NASDAQ : LZMH
LZ Technology Holdings Limited — Financial statements
Technology · Information Technology Services · China
Last price 0.7901 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.09M
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Financial statements
LZ Technology Holdings Limited (LZMH) reported revenue of 1.13B CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.13B | 1.13B | 822.83M | 568.87M | 162.95M | 81.05M |
| Cost of Revenue | 1.09B | 1.09B | 788.39M | 537.61M | 143.10M | 70.03M |
| Gross Profit | 37.25M | 37.25M | 34.44M | 31.26M | 19.85M | 11.02M |
| Selling, General & Admin | 156.97M | 156.97M | 26.35M | 32.22M | 34.91M | 18.93M |
| Research & Development | 56.29M | 56.29M | 4.46M | 5.48M | 6.93M | 6.41M |
| Operating Expenses | 213.26M | 213.26M | 30.82M | 37.70M | 41.84M | 25.34M |
| Operating Income | -176.01M | -176.01M | 3.63M | -6.44M | -21.98M | -14.32M |
| Interest Expense | -1.29M | -1.29M | -764.00K | -408.00K | -18.00K | -34.77M |
| Other Non Operating Income (Expenses) | 4.88M | 4.88M | 2.38M | 3.55M | 2.41M | 641.00K |
| EBT Excluding Unusual Items | -172.42M | -172.42M | 5.24M | -3.30M | -19.59M | -48.45M |
| Gain (Loss) on Sale of Investments | 475.00K | |||||
| Gain (Loss) on Sale of Assets | -343.00K | -343.00K | -435.00K | -704.00K | 4.32M | |
| Pretax Income | -172.76M | -172.76M | 4.80M | -4.00M | -14.80M | -48.45M |
| Income Tax Expense | 510.00K | 510.00K | -972.00K | 2.37M | 8.00K | |
| Earnings From Continuing Operations | -173.27M | -173.27M | 5.78M | -6.37M | -14.80M | -48.46M |
| Minority Interest in Earnings | -201.00K | -201.00K | -234.00K | 163.00K | 1.15M | 3.40M |
| Net Income | -173.47M | -173.47M | 5.54M | -6.21M | -13.64M | -45.06M |
| Net Income to Common | -173.47M | -173.47M | 5.54M | -6.21M | -13.64M | -45.06M |
| Shares Outstanding (Basic) | 7.71M | 7.71M | 7.40M | 7.18M | 6.63M | 11.51M |
| Shares Outstanding (Diluted) | 7.71M | 7.71M | 7.40M | 7.18M | 6.63M | 11.51M |
| EPS (Basic) | -22.51 | -22.51 | 0.75 | -0.86 | -2.06 | -3.91 |
| EPS (Diluted) | -22.51 | -22.51 | 0.75 | -0.86 | -2.06 | -3.91 |
| Free Cash Flow | -41.78M | -41.78M | 4.32M | -16.95M | 1.02M | -72.85M |
| Free Cash Flow Per Share | -5.42 | -5.42 | 0.58 | -2.36 | 0.15 | -6.33 |
| Gross Margin | 3.30% | 3.30% | 4.19% | 5.49% | 12.18% | 13.60% |
| Operating Margin | -15.59% | -15.59% | 0.44% | -1.13% | -13.49% | -17.67% |
| Profit Margin | -15.37% | -15.37% | 0.67% | -1.09% | -8.37% | -55.60% |
| Free Cash Flow Margin | -3.70% | -3.70% | 0.53% | -2.98% | 0.62% | -89.89% |
| EBITDA | -166.92M | -166.92M | 12.39M | 3.69M | -12.25M | -10.22M |
| EBITDA Margin | -14.79% | -14.79% | 1.51% | 0.65% | -7.52% | -12.62% |
| D&A For EBITDA | 9.09M | 9.09M | 8.77M | 10.13M | 9.74M | 4.10M |
| EBIT | -176.01M | -176.01M | 3.63M | -6.44M | -21.98M | -14.32M |
| EBIT Margin | -15.59% | -15.59% | 0.44% | -1.13% | -13.49% | -17.67% |
| Revenue as Reported | 1.13B | 1.13B | 822.83M | 568.87M | 162.95M |
Balance sheet
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 23.47M | 23.47M | 4.15M | 10.78M | 6.98M | 5.13M |
| Short-Term Investments | 981.00K | 981.00K | 106.00K | 217.00K | 296.00K | 200.00K |
| Cash & Short-Term Investments | 24.45M | 24.45M | 4.26M | 10.99M | 7.28M | 5.33M |
| Accounts Receivable | 252.59M | 252.59M | 223.93M | 191.34M | 44.73M | 33.15M |
| Other Receivables | 6.18M | 6.18M | 8.10M | -536.00K | 1.88M | 989.00K |
| Receivables | 301.81M | 301.81M | 257.76M | 218.61M | 70.27M | 79.16M |
| Inventory | 3.20M | 3.20M | ||||
| Prepaid Expenses | 2.27M | 2.27M | 1.50M | 3.81M | 543.00K | 1.93M |
| Other Current Assets | 38.33M | 38.33M | 14.64M | 21.10M | 5.59M | 10.55M |
| Total Current Assets | 370.06M | 370.06M | 278.16M | 254.51M | 83.67M | 96.97M |
| Property, Plant & Equipment | 12.19M | 12.19M | 19.19M | 24.44M | 34.22M | 42.22M |
| Long-Term Investments | 5.00M | 5.00M | 1.28M | |||
| Goodwill | 1.66M | 1.66M | ||||
| Other Intangible Assets | 1.19M | 1.19M | 2.13M | 3.08M | 4.03M | |
| Long-Term Deferred Charges | 6.12M | 4.10M | 554.00K | |||
| Total Assets | 390.09M | 390.09M | 305.61M | 286.14M | 122.47M | 140.47M |
| Accounts Payable | 206.23M | 206.23M | 182.26M | 163.10M | 35.55M | 17.62M |
| Accrued Expenses | 21.35M | 21.35M | 15.79M | 13.61M | 4.01M | 4.24M |
| Short-Term Debt | 59.11M | 59.11M | 31.85M | 32.10M | 67.12M | 139.78M |
| Current Portion of Leases | 1.15M | 1.15M | 457.00K | 252.00K | ||
| Current Unearned Revenue | 39.24M | 39.24M | 940.00K | 4.58M | 445.00K | 508.00K |
| Other Current Liabilities | 3.16M | 3.16M | 3.35M | 8.78M | 465.00K | 7.27M |
| Total Current Liabilities | 330.24M | 330.24M | 234.65M | 222.17M | 107.60M | 169.68M |
| Long-Term Debt | 667.00K | |||||
| Long-Term Leases | 2.25M | 2.25M | 2.23M | 109.00K | ||
| Long-Term Deferred Tax Liabilities | 170.00K | 170.00K | 626.00K | 2.30M | ||
| Other Long-Term Liabilities | 105.00K | |||||
| Total Liabilities | 332.66M | 332.66M | 238.17M | 224.47M | 107.60M | 169.89M |
| Common Stock | 28.00K | 28.00K | 27.00K | 26.00K | 43.00K | 40.00K |
| Additional Paid-In Capital | 377.70M | 377.70M | 220.28M | 218.28M | 168.14M | 112.37M |
| Retained Earnings | -328.69M | -328.69M | -155.22M | -160.76M | -154.27M | -139.93M |
| Comprehensive Income & Other | -390.00K | -390.00K | ||||
| Total Common Equity | 48.65M | 48.65M | 65.10M | 57.55M | 13.92M | -27.51M |
| Minority Interest | 8.78M | 8.78M | 2.34M | 4.11M | 958.00K | -1.91M |
| Shareholders' Equity | 57.44M | 57.44M | 67.44M | 61.67M | 14.88M | -29.42M |
| Total Liabilities & Equity | 390.09M | 390.09M | 305.61M | 286.14M | 122.47M | 140.47M |
| Total Debt | 62.51M | 62.51M | 35.20M | 32.10M | 67.12M | 140.14M |
| Net Cash (Debt) | -38.05M | -38.05M | -30.95M | -21.11M | -59.84M | -134.81M |
| Net Cash Per Share | -4.94 | -4.94 | -4.18 | -2.94 | -9.02 | -11.71 |
| Filing Date Shares Outstanding | 7.90M | 7.90M | 7.50M | 13.20M | 12.77M | 11.51M |
| Total Common Shares Outstanding | 7.90M | 7.90M | 7.50M | 12.77M | 12.41M | 11.51M |
| Working Capital | 39.83M | 39.83M | 43.51M | 32.34M | -23.93M | -72.70M |
| Book Value Per Share | 6.16 | 6.16 | 8.68 | 4.51 | 1.12 | -2.39 |
| Tangible Book Value | 45.81M | 45.81M | 62.96M | 54.47M | 9.89M | -27.51M |
| Tangible Book Value Per Share | 5.80 | 5.80 | 8.40 | 4.26 | 0.80 | -2.39 |
| Machinery | 40.69M | 40.69M | 46.22M | 48.66M | 50.42M | 49.02M |
| Leasehold Improvements | 1.34M | 1.34M | 1.34M |
Cash flow statement
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -173.47M | -173.47M | 5.54M | -6.21M | -13.64M | -45.06M |
| Depreciation & Amortization | 9.81M | 9.81M | 8.77M | 10.13M | 10.01M | 4.22M |
| Loss (Gain) From Sale of Assets | 343.00K | 343.00K | 435.00K | 704.00K | -4.32M | |
| Loss (Gain) From Sale of Investments | -448.00K | 180.00K | ||||
| Stock-Based Compensation | 111.11M | 111.11M | ||||
| Provision & Write-off of Bad Debts | 13.65M | 13.65M | 1.06M | 678.00K | 527.00K | |
| Other Operating Activities | -466.00K | -466.00K | -1.50M | 2.14M | -1.15M | -3.40M |
| Change in Accounts Receivable | -28.96M | -28.96M | -33.32M | -147.17M | -11.60M | -28.08M |
| Change in Inventory | -28.47M | -28.47M | 5.39M | -14.22M | 2.59M | -1.86M |
| Change in Accounts Payable | 14.81M | 14.81M | 18.78M | 127.78M | 17.90M | 16.94M |
| Change in Unearned Revenue | 35.66M | 35.66M | -3.64M | 4.13M | -62.00K | -151.00K |
| Change in Other Net Operating Assets | 4.78M | 4.78M | 3.14M | 5.19M | 3.22M | 11.21M |
| Operating Cash Flow | -41.20M | -41.20M | 4.67M | -16.84M | 2.49M | -45.48M |
| Capital Expenditures | -580.00K | -580.00K | -347.00K | -111.00K | -1.47M | -27.38M |
| Cash Acquisitions | -105.00K | -105.00K | ||||
| Divestitures | 158.00K | -1.33M | ||||
| Sale (Purchase) of Intangibles | -4.74M | |||||
| Investment in Securities | -5.00M | -5.00M | 1.72M | 992.00K | ||
| Other Investing Activities | -19.87M | -19.87M | -1.07M | -25.02M | 20.14M | -26.89M |
| Investing Cash Flow | -25.55M | -25.55M | -1.42M | -23.25M | 13.59M | -54.27M |
| Short-Term Debt Issued | 1.75M | 1.75M | 4.68M | 22.89M | 18.87M | 143.93M |
| Long-Term Debt Issued | 40.00M | 40.00M | 23.48M | 14.00M | 9.00M | |
| Total Debt Issued | 41.75M | 41.75M | 28.15M | 36.89M | 27.87M | 143.93M |
| Short-Term Debt Repaid | -1.85M | -1.85M | -14.87M | -23.03M | -62.70M | -51.77M |
| Long-Term Debt Repaid | -10.77M | -10.77M | -21.14M | -14.14M | ||
| Total Debt Repaid | -12.62M | -12.62M | -36.01M | -37.17M | -62.70M | -51.77M |
| Net Debt Issued (Repaid) | 29.13M | 29.13M | -7.86M | -281.00K | -34.83M | 92.15M |
| Issuance of Common Stock | 60.24M | 60.24M | 47.71M | 21.26M | 9.73M | |
| Other Financing Activities | -2.91M | -2.91M | -2.02M | -3.55M | -659.00K | -170.00K |
| Financing Cash Flow | 86.47M | 86.47M | -9.87M | 43.88M | -14.22M | 101.72M |
| Foreign Exchange Rate Adjustments | -390.00K | -390.00K | ||||
| Net Cash Flow | 19.32M | 19.32M | -6.63M | 3.79M | 1.85M | 1.97M |
| Free Cash Flow | -41.78M | -41.78M | 4.32M | -16.95M | 1.02M | -72.85M |
| Free Cash Flow Margin | -3.70% | -3.70% | 0.53% | -2.98% | 0.62% | -89.89% |
| Free Cash Flow Per Share | -5.42 | -5.42 | 0.58 | -2.36 | 0.15 | -6.33 |
| Levered Free Cash Flow | 5.45M | 5.45M | -7.90M | -11.79M | 16.12M | |
| Unlevered Free Cash Flow | 6.26M | 6.26M | -7.42M | -11.54M | 16.13M | |
| Cash Interest Paid | 934.00K | 934.00K | 718.00K | 340.00K | 57.00K | 780.00K |
| Cash Income Tax Paid | 496.00K | 496.00K | 227.00K | 19.00K | ||
| Change in Working Capital | -2.17M | -2.17M | -9.64M | -24.29M | 12.04M | -1.94M |
Ratios
Fiscal year January - December; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.14M | 252.44M | ||||
| Enterprise Value | 12.58M | 254.58M | ||||
| Last Close Price | 0.81 | 33.20 | ||||
| PS Ratio | 0.04 | 1.56 | ||||
| PB Ratio | 0.92 | 30.74 | ||||
| P/TBV Ratio | 1.06 | 38.54 | ||||
| EV/Sales Ratio | 0.08 | 1.58 | ||||
| Debt / Equity Ratio | 1.09 | 1.09 | 0.52 | 0.52 | 4.51 | -4.76 |
| Debt / EBITDA Ratio | 2.78 | 8.69 | ||||
| Debt / FCF Ratio | 8.14 | 66.00 | ||||
| Net Debt / Equity Ratio | 0.66 | 0.66 | 0.46 | 0.34 | 4.02 | -4.58 |
| Net Debt / EBITDA Ratio | -0.23 | -0.23 | 2.50 | 5.72 | -4.89 | -13.18 |
| Net Debt / FCF Ratio | -0.91 | -0.91 | 7.16 | -1.25 | 58.84 | -1.85 |
| Asset Turnover | 3.25 | 3.25 | 2.78 | 2.78 | 1.24 | |
| Quick Ratio | 0.86 | 0.86 | 1.01 | 0.91 | 0.50 | 0.23 |
| Current Ratio | 1.12 | 1.12 | 1.19 | 1.15 | 0.78 | 0.57 |
| Return on Equity (ROE) | -277.51% | -277.51% | 8.95% | -16.65% | ||
| Return on Assets (ROA) | -31.62% | -31.62% | 0.77% | -1.97% | -10.45% | |
| Return on Capital Employed (ROCE) | -294.10% | -294.10% | 5.10% | -10.10% | -147.80% | 49.00% |
| Earnings Yield | -404.88% | -9.83% | ||||
| FCF Yield | -90.24% | -2.37% | ||||
| Buyback Yield / Dilution | -4.09% | -4.09% | -3.13% | -8.24% | 42.39% |