XChange TEC.INC XHG
Annual
Quarterly
FY2025 · ended Sep 30, 2025 · Revenue $51.31M, +24.9% YoY · Filed Jan 14, 2026
XChange TEC.INC (XHG) files with the SEC under industry code 6411, Insurance Agents, Brokers & Service. In fiscal 2025, which ended Sep 30, 2025, it reported revenue of $51.3 million and a net loss of $105.1 million. As of Sep 30, 2025 it held $1.8 million in cash and investments and $4.6 million in total debt.
Revenue
$51.31M
+24.9% vs prior year
Net income
$-105.13M
-191.2% vs prior year
Operating cash flow
$-1.64M
-17.9% vs prior year
Free cash flow
$-6.53M
+89.1% vs prior year
EPS
$0.00
Dividend per share
None
Shares outstanding
25.88B
+1470.9% vs prior year
Net cash
$-2.85M
FY 2025
Operating margin
-197.2%
FY 2025
Company profile
- Industry
- Insurance Agents, Brokers & Service (SIC 6411)
- Listed as
- XHG (Nasdaq)
- Headquarters
- Xuhui, Shanghai, China
- SEC filer status
- Non-accelerated filer
- SEC CIK
- 1769256
- Former names
- FLJ Group Ltd (until May 24, 2024); Q&K INTERNATIONAL GROUP Ltd (until Sep 14, 2022)
Other Insurance Agents, Brokers & Service companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Sep 30, 2025 |
FY 2024 Sep 30, 2024 |
FY 2022 Sep 30, 2022 |
FY 2021 Sep 30, 2021 |
FY 2020 Sep 30, 2020 |
|---|---|---|---|---|---|
| Revenue | $51.3M | $41.1M | $79.5M | $145.8M | $162.8M |
| Operating income | -$101.2M | -$83.9M | -$34.3M | -$62.0M | -$221.0M |
| Net income | -$105.1M | — | $115.3M | -$88.3M | -$225.9M |
| Diluted EPS | $0.00 | $0.00 | $0.01 | — | — |
| Operating cash flow | -$1.6M | -$1.4M | -$5.6M | -$17.0M | $8.1M |
| Free cash flow | — | — | — | — | -$6.5M |
| Total assets | $9.7M | $111.6M | $13.4M | $58.6M | $125.3M |
| Total liabilities | $133.4M | $190.9M | $94.0M | $444.3M | $419.1M |
| Stockholders' equity | -$123.6M | -$79.3M | -$80.5M | -$387.1M | -$295.2M |
| Cash and investments | $1.8M | $1.4M | $390,000 | $2.5M | $3.4M |
| Total debt | $4.6M | $4.7M | — | $31.2M | $68.5M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 6-K | Current report (foreign issuer) | Jul 16, 2026 | Mar 31, 2026 |
| 6-K | Current report (foreign issuer) | Apr 17, 2026 | Apr 17, 2026 |
| 6-K | Current report (foreign issuer) | Apr 7, 2026 | Apr 7, 2026 |
| 20-F | Annual report (foreign issuer) | Jan 14, 2026 | Sep 30, 2025 |
| 6-K | Current report (foreign issuer) | Sep 3, 2025 | Mar 31, 2025 |
| 6-K | Current report (foreign issuer) | Jun 12, 2025 | Jun 12, 2025 |
All 167 XChange TEC.INC SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.