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NASDAQ · SERVICES-BUSINESS SERVICES, NEC · SMALL CAP

Token Cat Ltd. TC

10 fiscal years on record · CNY · FY2025 reported · SEC filings only
CNY 5.9M
▼ 88.0% YoY
CNY 2.3M

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

In brief

What this company does

As of the date of this Annual Report, we operate only an automobile electronics resale business that we launched in the last quarter of 2025. Our automotive electronics resale business focuses on sourcing, holding, and reselling automotive electronics products. Our continuing advertising business currently consists primarily of proxy advertising services, through which we help clients promote their brands, services and products on third-party online platforms rather than through the legacy marketing businesses that were disposed of in the 2025 Dispositions. We are planning to launch the MCN Platform, which has not yet been launched as of the date of this annual report.

Written from the business description in Token Cat Limited's annual report to the U.S. Securities and Exchange Commission, filed 8 May 2026. Every sentence was checked against that document before publication.

Growth

CNY 5.9M
Revenue, FY2025 · full 10-year series below
Revenue CNY M Net income CNY M
FY2025 · Revenue 5.9 · Net income 2.3
250.0M500.0M-100.0M-200.0M
2016201920222025
Compound annual growth
−68.1%
−55.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −55.3% a year over the five years to FY2025.

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

38 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating -582.3% · Net 38.3%
-200%-400%
201620202025
ROE
FY2023 · ROE -147.8%
-50%-100%
201620202025
Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.
Return on capital employedNot applicable: capital employed was zero or negative in this period, so return on capital employed has no meaning.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow CNY M
FY2024 · FCF -34.7
-100M-200M
201620202025
Net buybacks CNY M Dividends CNY M
FY2019 · Dividends · · Net buybacks 13.7
5M10M
2019

Total assetsCNY 172.9M
CashCNY 976,000.00
Gross debtCNY 6.2M
Net debtCNY 5.2M
Current ratio10.66×

Net debt stands at 4% of equity.

The 10-year record

10 fiscal years
Every figure from documents filed with the SEC · CNY

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—not applicable◌not available in our data
TC, 10-year financial record
Metric 2025202420232022202120202019201820172016
Revenue CNY B0.00.00.20.20.40.30.60.70.30.1
Operating income CNY B−0.0−0.0−0.0−0.1−0.1−0.2−0.3−0.1−0.1−0.1
EBITDA CNY B◌◌◌−0.1−0.1−0.2−0.3−0.1−0.1◌
Income tax CNY B◌◌0.0−0.00.0−0.00.00.00.00.0
Net income CNY B0.0−0.2−0.1−0.2−0.1−0.2−0.3−0.1−0.1−0.1
Free cash flow CNY B◌−0.0◌−0.1−0.1−0.1−0.2−0.1−0.1−0.1
EPS, diluted CNY ◌−0.36−0.20−0.52−0.33−0.54−0.85◌◌◌
Dividend / sh CNY ◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend——————————
ROE %——−147.8−115.9−42.3−45.9−49.0———

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 3 failures in 44 reconciliationsAUDITED

Reconciled in 7 of the 10 fiscal years we could check. 20 checks were skipped: the balance sheet is not tagged before 2017. 12 checks were skipped: EPS is not tagged before 2019. Nine checks were skipped: revenue is not tagged before 2016.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency3 failures
ActivityServices-Business Services, NEC
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsDecember 31
Data on record since2016

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