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MARKETS / BALCAO / SLAIY
BALCAO · FINANCE SERVICES · SMALL CAP

Solai Ltd. SLAIY

15 fiscal years on record · USD · FY2025 reported · SEC filings only
$23.0M
▼ 30.1% YoY
$-33.9M
▼ 380.6% YoY
$-27.1M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

We began operations in the online lottery service industry in 2001 through one of our consolidated affiliated entities, E-Sun Network Co., Ltd., or E-Sun Network, in Shenzhen, China. Our company was incorporated under the laws of the Cayman Islands on April 20, 2007 under the name Fine Success Limited, which was changed to 500wan.com on May 9, 2011, changed to 500.com on October 8, 2013 and further changed to the current name SOLAI Limited in April 2021. We operate cryptocurrency mining machines for the sole purpose of mining cryptocurrencies (primarily Bitcoin, Litecoin and Dogecoin). As of the date of this annual report, the total hash rate capacity of our online Bitcoin mining machines is approximately 269.6 PH/s. For the year ended December 31, 2025, we produced 30.6 Bitcoins from our Bitcoin cryptocurrency mining operations, and recognized revenue of approximately US$3.1 million.

Written from the business description in SOLAI Ltd's annual report to the U.S. Securities and Exchange Commission, filed 20 April 2026. Every sentence was checked against that document before publication.

Growth
USD 23.0M
Revenue, FY2025 · full 15-year series below
Revenue CNY M Net income CNY M
FY2018 · Revenue 126.1 · Net income -451.7
200M400M-200M-400M20112013201520172019202120232025
Compound annual growth
−26.1%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−150 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -150.9% · Net -149.9%
-2000%-4000%20112013201520172019202120232025
ROE
FY2025 · ROE -74.4%
10%20%-50%-100%20112013201520172019202120232025
Three returns, three denominators.
Gross margin-46.9%
Operating margin-150.9%
Net margin-149.9%
EBITDAUSD -22.4M

Each USD of equity lost 74 cents this year.

Cash & shareholders
·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -27.1
80M160M-100M-200M20112013201520172019202120232025
Net buybacks $M Dividends $M
FY2016 · Dividends · · Net buybacks 118.5
80M160M2012201320152016

Total assetsUSD 45.6M
EquityUSD 34.2M
CashUSD 1.4M
Current ratio1.76×

Equity funds 75% of total assets.

The 15-year record
15 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011
Revenue CNY B·······0.10.00.00.10.60.30.20.2
Operating income CNY B·······−0.3−0.3−0.4−0.30.10.10.00.0
EBITDA $B−0.00.0−0.0−0.1−0.0−0.0−0.1−0.3−0.3−0.4−0.30.20.10.00.0
Income tax CNY B·······−0.0−0.00.00.00.0−0.10.00.0
Net income CNY B·······−0.5−0.3−0.2−0.30.20.10.00.0
Free cash flow $B−0.0−0.0−0.0−0.1−0.1−0.0−0.0−0.2−0.3−0.10.00.20.00.10.1
EPS, diluted $−0.020.01−0.03−0.18−0.10−0.07−0.22········
Dividend / sh $···············
Payout %············183··
ROE %−74.429.4−73.4−133.4−51.6··−35.8−20.3−11.7−22.516.326.311.818.2
Shares out B·············0.23·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 9 failures in 56 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 10 checks were skipped: the balance sheet is not tagged before 2012. Four checks were skipped: EPS is not tagged before 2011. Four checks were skipped: revenue is not tagged before 2011.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency9 failures
ActivityFinance Services
Listed onOTC market
Incorporated innot stated in the filings
Fiscal year endsnot stated in the filings
Data on record since2011

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