TCNasdaqServices-Business Services, NECFiscal year ends December 31

Token Cat Ltd

Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on May 8, 2026

$1.40−0.07 (-4.76%)

Close on Oct 19, 2026

Token Cat Ltd income statement

Millions of CNY, except per-share data. Shares in millions.

Line item	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31	FY 2020 2020-12-31	FY 2019 2019-12-31	FY 2018 2018-12-31	FY 2017 2017-12-31	FY 2016 2016-12-31
Revenue	5.92	49	162	183	358	330	645	651	281	117
Cost of Revenue	5.75	16	69	71	85	89	187	183	86	18
Gross Profit	0.17	34	93	113	272	241	458	468	195	100
Research & Development	–	12	11	20	36	34	43	19	16	20
Selling, General & Admin	–	92	182	192	347	378	676	516	251	161
Selling & Marketing	–	54	157	128	275	280	572	432	223	137
General & Administrative	35	38	25	65	73	99	104	84	27	24
Advertising Expenses	–	17	99	58	140	157	291	238	134	61
Operating Expenses	35	38	25	232	383	413	719	536	267	181
Operating Income	-34	-38	-25	-119	-111	-171	-261	-68	-72	-81
Income from Equity Investments	49	0.53	0.18	0.03	–	–	–	–	–	–
Other Non-Operating Income	–	0.37	0.50	5.69	8.87	3.50	5.30	-0.47	0.05	-0.23
Asset Impairment Charges	–	46	1.52	16	0	0	0	–	–	–
Gain (Loss) on Investments	–	–	–	0.03	–	–	–	–	–	–
Gain (Loss) on Sale of Assets	49	–	–	-0.22	-0.43	-0.05	0.01	0.00	–	0.02
Pretax Income	43	-94	-3.16	-172	-102	-165	-251	-75	-76	-82
Income Tax Expense	–	–	0	-5.45	0	-1.03	0	0	0	0
Income from Continuing Operations	43	-94	-3.16	–	–	-163	-251	-75	-76	-82
Income from Discontinued Operations	-40	-94	-80	–	–	0	0	-3.61	-15	-5.06
Net Income incl. Noncontrolling Interests	2.27	-188	-83	-166	–	-164	-251	-79	91	–
Net Income	2.27	-188	-83	-166	-102	-163	-251	-79	-91	-87
Net Income to Common	2.27	-188	-83	-166	-102	-163	-251	-114	-112	-103
EPS (Basic)(per share)	–	-0.36	-0.20	-0.52	-0.33	-0.54	-0.85	–	–	–
EPS (Diluted)(per share)	–	-0.36	-0.20	-0.52	-0.33	-0.54	-0.85	–	–	–
Shares Outstanding (Basic, Weighted)(shares)	569	520	407	320	307	304	295	122	95	89
Shares Outstanding (Diluted, Weighted)(shares)	569	520	407	320	307	304	295	122	95	89
EBITDA	–	–	–	–	–	–	–	-67	-71	–

Italic numbers are calculated by StockData (for example Q4 = full year − nine months). Per-share data and share counts are adjusted for stock splits. Hover a number for its source; click it to open the filing on SEC.gov. Click a row to chart it.

Ratios

Latest available, balances at Dec 31, 2025

Profitability, FY2025

Gross margin: 2.8%
Operating margin: -582.3%
Net margin: 38.3%
Return on equity, FY2025: –

Financial strength

Current ratio: 10.66
Debt to equity: –
Debt to assets: –
Cash to current liabilities: 6.2%

Valuation

P/E ratio: –
Price to sales: –
Price to book: –
Dividend yield: –

Valuation ratios need the share price and fill in once daily prices are connected.