(a)(1) for continued listing on The Nasdaq Global Market (the ‘Bid Price Rule’). As previously announced by the Company via a press release on April 9, 2024, the Company received a notice from Nasdaq dated April 3, 2024, stating that the Company was not in compliance with the Bid Price Rule. However, Nasdaq Listing Rule 5810(c)(3)(A) provides the Company a compliance period of 180 calendar days, during which if the closing bid price of the Company's American Depositary Shares (‘ADSs’) is at least $1.00 per ADS for a minimum of ten consecutive business days, Nasdaq would provide a written confirmation of compliance. On August 12, 2024, in connection with its previous request of appeal of the delisting determination by Nasdaq, the Company received a letter from the Nasdaq Office of General Counsel notifying the Company that the Company had regained compliance with the Bid Price Rule and was allowed to continue the listing of the Company's securities on Nasdaq. On August 14, 2024, the Company received another letter from Nasdaq's listing qualifications department, which also notified that the Company had regained compliance with the Bid Price Rule, because for the last 28 consecutive business days, from July 5 to August 13, 2024, the closing bid price of the Company's ADSs had been at $1.00 per ADS or greater. New Risk • Jul 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Over 22x increase in shares outstanding. This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (70% average weekly change). Negative equity (-CN¥643m). Shareholders have been substantially diluted in the past year (over 22x increase in shares outstanding). Revenue is less than US$1m. Board Change • Jul 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Guofu Wu was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 18
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 64% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥40m free cash flow). Share price has been highly volatile over the past 3 months (64% average weekly change). Negative equity (-CN¥643m). Revenue is less than US$1m. Market cap is less than US$10m (US$2.27m market cap). Ankündigung • May 03
FLJ Group Limited Receives Nasdaq Determination Letter on Compliance Plan FLJ Group Limited announced that it has received a letter dated April 25, 2024 (the "Determination Letter") from the listing qualifications department staff (the "Staff") of The Nasdaq Stock Market ("Nasdaq"), notifying that Nasdaq determined to deny the Company's request for continued listing on The Nasdaq Global Market, and further determined that the Company did not provide a definitive plan evidencing its ability to achieve near term compliance with the continued listing requirements or sustain such compliance over an extended period of time. As previously announced by the Company via a press release on February 21, 2024, the Company received a letter on February 20, 2024 from Nasdaq, notifying that the Company no longer complies with the requirement of $50 million in total assets and total revenue for the most recently completed fiscal year or two of the last three most recently completed fiscal years, as set in Nasdaq Listing Rule 5450(b)(3)(A) (the "A&R Standard") and does not comply with an alternative requirement of Nasdaq Listing Rule 5450(b). In accordance with Nasdaq Listing Rules, the Company had 45 calendar days, or until April 5, 2024 to submit a plan to regain compliance with the A&R Standard or an alternative requirement of Nasdaq Listing Rule 5450(b). On April 5, 2024, the Company submitted to Nasdaq a compliance plan (the "Compliance Plan"). On April 25, 2024, the Company received the Determination Letter from Nasdaq, notifying that based on the Staff's review of the Compliance Plan, Nasdaq determined to deny the Company's request for continued listing on The Nasdaq Global Market, and further determined that the Company did not provide a definitive plan evidencing its ability to achieve near term compliance with the continued listing requirements or sustain such compliance over an extended period of time (the "Determination"). Unless the Company requests an appeal of the Determination by May 2, 2024, trading of the Company's American Depositary Shares will be suspended at the opening of business on May 6, 2024, and a Form 25-NSE will be filed with the Securities and Exchange Commission, which will remove the Company's securities from listing and registration on Nasdaq. On May 1, 2024, the Company submitted to Nasdaq a request of appeal of the Determination to a Hearings Panel (the "Panel") pursuant to the procedures set in the Nasdaq Listing Rule 5800 Series, which will stay the suspension of the Company's securities and the filing of the Form 25-NSE pending the Panel's decision. There can be no assurance as to the decision of the Panel. Board Change • May 01
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Zhenkun Wang was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Ankündigung • Apr 13
FLJ Group Limited, Annual General Meeting, May 30, 2024 FLJ Group Limited, Annual General Meeting, May 30, 2024, at 08:00 China Standard Time. Location: Honor Guest Meeting Room of Hampton by Hilton Taizhou Taixing, 1 Wenchang Middle Rd, Taixing, Taizhou China Agenda: To receive and consider the report of the directors of the Company for the fiscal year ended September 30, 2023 containing the complete audited financial statements and the report of the auditors of the Company for the fiscal year ended September 30, 2023; to consider that subject to and conditional upon the approval of the Registrar of Companies in the Cayman Islands by way of issuing a certificate of incorporation on change of name, the name of the Company be changed from “FLJ Group Limited” to “XChange TEC.INC” with effect from the date of the certificate of incorporation on change of name issued by the Registrar of Companies of the Cayman Islands; and to consider other matters. Ankündigung • Apr 11
FLJ Group Receives Nasdaq Minimum Bid Price Deficiency Notice FLJ Group Limited announced that it has received a notice from the Nasdaq Stock Market LLC ("Nasdaq") dated April 3, 2024 stating that the Company is not in compliance with the requirement to maintain a minimum bid price of $1 per share as set forth under Nasdaq Listing Rule 5450(a)(1) for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based upon the closing bid price of the Company's American Depositary Shares ("ADSs") for the last 30 consecutive business days, the Company no longer meets this requirement. However, Nasdaq Listing Rule 5810(c)(3)(A) also provides the Company a compliance period of 180 calendar days in which to regain compliance. If at any time during the 180-day period, or until September 30, 2024, the closing bid price of the Company's ADSs is at least $1 per ADS for a minimum of ten consecutive business days, Nasdaq will provide a written confirmation of compliance and this matter will be closed. The Company intends to monitor the closing bid price of its ADSs and may, if appropriate, consider implementing available options, including, but not limited to, implementing a reverse share split of its outstanding ADSs, to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The Nasdaq notice has no immediate effect on the Company's listing or on the trading of the Company's ADSs. Ankündigung • Jan 31
FLJ Group Limited announced delayed 20-F filing On 01/30/2024, FLJ Group Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Ankündigung • Dec 30
FLJ Group Limited (NasdaqGM:FLJ) completed the acquisition of Alpha Mind Technology Limited from MMTec, Inc. (NasdaqCM:MTC) and Burgeon Capital Inc for $180 million. FLJ Group Limited (NasdaqGM:FLJ) entered into an agreement to acquire Alpha Mind Technology Limited from MMTec, Inc. (NasdaqCM:MTC) and Burgeon Capital Inc for $180 million on November 22, 2023.At Closing, the Company shall deliver to each of the Sellers a promissory not in an aggregate amount equal to the purchase price. The Notes have a maturity of 90 days from the closing date, and will be secured by all of the issued and outstanding equity of the Target Company and all of the assets of the Target Company and its subsidiaries. If there is any Leakage, the Purchase Price should be adjusted downwards on a dollar for-dollar basis The Payment of Purchase Price to MMTEC, Inc. includes, a promissory note, in a form reasonably acceptable to MMTEC, in an amount equal to the product of: (i)(x) the Purchase Price, minus (y) the amount of Leakage (if any), multiplied by (ii) 85%, and to Burgeon Capital Inc, a promissory note, in a form reasonably acceptable to Burgeon Capital, in an amount equal to the product of (i)(x) the Purchase Price, minus (y) the amount of Leakage (if any), multiplied by (ii) 15%.In year 2022, Alpha Minds revenue amounted to $47.4 million, respectively. Upon the closing of the Acquisition, Alpha Mind will become a wholly-owned subsidiary of the Company. The Purchase Agreement contains representations, warranties, covenants and closing conditions of each of the parties thereto that are customary for transactions of this type. Under the Purchase Agreement, the closing of the transaction must occur within two business days after the closing conditions have been satisfied; provided, that if the closing does not occur within 120 days following the date of the Purchase Agreement, then either party can terminate the Purchase Agreement. In connection with the Transaction, (i) all requisite filings or registrations to be made by FLJ Group Limited have been made; and (ii) all requisite governmental authorizations to be obtained by FLJ Group Limited have been obtained on terms and conditions reasonably satisfactory to MMTec, Inc (NasdaqCM:MTC) and Burgeon Capital Inc.
FLJ Group Limited (NasdaqGM:FLJ) completed the acquisition of Alpha Mind Technology Limited from MMTec, Inc. (NasdaqCM:MTC) and Burgeon Capital Inc for $180 million on December 28, 2023. FLJ Group Limited paid in the form of a promissory note (collectively, the “Notes”) delivered to each of the Sellers in an aggregate amount equal to the purchase price. The Notes have a maturity of 90 days from the closing date, bear an interest rate of three percent (3%) per annum, and are secured by all of the issued and outstanding equity of the Target Company and all of the assets of the Target Company and its subsidiaries. Ankündigung • Dec 23
FLJ Group Limited Announces Appointment of Directors FLJ Group Limited announced that (i) Ms. Yanan Zhou has been appointed as a director of the Company, effective December 22, 2023; and (ii) Ms. Yue Hu has been appointed as a director of the Company, effective December 22, 2023. Ms. Zhou has served as executive director of investment banking division of Gujia (Beijing) Technology Co. Ltd. since November 2020. Ms. Zhou was a senior financial product manager and CEO assistant at a FinTechcompany named JianLC from 2018 to 2020. From November 2015 to December 2017, Ms. Zhou worked as a manager of FinTech division in Hfax.com. Prior to that, Ms. Zhou was the senior project manager of financial business division in Horizon Research Group from May 2012 to November 2015. Ms. Zhou received a bachelor’s degree in journalism in 2008 and a master’s degree in communication studies in 2011 from Hohai University, respectively. Ms. Zhou also obtained the securities qualification and fund qualification. Ms. Hu has served as the senior finance manager in Gujia (Beijing) Technology Co. Ltd. since 2022. Prior to that, Ms. Hu was a junior auditor and a senior auditor at Ernst & Young Hua Ming LLP from 2018 to 2020 and from 2020 to 2022, respectively. Ms. Hu received her bachelor’s degree at accounting from Sichuan University and master’s degree at accounting from the University of Texas at Dallas in 2014 and in 2017, respectively. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 3,911% After last week's 3,911% share price gain to US$4.56, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 24x in the Real Estate industry in the US. Total loss to shareholders of 79% over the past three years. Ankündigung • Nov 24
FLJ Group Limited (NasdaqGM:FLJ) entered into an agreement to acquire Alpha Mind Technology Limited from MMTec, Inc. (NasdaqCM:MTC) and Burgeon Capital Inc for $180 million. FLJ Group Limited (NasdaqGM:FLJ) entered into an agreement to acquire Alpha Mind Technology Limited from MMTec, Inc. (NasdaqCM:MTC) and Burgeon Capital Inc for $180 million on November 22, 2023.At Closing, the Company shall deliver to each of the Sellers a promissory not in an aggregate amount equal to the purchase price. The Notes have a maturity of 90 days from the closing date, and will be secured by all of the issued and outstanding equity of the Target Company and all of the assets of the Target Company and its subsidiaries. If there is any Leakage, the Purchase Price should be adjusted downwards on a dollar for-dollar basis The Payment of Purchase Price to MMTEC, Inc. includes, a promissory note, in a form reasonably acceptable to MMTEC, in an amount equal to the product of: (i)(x) the Purchase Price, minus (y) the amount of Leakage (if any), multiplied by (ii) 85%, and to Burgeon Capital Inc, a promissory note, in a form reasonably acceptable to Burgeon Capital, in an amount equal to the product of (i)(x) the Purchase Price, minus (y) the amount of Leakage (if any), multiplied by (ii) 15%.In year 2022, Alpha Minds revenue amounted to $47.4 million, respectively. Upon the closing of the Acquisition, Alpha Mind will become a wholly-owned subsidiary of the Company. The Purchase Agreement contains representations, warranties, covenants and closing conditions of each of the parties thereto that are customary for transactions of this type. Under the Purchase Agreement, the closing of the transaction must occur within two business days after the closing conditions have been satisfied; provided, that if the closing does not occur within 120 days following the date of the Purchase Agreement, then either party can terminate the Purchase Agreement. In connection with the Transaction, (i) all requisite filings or registrations to be made by FLJ Group Limited have been made; and (ii) all requisite governmental authorizations to be obtained by FLJ Group Limited have been obtained on terms and conditions reasonably satisfactory to MMTec, Inc (NasdaqCM:MTC) and Burgeon Capital Inc. Ankündigung • Nov 02
Wangxiancai Limited completed the acquisition of Haoju (Shanghai) Artificial Intelligence Technology Co., Ltd. from FLJ Group Limited (NasdaqGM:FLJ). Wangxiancai Limited signed an equity transfer agreement to acquire Haoju (Shanghai) Artificial Intelligence Technology Co., Ltd. from FLJ Group Limited (NasdaqGM:FLJ) on October 31, 2023. The deal has been approved by board of directors of FLJ Group Limited.
Wangxiancai Limited completed the acquisition of Haoju (Shanghai) Artificial Intelligence Technology Co., Ltd. from FLJ Group Limited (NasdaqGM:FLJ) on October 31, 2023. Ankündigung • Aug 11
FLJ Group Limited, Annual General Meeting, Sep 18, 2023 FLJ Group Limited, Annual General Meeting, Sep 18, 2023, at 09:30 China Standard Time. Location: 4th Meeting Room, Marriott Nantong China Agenda: To receive and consider the report of the directors of the Company for the fiscal year ended September 30, 2022 containing the complete audited financial statements and the report of the auditors of the Company for the fiscal year ended September 30, 2022; and to transact other business. Reported Earnings • Aug 04
First half 2023 earnings released: CN¥0.23 loss per share (vs CN¥21.11 loss in 1H 2022) First half 2023 results: CN¥0.23 loss per share (improved from CN¥21.11 loss in 1H 2022). Revenue: CN¥199.7m (down 45% from 1H 2022). Net loss: CN¥43.3m (loss narrowed 82% from 1H 2022). New Risk • Jul 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-CN¥573m). Minor Risks Latest financial reports are more than 6 months old (reported September 2022 fiscal period end). Large one-off items impacting financial results. Shareholders have been diluted in the past year (9.7% increase in shares outstanding). Market cap is less than US$100m (US$41.1m market cap). Ankündigung • Jul 01
FLJ Group Limited Announces Board and Audit Committee Changes FLJ Group Limited announced that Mr. Lin Zhou has resigned as an independent director and a member of the audit committee of the company, effective June 30, 2023. Mr. Zhou resigned for personal reasons and has no disagreement with the Company. The company has appointed Mr. Zhenkun Wang as an independent director and a member of the audit committee of the company, effective June 30, 2023. Mr. Wang is the founder and CEO of Shanghai Shiwei Technology Co. Ltd., a company mainly focused on project and product development in enterprise-level metaverse applications, and has been serving as the chairman of its board since January 2015. Mr. Wang received his bachelor’s degree from Shanghai University of Finance and Economics in 2004. Ankündigung • Jun 29
FLJ Group Receives NASDAQ Notification Regarding Minimum Bid Price Deficiency FLJ Group Limited announced that it has received a written notification from the Nasdaq Stock Market LLC dated June 27, 2023 indicating that the Company is not in compliance with the minimum bid price requirement set in the Nasdaq Rules for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(a)(1) requires companies to maintain a minimum bid price of $1 per share, and Listing Rule 5810(c)(3)(A) provides that a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the bid price of the Company for the 30 consecutive business days May 12 through June 26, 2023, the Company no longer meets the minimum bid price requirement. This notification does not impact the listing and trading of the Company’s securities at this time. Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days (or until December 26, 2023) to regain compliance. If at any time during this 180 day period the closing bid price of the Company’s security is at least $1 for a minimum of ten consecutive business days, Nasdaq will provide the Company written confirmation of compliance and this matter will be closed. In the event the Company does not regain compliance with Rule 5450(a)(1) prior to the expiration of the compliance period, the Company may be eligible for additional time to regain compliance or may face delisting. The Company's business operations are not affected by the receipt of the Notification Letter. Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to US$1.84, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 12x in the Real Estate industry in the US. Total loss to shareholders of 97% over the past three years. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 38% After last week's 38% share price decline to US$1.64, the stock trades at a trailing P/E ratio of 2.3x. Average trailing P/E is 12x in the Real Estate industry in the US. Total loss to shareholders of 97% over the past three years. Reported Earnings • Jan 24
Full year 2022 earnings released: EPS: CN¥11.99 (vs CN¥58.45 loss in FY 2021) Full year 2022 results: EPS: CN¥11.99 (up from CN¥58.45 loss in FY 2021). Revenue: CN¥652.3m (down 37% from FY 2021). Net income: CN¥820.0m (up CN¥1.39b from FY 2021). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Director Lin Zhou was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 14
First half 2022 earnings released: CN¥21.11 loss per share (vs CN¥34.17 loss in 1H 2021) First half 2022 results: CN¥21.11 loss per share (up from CN¥34.17 loss in 1H 2021). Revenue: CN¥364.2m (down 41% from 1H 2021). Net loss: CN¥243.2m (loss narrowed 21% from 1H 2021). Ankündigung • Aug 04
Q&K International Group Limited, Annual General Meeting, Sep 13, 2022 Q&K International Group Limited, Annual General Meeting, Sep 13, 2022, at 07:30 China Standard Time. Location: 2nd Meeting Room, Intercontinental Hotel Resorts Nantong 508 South Yuelong Road, Nantong, China Nantong China Agenda: o receive and consider the report of the directors of the Company for the fiscal year ended September 30, 2021 containing the complete audited financial statements and the report of the auditors of the Company for the fiscal year ended September 30, 2021; to discuss the approval of the Registrar of Companies in the Cayman Islands by way of issuing a certificate of incorporation on change of name, the name of the Company be changed from “Q&K INTERNATIONAL GROUP LIMITED” to “FLJ Group Limited” with effect from the date of the certificate of incorporation on change of name issued by the Registrar of Companies of the Cayman Islands; and to consider other matters. Ankündigung • May 12
Q&K International Group Receives NASDAQ Notification Regarding Minimum Market Value of Publicly Held Shares Deficiency Q&K International Group Limited announced that it has received a written notification (the "Notification Letter") from the Nasdaq Stock Market LLC (“Nasdaq”) dated May 9, 2022 indicating that the company is not in compliance with the minimum Market Value of Publicly Held Shares (“MVPHS”) set forth in the Nasdaq Rules for continued listing on the Nasdaq Global Market. Nasdaq Listing Rule 5450(b)(3)(C) requires companies to maintain a minimum MVPHS of USD 15 million, and Listing Rule 5810(c)(3)(D) provides that a failure to meet the MVPHS requirement exists if the deficiency continues for a period of 30 consecutive business days. Based on the MVPHS of the Company for the 30 consecutive business days from March 25, 2022 to May 6, 2022, the Company no longer meets the MVPHS minimum requirement. This notification does not impact the listing and trading of the Company’s securities at this time. Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company has a compliance period of 180 calendar days (or until November 7, 2022) to regain compliance. If at any time during this compliance period the Company’s MVPHS closes at USD 15 million or more for a minimum of ten consecutive business days, Nasdaq will notify the Company that it has achieved compliance with the MVPHS requirement, and the MVPHS matter will be closed. In the event the Company does not regain compliance with Rule 5450(b)(3)(C) prior to the expiration of the compliance period, it will receive written notification that its securities are subject to delisting. Alternatively, the Company may consider applying to transfer its securities to the Nasdaq Capital Market. The Company's business operations are not affected by the receipt of the Notification Letter. Board Change • Apr 28
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. 2 independent directors (4 non-independent directors). CTO & Director Gang Xie is the most experienced director on the board, commencing their role in 2012. Independent Director Lin Zhou was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Ankündigung • Mar 01
Q&K International Group Limited Announces Management Changes Q&K International Group Limited announced that Mr. Chen Chen, an independent director of the Company, has been appointed as a member of the nominating and corporate governance committee of the board of directors of the Company, effective February 28, 2022, Mr. Jiamin Chen, current general manager of the investment and financing department of the Company, has been appointed as a director and Vice President of the Company, effective February 28, 2022, and Mr. Zongquan Yang, current head of product management department and senior manager of IT center of the Company, has been appointed as a director of the Company, effective February 28, 2022. Mr. Jiamin Chen (“Mr. Chen”) joined the Company in July 2019 and has been serving as general manager of the investment and financing department since then. From 2006 to 2019, Mr. Chen was a manager of the personal credit department at Shanghai Branch of China Construction Bank. Mr. Zongquan Yang (“Mr. Yang”) has been serving as head of product management department and senior manager of IT center since May 2017. From 2009 to 2017, Mr. Yang was a project manager of E-Commerce Business and manager of research and development department at Yonyou Software Co. Ltd. Prior to that, Mr. Yang was a development engineer and project manager of Shanghai Hengju Network Technology Co. from 2005 to 2009 and a development engineer at Shanghai Youfu Computer Network Co. Ltd. in 2005. The Company also announced that Mr. Lin Lin has resigned as a director of the Company, effective March 1, 2022. Mr. Lin resigned for personal reasons and has no disagreement with the Company. Ankündigung • Jan 30
Q&K International Group Limited announced delayed 20-F filing On 01/28/2022, Q&K International Group Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Reported Earnings • Jul 31
First half 2021 earnings released: CN¥6.83 loss per share (vs CN¥10.19 loss in 1H 2020) The company reported a decent first half result with reduced losses and improved control over expenses, although revenues were weaker. First half 2021 results: Revenue: CN¥615.2m (down 1.9% from 1H 2020). Net loss: CN¥308.0m (loss narrowed 26% from 1H 2020). Executive Departure • May 04
Director has left the company On the 22nd of April, Bing Xiao's tenure in the role of Director ended. We don't have any record of a personal shareholding under Bing's name. A total of 7 executives have left over the last 12 months. Ankündigung • Jan 31
Q&K International Group Limited announced delayed 20-F filing On 01/29/2021, Q&K International Group Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Executive Departure • Jan 30
Director has left the company On the 28th of January, Kaiyu Yao's tenure in the role of Director ended. We don't have any record of a personal shareholding under Kaiyu's name. A total of 7 executives have left over the last 12 months. Executive Departure • Jan 30
Director has left the company On the 28th of January, Wing Cheung Law's tenure in the role of Director ended. We don't have any record of a personal shareholding under Wing Cheung's name. A total of 7 executives have left over the last 12 months. Executive Departure • Jan 30
Founder, Chairman, CEO & Compliance Officer Guangjie Jin has left the company On the 28th of January, Guangjie Jin's tenure as Founder, Chairman, CEO & Compliance Officer of the company ended. We don't have any record of a personal shareholding under Guangjie's name. A total of 7 executives have left over the last 12 months. Is New 90 Day High Low • Jan 21
New 90-day low: US$2.36 The company is down 44% from its price of US$4.20 on 22 October 2020. The American market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 10.0% over the same period. Is New 90 Day High Low • Dec 23
New 90-day low: US$3.22 The company is down 49% from its price of US$6.35 on 23 September 2020. The American market is up 18% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 36% over the same period. Is New 90 Day High Low • Nov 06
New 90-day low: US$3.54 The company is down 64% from its price of US$9.92 on 07 August 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 19% over the same period. Is New 90 Day High Low • Oct 22
New 90-day low: US$4.45 The company is down 51% from its price of US$9.15 on 24 July 2020. The American market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 15% over the same period. Reported Earnings • Oct 02
First half earnings released Over the last 12 months the company has reported total losses of CN¥807.9m, with losses widening by 11% from the prior year. Total revenue was CN¥1.27b over the last 12 months, up 16% from the prior year. Is New 90 Day High Low • Sep 29
New 90-day low: US$6.15 The company is down 42% from its price of US$10.65 on 01 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 7.0% over the same period. Ankündigung • Sep 25
Q&K International Group Limited to Report Q2, 2020 Results on Sep 30, 2020 Q&K International Group Limited announced that they will report Q2, 2020 results on Sep 30, 2020 Ankündigung • Sep 08
Highlander Partners, L.P. acquired an unknown stake in Q&K International Group Limited (NasdaqGM:QK). Highlander Partners, L.P. acquired an unknown stake in Q&K International Group Limited (NasdaqGM:QK) in March 2019.
Highlander Partners, L.P. completed the acquisition of an unknown stake in Q&K International Group Limited (NasdaqGM:QK) in March 2019.