$SOGP

Sound Group Inc.

CIK:0001783407|SEC Filings

Consolidated Statements of Operations and Comprehensive (Loss) Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Net revenues	$ 443,688	¥ 3,102,754	¥ 2,031,806	¥ 2,071,772
Cost of revenues	(314,252)	(2,197,595)	(1,474,948)	(1,486,397)
Gross profit	129,436	905,159	556,858	585,375
Operating expenses:
Selling and marketing expenses	(49,719)	(347,690)	(307,281)	(237,646)
General and administrative expenses	(14,336)	(100,254)	(106,587)	(193,907)
Research and development expenses	(34,350)	(240,213)	(232,693)	(301,490)
Total operating expenses	(98,405)	(688,157)	(646,561)	(733,043)
Operating (loss)/income	31,031	217,002	(89,703)	(147,668)
Interest expenses	(4)	(28)	(416)	(1,563)
Foreign exchange losses	(146)	(1,022)	(4,209)	(1,488)
Interest income and investment income	1,039	7,269	10,042	10,820
Government grants	328	2,295	2,148	9,395
Others, net	(298)	(2,086)	4,423	(3,577)
(Loss)/income before income taxes	31,950	223,430	(77,715)	(134,081)
Income tax expense	(398)	(2,781)	(3,261)	(434)
Net (loss)/income	31,552	220,649	(80,976)	(134,515)
Net loss attributable to the non-controlling interests shareholders	834	5,833	11,396	7,864
Net (loss)/income attributable to the Sound Group Inc.' s ordinary shareholders	32,386	226,482	(69,580)	(126,651)
Other comprehensive income:
Foreign currency translation adjustments	433	3,025	11,754	3,277
Total other comprehensive income	433	3,025	11,754	3,277
Total comprehensive (loss)/income	31,985	223,674	(69,222)	(131,238)
Comprehensive loss attributable to the non-controlling interests shareholders	827	5,782	11,522	7,953
Comprehensive (loss)/income attributable to the Sound Group Inc.'s ordinary shareholders	$ 32,812	¥ 229,456	¥ (57,700)	¥ (123,285)
Net (loss)/income attributable to the Sound Group Inc.’s ordinary shareholders per share
Basic \| (per share)	$ 0.03	¥ 0.24	¥ (0.07)	¥ (0.12)
Diluted \| (per share)	$ 0.03	¥ 0.24	¥ (0.07)	¥ (0.12)
Weighted average number of ordinary shares
Basic	940,749,734	940,749,734	1,026,725,421	1,078,969,851
Diluted	943,559,133	943,559,133	1,026,725,421	1,078,969,851
ADR [Member]
Net (loss)/income attributable to the Sound Group Inc.’s ordinary shareholders per share
Basic \| (per share)	$ 6.89	¥ 48.15	¥ (13.55)	¥ (23.48)
Diluted \| (per share)	$ 6.86	¥ 48.01	¥ (13.55)	¥ (23.48)
Weighted average number of ordinary shares
Basic	4,703,749	4,703,749	5,133,627	5,394,849
Diluted	4,717,796	4,717,796	5,133,627	5,394,849

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Cash flows from operating activities:
Net (loss)/income	$ 31,552	¥ 220,649	¥ (80,976)	¥ (134,515)
Adjustment to reconcile net (loss)/income to net cash generated from/(used in) operating activities:
Depreciation of property, equipment and leasehold improvement	986	6,900	10,711	13,218
Amortization of intangible assets	109	759	661	983
Amortization of right-of-use assets	2,182	15,263	17,460	16,903
Foreign exchange losses	146	1,022	4,209	1,488
Investment income	142	996	(919)	(188)
Share-based compensation	646	4,518	14,150	26,755
Impairment of right-of-use assets	159	1,112
Allowance for expected credit loss	10	69		90,789
Losses/(gains) on disposal of property, equipment and leasehold improvement	54	381	90	(438)
Changes in operating assets and liabilities:
Accounts receivable	6	41	475	1,637
Prepayments and other current assets	(2,317)	(16,204)	(432)	(94,572)
Accounts payable	2,770	19,372	(3,805)	(10,648)
Deferred revenue	1,041	7,280	1,712	(6,429)
Salary and welfare payable	6,340	44,337	(5,136)	499
Taxes payable	309	2,160	3,450	(549)
Lease liabilities	(2,193)	(15,339)	(17,785)	(18,057)
Accrued expenses and other current liabilities	(1,898)	(13,282)	29,666	31
Other non-current liabilities				(3,952)
Net cash (used in)/generated from operating activities	40,044	280,000	(26,469)	(117,045)
Cash flows from investing activities:
Purchase of property, equipment and leasehold improvement	(493)	(3,448)	(11,072)	(5,961)
Purchase of intangible assets	(96)	(670)	(1,099)	(1,261)
Purchase of short-term investments	(35,321)	(247,000)	(125,000)
Maturities of short-term investments	35,321	247,000	125,000	111,022
Proceeds from disposal of property, equipment and leasehold improvement	45	317	197	1,853
Net cash generated from/(used in) investing activities	(544)	(3,801)	(11,974)	105,653
Cash flows from financing activities：
Proceeds from exercise of vested share options	4	26	7	5
Proceeds from short-term loans			18,377	40,900
Repayments of short-term loans	(1,028)	(7,188)	(11,188)	(114,878)
Cash paid for repurchase of common shares	(4,112)	(28,756)	(10,190)
Capital contributions from the non-controlling interest shareholders				2,299
Cash paid for dividends	(4,330)	(30,283)
Net cash used in financing activities	(9,466)	(66,201)	(2,994)	(71,674)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(471)	(3,290)	(3,017)	2,168
Net (decrease)/increase in cash, cash equivalents and restricted cash	29,563	206,739	(44,454)	(80,898)
Cash, cash equivalents and restricted cash at beginning of the year	64,802	453,163	497,617	578,515
Cash, cash equivalents and restricted cash at end of the year	94,365	659,902	453,163	497,617
Reconciliation to amounts on consolidated balance sheets:
Cash and cash equivalents	93,700	655,100	441,858	494,965
Restricted cash	693	4,844	11,305	2,652
Total Cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	94,365	659,902	453,163	497,617
Supplemental disclosures of cash flow information:
Cash paid for interest expense	(4)	(28)	(416)	(2,051)
Cash paid for operating leases	(2,385)	(16,679)	(17,754)	(18,257)
Income taxes paid	(259)	(1,811)	(1,861)	(495)
Non-cash investing and financing activities:
Right-of-use assets obtained in exchange for lease liabilities	$ 3,898	¥ 27,255	¥ 16,277	¥ 6,127

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2025 USD ($)	Dec. 31, 2025 CNY (¥)	Dec. 31, 2024 CNY (¥)
Current assets:
Cash and cash equivalents	$ 93,700	¥ 655,100	¥ 441,858
Restricted cash	693	4,800	11,305
Accounts receivable, net	139	972	1,082
Prepayments and other current assets	7,105	49,683	35,106
Total current assets	101,609	710,557	489,351
Non-current assets:
Property, equipment and leasehold improvement, net	1,726	12,070	16,491
Intangible assets, net	126	879	1,176
Right-of-use assets, net	3,371	23,572	12,692
Other non-current assets	363	2,536	1,730
Total non-current assets	5,586	39,057	32,089
TOTAL ASSETS	107,195	749,614	521,440
Current liabilities:
Accounts payable	8,401	58,751	39,379
Deferred revenue	5,468	38,200	30,960
Salary and welfare payable	25,199	176,216	131,186
Taxes payable	1,316	9,203	7,267
Short-term loans			7,188
Lease liabilities due within one year	2,090	14,619	8,240
Accrued expenses and other current liabilities	9,772	68,327	78,491
Total current liabilities	52,246	365,356	302,711
Non-current liabilities:
Lease liabilities	1,425	9,962	4,424
Total non-current liabilities	1,425	9,962	4,424
Total liabilities	53,671	375,318	307,135
COMMITMENTS AND CONTINGENCIES (NOTE 16)
SHAREHOLDERS’ EQUITY
Treasury stock	(1,452)	(10,156)	(10,182)
Additional paid-in capital	382,999	2,678,350	2,703,147
Statutory reserves	2,058	14,392	2,605
Accumulated deficit	(331,025)	(2,314,900)	(2,490,809)
Accumulated other comprehensive loss	4,687	32,777	29,803
Total Sound Group Inc.'s SHAREHOLDERS' EQUITY	57,351	401,062	235,289
Non-controlling interests	(3,827)	(26,766)	(20,984)
TOTAL SHAREHOLDERS' EQUITY	53,524	374,296	214,305
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	107,195	749,614	521,440
Common Class A [Member]
SHAREHOLDERS’ EQUITY
Ordinary shares, value	60	422	557
Common Class B [Member]
SHAREHOLDERS’ EQUITY
Ordinary shares, value	$ 24	¥ 168	¥ 168