Token Cat Limited

$1.90

-5.47%

2026-09-03 16:00:00 EDT-$0.11

Industrials

Specialty Business Services

NASDAQ

Active Trading

Token Cat Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in the People’s Republic of China. The company organizes auto ...

Price Action of TC

$1.90

-5.47%-$0.11

High—

Low—

52W High-91.5%

Rel. vol—

Interval

Range4.3h

Volume—SMA5SMA10

—

Token Cat Limited (NASDAQ: TC) is a China-focused automotive marketplace company that connects multiple sides of the automotive transaction ecosystem—automakers, franchised and secondary dealers, and automotive service providers—via an omni-channel model combining offline events and online platforms. The company’s public disclosures describe it as operating primarily through subsidiaries and related ...Token Cat Limited (NASDAQ: TC) is a China-focused automotive marketplace company that connects multiple sides of the automotive transaction ecosystem—automakers, franchised and secondary dealers, and automotive service providers—via an omni-channel model combining offline events and online platforms. The company’s public disclosures describe it as operating primarily through subsidiaries and related structures (including VIE arrangements), with the holding company having limited direct operating assets. From a business perspective, Token Cat’s core value proposition is to facilitate automotive commerce and lead generation by running and organizing auto shows and special promotion events, and by providing integrated marketing solutions for industry customers. These services include enabling interactions between participants on both sides of potential transactions. The company also offers business and technical support, consulting services, and subscription/support services that help customers participate in its ecosystem effectively. Product and service offerings are delivered across multiple channels: its tuanche.com website, WeChat account and WeChat mini-program, mobile applications, and “Cheshangtong,” a software-as-a-service (SaaS) offering. In addition, Token Cat provides referral services tied to commercial bank relationships to enhance its auto-loan-related business, linking financing opportunities with marketplace demand. In terms of cost and operating dynamics, marketplace and digital marketing models typically rely on (i) sales/marketing and customer acquisition efforts, (ii) platform and technology operations, and (iii) event-related costs for auto shows and promotions. The provided financial snapshot indicates profitability and cash-generation pressures (e.g., negative operating and net profit margins and negative free-cash-flow metrics in the dataset timeframe). While the company has revenue activity (reflected in positive gross margin in the snapshot), the overall profitability picture appears constrained, implying ongoing investment or costs that exceed current operating earnings. Key leadership includes CEO, CFO & Chairman Guangsheng Liu, with co-founder Jianchen Sun also listed among senior leadership. The company was founded in 2010 and was formerly known as TuanChe Limited, changing its name to Token Cat Limited in February 2025. Strategically, the company’s “omni-channel” approach aims to increase marketplace liquidity and customer stickiness by blending event-driven demand creation with always-on digital engagement and software tools.ExpandCollapse

Founded

2010

Employees

CEO

Guang Sheng Liu

Full Name

Token Cat Limited

Sector

Industrials

Industry

Specialty Business Services

ROE

-0.82%

Market Cap

$0.01B

Current Ratio

10.66

WACC

4.55%

ROIC

-50.86%

Contact Information

https://www.tuanche.com

86 10 6398 2942

Ruihai Building, Beijing, BE 100038

Key Metrics of TC

Snapshot

Latest / TTM · 6 periods

Market Cap

$5.53M

ROCE

-26.1%

EV / EBITDA

0.00x

-4.7% YoY

FCF Yield

-456.8%

+2512.0% YoY

Cash Conversion Cycle

-451.1d

Current Ratio

10.66

Quick take

TTM —

No major risk flags in selected headline metrics.

Financial Highlights of TC

Profitability trend

Latest / TTM · 6 periods

Gross Margin

79.0%

Net Margin

-3.4%

P/E Ratio

-2.21x

n/a

Debt / Equity

0.05

n/a

Current Ratio

10.66

Dividend Yield

0.0%

Understanding

TTM —

Interest coverage is weak

Calendar of TC

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-285.09 · Revenue $128.15M · 1 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-591.74 · Revenue $135.55M · 1 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-1438.46 · Revenue $434.92M · 1 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-352.03 · Revenue $245.49M · 1 analysts

Recent history

Dec 31, 2025
FY2025 · Annual results
EPS ¥18.60 · Revenue ¥5.76M
Jun 30, 2025
Q2 FY2025 · Results reported
EPS ¥-2.88 · Revenue ¥9.89M
Mar 31, 2025
Q1 FY2025 · Results reported
EPS ¥-2.88 · Revenue ¥9.89M
Dec 31, 2024
FY2024 · Annual results
EPS ¥-64.80 · Revenue ¥49.18M
Sep 30, 2024
Q3 FY2024 · Results reported
EPS ¥-33.60 · Revenue ¥8.44M
Jun 30, 2024
Q2 FY2024 · Results reported
EPS ¥-6.96 · Revenue ¥16.15M

Financial Statements of TC

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$5.8M	-88.3%	0.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$2.2M	+101.2%	0.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+2.8%	-95.8%	0.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-582.3%	-218.4%	0.0%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+38.3%	+110.0%	0.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$-171.6M	-393.8%	0.0%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	-2979.1%	-4117.0%	0.0%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	4.7%	+113.6%	+0.1%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	10.66x	+2786.3%	-0.0%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$173.0M	+291.9%	0.0%

Actual vs Estimate

A Dec 31Q Jun 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	18.60 vs -1438.46	+101.3%	-2.88 vs -1028.23	+99.7%
Revenue Surprise	$5.8M vs $434.9M	-98.7%	$9.9M vs $9.3M	+6.7%

Insider Transactions of TC

Acquisitions (A)

Since Sep 30, 2014

Disposals (D)

Since Sep 30, 2014

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Dec 31, 2015	Cassity Wendy	officer: VP, GC and Secretary	Common Stock	A	5,000	$0.17
Sep 30, 2015	Cassity Wendy	officer: VP, GC and Secretary	Common Stock	A	5,000	$0.37
Jun 30, 2015	Cassity Wendy	officer: VP, GC and Secretary	Common Stock	A	3,978	$0.70
May 22, 2015	Cassity Wendy	officer: VP, GC and Secretary	Common Stock	D	3,294	$1.07
Mar 31, 2015	Cassity Wendy	officer: VP, GC and Secretary	Common Stock	A	2,966	$1.12

Leadership Team of TC

4 executives

Name	Title	Gender	Year Born	Status
Sav Persico	Chief Operating Officer	Male	—	Active
Guangsheng Liu	Chief Executive Officer, Chief Financial Officer & Chairman	Male	1985	Active
Jianchen Sun	Co-Founder	Male	1978	Active
Cynthia Tan	Investor Relations Director	—	—	Active

Recent News of TC

Seeking Alpha5/25/2026Neutral

Tucows Inc. (TCX) Q1 2026 Earnings Call Transcript

Historical Employee Count of TC

Current

Change

-80.17%

Minimum

Maximum

621

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	23	20-F	May 8, 2026	View
Dec 31, 2024	116	20-F	Mar 28, 2025	View
Dec 31, 2023	324	20-F	Mar 28, 2024	View
Dec 31, 2022	431	20-F	Mar 29, 2023	View
Dec 31, 2021	621	20-F	Apr 29, 2022	View

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Token Cat Limited

Contact Information

Upcoming

Q3 FY2026 · Estimated results

Q4 FY2026 · Estimated results

FY2026 · Estimated annual results

Q1 FY2027 · Estimated results

Recent history

FY2025 · Annual results

Q2 FY2025 · Results reported

Q1 FY2025 · Results reported

FY2024 · Annual results

Q3 FY2024 · Results reported

Q2 FY2024 · Results reported

Tucows Inc. (TCX) Q1 2026 Earnings Call Transcript

Recent Filings

Related stocksSpecialty Business Services

Upcoming

Q3 FY2026 · Estimated results

Q4 FY2026 · Estimated results

FY2026 · Estimated annual results

Q1 FY2027 · Estimated results

Recent history

FY2025 · Annual results

Q2 FY2025 · Results reported

Q1 FY2025 · Results reported

FY2024 · Annual results

Q3 FY2024 · Results reported

Q2 FY2024 · Results reported

Tucows Inc. (TCX) Q1 2026 Earnings Call Transcript

Recent Filings