$HERE
Here Group Ltd
CIK:0001932770|SEC Filings
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
|
Jun. 30, 2025
CNY (¥)
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
CNY (¥)
|
Jun. 30, 2023
CNY (¥)
|
|
| Cash flows from operating activities: | ||||
| Net (loss)/income | ¥ 356,568 | $ 49,776 | ¥ 385,527 | ¥ (108,652) |
| Adjustments to reconcile net (loss)/income to net cash provided by operating activities: | ||||
| Fair value changes of short-term investments | (5,324) | (743) | (2,446) | (40) |
| (Reversal)/provision of allowance for expected credit losses | 1,249 | 174 | (48) | (46) |
| Inventory obsolescence impairment | 10,407 | 1,453 | ||
| Purchase commitment loss | 4,007 | 559 | ||
| Depreciation of property and equipment | 5,509 | 769 | 4,546 | 3,714 |
| Amortization of intangible assets | 3,041 | 425 | 468 | |
| Impairment loss on long-lived assets and goodwill | 10,041 | |||
| Loss on disposal of property, equipment and intangible assets | 379 | 53 | 10 | |
| Share of profit from equity method investments, net of income tax | (1,388) | (194) | (2) | |
| Remeasurement gain of previously held equity interests in connection with step acquisition | (8,109) | (1,132) | ||
| Fair value changes of long-term investments | (24,863) | (3,471) | ||
| Realized gains from short-term investments | (18,750) | (2,617) | (16,004) | (9,195) |
| Share-based compensation | 20,501 | 2,861 | 27,757 | 191,632 |
| Deferred income tax (benefit)/expense | 44,264 | 6,179 | 12,862 | (2,084) |
| Changes in operating assets and liabilities: | ||||
| Accounts receivable | (6,434) | (898) | (4,377) | (10,268) |
| Amounts due from related parties | 3,400 | 475 | 24,628 | (6,108) |
| Prepayments and other current assets | 36,261 | 5,061 | (67,624) | (21,121) |
| Operating lease right-of-use assets | 41,375 | 5,776 | 25,286 | (60,092) |
| Accounts payables | (26,559) | (3,707) | (28) | 16,916 |
| Accrued expenses and other current liabilities | (51,560) | (7,197) | 14,109 | 62,370 |
| Amounts due to related parties | 2,621 | 366 | ||
| Income tax payable | 11,039 | 1,541 | 11,605 | 1,496 |
| Contract liabilities | (123,017) | (17,173) | (124,603) | 123,622 |
| Advance from customers | (50,694) | (7,077) | 15,415 | (6,692) |
| Operating lease liabilities, current portion | (33,709) | (4,706) | 7,858 | 24,761 |
| Operating lease liabilities, non-current portion | (11,128) | (1,553) | (35,851) | 46,274 |
| Inventory, net | (11,845) | (1,653) | (6,345) | |
| Other non-current assets | 16,645 | 2,324 | (64) | (10,866) |
| Net cash provided by operating activities | 183,886 | 25,671 | 282,720 | 235,621 |
| Cash flows from investing activities: | ||||
| Purchase of short-term investments | (5,870,907) | (819,547) | (5,162,236) | (2,891,452) |
| Proceeds from short-term investments | 6,009,635 | 838,913 | 5,025,644 | 2,863,828 |
| Purchase of one equity method investment that subsequently became the subsidiary of the Group | (35,000) | (4,886) | ||
| Purchase of other long-term investments | (20,000) | (2,792) | (6,563) | |
| Purchase of property and equipment | (3,096) | (432) | (3,639) | (5,756) |
| Purchase of intangible assets | (65) | (9) | ||
| Investment income from short-term investments | 19,949 | 2,785 | 16,004 | 9,195 |
| Cash paid for business combination, net of cash and cash equivalents acquired | (106,822) | (14,912) | (1,998) | |
| Collection of consideration from prior year disposal of subsidiaries | 2,000 | |||
| Disposal of property and equipment | 4 | |||
| Loan provided to related parties | (113) | (16) | (2,243) | |
| Loan repaid by related parties | 24,629 | |||
| Net cash provided/ (used in) by investing activities | (6,419) | (896) | (132,784) | 201 |
| Cash flows from financing activities: | ||||
| Proceeds from issuance of Class A ordinary shares upon the completion of IPO (net of RMB15,917 issuance costs paid) | 235,462 | |||
| Proceeds from issuance of ordinary shares upon exercise of underwriters’ over-allotment option | 9,984 | |||
| Proceeds from noncontrolling interests | 713 | 100 | 2,250 | |
| Acquisition of noncontrolling interest of subsidiaries | (7,867) | (1,098) | (2,250) | |
| Repurchase of ADSs | (25,771) | (3,597) | (130,409) | |
| Proceeds from exercise of share options | 7,696 | 1,074 | 2,467 | |
| Dividends paid to shareholders of the Company | (78,111) | (10,904) | ||
| Repayment of short-term borrowings | (3,400) | (475) | ||
| Other cash received relating to financing activities | 1,113 | 155 | ||
| Net cash provided by/ (used in) financing activities | (105,627) | (14,745) | (130,192) | 247,696 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (707) | (99) | (3,934) | 14,336 |
| Net increase in cash, cash equivalents and restricted cash | 71,133 | 9,931 | 15,810 | 497,854 |
| Cash and cash equivalents at beginning of the year | 780,091 | 108,896 | 764,281 | 266,427 |
| Cash, cash equivalents and restricted cash at end of the year | 851,224 | 118,827 | 780,091 | 764,281 |
| Supplemental disclosure of cash flow information | ||||
| Cash paid for income tax | (57,614) | (8,043) | (6,861) | (22,273) |
| Cash paid for interest | (47) | (7) | ||
| Non-cash investing and financing activities | ||||
| Changes in payables for purchase of property and equipment | (198) | 198 | ||
| Accretion of the Company’s preferred shares | (22,379) | |||
| Purchase of long-term investments with non-cash service consideration | (2,445) | |||
| Including: | ||||
| Cash and cash equivalents at beginning of the year | 779,931 | 108,874 | 764,281 | 266,427 |
| Restricted cash at beginning of the year | 160 | 22 | ||
| Including: | ||||
| Cash and cash equivalents at end of the year | 830,159 | 115,886 | 779,931 | 764,281 |
| Restricted cash at end of the year | ¥ 21,065 | $ 2,941 | ¥ 160 | |
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands |
Jun. 30, 2025
CNY (¥)
|
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
CNY (¥)
|
|---|---|---|---|
| Current assets: | |||
| Cash and cash equivalents | ¥ 830,159 | $ 115,886 | ¥ 779,931 |
| Restricted cash | 21,065 | 2,941 | 160 |
| Short-term investments | 189,697 | 26,481 | 246,195 |
| Accounts receivable, net | 45,893 | 6,406 | 16,676 |
| Inventory, net | 21,461 | 2,996 | 6,345 |
| Prepayments and other current assets | 202,899 | 28,322 | 275,549 |
| Total current assets | 1,312,751 | 183,252 | 1,329,344 |
| Non-current assets: | |||
| Property and equipment, net | 11,292 | 1,576 | 6,569 |
| Intangible assets, net | 65,938 | 9,205 | |
| Long-term investments | 59,066 | 8,245 | 9,010 |
| Operating lease right-of-use assets | 19,898 | 2,778 | 58,889 |
| Deferred tax assets | 847 | ||
| Goodwill | 187,598 | 26,188 | |
| Other non-current assets | 4,976 | 695 | 21,360 |
| Total non-current assets | 348,768 | 48,687 | 96,675 |
| TOTAL ASSETS | 1,661,519 | 231,939 | 1,426,019 |
| Current liabilities: | |||
| Short-term Borrowings (including amounts of the consolidated VIE without recourse to the primary beneficiary of nil as of both June 30, 2024 and 2025) | 11,100 | 1,550 | |
| Accounts payables (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB61,888 and RMB29,390 as of June 30, 2024 and 2025, respectively) | 48,694 | 6,797 | 62,066 |
| Accrued expenses and other current liabilities (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB151,918 and RMB83,819 as of June 30,2024 and 2025, respectively) | 151,806 | 21,191 | 190,508 |
| Income tax payable (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB9,642 and RMB21,992 as of June 30, 2024 and 2025, respectively) | 31,440 | 4,389 | 20,399 |
| Contract liabilities, current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB380,548 and RMB235,376 as of June 30, 2024 and 2025, respectively) | 238,090 | 33,236 | 385,227 |
| Advance from customers (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB159,806 and RMB109,013 as of June 30, 2024 and 2025, respectively) | 113,134 | 15,793 | 162,257 |
| Operating lease liabilities, current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB23,782 and RMB6,400 as of June 30, 2024 and 2025, respectively) | 16,428 | 2,293 | 49,099 |
| Total current liabilities | 614,013 | 85,713 | 869,556 |
| Non-current liabilities: | |||
| Contract liabilities, non-current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB11,365 and RMB35,485 as of June 30, 2024 and 2025, respectively) | 35,485 | 4,954 | 11,365 |
| Operating lease liabilities, non-current portion (including amounts of the consolidated VIE without recourse to the primary beneficiary of RMB6,317 and RMB2,076 as of June 30, 2024 and 2025, respectively) | 7,016 | 979 | 16,989 |
| Deferred tax liabilities (including amounts of the consolidated VIEs without recourse to the primary beneficiary of nil and RMB29 as of June 30, 2024 and 2025, respectively) | 72,042 | 10,057 | 11,625 |
| Total non-current liabilities | 114,543 | 15,990 | 39,979 |
| TOTAL LIABILITIES | 728,556 | 101,703 | 909,535 |
| Commitments and contingencies | |||
| MEZZANINE EQUITY | |||
| Non-controlling interests with liquidation preferences | 40,999 | 5,723 | |
| SHAREHOLDERS’ EQUITY | |||
| Treasury stock | (49,054) | (6,848) | (109,257) |
| Additional paid-in capital | 1,066,860 | 148,928 | 1,192,474 |
| Accumulated other comprehensive income | 16,507 | 2,304 | 17,313 |
| Accumulative deficit | (225,431) | (31,469) | (584,161) |
| TOTAL QUANTASING GROUP LIMITED SHAREHOLDERS’ EQUITY | 808,997 | 112,931 | 516,484 |
| Non-controlling interests | 82,967 | 11,582 | |
| TOTAL SHAREHOLDERS’ EQUITY | 891,964 | 124,513 | 516,484 |
| TOTAL LIABILITIES, MEZZANINE EQUITY, AND SHAREHOLDERS’ EQUITY | 1,661,519 | 231,939 | 1,426,019 |
| Class A Ordinary Shares | |||
| SHAREHOLDERS’ EQUITY | |||
| Ordinary shares, value | 81 | 11 | 81 |
| Class B Ordinary Shares | |||
| SHAREHOLDERS’ EQUITY | |||
| Ordinary shares, value | 34 | 5 | 34 |
| Related Party | |||
| Current assets: | |||
| Amounts due from related parties | 1,577 | 220 | 4,488 |
| Current liabilities: | |||
| Amounts due to related parties (including amounts of the consolidated VIE without recourse to the primary beneficiary of nil as of both June 30, 2024 and 2025) | ¥ 3,321 | $ 464 |