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Annual figures as reported in 10-K / 20-F / 40-F filings.
WCT · CIK 0001990251

WELLCHANGE HOLDINGS COMPANY LIMITED

Annual figures as reported, FY2021–FY2025. Ratios and growth rates derived on-page.

WCT logo
Services-Prepackaged Software
Company profile
Nasdaq · WCTHQ Hong Kong, ChinaFiscal year ends Dec 31Non-accelerated filer Emerging growth company
Revenue
$1.3M
▼ −41.6% vs FY2024
Net income
−$7.3M
▼ −1596.9% vs FY2024
Free cash flow
$796K
▼ −23.6% vs FY2022
Diluted EPS
−$4.73
▼ −345.3% vs FY2024

Revenue

Annual, as reported

01M2M’22’23’24’25$1.3M

Net income

Losses shown in terracotta

−5M−2.5M0’22’23’24’25−$7.3M

Profitability & returns

quality of earnings

Margins

Share of revenue kept at each line

-400%-200%0%’22’23’24’25
Gross marginOperating marginNet margin

Returns on capital

Net income vs year-end equity and assets

-50%0%50%’22’23’24’25
Return on equityReturn on assets

Cash flow

cash generation

Free cash flow

Operating cash flow less capital expenditure

0500K1M’22’23$796K

Operating cash flow

Net cash from operations

−6M−4M−2M0’22’23’24’25−$6.3M

Shareholder returns

capital allocation

Diluted shares outstanding

Falling count means buybacks outpace dilution

0500K1M1.5M’22’23’24’252M

Balance sheet

financial position

Stockholders’ equity

At fiscal year end

05M10M’21’22’23’24’25$11.2M

Net debt

Long-term debt less cash — negative means net cash

−2M−1M0’23’24’25−$2.4M

Growth rates

compounding, annualized
Revenue CAGR
−6.9%
3y

Key ratios

derived per fiscal year
Fiscal yearGross marginOp. marginNet marginFCF marginROEROACurrent ratioDebt / equity
FY202542.7%−469.1%−543.2%—−65.7%−53.8%4.59×0.04×
FY202470.0%−19.8%−18.7%—−8.8%−6.4%1.04×0.09×
FY202378.0%47.5%37.7%32.0%47.0%28.4%0.75×0.25×
FY202278.9%56.2%46.7%62.4%96.1%———
FY2021————————

Annual figures

as reported
Fiscal yearRevenueGross profitOp. incomeNet incomeDiluted EPSOp. cash flowCapexTotal assetsLiabilitiesEquityCashLT debt
FY2025$1.3M$575K−$6.3M−$7.3M−$4.73−$6.3M—$13.6M$2.5M$11.2M$2.8M$416K
FY2024$2.3M$1.6M−$457K−$432K−$1.06−$316K—$6.7M$1.8M$4.9M$250K$434K
FY2023$2.5M$1.9M$1.2M$938K$2.34$797K$818$3.3M$1.3M$2.0M$13K$497K
FY2022$1.7M$1.3M$939K$781K$1.95$1.2M$126K——$812K$261K—
FY2021—————————$30K$52K—

Latest filings

the most recent regulatory filings
6-KREPORT OF FOREIGN PRIVATE ISSUER2026-06-17 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-06-16 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-06-12 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-06-11 ↗20-FANNUAL REPORT2026-05-14 ↗NT 20-FNOTIFICATION OF LATE FILING.2026-04-30 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-03-27 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-03-24 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-03-06 ↗6-KREPORT OF FOREIGN PRIVATE ISSUER2026-03-04 ↗

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