Reported Earnings • May 01
Full year 2025 earnings released: US$1.35 loss per share (vs US$34.90 loss in FY 2024) Full year 2025 results: US$1.35 loss per share. Revenue: US$24.5m (down 41% from FY 2024). Net loss: US$22.0m (loss widened 258% from FY 2024). New Risk • Apr 07
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 25x increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Market cap is less than US$100m (US$73.6m market cap). New Risk • Dec 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates 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. It also 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. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 82x increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$47.6m market cap). Reported Earnings • Sep 25
First half 2025 earnings released: US$33.08 loss per share (vs US$4.51 profit in 1H 2024) First half 2025 results: US$33.08 loss per share (down from US$4.51 profit in 1H 2024). Revenue: US$14.3m (down 21% from 1H 2024). Net loss: US$9.36m (down US$10.1m from profit in 1H 2024). Reported Earnings • May 01
Full year 2024 earnings released: US$34.90 loss per share (vs US$63.96 profit in FY 2023) Full year 2024 results: US$34.90 loss per share (down from US$63.96 profit in FY 2023). Revenue: US$41.5m (up 4.3% from FY 2023). Net loss: US$6.14m (down 174% from profit in FY 2023). New Risk • Apr 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 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 Share price has been highly volatile over the past 3 months (22% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (352% increase in shares outstanding). Market cap is less than US$10m (US$2.11m market cap). Minor Risk Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Board Change • Apr 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 Robert Bodenstein 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. Announcement • Feb 19
Lichen China Limited Announces Receipt of Nasdaq Delisting Notice Subject to Hearing Request Lichen China Limited announced that it has received a letter from The Nasdaq Stock Market LLC ("Nasdaq"), notifying that the Company is not in compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) (the "Low Priced Stocks Rule"), as the Company's securities had a closing bid price of $0.10 or less for eleven consecutive trading days from January 28, 2025 through February 11, 2025. The letter indicated that, as a result, the Nasdaq staff has determined to delist the Company's ordinary shares from The Nasdaq Capital Market (the "Delisting Determination"). As previously reported, on January 23, 2025, Nasdaq notified the Company that the bid price of its listed securities had closed at less than $1.00 per share over the previous 30 consecutive business days and, as a result, did not comply with Listing Rule 5550(a)(2). The Company was provided 180 calendar days, or until July 22, 2025, to regain compliance with this rule. The Delisting Determination ended the aforementioned compliance period before its expiration because the Company's stock prices have triggered the Low Priced Stocks Rule. The Company was provided until February 19, 2025 to request an appeal of the Delisting Determination to the hearing panel. The Company intends to request such hearing to appeal the Delisting Determination before that date, which will stay the suspension of its securities from the date of the request, during which time such securities will continue to be listed on The Nasdaq Capital Market. If the Company fails to request an appeal of the Delisting Determination by February 19, 2025, trading of the Company's ordinary shares will be suspended at the opening of business on February 21, 2025, 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 The Nasdaq Stock Market. The Company is considering all potential options available to it to regain compliance with the aforementioned rules, including seeking shareholders' approval for a reverse stock split. Announcement • Feb 11
Lichen China Limited (NasdaqCM:LICN) acquired remaining 40% stake in Bondly Enterprises Limited in a transaction valued at $5.3 million. Lichen China Limited (NasdaqCM:LICN) acquired remaining 40% stake in Bondly Enterprises Limited in a transaction valued at $5.3 million on February 10, 2025.
Lichen China Limited (NasdaqCM:LICN) completed the acquisition of remaining 40% stake in Bondly Enterprises Limited in a transaction valued at $5.3 million on February 10, 2025. Announcement • Jan 23
Lichen China Limited, Annual General Meeting, Feb 10, 2025 Lichen China Limited, Annual General Meeting, Feb 10, 2025, at 08:01 China Standard Time. Location: 15th floor, xingang square, hubin north road, siming district, fujian,361013, xiamen China New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 47% 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 (29% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (47% increase in shares outstanding). Market cap is less than US$10m (US$5.45m market cap). Announcement • Dec 31
Lichen China Limited has filed a Follow-on Equity Offering in the amount of $3.1132 million. Lichen China Limited has filed a Follow-on Equity Offering in the amount of $3.1132 million.
Security Name: Class A Ordinary Share
Security Type: Common Stock
Securities Offered: 13,200,000
Price\Range: $0.125
Discount Per Security: $0.00875
Security Name: Pre Funded Warrants
Security Type: Equity Warrant
Securities Offered: 11,800,000
Price\Range: $0.124
Discount Per Security: $0.00868
Transaction Features: Registered Direct Offering Announcement • Dec 28
Lichen China Limited has completed a Follow-on Equity Offering in the amount of $2.790434 million. Lichen China Limited has completed a Follow-on Equity Offering in the amount of $2.790434 million.
Security Name: Class A Ordinary Share
Security Type: Common Stock
Securities Offered: 10,433,333
Price\Range: $0.14
Discount Per Security: $0.0098
Security Name: Pre-Funded Warrants
Security Type: Equity Warrant
Securities Offered: 9,566,667
Price\Range: $0.139
Discount Per Security: $0.00973
Transaction Features: Registered Direct Offering Announcement • Dec 27
Lichen China Limited has filed a Follow-on Equity Offering in the amount of $2.8 million. Lichen China Limited has filed a Follow-on Equity Offering in the amount of $2.8 million.
Security Name: Class A Ordinary Share
Security Type: Common Stock
Securities Offered: 20,000,000
Price\Range: $0.14
Transaction Features: Registered Direct Offering New Risk • Dec 13
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$7.62m 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 Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Market cap is less than US$10m (US$7.62m market cap). Minor Risk Shareholders have been diluted in the past year (47% increase in shares outstanding). Announcement • Dec 13
Lichen China Limited has filed a Follow-on Equity Offering in the amount of $3.761271 million. Lichen China Limited has filed a Follow-on Equity Offering in the amount of $3.761271 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 15,000,000
Price\Range: $0.18
Discount Per Security: $0.0126
Security Name: Pre Funded Warrants
Security Type: Equity Warrant
Securities Offered: 5,928,889
Price\Range: $0.179
Discount Per Security: $0.01253
Transaction Features: Registered Direct Offering New Risk • Dec 06
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 25% 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 Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 1.2% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (47% increase in shares outstanding). Market cap is less than US$100m (US$82.5m market cap). Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$2.05, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 26x in the Professional Services industry in the US. Total returns to shareholders of 35% over the past year. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.88, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 24x in the Professional Services industry in the US. Total returns to shareholders of 33% over the past year. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$2.17, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 27x in the Professional Services industry in the US. Total returns to shareholders of 55% over the past year. Reported Earnings • Sep 27
First half 2024 earnings released: EPS: US$0.026 (vs US$0.053 in 1H 2023) First half 2024 results: EPS: US$0.026 (down from US$0.053 in 1H 2023). Revenue: US$18.1m (up 14% from 1H 2023). Net income: US$767.0k (down 44% from 1H 2023). Profit margin: 4.2% (down from 8.5% in 1H 2023). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Sep 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$1.53, the stock trades at a trailing P/E ratio of 6.9x. Average trailing P/E is 28x in the Professional Services industry in the US. Total returns to shareholders of 107% over the past year. Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$2.35, the stock trades at a trailing P/E ratio of 10.6x. Average trailing P/E is 27x in the Professional Services industry in the US. Total returns to shareholders of 133% over the past year. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$1.71, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 24x in the Professional Services industry in the US. Total returns to shareholders of 37% over the past year. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$1.18, the stock trades at a trailing P/E ratio of 5.3x. Average trailing P/E is 24x in the Professional Services industry in the US. Total loss to shareholders of 31% over the past year. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 67% After last week's 67% share price gain to US$1.50, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 26x in the Professional Services industry in the US. Total loss to shareholders of 38% over the past year. Announcement • May 15
Lichen China Limited has completed a Follow-on Equity Offering in the amount of $7.266 million. Lichen China Limited has completed a Follow-on Equity Offering in the amount of $7.266 million.
Security Name: Class A ordinary shares
Security Type: Common Stock
Securities Offered: 10,380,000
Price\Range: $0.7
Discount Per Security: $0 Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$1.01, the stock trades at a trailing P/E ratio of 3.3x. Average trailing P/E is 26x in the Professional Services industry in the US. Total loss to shareholders of 55% over the past year. New Risk • Apr 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 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 Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. High level of non-cash earnings (65% accrual ratio). Minor Risks Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (US$24.1m market cap). New Risk • Apr 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% This is considered a minor 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 Earnings have declined by 2.8% per year over the past 5 years. High level of non-cash earnings (65% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (16% average weekly change). Shareholders have been diluted in the past year (3.3% increase in shares outstanding). Market cap is less than US$100m (US$29.3m market cap). Reported Earnings • Apr 05
Full year 2023 earnings released: EPS: US$0.32 (vs US$0.35 in FY 2022) Full year 2023 results: EPS: US$0.32. Revenue: US$39.8m (up 18% from FY 2022). Net income: US$8.34m (up 6.7% from FY 2022). Profit margin: 21% (down from 23% in FY 2022). The decrease in margin was driven by higher expenses. Announcement • Mar 26
Lichen China Limited Launches Ai-Powered Software for Financial & Taxation Solutions Lichen China Limited announced the launch of AI-powered software - Lichen AI Robot, which was developed on GPT-based technology. Lichen AI Robot will serve as the Company's virtual financial and tax advisor in the future, providing tailored financial and tax solutions for individuals and enterprises. Built based on national financial and tax regulations, financial journals and papers, institutional documents, and policy interpretations, Lichen AI Robot utilizes GPT's natural language processing capabilities and leverages Lichen's deep expertise in the financial field accumulated over the past twenty years and over ten thousand customer service cases. It can understand and answer various financial and tax related questions. Users can interact with the robot through voice, text, and other communication means. The system can provide personalized solutions and recommendations based on user needs and questions, offering one-stop financial and tax services. Additionally, the Lichen AI Finance and Tax Robot can also be used as a tool for Lichen's consultants, reducing the cost of serving clients and improving the efficiency for the consultants in providing solutions. It is expected to reduce human costs by more than 15% for the Company. Lichen AI Robot has the following key features: Efficient and fast: The system can quickly answer various financial and tax questions, improving user productivity. Accurate and reliable: The system, based on GPT technology, can understand and analyze complex financial and tax issues, providing accurate solutions. Personalized service: The system can provide personalized solutions and recommendations based on user needs and questions. Intelligent learning: The system can continuously learn and improve its answers, enhancing service quality. Announcement • Feb 27
Lichen China Limited Announces Appointment of Robert Bodenstein to Board of Directors Lichen China Limited announced the appointment of Mr. Robert Bodenstein to its board of directors, effective February 26, 2024. Mr. Bodenstein will serve as an independent director as well as a member of the Nominating, Compensation and Audit Committees. Mr. Bodenstein, with over 40 years of experience in the management consulting industry, serves as the Chair of the International Council of Management Consulting Institutes (ICMCI), a global alliance of management consulting institutes, recognized by the United Nations Economic and Social Council (ECOSOC) as a non-governmental organization with special consultative status, as the Chair of the Chamber of Commerce Austria Consulting and Information Division, an organization that covers management consulting, IT, and communication business, and also as the Chair of the committee under the ISO TC 280 (Management Consultancy), which works with member countries in setting up the standard ISO 20700:2017 Management Consulting Services. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$1.39, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 27x in the Professional Services industry in the US. Total loss to shareholders of 45% over the past year. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.38, the stock trades at a trailing P/E ratio of 7.5x. Average trailing P/E is 26x in the Professional Services industry in the US. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$1.75, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 26x in the Professional Services industry in the US. Reported Earnings • Oct 18
First half 2023 earnings released: EPS: US$0.053 (vs US$0.19 in 1H 2022) First half 2023 results: EPS: US$0.053 (down from US$0.19 in 1H 2022). Revenue: US$15.9m (down 1.4% from 1H 2022). Net income: US$1.36m (down 69% from 1H 2022). Profit margin: 8.5% (down from 27% in 1H 2022). The decrease in margin was primarily driven by higher expenses. New Risk • Oct 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 39% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 4.2% per year over the past 5 years. High level of non-cash earnings (39% accrual ratio). Minor Risks Profit margins are more than 30% lower than last year (14% net profit margin). Market cap is less than US$100m (US$35.5m market cap). Valuation Update With 7 Day Price Move • Sep 18
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to US$1.03, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 23x in the Professional Services industry in the US. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$1.16, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 21x in the Professional Services industry in the US. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.44, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 22x in the Professional Services industry in the US. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to US$1.85, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 21x in the Professional Services industry in the US. Reported Earnings • May 04
Full year 2022 earnings released: EPS: US$0.35 (vs US$0.38 in FY 2021) Full year 2022 results: EPS: US$0.35 (down from US$0.38 in FY 2021). Revenue: US$33.8m (down 1.4% from FY 2021). Net income: US$7.82m (down 7.6% from FY 2021). Profit margin: 23% (down from 25% in FY 2021). Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to US$2.95, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 21x in the Professional Services industry in the US. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment improves as stock rises 29% After last week's 29% share price gain to US$2.03, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 18x in the Professional Services industry in the US. Buying Opportunity • Feb 28
Now 25% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$2.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.4% over the last year. Earnings per share has declined by 11%. Announcement • Feb 08
Lichen China Limited has completed an IPO in the amount of $16 million. Lichen China Limited has completed an IPO in the amount of $16 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,000,000
Price\Range: $4
Discount Per Security: $0.28