NASDAQ : WCT
Wellchange Holdings Company Limited — Financial statements
Technology · Software - Application · Hong Kong
Last price 0.3111 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.39M
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Financial statements
Wellchange Holdings Company Limited (WCT) reported revenue of 1.35M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.35M | 1.35M | 2.31M | 2.49M | 1.67M | 671.61K |
| Cost of Revenue | 772.98K | 772.98K | 691.98K | 547.63K | 352.96K | 254.32K |
| Gross Profit | 575.11K | 575.11K | 1.62M | 1.94M | 1.32M | 417.29K |
| Selling, General & Admin | 6.74M | 6.74M | 1.67M | 711.58K | 346.53K | 171.21K |
| Other Operating Expenses | 144.80K | 144.80K | 58.65K | 4.58K | 5.04K | |
| Operating Expenses | 6.90M | 6.90M | 2.07M | 758.93K | 379.19K | 191.76K |
| Operating Income | -6.32M | -6.32M | -456.63K | 1.18M | 938.96K | 225.53K |
| Interest Expense | -12.44K | -12.44K | -17.11K | -17.38K | -14.46K | -12.87K |
| Interest & Investment Income | 792.00 | 792.00 | 2.36K | 1.08K | 346.00 | 3.85K |
| Currency Exchange Gain (Loss) | -11.67K | -11.67K | -30.81K | |||
| Other Non Operating Income (Expenses) | -9.42K | -9.42K | 362.00 | -33.00 | 13.00 | 193.00 |
| EBT Excluding Unusual Items | -6.36M | -6.36M | -501.83K | 1.17M | 924.86K | 216.70K |
| Gain (Loss) on Sale of Investments | -229.00 | -229.00 | -693.00 | -443.00 | ||
| Other Unusual Items | 17.09K | 1.53K | 13.79K | |||
| Pretax Income | -6.36M | -6.36M | -484.74K | 1.17M | 937.96K | 216.26K |
| Income Tax Expense | 965.88K | 965.88K | -53.20K | 231.03K | 157.31K | 44.79K |
| Net Income | -7.32M | -7.32M | -431.54K | 937.61K | 780.65K | 171.47K |
| Net Income to Common | -7.32M | -7.32M | -431.54K | 937.61K | 780.65K | 171.47K |
| Shares Outstanding (Basic) | 309.38K | 309.38K | 81.22K | 80.00K | 80.00K | 80.00K |
| Shares Outstanding (Diluted) | 309.38K | 309.38K | 81.22K | 80.00K | 80.00K | 80.00K |
| EPS (Basic) | -23.67 | -23.67 | -5.31 | 11.72 | 9.76 | 2.14 |
| EPS (Diluted) | -23.67 | -23.67 | -5.31 | 11.72 | 9.76 | 2.14 |
| Free Cash Flow | -6.32M | -6.32M | -316.13K | 796.39K | 1.04M | 315.12K |
| Free Cash Flow Per Share | -20.42 | -20.42 | -3.89 | 9.96 | 13.04 | 3.94 |
| Gross Margin | 42.66% | 42.66% | 70.03% | 78.01% | 78.88% | 62.13% |
| Operating Margin | -469.11% | -469.11% | -19.77% | 47.53% | 56.19% | 33.58% |
| Profit Margin | -543.20% | -543.20% | -18.69% | 37.66% | 46.71% | 25.53% |
| Free Cash Flow Margin | -468.65% | -468.65% | -13.69% | 31.98% | 62.40% | 46.92% |
| EBITDA | -6.28M | -6.28M | -416.07K | 1.22M | 977.61K | 250.09K |
| EBITDA Margin | -18.02% | 49.15% | 58.50% | 37.24% | ||
| D&A For EBITDA | 40.03K | 40.03K | 40.56K | 40.38K | 38.65K | 24.56K |
| EBIT | -6.32M | -6.32M | -456.63K | 1.18M | 938.96K | 225.53K |
| EBIT Margin | -19.77% | 47.53% | 56.19% | 33.58% | ||
| Effective Tax Rate | 19.77% | 16.77% | 20.71% | |||
| Revenue as Reported | 1.35M | 1.35M | 2.31M | 2.49M | 1.67M | 671.61K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.81M | 2.81M | 250.31K | 12.78K | 261.38K | 51.86K |
| Cash & Short-Term Investments | 2.81M | 2.81M | 250.31K | 12.78K | 261.38K | 51.86K |
| Receivables | 805.97K | 805.97K | 452.82K | 720.25K | 45.78K | 143.33K |
| Other Current Assets | 2.15M | 2.15M | 875.82K | 54.92K | 38.88K | 1.07M |
| Total Current Assets | 5.76M | 5.76M | 1.58M | 787.95K | 346.03K | 1.26M |
| Property, Plant & Equipment | 137.13K | 137.13K | 238.08K | 195.37K | 334.35K | 80.38K |
| Long-Term Investments | 5.60K | 5.60K | 6.03K | 5.82K | 5.48K | 6.19K |
| Other Intangible Assets | 7.42M | 7.42M | 4.22M | 1.50M | 1.21M | 76.26K |
| Long-Term Deferred Tax Assets | 54.16K | 24.58K | ||||
| Long-Term Deferred Charges | 620.19K | 680.09K | 334.00K | |||
| Other Long-Term Assets | 290.62K | 290.62K | 32.07K | 128.00K | 31.48K | 6.38K |
| Total Assets | 13.62M | 13.62M | 6.70M | 3.30M | 2.31M | 1.46M |
| Accrued Expenses | 262.74K | 262.74K | 231.68K | 251.67K | 33.58K | 47.02K |
| Short-Term Debt | 415.95K | 415.95K | 433.99K | 496.52K | 894.47K | 520.09K |
| Current Portion of Leases | 57.65K | 57.65K | 90.20K | 84.88K | 99.33K | 11.59K |
| Current Income Taxes Payable | 52.30K | 52.30K | 128.98K | 128.28K | ||
| Current Unearned Revenue | 144.70K | 144.70K | 354.13K | 84.43K | 191.05K | 132.78K |
| Other Current Liabilities | 322.43K | 322.43K | 273.77K | 10.41K | 3.06K | 706.24K |
| Total Current Liabilities | 1.26M | 1.26M | 1.51M | 1.06M | 1.22M | 1.42M |
| Long-Term Leases | 49.33K | 49.33K | 77.52K | 84.88K | ||
| Long-Term Deferred Tax Liabilities | 1.16M | 1.16M | 192.33K | 244.42K | 195.35K | 8.05K |
| Total Liabilities | 2.47M | 2.47M | 1.78M | 1.30M | 1.50M | 1.43M |
| Common Stock | 7.66K | 7.66K | 1.06K | 1.00K | 1.00K | 1.00K |
| Additional Paid-In Capital | 17.15M | 17.15M | 3.58M | 244.46K | 244.46K | 244.46K |
| Retained Earnings | -6.13M | -6.13M | 1.19M | 1.62M | 682.72K | -97.93K |
| Comprehensive Income & Other | 124.01K | 124.01K | 138.92K | 131.10K | -116.21K | -117.94K |
| Shareholders' Equity | 11.15M | 11.15M | 4.91M | 2.00M | 811.97K | 29.60K |
| Total Liabilities & Equity | 13.62M | 13.62M | 6.70M | 3.30M | 2.31M | 1.46M |
| Total Debt | 522.92K | 522.92K | 601.71K | 581.40K | 1.08M | 531.68K |
| Net Cash (Debt) | 2.29M | 2.29M | -345.37K | -562.80K | -811.82K | -473.62K |
| Net Cash Per Share | 7.40 | 7.40 | -4.25 | -7.03 | -10.15 | -5.92 |
| Filing Date Shares Outstanding | 613.06K | 613.06K | 185.06K | 80.00K | 80.00K | 80.00K |
| Total Common Shares Outstanding | 613.06K | 613.06K | 85.06K | 80.00K | 80.00K | 80.00K |
| Working Capital | 4.51M | 4.51M | 66.21K | -268.23K | -875.45K | -156.14K |
| Book Value Per Share | 18.19 | 18.19 | 57.76 | 24.96 | 10.15 | 0.37 |
| Tangible Book Value | 3.73M | 3.73M | 692.73K | 496.63K | -396.21K | -46.66K |
| Tangible Book Value Per Share | 6.08 | 6.08 | 8.14 | 6.21 | -4.95 | -0.58 |
| Machinery | 59.11K | 59.11K | 59.11K | 58.79K | 57.97K | 53.34K |
| Leasehold Improvements | 115.64K | 115.64K | 115.64K | 115.01K | 115.01K | 40.99K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -7.32M | -7.32M | -431.54K | 937.61K | 780.65K | 171.47K |
| Depreciation & Amortization | 40.03K | 40.03K | 40.56K | 40.38K | 38.65K | 24.56K |
| Other Amortization | 635.32K | 635.32K | 260.00K | 146.40K | 56.89K | 9.56K |
| Loss (Gain) From Sale of Investments | 229.00 | 229.00 | -532.00 | -337.00 | 693.00 | 223.00 |
| Stock-Based Compensation | 1.09M | 1.09M | ||||
| Provision & Write-off of Bad Debts | -18.20K | -18.20K | 311.54K | 13.86K | ||
| Change in Accounts Receivable | -334.94K | -334.94K | -44.12K | -688.33K | 96.99K | 63.69K |
| Change in Unearned Revenue | -209.37K | -209.37K | 269.49K | -106.62K | 58.53K | 60.77K |
| Change in Income Taxes | -76.68K | -76.68K | 128.28K | |||
| Change in Other Net Operating Assets | -1.09M | -1.09M | -669.09K | 222.94K | -21.37K | 25.32K |
| Operating Cash Flow | -6.32M | -6.32M | -316.13K | 797.21K | 1.17M | 400.38K |
| Capital Expenditures | -818.00 | -125.53K | -85.25K | |||
| Sale (Purchase) of Intangibles | -4.12M | -4.12M | -2.83M | -565.87K | -1.19M | |
| Investment in Securities | -6.42K | |||||
| Investing Cash Flow | -4.12M | -4.12M | -2.83M | -566.69K | -1.31M | -91.67K |
| Short-Term Debt Issued | 2.53K | 1.20M | ||||
| Total Debt Issued | 2.53K | 1.20M | ||||
| Short-Term Debt Repaid | -17.34K | -17.34K | -64.97K | -397.92K | -336.24K | -349.41K |
| Total Debt Repaid | -17.34K | -17.34K | -64.97K | -397.92K | -336.24K | -349.41K |
| Net Debt Issued (Repaid) | -17.34K | -17.34K | -64.97K | -397.92K | -333.71K | 845.61K |
| Issuance of Common Stock | 12.34M | 12.34M | 4.02M | 243.77K | ||
| Other Financing Activities | 679.47K | 679.47K | -560.70K | -325.63K | 688.04K | -1.21M |
| Financing Cash Flow | 13.01M | 13.01M | 3.39M | -479.77K | 354.32K | -359.62K |
| Foreign Exchange Rate Adjustments | -15.28K | -15.28K | -8.24K | 667.00 | 1.48K | 141.00 |
| Net Cash Flow | 2.56M | 2.56M | 237.53K | -248.59K | 209.51K | -50.77K |
| Free Cash Flow | -6.32M | -6.32M | -316.13K | 796.39K | 1.04M | 315.12K |
| Free Cash Flow Margin | -468.65% | -468.65% | -13.69% | 31.98% | 62.40% | 46.92% |
| Free Cash Flow Per Share | -20.42 | -20.42 | -3.89 | 9.96 | 13.04 | 3.94 |
| Levered Free Cash Flow | -8.15M | -8.15M | -2.87M | -94.53K | -174.60K | |
| Unlevered Free Cash Flow | -8.14M | -8.14M | -2.86M | -83.67K | -165.56K | |
| Cash Interest Paid | 12.44K | 12.44K | 17.11K | 17.38K | 14.46K | 12.87K |
| Change in Working Capital | -737.73K | -737.73K | -496.15K | -340.72K | 291.49K | 194.57K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.27M | 24.52M | 20.42M | |||
| Enterprise Value | 984.83K | 24.98M | 20.92M | |||
| Last Close Price | 0.30 | 40.00 | 240.03 | |||
| PS Ratio | 2.43 | 18.19 | 8.84 | |||
| PB Ratio | 0.02 | 2.20 | 4.16 | |||
| P/TBV Ratio | 0.88 | 6.58 | 29.47 | |||
| EV/Sales Ratio | 0.73 | 18.53 | 9.06 | |||
| Debt / Equity Ratio | 0.05 | 0.05 | 0.12 | 0.29 | 1.33 | 17.96 |
| Debt / EBITDA Ratio | 0.44 | 1.04 | 1.93 | |||
| Debt / FCF Ratio | 0.73 | 1.03 | 1.69 | |||
| Net Debt / Equity Ratio | -0.20 | -0.20 | 0.07 | 0.28 | 1.00 | 16.00 |
| Net Debt / EBITDA Ratio | 0.36 | 0.36 | -0.83 | 0.46 | 0.83 | 1.89 |
| Net Debt / FCF Ratio | 0.36 | 0.36 | -1.09 | 0.71 | 0.78 | 1.50 |
| Asset Turnover | 0.13 | 0.13 | 0.46 | 0.89 | 0.89 | |
| Quick Ratio | 2.88 | 2.88 | 0.47 | 0.69 | 0.25 | 0.14 |
| Current Ratio | 4.59 | 4.59 | 1.04 | 0.75 | 0.28 | 0.89 |
| Return on Equity (ROE) | -91.17% | -91.17% | -12.49% | 66.76% | 185.52% | |
| Return on Assets (ROA) | -38.91% | -38.91% | -5.71% | 26.36% | 31.14% | |
| Return on Invested Capital (ROIC) | -71.31% | -89.49% | -11.66% | 45.27% | 73.08% | 35.10% |
| Return on Capital Employed (ROCE) | -51.20% | -51.20% | -8.80% | 52.80% | 86.00% | 599.10% |
| Earnings Yield | -7,887.19% | -29.86% | -2.11% | |||
| FCF Yield | -193.03% | -25.76% | -1.55% | |||
| Buyback Yield / Dilution | -280.92% | -280.92% | -1.52% |