XChange TEC.INC(XHG)Earnings, Financials & Key Ratios
XHG•NASDAQ•REIT / Real Estate
$1.03
$11M mkt cap·Price updated May 6, 2026
SectorReal EstateIndustryReal Estate ServicesSub-IndustryReal estate data, listings and marketplaces
AboutXChange TEC.INC engages in the professional insurance agency business in the People's Republic of China. The company provides a various insurance products underwritten by insurance companies, including state-owned property and casualty insurance companies, as well as various regional property and casualty insurance companies. It also offers automobile, life, health, group accident, and other property related insurances primarily to individual end consumers. In addition, the company operates a SaaS platform to offer comprehensive services to online customers. It sells insurance primarily through a network of external referral sources that include external registered sales representatives and strategic channel partners, as well as through the in-house sales force. The company was formerly known as FLJ Group Limited and changed its name to XChange TEC.INC in May 2024. XChange TEC.INC was founded in 2012 and is based in Shanghai, the People's Republic of China.Show more
- Revenue$288M
- FFO-$227M-415.9%
- FFO/Share-21.57+31.1%
- FFO Payout0%
- FFO per Share-21.57+31.1%
- NOI Margin4.67%
- FFO Margin-78.57%
- ROA-52.23%+33.6%
- Debt/Assets140.6%+171.0%
- Book Value/Share-52.99+88.4%
XHG Key Insights
XChange TEC.INC (XHG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗Low NOI margin of 4.7%
- ✗Shares diluted 100.0% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
XHG Price & Volume
XChange TEC.INC (XHG) stock price & volume — 10-year historical chart
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XHG Growth Metrics
XChange TEC.INC (XHG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-25.23%
3 Years-34.71%
TTM-78.65%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM31.51%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM99.97%
Return on Capital
10 Years-120.52%
5 Years-264.16%
3 Years-82.39%
Last Year-82.39%
XHG Peer Comparison
XChange TEC.INC (XHG) competitors in Real estate data, listings and marketplaces — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 XTIA | 415.76K | 1.83 | -0.01 | -29.81% | -13.26% | -5% | 0.47 | |
 BTBT | 576.6M | 1.79 | 8.95 | 264.59% | 17.29% | 21.41% | 0.03 | |
 GFAI | 11.57M | 0.53 | -1 | 0.18% | -32.94% | -69.69% | 0.08 | |
 FTFT | 7.72M | 1.53 | -0.66 | 77.47% | -120.63% | -16.38% | 0.04 | |
 RCON | 17.8M | 0.89 | -1.30 | -3.73% | -64.25% | -9.15% | 0.08 | |
 CLPS | 25.47M | 0.91 | -3.50 | 15.17% | -1.27% | -6.06% | 0.59 | |
 CNET | 1.99M | 0.75 | -0.40 | -49.52% | -33.36% | -60.34% | 0.03 | |
 MSFT | 3.06T | 411.35 | 30.16 | 14.93% | 39.34% | 33.13% | 2.34% | 0.33 |
Compare XHG vs Peers
XChange TEC.INC (XHG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
XHG Income Statement
XChange TEC.INC (XHG) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 522.74M | 889.94M | 1.23B | 1.21B | 1.04B | 652.33M | 0 | 288.37M | 376.21M |
| Revenue Growth % | - | 70.25% | 38.64% | -2.09% | -14.22% | -37.05% | -100% | - | -78.65% |
| Property Operating Expenses | 0 | 0 | 0 | 1.22B | 949.65M | 711M | 0 | 274.9M | 288.04M |
| Net Operating Income (NOI) | 522.74M▲ 0% | 889.94M▲ 70.2% | 1.23B▲ 38.6% | -9.7M▼ 100.8% | 86.55M▲ 992.6% | -58.67M▼ 167.8% | 0▲ 100.0% | 13.47M▲ 0% | 117.56M▲ 0% |
| NOI Margin % | 100% | 100% | 100% | -0.8% | 8.35% | -8.99% | - | 4.67% | 31.25% |
| Operating Expenses | 712.28M | 1.32B | 1.68B | 1.49B | -922.31M | -681.65M | 25.73M | 602.29M | 939.3M |
| G&A Expenses | 140.46M | 371.83M | 333.3M | 166.28M | 27.54M | 29.33M | 25.7M | 27.29M | 41.82M |
| EBITDA | -189.55M | -426.44M | -448.31M | -1.24B | 51.92M | -1.96M | 1.67M | -588.56M | -923.41M |
| EBITDA Margin % | -36.26% | -47.92% | -36.34% | -102.46% | 5.01% | -0.3% | - | -204.1% | -245.45% |
| Depreciation & Amortization | 0 | 0 | 0 | 263.04M | 79.26M | 27.4M | 27.4M | 261K | 274.5K |
| D&A / Revenue % | 0% | 0% | 0% | 21.78% | 7.65% | 4.2% | - | 0.09% | 0.07% |
| Operating Income | -189.55M▲ 0% | -426.44M▼ 125.0% | -448.31M▼ 5.1% | -1.5B▼ 234.8% | -27.34M▲ 98.2% | -29.36M▼ 7.4% | -25.73M▲ 12.3% | -588.82M▼ 2188.3% | -923.69M▲ 0% |
| Operating Margin % | -36.26% | -47.92% | -36.34% | -124.24% | -2.64% | -4.5% | - | -204.19% | -245.53% |
| Interest Expense | 50.14M | 77.17M | 91.91M | 130.53M | 103.23M | 42.05M | 1.57M | 26.11M | 3.62M |
| Interest Coverage | -3.78x | -5.53x | -4.88x | -11.50x | -0.26x | -0.70x | -16.42x | -22.56x | - |
| Non-Operating Income | 189.55M | 426.44M | 448.31M | -97.68M | 0 | 423.69M | 0 | -2.31M | -319.21M |
| Pretax Income | -244.84M▲ 0% | -497.53M▼ 103.2% | -498.27M▼ 0.1% | -1.53B▼ 207.8% | -130.57M▲ 91.5% | -495.09M▼ 279.2% | -27.3M▲ 94.5% | -612.62M▼ 2144.1% | -955.46M▲ 0% |
| Pretax Margin % | -46.84% | -55.91% | -40.39% | -126.96% | -12.6% | -75.89% | - | -212.44% | -253.97% |
| Income Tax | 596K | 2.39M | 63K | 13K | 0 | 0 | 0 | 548K | 560.5K |
| Effective Tax Rate % | -0.24% | -0.48% | -0.01% | -0% | 0% | 0% | 0% | -0.09% | -0.06% |
| Net Income | -245.47M▲ 0% | -499.86M▼ 103.6% | -498.24M▲ 0.3% | -1.53B▼ 207.8% | -569.17M▲ 62.9% | 820.02M▲ 244.1% | -71.31M▼ 108.7% | -226.82M▼ 218.1% | -609M▲ 0% |
| Net Margin % | -46.96% | -56.17% | -40.38% | -126.96% | -54.93% | 125.71% | - | -78.66% | -161.88% |
| Net Income Growth % | - | -103.63% | 0.32% | -207.8% | 62.89% | 244.07% | -108.7% | -218.06% | 31.51% |
| Funds From Operations (FFO) | -143.69M▲ 0% | -347.55M▼ 141.9% | -283.17M▲ 18.5% | -1.27B▼ 348.7% | -489.92M▲ 61.4% | 847.42M▲ 273.0% | -43.91M▼ 105.2% | -226.56M▼ 415.9% | -1.91B▲ 0% |
| FFO Margin % | -27.49% | -39.05% | -22.95% | -105.18% | -47.28% | 129.91% | - | -78.57% | -506.55% |
| FFO Growth % | - | -141.88% | 18.52% | -348.69% | 61.44% | 272.97% | -105.18% | -415.92% | 0% |
| FFO per Share | - | - | - | -18807.98 | -6708.22 | 1652.15 | -31.31 | -21.57 | -4462896.96 |
| FFO Payout Ratio % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| EPS (Diluted) | 0.00▲ 0% | 0.00▲ 0% | 0.00▲ 0% | -999999.00▲ 0% | -999999.00▲ 0.0% | -999999.00▲ 0.0% | -999999.00▲ 0.0% | -21.60▲ 100.0% | -999999.00▲ 0% |
| EPS Growth % | - | - | - | - | 92.13% | 46.01% | 99.96% | 100% | 99.97% |
| EPS (Basic) | 0.00 | 0.00 | 0.00 | -999999.00 | -999999.00 | -999999.00 | -999999.00 | -21.60 | - |
| Diluted Shares Outstanding | 0 | 0 | 0 | 67.55K | 73.03K | 512.92K | 1.4M | 10.5M | 427 |
XHG Balance Sheet
XChange TEC.INC (XHG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | 1.13B | 1.78B | 1.8B | 850.73M | 377.63M | 95.54M | 85.65M | 782.84M | 115.6M |
| Asset Growth % | - | 57.15% | 1.03% | -52.73% | -55.61% | -74.7% | -10.35% | 813.96% | 324.01% |
| Real Estate & Other Assets | 177.13M | 344.58M | 442.65M | 57.13M | 9.56M | 10.4M | 0 | 5M | 5M |
| PP&E (Net) | 578.33M | 1.32B | 1.19B | 358.02M | 38.94M | 500K | 0 | 953K | 810K |
| Investment Securities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 365.12M | 103.75M | 159.8M | 203M | 176.67M | 71.16M | 85.65M | 67.64M | 44.78M |
| Cash & Equivalents | 365.12M | 103.75M | 159.8M | 22.88M | 16.32M | 563K | 286K | 8.09M | 4.89M |
| Receivables | 0 | 0 | 0 | 1000K | 370K | 1000K | 0 | 1000K | 1000K |
| Other Current Assets | 0 | 0 | 0 | 13.12M | 127.2M | 26.63M | 78M | 7.5M | 16.49M |
| Intangible Assets | 13.02M | 12.25M | 11.98M | 232.57M | 152.46M | 13.47M | 0 | 0 | 678K |
| Total Liabilities | 1.56B | 2.56B | 2.61B | 2.85B | 2.86B | 668.4M | 729.08M | 1.34B | 1.33B |
| Total Debt | 156.26M | 100.18M | 129.66M | 1.49B | 1.09B | 6.54M | 44.43M | 1.1B | 42M |
| Net Debt | -208.85M | -3.58M | -30.14M | 1.47B | 1.08B | 5.98M | 44.07M | 1.09B | 37.11M |
| Long-Term Debt | 156.26M | 100.18M | 129.66M | 428.67M | 514.91M | 0 | 0 | 0 | 0 |
| Short-Term Borrowings | 0 | 0 | 0 | 614.81M | 576.8M | 6.54M | 44.43M | 1.1B | 41.23M |
| Capital Lease Obligations | 0 | 0 | 0 | 444.55M | 0 | 0 | 0 | 936K | 419.73M |
| Total Current Liabilities | 70.11M | 74.85M | 15.64M | 1.96B | 2.35B | 668.4M | 729.08M | 1.34B | 1.33B |
| Accounts Payable | 0 | 0 | 0 | 294.47M | 320.27M | 0 | 182K | 36.97M | 1.07B |
| Deferred Revenue | 0 | 0 | 0 | 318.49M | 339.3M | 173.55M | 0 | 0 | 0 |
| Other Liabilities | 1.33B | 2.39B | 2.47B | 212.05M | 0 | 660.88M | 0 | 0 | 0 |
| Total Equity | -425.97M▲ 0% | -779.13M▼ 82.9% | -810.87M▼ 4.1% | -1.99B▼ 146.0% | -2.48B▼ 24.6% | -572.86M▲ 76.9% | -643.42M▼ 12.3% | -556.57M▲ 13.5% | -1.21B▲ 0% |
| Equity Growth % | - | -82.91% | -4.07% | -145.97% | -24.59% | 76.95% | -12.32% | 13.5% | -300.03% |
| Shareholders Equity | -443.81M | -796.91M | -820.54M | -2B | -2.49B | -572.86M | -643.42M | -556.57M | -1.21B |
| Minority Interest | 17.84M | 17.77M | 9.68M | 9.63M | 9.6M | 0 | 0 | 0 | 0 |
| Common Stock | 24K | 27K | 27K | 92K | 110K | 1.73M | 1.9M | 57.18M | 179.49M |
| Additional Paid-in Capital | 0 | 0 | 0 | 2.09B | 1.85B | 2.95B | 2.96B | 3.14B | 3.08B |
| Retained Earnings | -845.31M | -1.48B | -2.28B | -3.81B | -4.38B | -3.56B | -3.63B | -3.86B | -4.53B |
| Preferred Stock | 404.32M | 679.82M | 1.46B | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | -21.65% | -34.3% | -27.83% | -115.72% | -92.67% | 346.61% | -78.72% | -52.23% | -526.8% |
| Return on Equity (ROE) | - | - | - | - | - | - | - | - | 93.53% |
| Debt / Assets | 13.78% | 5.62% | 7.2% | 174.91% | 289.1% | 6.85% | 51.87% | 140.6% | 36.33% |
| Debt / Equity | - | - | - | - | - | - | - | - | -0.03x |
| Net Debt / EBITDA | - | - | - | - | 20.71x | - | 26.44x | - | -0.04x |
| Book Value per Share | - | - | - | -29523.79 | -34024.89 | -1116.86 | -458.76 | -52.99 | -999999.00 |
XHG Cash Flow Statement
XChange TEC.INC (XHG) cash flow — operating, investing & free cash flow history
| Line item | Sep'17 | Sep'18 | Sep'19 | Sep'20 | Sep'21 | Sep'22 | Sep'23 | Sep'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -43.59M | -117.05M | -88.19M | 54.84M | -109.66M | -39.59M | -39.87M | -9.77M | -9.77M |
| Operating CF Growth % | - | -168.53% | 24.66% | 162.19% | -299.96% | 63.9% | -0.7% | 75.49% | -273.84% |
| Operating CF / Revenue % | -8.34% | -13.15% | -7.15% | 4.54% | -10.58% | -6.07% | - | -3.39% | -2.6% |
| Net Income | -245.47M | -499.86M | -498.24M | -1.53B | -130.57M | -495.09M | -71.31M | -226.82M | -609M |
| Depreciation & Amortization | 101.79M | 152.31M | 215.07M | 263.04M | 79.26M | 27.4M | 0 | 261K | 261K |
| Stock-Based Compensation | 775K | 2.25M | 8.17M | 16.05M | 15.81M | 9.77M | 4.78M | 2.51M | 4.81M |
| Other Non-Cash Items | 68.95M | 295.29M | 160.71M | 1.02B | -25.53M | 365.02M | -17.69M | 598.61M | 1.28B |
| Working Capital Changes | 30.38M | -67.04M | 26.09M | 291.98M | -48.62M | 53.31M | -1.86M | 1.51M | 1.51M |
| Cash from Investing | -285.52M | -674.3M | -351.45M | -138.67M | -6.49M | -11.47M | 0 | 10.17M | 9.87M |
| Acquisitions (Net) | 0 | 0 | 0 | 0 | 0 | -11.47M | 0 | 10.87M | 369K |
| Purchase of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -800K | -800K |
| Sale of Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -285.52M | -674.3M | -351.45M | -39.5M | -6.48M | 0 | 0 | 106K | 436K |
| Cash from Financing | 649.45M | 539.53M | 569.57M | -134.92M | 101.6M | 29.31M | 37.89M | 8.67M | 40.1M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Dividends | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 1000K | -1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Share Repurchases | 0 | 0 | 0 | -248.86M | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 440.89M | 599.19M | 168.52M | 0 | -14.2M | -1.31M | 0 | 0 | 31.43M |
| Net Change in Cash | 367.12M▲ 0% | -248.36M▼ 167.7% | 132.06M▲ 153.2% | -219.05M▼ 265.9% | -12.51M▲ 94.3% | -16.37M▼ 30.8% | -1.78M▲ 89.1% | 11.98M▲ 774.4% | 26.39M▲ 0% |
| Exchange Rate Effect | -238K | 1000K | 1000K | -295K | 1000K | 1000K | 203K | 1000K | 607K |
| Cash at Beginning | 0 | 367.12M | 118.75M | 250.81M | 31.77M | 19.25M | 2.88M | 1.1M | 0 |
| Cash at End | 367.12M | 118.75M | 250.81M | 31.77M | 19.25M | 2.88M | 1.1M | 13.09M | 0 |
| Free Cash Flow | -43.59M▲ 0% | -117.05M▼ 168.5% | -88.19M▲ 24.7% | -44.33M▲ 49.7% | -109.66M▼ 147.4% | -39.59M▲ 63.9% | -39.87M▼ 0.7% | -9.77M▲ 75.5% | -43.2M▲ 0% |
| FCF Growth % | - | -168.53% | 24.66% | 49.73% | -147.37% | 63.9% | -0.7% | 75.49% | 87.15% |
| FCF / Revenue % | -8.34% | -13.15% | -7.15% | -3.67% | -10.58% | -6.07% | - | -3.39% | -11.48% |
XHG Key Ratios
XChange TEC.INC (XHG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|
| FFO per Share | - | - | -18.81K | -6.71K | 1.65K | -31.31 | -21.57 | -4.46M |
| FFO Payout Ratio | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| NOI Margin | 100% | 100% | -0.8% | 8.35% | -8.99% | - | 4.67% | 31.25% |
| Net Debt / EBITDA | - | - | - | 20.71x | - | 26.44x | - | -0.04x |
| Debt / Assets | 5.62% | 7.2% | 174.91% | 289.1% | 6.85% | 51.87% | 140.6% | 36.33% |
| Interest Coverage | -5.53x | -4.88x | -11.50x | -0.26x | -0.70x | -16.42x | -22.56x | - |
| Book Value / Share | - | - | -29.52K | -34.02K | -1.12K | -458.76 | -52.99 | -1000K |
| Revenue Growth | 70.25% | 38.64% | -2.09% | -14.22% | -37.05% | -100% | - | -78.65% |
XHG Frequently Asked Questions
XChange TEC.INC (XHG) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
XChange TEC.INC (XHG) reported $376.2M in revenue for fiscal year 2024. This represents a 28% decrease from $522.7M in 2017.
XChange TEC.INC (XHG) grew revenue by 0.0% over the past year. Growth has been modest.
XChange TEC.INC (XHG) reported a net loss of $609.0M for fiscal year 2024.
Industry Metrics
XChange TEC.INC (XHG) generated Funds From Operations (FFO) of $-1905.7M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Explore More XHG
XChange TEC.INC (XHG) financial analysis — history, returns, DCA and operating performance tools
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Revenue History
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Financial Ratios
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