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JF on Nasdaq

J & Friends Holdings Ltd

J & Friends Holdings Ltd is a computer programming, data processing services company in the Cayman Islands.1 Its shares trade on Nasdaq under the symbol JF.1

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Last updated Oct 21, 2026.

Overview

$1.6MRevenue, fiscal 20252
-$1.3MNet income, fiscal 20252

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  • TickerJF on Nasdaq1
  • IndustryServices-Computer Programming, Data Processing, Etc.1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business address7Th Fl, Tower A Sino Ocean Intl Center, 56 East 4Th Ring Road Middle, Beijing3
  • Filer categoryNon-accelerated filer3

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Our holding company in the Cayman Islands, J and Friends Holdings Limited, formerly known as Pintec Technology Holdings Limited, was incorporated in March 2017, since when we had been operating financing solutions business in the PRC, until our disposal of equity interests in Romantic Park In November 2025.4 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

71.5%Gross margin2
-83.9%Operating margin2
-82.9%Net margin2
-66.8%Revenue growth, 20252
-88.9%Return on equity2
1.21×Debt to equity2

What sells

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

Products and services

Payment Platform Partnerships brought in 46% of the revenue J & Friends Holdings Ltd broke down this way in fiscal 2025.

  1. Payment Platform Partnerships$740.0K246%
  2. Hardware Sales and Installment Services$436.0K227%
  3. Saas Subscription Services$367.0K223%
  4. Software Development Services$55.0K23%
Products and services by year
Products and services2025
Payment Platform Partnerships$740.0K
Hardware Sales and Installment Services$436.0K
Saas Subscription Services$367.0K
Software Development Services$55.0K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs96¢$1.5M
  • Income tax4¢$65.0K

Out of $1.6M in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$146.0K

Out of $146.0K of cash from operations.2

Financial statements

Revenue5678910112$1.6M in 2025−99% since 2018
0$50.0M$100.0M$150.0M$200.0M2018: $153.1M$153.1M20182019: $184.6M$184.6M2019+21%2020: $58.0M$58.0M2020−69%2021: $27.2M$27.2M2021−53%2022: $10.8M$10.8M2022−60%2023: $7.4M$7.4M2023−31%2024: $4.8M$4.8M2024−35%2025: $1.6M$1.6M2025−67%
Gross profit56789211$1.1M in 2025−98% since 2018
0$20.0M$40.0M$60.0M$80.0M2018: $72.4M$72.4M20182019: $74.1M$74.1M2019+2%2020: $14.2M$14.2M2020−81%2021: $13.1M$13.1M2021−8%2022: $1.7M$1.7M2022−87%2023: $46.0K$46.0K2023−97%2024: $3.1M$3.1M2024+6543%2025: $1.1M$1.1M2025−63%
Operating income567892-$1.3M in 2025−9% since 2018
-$150.0M-$100.0M-$50.0M0$50.0M2018: -$1.5M-$1.5M20182019: -$104.6M-$104.6M2019+6999%2020: -$31.7M-$31.7M2020−70%2021: -$11.2M-$11.2M2021−65%2022: -$11.8M-$11.8M2022+6%2023: $346.0K$346.0K20232024: -$294.0K-$294.0K20242025: -$1.3M-$1.3M2025+356%
Net income567892-$1.3M in 2025
-$150.0M-$100.0M-$50.0M0$50.0M2018: $315.0K$315.0K20182019: -$130.1M-$130.1M20192020: -$45.0M-$45.0M2020−65%2021: -$16.0M-$16.0M2021−65%2022: -$27.6M-$27.6M2022+73%2023: -$11.1M-$11.1M2023−60%2024: -$2.1M-$2.1M2024−81%2025: -$1.3M-$1.3M2025−38%

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$1.6M
Cost of revenues-$455.0K$46.0K
Gross profit$1.1M$46.0K
Sales and marketing expenses-$542.0K-$1.0K$229.0K
General and administrative expenses-$1.4M-$293.0K-$264.0K
Research and development expenses-$499.0K$335.0K
Total operating income/(expenses)-$2.5M-$294.0K$300.0K
Operating income/ (loss)-$1.3M-$294.0K$346.0K
Loss from disposal of subsidiaries-$5.4M
Interest expenses, net-$52.0K-$14.0K-$631.0K
Other (expenses)/income, net$585.0K-$10.0K
Loss before income tax expense-$807.0K-$318.0K-$5.7M
Income tax benefit$65.0K
Net loss from continuing operations-$742.0K-$318.0K-$5.7M
Net loss from discontinued operations, net of income tax-$799.0K-$1.7M-$5.7M
Net loss-$1.5M-$2.1M-$11.4M
Net loss from continuing operations attributable to non-controlling interests-$253.0K
Net (loss)/income from discontinued operations attributable to non-controlling interests$36.0K$94.0K-$352.0K
Net loss from continuing operations attributable to J and Friends Holdings Limited shareholders-$489.0K-$318.0K-$5.7M
Net loss from discontinued operations attributable to J and Friends Holdings Limited shareholders-$835.0K-$1.8M-$5.3M
Net loss attributable to J and Friends Holdings Limited shareholders-$1.3M-$2.1M-$11.1M
Foreign currency translation adjustments, net of nil tax-$1.3M$1.6M$3.1M
Total other comprehensive income/(loss)-$1.3M$1.6M$3.1M
Total comprehensive loss-$2.9M-$497.0K-$8.4M
Total comprehensive (loss)/income attributable to non-controlling interest-$226.0K$94.0K-$352.0K
Total comprehensive loss attributable to J and Friends Holdings Limited shareholders-$2.7M-$591.0K-$8.0M
Continued operations - basic-$0-$0-$0
Continued operations - diluted-$0-$0-$0
Discontinued operations - basic-$0-$0-$0
Discontinued operations - diluted-$0-$0-$0
Total net loss per ordinary shares - basic-$0.00-$0.00-$0.02
Total net loss per ordinary shares - diluted-$0.00-$0.00-$0.02
Basic (In shares)582.0M shares554.7M shares494.7M shares
Diluted (In shares)582.0M shares554.7M shares494.7M shares
Foreign currency translation adjustments, tax0 CNY0 CNY0 CNY

Compare J & Friends Holdings Ltd with another company

Corporate structure

J & Friends 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 J & Friends Holdings Ltd

  • Jun Dong Filed SCHEDULE 13D on J & Friends Holdings Ltd, latest Aug 22, 2025 (2 filings since Jan 24, 2022)
  • Wei Wei Filed SCHEDULE 13G/A on J & Friends Holdings Ltd, latest Aug 22, 2025
  • Sina Corporation Filed SC 13G/A on J & Friends Holdings Ltd, latest Jan 31, 2024
  • Otov Alfa Holdings Ltd Filed SC 13D/A on J & Friends Holdings Ltd, latest Jun 2, 2023
  • Tadpole Investing Carnival Ltd Filed SC 13G on J & Friends Holdings Ltd, latest Apr 13, 2023
  • Linkto Tech Ltd Filed SC 13G on J & Friends Holdings Ltd, latest Apr 12, 2023
  • Song-Yi Zhang Filed SC 13G/A on J & Friends Holdings Ltd, latest Feb 11, 2022
  • J & Friends 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 J & Friends 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
Property and equipment, net$12.0K2 Dec 31, 2025$13.0M9 Dec 31, 2022−99.9%
Operating-lease assets (leased space)$99.0K2 Dec 31, 2025$245.0K11 Dec 31, 2024−59.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$3.7M2 Dec 31, 2024$5.7M2 Dec 31, 2023−35.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$3.8M2 Dec 31, 2025$5.0M6 Dec 31, 2019−25.6%
Intangible assets, net (excluding goodwill)$3.7M2 Dec 31, 2025
Finite-lived intangibles, gross$3.8M2 Dec 31, 2025
Accumulated amortization$187.0K2 Dec 31, 2025
Finite-lived intangibles, net$3.7M2 Dec 31, 2025$1.4M9 Dec 31, 2022+155.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$134.0K2 Dec 31, 2025

Leadership

Who has led J & Friends Holdings Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Zexiong Huang2026–now
Board members and other officers (5)

Former names

  • Pintec Technology Holdings LtdDec 13, 2017 to Jan 15, 20263

Timeline

  1. Mar 16, 2026New chief executive Zexiong Huang becomes CEO12

Filings

68 filings to the SEC since October 2021: 5 annual reports, 7 insider forms, 8 large holders, 48 other. The latest 20:

  1. May 8, 2026EFFECT EDGAR
  2. May 7, 20266-K EDGAR
  3. May 6, 2026CORRESP EDGAR
  4. May 4, 2026UPLOAD EDGAR
  5. Apr 27, 2026F-3 EDGAR
  6. Apr 24, 202620-F EDGAR
  7. Apr 21, 20263 EDGAR
  8. Apr 7, 20263 EDGAR
  9. Mar 18, 20263 EDGAR
  10. Mar 17, 20263 EDGAR
  11. Mar 17, 20263 EDGAR
  12. Mar 16, 20263 EDGAR
  13. Mar 16, 20263 EDGAR
  14. Jan 15, 20266-K EDGAR
  15. Jan 9, 20266-K EDGAR
  16. Dec 4, 20256-K EDGAR
  17. Nov 12, 20256-K EDGAR
  18. Oct 24, 20256-K EDGAR
  19. Oct 20, 20256-K EDGAR
  20. Sep 19, 20256-K EDGAR

The 68 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.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Citadel Advisors LLC78,144$82.8K0.0%+17,899
Susquehanna International Group, Llp20,664$21.9K0.0%New
XTX Topco Ltd18,471$19.6K0.0%−6,521
SmartHarvest Portfolios, LLC15,349$16.4K0.0%−2,249
Morgan Stanley11,550$12.4K0.0%No change
Two Sigma Securities, LLC11,254$12.0K0.0%−4,491
Bnp Paribas Financial Markets9,440$10.0K0.0%No change
Integrated Wealth Concepts LLC1,339$1.4K0.0%New
UBS Group AG247$2640.0%−203
Hrt Financial LP17,835$180.0%New
Virtu Financial LLC11,189$120.0%New
Danske Bank A/s1$10.0%No change

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How J & Friends 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 EDGARJ & Friends Holdings Ltd1
  • CIK0001716338
  • Filer statusNon-accelerated filer not an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7370 Services-Computer Programming, Data Processing, Etc.1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address7Th Fl, Tower A Sino Ocean Intl Center, 56 East 4Th Ring Road Middle, Beijing, Chaoyang District, China1
  • Phone86 10856436001
  • Shares outstanding599,465,862 Common Class A shares; 42,439,520 Common Class B shares as of Dec 31, 20254
  • AuditorMarcum Asia CPAs LLP, Beijing, the People’s Republic of China PCAOB ID 5395; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceDec 13, 20171
  • Filings153 in all: 6-K (68), CORRESP (12), UPLOAD (11), SC 13G (10), 20-F (8), SC 13G/A (8), 3 (7), DRSLTR (4)1
    All 26 form types

    DRS/A (3), F-1/A (3), NT 20-F (3), EFFECT (2), 20-F/A (1), 424B4 (1), 6-K/A (1), 8-A12B (1), CERT (1), CT ORDER (1), DRS (1), F-1 (1), F-3 (1), S-8 (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13D (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) Apr 24, 2026

Securities registered for trading

ClassSymbolExchange
American depositary sharesJFThe Nasdaq Stock Market LLC
Class A ordinary sharesThe Nasdaq Stock Market LLC

From the cover page of the 20-F filed Apr 24, 2026 (Section 12(b) of the Exchange Act).4

Sources

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