Fintech Chain Limited (FTC) reported a 23.9% increase in revenue from ordinary activities, reaching RMB55.9 million for the year ended March 31, 2025, compared to RMB45.1 million in the prior year. This growth is attributed to the implementation of new product series, particularly in SaaS cloud services, which surged from RMB23.5 million to RMB34.4 million, and SaaS for rights/interests/points/marketing/promotion, increasing from RMB0.7 million to RMB1.1 million. Despite the revenue increase, the company’s net loss attributable to members remained significant at RMB4.5 million, a slight improvement from RMB4.7 million in the previous year.
Other income and net gains decreased due to reduced government grants. General and administrative expenses rose due to increased labor costs, while research and development expenses saw a modest increase related to upgrades for the T-Linx system. The company did not issue or have any convertible bonds maturing during the year. Loss per share was reported at RMB0.0069, compared to RMB0.0073 in the prior year. No dividends were paid or proposed.
FTC faces challenges including market competition and a complex economic environment. Despite launching cost-effective solutions for banks, the company grapples with long accounts receivable collection periods, leading to increased trade receivables and borrowings, which rose to RMB20.8 million and RMB32.5 million, respectively. Net liabilities increased from RMB12.0 million to RMB16.8 million. FTC plans to strengthen regional marketing rights, develop a grid market strategy, and collaborate with local banks to expand market channels. The company is also actively seeking delisting from the ASX.
Notably, the company is still addressing a misappropriation of funds case, with ongoing legal proceedings to recover losses. Total compensation received to date is approximately RMB164,000 and the case has been transferred to the Ministry of Public Security of the People’s Republic of China for handling.
