v3.26.1
Unaudited Condensed Consolidated Balance Sheets
¥ in Thousands, $ in Thousands
Dec. 31, 2025
CNY (¥)
Dec. 31, 2025
USD ($)
Jun. 30, 2025
CNY (¥)
Current assets:      
Cash and cash equivalents ¥ 1,539 $ 220 ¥ 243
Short term investments 818 117 4,255
Accounts receivable 57 8
Inventories, net 1,979,937 283,127
Other receivables 231,277 33,072 29,436
Other current assets 33,677 4,816 430
Current assets of discontinued operations 2,167,052
Total current assets 2,251,209 321,918 2,201,416
Non-current assets:      
Property, plant, and equipment, net 16,982 2,428
Intangible assets, net 77,715 11,113
Goodwill, net 992,839 141,974
Investments in affiliates 113,262 16,196
Right of use assets 1,800 257
Non-current assets of discontinued operations 1,164,561
Total non-current assets 1,202,598 171,968 1,164,561
Total assets 3,453,807 493,886 3,365,977
Current liabilities:      
Accounts payable 682 98
Contract liabilities 7,391 1,057
Other payables and accrued expenses 12,721 1,817 4,957
Accrued payroll 921 132
Current operating lease liabilities 572 82
Long-Term Loan, Current Portion 758 108
Current liabilities of discontinued operations 569,037
Total current liabilities 42,420 6,065 573,994
Non-current liabilities:      
Long-term loan 1,160 166
Deferred tax liabilities 16,234 2,321
Non-current operating lease liabilities 1,334 191
Non-current liabilities of discontinued operations 603,875
Total non-current liabilities 18,728 2,678 603,875
Total liabilities 61,148 8,743 1,177,869
Commitments and contingencies
Mezzanine equity:      
Redeemable ordinary shares (US$0.09 par value, 22,175 and 22,175 Class A ordinary shares issued and outstanding as of June 30, 2025 and December 31, 2025, respectively) (Note 19) 49,039 7,012 47,935
Shareholders’ Equity:      
Treasury stock (29) (4) (29)
Additional paid-in capital 4,638,315 663,270 1,125,933
Statutory reserves 23,216
Accumulated deficit (1,502,858) (214,906) (517,369)
Accumulated other comprehensive (loss) income 2,614 374 (6,012)
Total Maase Inc. shareholders’ equity 3,343,620 478,131 636,091
Noncontrolling interests 1,504,082
Total shareholders’ equity 3,343,620 478,131 2,140,173
Total liabilities, mezzanine equity and shareholders’ equity 3,453,807 493,886 3,365,977
Class A Ordinary Shares      
Shareholders’ Equity:      
Ordinary shares, value 201,199 28,771 5,973
Class B Ordinary Shares      
Shareholders’ Equity:      
Ordinary shares, value 4,379 626 4,379
Related Parties      
Current assets:      
Other receivables 3,904  
Amount due from related parties 3,904 558
Current liabilities:      
Amount due to related parties ¥ 19,375 $ 2,771