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BAOS on Nasdaq

Baosheng Media Group Holdings Ltd

In its 2026 annual report (Form 20-F) the company says: “We are an offshore holding company incorporated in the Cayman Islands and we are not a Chinese operating company.”4 Its shares trade on Nasdaq under the symbol BAOS.1

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Last updated Oct 21, 2026.

Overview

$569.0KRevenue, fiscal 20252
-$12.0MNet income, fiscal 20252

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  • TickerBAOS on Nasdaq1
  • IndustryServices-Business Services, NEC1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business addressEast Floor 5, Building No. 8, Xishanhui Shijingshan District, Beijing, 1000413
  • Filer categoryNon-accelerated filer, Emerging growth company3

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We are an offshore holding company incorporated in the Cayman Islands and we are not a Chinese operating company. As a holding company with no operations of our own, our operations are conducted in China through our wholly owned PRC subsidiaries, Beijing Baosheng and its subsidiaries, Baosheng Network and its subsidiary, and Beijing Zhiding. Holders of our Ordinary Shares will not directly hold any equity interests in our operating subsidiaries. This structure involves unique risks to investors. The Chinese regulatory authorities could disallow our corporate structure, which would likely result in a material change in our operations and/or a material change in the value of our securities, including that it could cause the value of such securities to significantly decline or become worthless.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

12.5%Gross margin2
-1799.4%Operating margin2
-2112.8%Net margin2
-8.8%Revenue growth, 20252
-365.7%Return on equity2
-$2.3MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Rebates and incentives offered by publishers brought in 86% of the revenue Baosheng Media Group Holdings Ltd broke down this way in fiscal 2025.

  1. Rebates and incentives offered by publishers$488.7K286%up 21% from 2024
  2. Net fees from advertisers$80.3K214%down 64% from 2024
Products and services by year
Products and services202320242025
Rebates and incentives offered by publishers$887.0K$402.5K$488.7K
Net fees from advertisers$34.8K$221.6K$80.3K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue87¢$497.6K
  • Other costs12¢$70.7K
  • Income tax0¢$695

Out of $569.0K in revenue.2 The company lost money this year.

Financial statements

Revenue567892$569.0K in 2025−96% since 2018
0$5.0M$10.0M$15.0M$20.0M2018: $16.2M$16.2M20182019: $17.8M$17.8M2019+10%2020: $11.9M$11.9M2020−33%2021: $3.9M$3.9M2021−67%2022: $2.4M$2.4M2022−38%2023: $921.8K$921.8K2023−62%2024: $624.1K$624.1K2024−32%2025: $569.0K$569.0K2025−9%
Gross profit567892$71.4K in 2025−100% since 2018
-$5.0M0$5.0M$10.0M$15.0M$20.0M2018: $14.7M$14.7M20182019: $16.0M$16.0M2019+9%2020: $10.7M$10.7M2020−33%2021: $1.8M$1.8M2021−83%2022: -$31.8K-$31.8K20222023: $613.4K$613.4K20232024: $190.6K$190.6K2024−69%2025: $71.4K$71.4K2025−63%
Operating income567892-$10.2M in 2025
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2018: $9.7M$9.7M20182019: $10.5M$10.5M2019+8%2020: $5.6M$5.6M2020−46%2021: -$9.4M-$9.4M20212022: -$24.1M-$24.1M2022+155%2023: -$2.3M-$2.3M2023−90%2024: -$26.7M-$26.7M2024+1043%2025: -$10.2M-$10.2M2025−62%
Net income567892-$12.0M in 2025
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2018: $9.2M$9.2M20182019: $11.2M$11.2M2019+22%2020: $6.9M$6.9M2020−38%2021: -$6.7M-$6.7M20212022: -$23.7M-$23.7M2022+252%2023: -$1.8M-$1.8M2023−92%2024: -$26.9M-$26.9M2024+1356%2025: -$12.0M-$12.0M2025−55%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Revenues$569.0K$624.1K$921.8K
Cost of revenues-$497.6K-$433.5K-$308.4K
Gross profit (loss)$71.4K$190.6K$613.4K
Selling and marketing expenses-$259.9K-$405.3K-$381.6K
General and administrative expenses-$4.0M-$3.5M-$1.8M
Provision for credit loss against doubtful accounts-$3.2M-$23.0M-$726.3K
Impairment of deposit due from a third party-$2.8M
Total Operating Expenses-$10.3M-$26.9M-$3.0M
Loss from Operations-$10.2M-$26.7M-$2.3M
Interest expense, net-$12.1K-$135.2K-$14.5K
Changes in fair value of warrant liabilities-$832
Changes in fair value of short-term investments$17.8K$473.4K$596.8K
Subsidy income$14.9K$9.9K
Other expenses, net-$1.8M-$478.0K-$98.6K
Total Other (Expenses) Income, Net-$1.8M-$124.9K$494.4K
Loss Before Income Taxes-$12.0M-$26.9M-$1.8M
Income tax expenses-$695
Net Loss-$12.0M-$26.9M-$1.8M
Foreign currency translation adjustment$485.2K-$665.1K-$1.2M
Comprehensive Loss-$11.5M-$27.5M-$3.1M
Weighted average number of ordinary shares outstanding, Basic (in shares)1.5M shares1.5M shares1.5M shares
Weighted average number of ordinary shares outstanding, Diluted (in shares)1.5M shares1.5M shares1.5M shares
Loss per share, Basic (in dollar per share)-$7.83-$17.51-$1.20
Loss per share, Diluted (in dollar per share)-$7.83-$17.51-$1.20

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Corporate structure

Baosheng Media Group Holdings Ltd sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Baosheng Media Group Holdings Ltd

  • PBCY Investment Ltd Filed SCHEDULE 13G/A on Baosheng Media Group Holdings Ltd, latest Jul 15, 2025 (4 filings since Feb 11, 2022)
  • Deng Guan Investment Ltd Filed SC 13G/A on Baosheng Media Group Holdings Ltd, latest Mar 11, 2024 (2 filings since Feb 14, 2022)
  • EJAM New Media Holdings Ltd Filed SC 13D/A on Baosheng Media Group Holdings Ltd, latest Sep 15, 2022 (3 filings since Mar 7, 2022)
  • AnRuiTai Investment Ltd Filed SC 13G on Baosheng Media Group Holdings Ltd, latest Feb 11, 2022
  • Baosheng Media Group Holdings Ltd E9

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Baosheng Media Group Holdings Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$369.0K2 Dec 31, 2025$760.6K2 Dec 31, 2024−51.5%
Property and equipment, net$525.1K2 Dec 31, 2025$1.7M2 Dec 31, 2024−69.4%
Operating-lease assets (leased space)$194.2K2 Dec 31, 2025$1.2M7 Dec 31, 2021−83.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.3M2 Dec 31, 2025$1.5M2 Dec 31, 2024−14.5%
Marketable securities, current$368.3K2 Dec 31, 2025$1.3M2 Dec 31, 2024−72.2%
Stakes in other companies (equity method)$2.1M2 Dec 31, 2025$4.0M2 Dec 31, 2024−46.6%
Long-term investments$4.8M2 Dec 31, 2025$6.6M2 Dec 31, 2024−26.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$241.2K2 Dec 31, 2024$401.5K9 Dec 31, 2023−39.9%
Accumulated amortization-$815.7K2 Dec 31, 2025-$538.9K2 Dec 31, 2024−51.4%
Finite-lived intangibles, net$241.2K2 Dec 31, 2024$401.5K9 Dec 31, 2023−39.9%

Leadership

Who has led Baosheng Media Group Holdings Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Lina (nmn) Jiang2026–now

Chief financial officer

  1. Chenfang Zhai2026–now
Board members and other officers (3)

Timeline

  1. Aug 20, 2026New chief executive Lina (nmn) Jiang becomes CEO10

Filings

93 filings to the SEC since October 2021: 5 annual reports, 5 insider forms, 10 large holders, 73 other. The latest 20:

  1. Sep 21, 2026EFFECT EDGAR
  2. Sep 18, 20266-K EDGAR
  3. Sep 17, 2026EFFECT EDGAR
  4. Sep 15, 20266-K EDGAR
  5. Sep 9, 2026F-3 EDGAR
  6. Sep 3, 2026F-3 EDGAR
  7. Sep 2, 20266-K EDGAR
  8. Sep 2, 20266-K EDGAR
  9. Aug 27, 20266-K EDGAR
  10. Aug 25, 20266-K EDGAR
  11. Aug 20, 20266-K EDGAR
  12. Aug 20, 20263 OWNERSHIP DOCUMENT EDGAR
  13. Aug 18, 20266-K EDGAR
  14. Aug 11, 20266-K EDGAR
  15. Jul 24, 2026424B5 EDGAR
  16. Jul 20, 20266-K EDGAR
  17. Jul 15, 20266-K EDGAR
  18. Jul 13, 20266-K EDGAR
  19. Jul 13, 2026424B5 EDGAR
  20. Jul 9, 20266-K EDGAR

The 93 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Baosheng Media Group Holdings Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARBaosheng Media Group Holdings Ltd1
  • CIK0001811216
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7389 Services-Business Services, NEC1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressEast Floor 5, Building No. 8, Xishanhui Shijingshan District, Beijing, 100041, China1
  • Phone(86) 010-820880211
  • Shares outstanding1,534,487 shares as of Dec 31, 20254
  • AuditorGGF CPA LTD, Guangzhou, the People’s Republic of China PCAOB ID 2729; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceMay 6, 20201
  • Filings134 in all: 6-K (58), CORRESP (9), UPLOAD (7), 20-F (6), 3 (5), EFFECT (5), F-1/A (5), SC 13G (5)1
    All 28 form types

    144 (4), 424B5 (3), F-3 (3), NT 20-F (3), 6-K/A (2), F-1 (2), FWP (2), SC 13G/A (2), SCHEDULE 13G/A (2), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), DRSLTR (1), F-1MEF (1), F-3/A (1), S-8 (1), SC 13D (1), SC 13D/A (1)

  • Latest filingsAnnual report (20-F) Apr 30, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary Shares, par value $0.0096 per shareBAOSThe Nasdaq Stock Market LLC

From the cover page of the 20-F filed Apr 30, 2026 (Section 12(b) of the Exchange Act).4

Sources

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