The company's liquidity position is precarious, with cash reserves dwindling to just $47.5K against $11.1M in total debt, casting doubt on its status as a going concern.
Hauchen AI Parking Management Technology Holding Co., Ltd. (HCAI) balance sheet — 5-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 |
|---|
| Total Current Assets | 9.32M | 11.95M | 34.67M | 41.24M | 35.49M | 44.41M |
| Cash & Short-Term Investments | 61.9K | 389 | 28.65K | 499.75K | 605.73K | 578.64K |
| Cash Only | 61.9K | 389 | 28.65K | 499.75K | 605.73K | 578.64K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.22M | 7.13M | 24.56M | 25.93M | 23.87M | 21.22M |
| Days Sales Outstanding | - | 395.87 | 218.95 | 276.11 | 415.8 | 916.25 |
| Inventory | 0 | 0 | 1.43M | 4.39M | 4.5M | 11.27M |
| Days Inventory Outstanding | 19.48 | - | 14.79 | 57.07 | 132.61 | 814.67 |
| Other Current Assets | 0 | 0 | 0 | 0 | 1.52M | 0 |
| Total Non-Current Assets | 29.39K | 39.55K | 11.19M | 12.36M | 12.38M | 13.39M |
| Property, Plant & Equipment | 29.39K | 39.55K | 8.92M | 9.97M | 9.87M | 10.62M |
| Fixed Asset Turnover | 0.00x | 166.24x | 4.59x | 3.44x | 2.12x | 0.80x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 2.08M | 2.2M | 2.31M | 2.56M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | -1 | 0 | 0 | 0 | 0 |
| Total Assets | 9.35M | 11.99M | 45.85M | 53.59M | 47.87M | 57.79M |
| Asset Turnover | 0.00x | 0.55x | 0.89x | 0.64x | 0.44x | 0.15x |
| Asset Growth % | -95.57% | -73.85% | -14.44% | 11.95% | -17.17% | - |
| Total Current Liabilities | 3.92M | 6.77M | 13.43M | 21.39M | 15.98M | 29.17M |
| Accounts Payable | 2.66M | 6.59M | 2.68M | 7.07M | 3.01M | 4.84M |
| Days Payables Outstanding | 53.79 | 390.27 | 27.77 | 91.91 | 88.9 | 349.57 |
| Short-Term Debt | 25.41K | 0 | 8.62M | 10.7M | 9.32M | 5.18M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.23M | 21.59K | 29.27K | 1.22M | 1.88M | 12.06M |
| Current Ratio | 2.38x | 1.76x | 2.58x | 1.93x | 2.22x | 1.52x |
| Quick Ratio | 2.38x | 1.76x | 2.47x | 1.72x | 1.94x | 1.14x |
| Cash Conversion Cycle | -34.31 | - | 205.97 | 241.26 | 459.51 | 1.38K |
| Total Non-Current Liabilities | 6.49K | 18.73K | 4.58M | 5.47M | 6.34M | 6.8M |
| Long-Term Debt | 0 | 0 | 2.92M | 3.63M | 4.99M | 5.49M |
| Capital Lease Obligations | 6.49K | 18.73K | 0 | 15.22K | 0 | 17.35K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | -1 | 1.65M | 1.83M | 1.35M | 1.29M |
| Total Liabilities | 3.93M | 6.79M | 18.01M | 26.87M | 22.32M | 35.97M |
| Total Debt | 31.9K | 42.96K | 11.56M | 14.52M | 14.33M | 10.89M |
| Net Debt | -29.99K | 42.58K | 11.53M | 14.02M | 13.73M | 10.31M |
| Debt / Equity | 0.01x | 0.01x | 0.42x | 0.54x | 0.56x | 0.50x |
| Debt / EBITDA | 0.01x | - | 3.75x | 4.20x | 2.10x | 450.56x |
| Net Debt / EBITDA | -0.01x | - | 3.75x | 4.05x | 2.01x | 426.61x |
| Interest Coverage | 5.96x | - | 4.00x | 3.47x | 6.97x | -0.32x |
| Total Equity | 5.42M | 5.2M | 27.84M | 26.73M | 25.55M | 21.83M |
| Equity Growth % | -61.36% | -81.32% | 4.18% | 4.59% | 17.08% | - |
| Book Value per Share | 93.19 | 89.41 | 556.90 | 458.19 | 438.08 | 374.16 |
| Total Shareholders' Equity | 5.42M | 5.2M | 15.81M | 14.71M | 14.66M | 12.91M |
| Common Stock | 44 | 44 | 38 | 38 | 38 | 50 |
| Retained Earnings | -24.99M | -25.04M | 16.87M | 15.38M | 13.56M | 9.36M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 217.09K | 48.32K | -4.52M | -4.13M | -2.36M | 92.61K |
| Minority Interest | -582 | -582 | 12.03M | 12.02M | 10.89M | 8.92M |
Quick answers to the most common questions about buying HCAI stock.
As of 2025, Hauchen AI Parking Management Technology Holding Co., Ltd. (HCAI) had total assets of $12.0M including $12.0M in current assets.
Hauchen AI Parking Management Technology Holding Co., Ltd. (HCAI) carries total debt of $0.0M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hauchen AI Parking Management Technology Holding Co., Ltd. (HCAI) has total shareholders' equity (book value) of $5.2M ($89.41 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hauchen AI Parking Management Technology Holding Co., Ltd. (HCAI) reported a current ratio of 1.76x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent Liquidity Insolvency Risk
Asset Base Erosion Signals Distress
As reported in recent financial filings, HCAI's total assets have declined from $65.3M in 2024Q2 to $57.6M by 2025Q2, a trend that reflects the company's inability to replace its project-based asset base amidst a broader collapse in its core industrial parking installation business.
The contraction in total assets suggests that the company is failing to replenish its project pipeline, leading to a shrinking operational footprint. Investors should monitor whether this decline in asset value is a precursor to further impairments or a permanent reduction in the firm's market presence.
Cash Reserves Near Total Depletion
Based on the latest quarterly data, HCAI's cash and equivalents have plummeted to a nominal $47.5K, a figure that, when viewed against the company's historical burn rate, suggests an extreme lack of liquidity to support ongoing operations or meet short-term debt obligations.
The current cash position is effectively negligible, indicating that the company may be unable to fund its daily working capital requirements without external intervention. This lack of a liquidity buffer leaves the firm highly vulnerable to any further operational disruptions or unexpected cash outflows.
Leverage Metrics Mask Operational Insolvency
According to the provided balance sheet, HCAI maintains a debt-to-equity ratio of 0.31, which, while appearing superficially conservative, fails to account for the company's inability to generate sufficient cash flow to service its $11.1M in total debt obligations as of 2025Q2.
The presence of $11.1M in debt against a near-zero cash balance suggests that the company's leverage is a significant burden rather than a strategic tool. The inability to generate positive cash flow implies that refinancing or servicing this debt may become increasingly difficult without dilutive equity financing.
Working Capital Distortions Obscure Reality
As indicated by the financial statements, the company's current ratio of 2.72 is potentially misleading, as it likely includes significant uncollectible accounts receivable or illiquid contract assets that do not provide the immediate liquidity required to sustain the business's ongoing operations.
The disconnect between the reported current ratio and the actual cash balance warrants further investigation into the quality of the company's current assets. It appears that the firm's liquidity profile is heavily reliant on assets that may be difficult to convert into cash, exacerbating the risk of insolvency.