$HTT

High Templar Tech Ltd

CIK:0001692705|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	12 Months Ended
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Revenues:
Total revenues	¥ 40,963,626	$ 5,857,721	¥ 216,428,374	¥ 126,338,353
Cost of revenues:
Cost of goods sold	(7,737,150)	(1,106,398)	(1,018,512)	(27,716,207)
Cost of delivery services income and other revenues	(30,307,449)	(4,333,908)	(200,004,561)	(132,397,662)
Total cost of revenues	(38,044,599)	(5,440,306)	(201,023,073)	(160,113,869)
Operating expenses:
Sales and marketing	(8,063,980)	(1,153,134)	(5,868,172)	(3,796,273)
General and administrative	(291,503,527)	(41,684,450)	(276,564,752)	(273,588,744)
Research and development	(45,733,544)	(6,539,810)	(58,464,333)	(47,763,109)
(Provision for)/Reversal of expected credit losses on receivables and other assets	(2,121,648)	(303,392)	18,615,779	(24,653,548)
Impairment loss from other assets	(54,276,250)	(7,761,401)	(1,570,020)	(5,799,642)
Total operating expenses	(401,698,949)	(57,442,187)	(323,851,498)	(355,601,316)
Other operating income	377,474	53,978	298,363	58,368,285
Loss from operations	(398,402,448)	(56,970,794)	(308,147,834)	(331,008,547)
Interest and investment income, net	990,368,590	141,620,825	380,062,136	255,332,621
Gain/(loss) from equity method investments	(18,937,550)	(2,708,034)	(4,048,792)	3,207,384
Gain on derivative instruments	188,710,582	26,985,254	19,457,360	153,834,938
Foreign exchange (loss)/gain, net	(46,304,828)	(6,621,502)	20,658,172	(2,931,704)
Other income	26,019,373	3,720,721	61,351,231	29,004,500
Other expenses	(2,151,744)	(307,695)	(11,795,255)	(5,965,137)
Net income before income taxes	739,301,975	105,718,775	157,537,018	101,474,055
Income tax expenses	(30,674,579)	(4,386,405)	(65,805,623)	(62,340,516)
Net income	708,627,396	101,332,370	91,731,395	39,133,539
Other comprehensive income
Foreign currency translation adjustment	(68,932,636)	(9,857,236)	37,882,398	21,829,283
Total comprehensive income	¥ 639,694,760	$ 91,475,134	¥ 129,613,793	¥ 60,962,822
Class A and Class B ordinary shares
Earnings per share for Class A and Class B ordinary shares:
Basic (in dollars per share) \| (per share)	¥ 4.37	$ 0.63	¥ 0.5	¥ 0.18
Diluted (in dollars per share) \| (per share)	¥ 4.25	$ 0.61	¥ 0.49	¥ 0.18
Weighted average number of Class A and Class B ordinary shares outstanding:
Basic (in shares)	162,123,417	162,123,417	182,859,075	217,281,512
Diluted (in shares)	166,905,308	166,905,308	187,780,699	222,222,858
American Depositary Shares
Earnings per share for Class A and Class B ordinary shares:
Basic (in dollars per share) \| (per share)	¥ 4.37	$ 0.63	¥ 0.5	¥ 0.18
Diluted (in dollars per share) \| (per share)	¥ 4.25	$ 0.61	¥ 0.49	¥ 0.18
Weighted average number of Class A and Class B ordinary shares outstanding:
Basic (in shares)	98,630,000	98,630,000	119,370,000	153,790,000
Diluted (in shares)	103,420,000	103,420,000	124,290,000	158,730,000
Delivery service income
Revenues:
Revenues	¥ 23,972,162	$ 3,427,974	¥ 203,744,767	¥ 95,291,863
Sales income and others
Revenues:
Revenues	¥ 16,991,464	$ 2,429,747	¥ 12,683,607	¥ 31,046,490

CONSOLIDATED STATEMENTS OF CASH FLOWS	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities:
Net income	¥ 708,627,396	$ 101,332,370	¥ 91,731,395	¥ 39,133,539
Adjustments to reconcile net income to net cash provided by/ (used in) operating activities:
Provision for/ (Reversal of) expected credit loss for receivables and other assets	2,121,648	303,392	(18,615,779)	24,653,548
Impairment loss from other assets	54,276,250	7,761,401	1,570,020	5,799,642
Depreciation and amortization	50,698,734	7,249,823	22,506,444	13,915,526
Amortization of right-of-use assets	16,120,422	2,305,190	32,958,949	27,357,349
Loss on disposal of property and equipment	982,761	140,533	690,098	2,568,274
Share-based compensation expense			2,257,795	4,935,782
Losses/(Income) from equity method investments	18,937,550	2,708,034	4,048,792	(3,207,384)
Unrealized investment income of short-term investments and structured deposits	(66,880,381)	(9,563,767)	(128,094,346)	(13,304,022)
Investment losses of long-term investments	6,218,420	889,222	131,604,073	13,502,789
Investment income of derivative instruments	(188,710,582)	(26,985,254)	(19,457,360)	(153,834,938)
Foreign exchange loss/(gain), net	46,304,828	6,621,502	(20,658,172)	2,931,704
Changes in operating assets and liabilities:
Accounts receivables	29,198,954	4,175,395	(8,468,158)	(26,082,307)
Deferred tax assets and liabilities				(2,117,892)
Other current and non-current assets	31,168,387	4,457,020	(47,282,039)	395,362,790
Operating lease liabilities	(13,668,558)	(1,954,578)	(30,645,878)	(25,839,863)
Other current and non-current liabilities	(8,337,623)	(1,192,265)	(125,146,062)	46,245,024
Net cash provided by/(used in) operating activities	687,058,206	98,248,018	(111,000,228)	352,019,561
Cash flows from investing activities:
Proceeds from redemption of short-term investments and time and structured deposits	14,556,046,559	2,081,486,974	10,556,981,319	22,690,772,623
Proceeds from redemption of long-term investments			1,132,210	15,861,577
Principal collection of secured lending	45,899,180	6,563,495	236,539,876	11,775,050
Principal collection of finance lease receivables				5,953,915
Payments to originate secured lending			(242,436,280)	(100,000,000)
Proceeds from disposal of long-term assets	174,503,728	24,953,701	975,009	4,698,769
Purchases of short-term investments and time and structured deposits	(14,160,308,769)	(2,024,897,223)	(11,345,027,121)	(19,193,774,685)
Purchases of property and equipment, intangible assets and land use right	(116,616,188)	(16,675,893)	(317,998,577)	(565,028,199)
Purchase of long-term investment				(22,910,000)
Purchase of equity method investment			(14,000,000)
Collection/(Payments) of deposits related to derivative instruments	345,913,575	49,464,983	(1,250,533,516)	1,048,095,123
Film investment as passive investor			30,000,000
Net cash provided by/ (used in) investing activities	845,438,085	120,896,037	(2,344,367,080)	3,895,444,173
Cash flows from financing activities:
Proceeds from capital injection	100,000	14,300
Proceeds from short-term borrowings	1,576,000,000	225,365,003	720,000,000
Proceeds from exercise of share options				213
Repayment of borrowings	(720,000,000)	(102,958,631)		(145,311,721)
Repurchase of ordinary shares	(300,505,804)	(42,971,758)	(533,156,442)	(420,660,053)
Net cash (used in)/provide by financing activities	555,594,196	79,448,914	186,843,558	(565,971,561)
Effect of exchange rate changes	(76,554,891)	(10,947,204)	46,243,392	12,538,338
Net increase/(decrease) in cash and cash equivalents, and restricted cash and cash equivalents	2,011,535,596	287,645,765	(2,222,280,358)	3,694,030,511
Cash and cash equivalents, and restricted cash and cash equivalents at beginning of the year	5,044,498,144	721,353,640	7,266,778,502	3,572,747,991
Cash and cash equivalents, and restricted cash and cash equivalents at end of the year	7,056,033,740	1,008,999,405	5,044,498,144	7,266,778,502
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the consolidated balance sheets
Cash and cash equivalents	5,532,375,615		4,263,311,636	7,207,343,478
Restricted cash and cash equivalents	1,523,658,125		781,186,508	59,435,024
Total cash and cash equivalents, and restricted cash and cash equivalents	7,056,033,740		5,044,498,144	7,266,778,502
Supplemental disclosures of cash flow information:
Income taxes paid	5,791,999	828,245	¥ 144,224,535	¥ 43,369,793
Interest expense paid	¥ 32,227,052	$ 4,608,405

CONSOLIDATED BALANCE SHEETS	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 5,532,375,615	$ 791,119,191	¥ 4,263,311,636
Restricted cash	1,523,658,125	217,880,214	781,186,508
Short-term investments	879,224,792	125,727,473	1,118,547,455
Time and structured deposits	1,885,242,800	269,586,135	2,009,018,598
Derivative instruments-asset	113,191,365	16,186,150
Accounts receivables (net of allowance of RMB 274,956 and RMB 236 (US$ 34) as of December 31, 2024 and 2025, respectively)	5,351,275	765,222	34,275,509
Other current assets (net of allowance of RMB 72,671,045 and RMB 77,493,926 (US$ 11,081,484) as of December 31, 2024 and 2025, respectively)	1,453,174,071	207,801,128	1,933,182,792
Total current assets	11,392,218,043	1,629,065,513	10,139,522,498
Non-current assets:
Right-of-use assets	92,623,246	13,244,948	158,006,692
Investment in equity method investee	126,532,780	18,000,000	146,100,984
Long-term investments (including amounts measured at fair value of RMB 15,163,357 and RMB 14,700,093 (US$ 2,102,085) as of December 31, 2024 and 2025, respectively)	72,768,693	10,405,785	78,987,113
Property and equipment, net	1,677,993,227	239,949,840	1,586,033,627
Intangible assets	1,586,300	226,838	2,207,259
Other non-current assets (net of allowance of RMB 440,085 and RMB nil (US$ nil) as of December 31, 2024 and 2025, respectively)	249,188,498	35,633,482	353,369,112
Total non-current assets	2,220,692,744	317,554,840	2,324,704,787
TOTAL ASSETS	13,612,910,787	1,946,620,353	12,464,227,285
Current liabilities:
Short-term borrowings	1,576,000,000	225,365,003	720,000,000
Short-term lease liabilities (including short-term lease liabilities of the consolidated VIEs without recourse to the Company of RMB 67,180 and RMB 44,274 (US$ 6,331) as of December 31, 2024 and 2025, respectively)	4,232,810	605,284	18,696,986
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to the Company of RMB 8,233,771 and RMB 17,207,708 (US$ 2,460,670) as of December 31, 2024 and 2025, respectively)	290,251,370	41,505,394	262,077,864
Income tax payable (including income tax payable of the consolidated VIEs without recourse to the Company of RMB nil and RMB 17,953,357 (US$ 2,567,296) as of December 31, 2024 and 2025, respectively)	58,155,740	8,316,160	33,422,727
Derivative instruments-liability (including derivative instruments-liability of the consolidated VIEs without recourse to the Company of RMB nil and RMB 7,799,642 (US$ 1,115,334) as of December 31, 2024 and 2025, respectively)	52,011,906	7,437,604	89,894,630
Total current liabilities	1,980,651,826	283,229,445	1,124,092,207
Non-current liabilities:
Long-term lease liabilities (including long-term lease liabilities of the consolidated VIEs without recourse to the Company of RMB nil and RMB nil (US$ nil) as of December 31, 2024 and 2025, respectively)	655,070	93,674	48,706,048
Total non-current liabilities	655,070	93,674	48,706,048
Total liabilities	1,981,306,896	283,323,119	1,172,798,255
Commitments and contingencies
Equity:
Treasury shares	(1,716,516,330)	(245,458,571)	(1,419,285,878)
Additional paid-in capital	4,024,378,922	575,478,532	4,026,668,369
Accumulated other comprehensive income/(loss)	(55,181,141)	(7,890,798)	13,751,495
Retained earnings	9,378,746,552	1,341,142,920	8,670,119,156
Total equity	11,631,603,891	1,663,297,234	11,291,429,030
TOTAL LIABILITIES AND EQUITY	13,612,910,787	1,946,620,353	12,464,227,285
Class A Ordinary shares
Equity:
Ordinary shares	132,052	18,883	132,052
Class B Ordinary shares
Equity:
Ordinary shares	¥ 43,836	$ 6,268	¥ 43,836