MAAS on Nasdaq

Maase Inc.

Maase Inc. is an investment advice company based in George Town, Cayman Islands.²

$12.65 up 0.73 (6.12%)Price as of Oct 15, 2026 at 17:33 UTC

Last updated Oct 21, 2026.

Overview

$109.1MRevenue, fiscal 2025⁴

-$27.4MNet income, fiscal 2025⁴

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TickerMAAS on Nasdaq²
IndustryInvestment Advice²
HeadquartersGeorge Town, Cayman Islands²
Incorporated inCayman Islands⁵
Business address12F, Block B, Longhu Xicheng Tianjie, No. 399 Huazhaobi Xishun Street, Jinniu, Chengdu Sichuan Province, Prc⁵
Filer categoryNon-accelerated filer⁵
Legal formexempt company²
LEI529900TD6NU4PL964H35²
StatusActive²
LEI statusIssued and current²
Registered addressc/o WALKERS CORPORATE LIMITED, 190 Elgin Avenue, KY1-9008 George Town, Cayman Islands²
Registered withGeneral Registry, 340991²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CNY, the currency the company reports in.

Key numbers, fiscal 2025

-88.5%Operating margin⁴

-25.1%Net margin⁴

-33.1%Revenue growth, 2025⁴

-30.8%Return on equity⁴

9.2M CNYFree cash flow⁴

What sells

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

Products and services

Life Insurance Business brought in 80% of the revenue Maase Inc. broke down this way in fiscal 2025.

Life Insurance Business625.1M CNY⁴80%down 24% from 2024
Nonlife Insurance Business102.4M CNY⁴13%up 41% from 2024
Wealth Management And Others53.7M CNY⁴7%down 15% from 2024

Products and services by year

Products and services	2023	2024	2025
Life Insurance Business		827.8M CNY	625.1M CNY
Nonlife Insurance Business		72.4M CNY	102.4M CNY
Wealth Management And Others	114.4M CNY	63.0M CNY	53.7M CNY

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costs

Other costs97¢106.3M CNY
Income tax3¢2.7M CNY

Out of 109.1M CNY in revenue.⁴ The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

Kept or used elsewhere

Capital spending8¢774.0K CNY
Kept or used elsewhere92¢9.2M CNY

Out of 10.0M CNY of cash from operations.⁴

Financial statements

Revenue⁶⁷⁴109.1M CNY in 2025+1211589% since 2021

Operating income⁸⁹⁶⁷⁴-96.5M CNY in 2025+751% since 2021

Net income⁸⁹⁶⁷⁴-27.4M CNY in 2025+283% since 2021

Every line of the income statement as filed: the last 3 fiscal years, latest first.⁴

Period ending	2025-06-30	2024-06-30	2023-06-30
Total net revenues	781.2M CNY	963.2M CNY	114.4M CNY
Total operating costs	-397.4M CNY	-568.3M CNY	-20.3M CNY
Selling expenses	-77.1M CNY	-76.7M CNY	-60.6M CNY
General and administrative expenses	-556.8M CNY	-355.3M CNY	-92.4M CNY
Total operating costs and expenses	-1.0B CNY	-1.0B CNY	-173.2M CNY
Impairment loss	-441.3M CNY	-426.4M CNY
Loss from operations	-691.3M CNY	-463.5M CNY	-58.8M CNY
Gain on disposal of subsidiaries	897.4M CNY
Net loss from fair value change	-279.0K CNY	-73.8M CNY
Derecognition of a contingent consideration	-22.3M CNY
Investment income related to the realized gain on available-for-sale investments	27.5M CNY	22.0M CNY	13.6M CNY
Interest income, net	28.3M CNY	16.3M CNY	8.6M CNY
Others, net	-591.7M CNY	-2.1M CNY	1.7M CNY
Loss before income taxes and share of loss of affiliates	-352.4M CNY	-501.1M CNY	-35.0M CNY
Income tax benefit (expense)	19.6M CNY	-13.5M CNY	-8.6M CNY
Share of loss of affiliates	-3.8M CNY	-1.2M CNY
Net loss from continuing operations	-336.6M CNY	-515.8M CNY	-43.6M CNY
Net Income (loss) from discontinued operations, net of tax	-122.3M CNY	3.8M CNY
Foreign currency translation adjustments	-1.5M CNY	583.0K CNY	560.0K CNY
Unrealized net loss on available-for-sale investments	-2.2M CNY	-3.0M CNY
Disposal of subsidiaries	-5.0K CNY
Continuing operations	-172.7M CNY	-224.5M CNY
Discontinued operations	-90.3M CNY	2.1M CNY
Net loss attributable to owners of the Company	-196.0M CNY	-289.7M CNY	-43.6M CNY
Continuing operations	-163.9M CNY	-291.4M CNY	-43.6M CNY
Discontinued operations	-32.1M CNY	1.7M CNY
Accretion of redeemable ordinary shares	-2.1M CNY	-826.0K CNY
Net loss attributable to ordinary shareholders of the Company	-198.1M CNY	-290.5M CNY	-43.6M CNY
Continuing operations (in Dollars per share and Yuan Renminbi per share)	-22 CNY	-113 CNY	-43 CNY
Discontinued operations (in Dollars per share and Yuan Renminbi per share)	-4 CNY	1 CNY
Total basic (in Dollars per share and Yuan Renminbi per share)	-26.03 CNY	-112.32 CNY	-43.35 CNY
Continuing operations (in Dollars per share and Yuan Renminbi per share)	-22 CNY	-114 CNY	-43 CNY
Discontinued operations (in Dollars per share and Yuan Renminbi per share)	-4 CNY	1 CNY
Total diluted (in Dollars per share and Yuan Renminbi per share)	-25.86 CNY	-113.55 CNY	-43.35 CNY
Basic: (in Shares)	7.6M shares	2.6M shares	1.0M shares
Diluted: (in Shares)	7.6M shares	2.6M shares	1.0M shares
Net loss	-458.9M CNY	-512.1M CNY	-43.6M CNY
Total comprehensive loss	-462.6M CNY	-514.5M CNY	-43.0M CNY
Less: Comprehensive loss attributable to the noncontrolling interests	-262.9M CNY	-222.4M CNY
Comprehensive loss attributable to ordinary shareholders the Company	-199.7M CNY	-292.1M CNY	-43.0M CNY

Total assets⁸⁹⁶⁷⁴469.9M CNY in 2025+548% since 2021

Total liabilities⁸⁹⁶⁷⁴164.4M CNY in 2025+619% since 2021

Shareholders’ equity⁸⁹⁶⁷⁴88.8M CNY in 2025+79% since 2021

Cash⁸⁹⁴⁷11.5M CNY in 2025−74% since 2020

Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.⁴

Period ending	2025-06-30	2024-06-30	2023-06-30	2022-06-30
Cash and cash equivalents	82.1M CNY	220.3M CNY
Restricted cash (including restricted cash of the consolidated VIEs and VIEs subsidiaries that can only be used to settle obligations of the VIEs of RMB 10,409 and RMB3,864 as of June 30, 2024 and 2025, respectively)	6.9M CNY	47.9M CNY
Short term investments (including investments measured at fair value of RMB570,216 and RMB548,101 as of June 30, 2024 and 2025, respectively)	548.1M CNY	573.9M CNY
Accounts receivable, net of allowances of RMB886 and RMB2,291 as of June 30, 2024 and 2025, respectively	92.8M CNY	188.2M CNY
Contract assets, net of allowances of RMB21 and nil as of June 30, 2024 and 2025, respectively	208.8M CNY	323.2M CNY
Other receivables, net	920.2M CNY	23.4M CNY
Loan receivables, net	318.6M CNY	774.1M CNY
Other current assets	23.9M CNY	39.3M CNY
Current assets of discontinued operations		195.1M CNY
Total current assets	2.2B CNY	2.4B CNY
Contract assets - non-current, net of allowances of nil and nil as of June 30, 2024 and 2025, respectively	612.9M CNY	726.9M CNY
Property, plant, and equipment, net	70.5M CNY	79.6M CNY
Intangible assets, net	846.0K CNY	417.6M CNY
Goodwill, net		116.2M CNY
Deferred tax assets	9.4M CNY	30.2M CNY
Investments in affiliates		8.5M CNY
Other non-current assets	392.6M CNY	218.8M CNY
Right of use assets	62.0M CNY	105.2M CNY
Non-current assets of discontinued operations		164.3M CNY
Total non-current assets	1.2B CNY	1.9B CNY
Total assets	3.4B CNY	4.3B CNY
Short-term loan	82.0M CNY	98.4M CNY
Accounts payable (including accounts payable of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB5,053 and RMB1,768 as of June 30, 2024 and 2025, respectively)	116.7M CNY	194.4M CNY
Other payables and accrued expenses (including other payables and accrued expenses of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB4,175 and RMB1,200 as of June 30, 2024 and 2025, respectively)	155.6M CNY	170.3M CNY
Accrued payroll (including accrued payroll of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB6,242 and RMB1,938 as of June 30, 2024 and 2025, respectively)	13.2M CNY	30.1M CNY
Current operating lease liability (including current operating lease liability of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB4,967 and RMB1,124 as of June 30, 2024 and 2025, respectively)	29.3M CNY	47.3M CNY
Current liabilities of discontinued operations (including current liabilities of discontinued operations of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of nil and nil as of June 30, 2024 and 2025, respectively)		63.0M CNY
Total current liabilities	574.0M CNY	851.0M CNY
Other non-current liabilities (including other non-current liabilities of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB639 and RMB nil as of June 30, 2024 and 2025, respectively)		33.4M CNY
Total non-current liabilities	603.9M CNY	787.2M CNY
Total liabilities	1.2B CNY	1.6B CNY
Redeemable ordinary shares (US$0.09 par value, 22,175 and 22,175 Class A ordinary shares issued and outstanding as of June 30, 2024 and 2025, respectively) (Note 17)*	47.9M CNY	45.8M CNY
Treasury stock	-29.0K CNY	-29.0K CNY
Additional paid-in capital	1.1B CNY	1.6B CNY
Statutory reserves	23.2M CNY	23.1M CNY
Accumulated deficit	-517.4M CNY	-321.3M CNY
Accumulated other comprehensive loss	-6.0M CNY	-2.3M CNY
Total Maase Inc. shareholders equity	636.1M CNY	1.3B CNY
Noncontrolling interests	1.5B CNY	1.3B CNY
Total shareholders equity	2.1B CNY	2.6B CNY	217.0M CNY	260.1M CNY
Total liabilities, mezzanine equity and shareholders equity	3.4B CNY	4.3B CNY
Short term investments, fair value	548.1M CNY	570.2M CNY
Accounts receivable, net of allowances	2.3M CNY	886.0K CNY
Contract assets, net of allowances		21.0K CNY
Restricted bank deposit - non-current	16.3M CNY	25.3M CNY
Accrued commissions	99.9M CNY	148.1M CNY
Income taxes payable	77.3M CNY	88.9M CNY
Other current liabilities	34.0K CNY	10.5M CNY
Accrued commissions non-current	339.5M CNY	408.4M CNY
Other tax liabilities, non-current	30.2M CNY	41.4M CNY
Deferred tax liabilities	204.3M CNY	235.5M CNY
Non-current operating lease liability	29.9M CNY	53.9M CNY
Non-current liabilities of discontinued operations		14.6M CNY

Period ending	2025-06-30	2024-06-30	2023-06-30	2022-06-30
Cash and cash equivalents	82.1M CNY	220.3M CNY
Restricted cash (including restricted cash of the consolidated VIEs and VIEs subsidiaries that can only be used to settle obligations of the VIEs of RMB 10,409 and RMB3,864 as of June 30, 2024 and 2025, respectively)	6.9M CNY	47.9M CNY
Short term investments (including investments measured at fair value of RMB570,216 and RMB548,101 as of June 30, 2024 and 2025, respectively)	548.1M CNY	573.9M CNY
Accounts receivable, net of allowances of RMB886 and RMB2,291 as of June 30, 2024 and 2025, respectively	92.8M CNY	188.2M CNY
Contract assets, net of allowances of RMB21 and nil as of June 30, 2024 and 2025, respectively	208.8M CNY	323.2M CNY
Other receivables, net	920.2M CNY	23.4M CNY
Loan receivables, net	318.6M CNY	774.1M CNY
Other current assets	23.9M CNY	39.3M CNY
Current assets of discontinued operations		195.1M CNY
Total current assets	2.2B CNY	2.4B CNY
Contract assets - non-current, net of allowances of nil and nil as of June 30, 2024 and 2025, respectively	612.9M CNY	726.9M CNY
Property, plant, and equipment, net	70.5M CNY	79.6M CNY
Intangible assets, net	846.0K CNY	417.6M CNY
Goodwill, net		116.2M CNY
Deferred tax assets	9.4M CNY	30.2M CNY
Investments in affiliates		8.5M CNY
Other non-current assets	392.6M CNY	218.8M CNY
Right of use assets	62.0M CNY	105.2M CNY
Non-current assets of discontinued operations		164.3M CNY
Total non-current assets	1.2B CNY	1.9B CNY
Total assets	3.4B CNY	4.3B CNY
Short-term loan	82.0M CNY	98.4M CNY
Accounts payable (including accounts payable of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB5,053 and RMB1,768 as of June 30, 2024 and 2025, respectively)	116.7M CNY	194.4M CNY
Other payables and accrued expenses (including other payables and accrued expenses of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB4,175 and RMB1,200 as of June 30, 2024 and 2025, respectively)	155.6M CNY	170.3M CNY
Accrued payroll (including accrued payroll of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB6,242 and RMB1,938 as of June 30, 2024 and 2025, respectively)	13.2M CNY	30.1M CNY
Current operating lease liability (including current operating lease liability of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB4,967 and RMB1,124 as of June 30, 2024 and 2025, respectively)	29.3M CNY	47.3M CNY
Current liabilities of discontinued operations (including current liabilities of discontinued operations of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of nil and nil as of June 30, 2024 and 2025, respectively)		63.0M CNY
Total current liabilities	574.0M CNY	851.0M CNY
Other non-current liabilities (including other non-current liabilities of the consolidated VIEs and VIEs subsidiaries without recourse to the Company of RMB639 and RMB nil as of June 30, 2024 and 2025, respectively)		33.4M CNY
Total non-current liabilities	603.9M CNY	787.2M CNY
Total liabilities	1.2B CNY	1.6B CNY
Redeemable ordinary shares (US$0.09 par value, 22,175 and 22,175 Class A ordinary shares issued and outstanding as of June 30, 2024 and 2025, respectively) (Note 17)*	47.9M CNY	45.8M CNY
Treasury stock	-29.0K CNY	-29.0K CNY
Additional paid-in capital	1.1B CNY	1.6B CNY
Statutory reserves	23.2M CNY	23.1M CNY
Accumulated deficit	-517.4M CNY	-321.3M CNY
Accumulated other comprehensive loss	-6.0M CNY	-2.3M CNY
Total Maase Inc. shareholders equity	636.1M CNY	1.3B CNY
Noncontrolling interests	1.5B CNY	1.3B CNY
Total shareholders equity	2.1B CNY	2.6B CNY	217.0M CNY	260.1M CNY
Total liabilities, mezzanine equity and shareholders equity	3.4B CNY	4.3B CNY
Short term investments, fair value	548.1M CNY	570.2M CNY
Accounts receivable, net of allowances	2.3M CNY	886.0K CNY
Contract assets, net of allowances		21.0K CNY
Restricted bank deposit - non-current	16.3M CNY	25.3M CNY
Accrued commissions	99.9M CNY	148.1M CNY
Income taxes payable	77.3M CNY	88.9M CNY
Other current liabilities	34.0K CNY	10.5M CNY
Accrued commissions non-current	339.5M CNY	408.4M CNY
Other tax liabilities, non-current	30.2M CNY	41.4M CNY
Deferred tax liabilities	204.3M CNY	235.5M CNY
Non-current operating lease liability	29.9M CNY	53.9M CNY
Non-current liabilities of discontinued operations		14.6M CNY

Cash from operations⁸⁹⁴⁷10.0M CNY in 2025

Capital spending⁸⁹⁶⁷⁴774.0K CNY in 2025−41% since 2021

Free cash flow⁸⁹⁴⁷9.2M CNY in 2025

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁴

Period ending	2025-06-30	2024-06-30	2023-06-30
Net loss	-458.9M CNY	-512.1M CNY	-43.6M CNY
Depreciation expense	9.4M CNY	8.4M CNY	3.5M CNY
Amortization of intangible assets	92.2M CNY	50.8M CNY	848.0K CNY
Non-cash operating lease expense	47.6M CNY	37.1M CNY	8.8M CNY
Loss on termination of operating lease	702.0K CNY	1.0M CNY
Provision for allowance for credit losses on financial assets	615.8M CNY	6.8M CNY
Impairment of long-term investment	5.2M CNY
Impairment loss on goodwill and intangible assets	568.2M CNY	426.4M CNY
Share-based compensation expenses	73.1M CNY	23.3M CNY
Loss on disposal of property, plant and equipment	1.2M CNY	1.3M CNY	3.0M CNY
Change in fair value of equity investments and contingent consideration	431.0K CNY	73.8M CNY
Provision (reversal) on uncertain tax liability	-11.2M CNY	-2.8M CNY	260.0K CNY
Investment income	-5.6M CNY	-5.8M CNY	177.0K CNY
Net gain on disposal of subsidiaries	-902.0M CNY	-329.0K CNY	-13.7M CNY
Share of loss of affiliates	3.9M CNY	1.1M CNY
Deferred taxes	-5.2M CNY	9.3M CNY	15.6M CNY
Interest accrued for other receivables and loan receivables	-29.4M CNY	-10.9M CNY
Interest expenses	4.6M CNY
Loss on disposal of investment in an associate	4.3M CNY
Accounts receivable and contract assets	286.0M CNY	67.4M CNY	21.9M CNY
Other receivables and current assets	-261.9M CNY	8.8M CNY	5.4M CNY
Other non-current assets	734.0K CNY	19.9M CNY
Accounts payable and accrued commissions	-165.4M CNY	-61.6M CNY	-5.4M CNY
Other payables and accrued expenses	263.8M CNY	-38.1M CNY	-6.3M CNY
Other current liabilities	-36.9M CNY	-4.4M CNY	-6.3M CNY
Income taxes payable	-5.2M CNY	-5.2M CNY	-1.8M CNY
Lease liability	-46.5M CNY	-36.5M CNY	-7.7M CNY
Derecognition of a contingent consideration	22.3M CNY
Net cash (used in) generated from operating activities	71.5M CNY	57.7M CNY	-25.4M CNY
Purchase of short term investments	-201.3M CNY	-1.7B CNY
Proceeds from disposal of short term investments	202.4M CNY	2.1B CNY	4.8M CNY
Purchase of property, plant and equipment	-5.5M CNY	-4.3M CNY	-881.0K CNY
Proceeds from disposal of property and equipment	3.8M CNY	470.0K CNY
Cash paid out for loan receivables from third parties	-188.0M CNY	-838.8M CNY	-110.0M CNY
Cash received for loan receivables from third parties	30.5M CNY	145.5M CNY	110.0M CNY
Prepaid for intangible assets			-20.0K CNY
Purchase of intangible assets	-637.0K CNY		-977.0K CNY
Cash received from disposal of an Equity investment	353.0K CNY
Proceeds from disposal of subsidiaries, net of cash disposed	-168.6M CNY	-12.8M CNY	-7.9M CNY
Payment for purchase of additional shares of subsidiary	-105.0K CNY
Cash acquired on non-cash acquisitions	39.0K CNY	601.9M CNY
Net cash (used in) generated from investing activities	-327.1M CNY	234.2M CNY	-5.0M CNY
Proceeds of issuance of ordinary shares upon private placement	3.0M CNY	45.0M CNY
Proceeds from bank borrowings	36.6M CNY	98.4M CNY
Repayment of bank borrowings and other borrowings	-57.5M CNY	-164.3M CNY
Dividend distributed to noncontrolling interest		-29.5M CNY
Repurchase of ordinary shares from open market		-10.0M CNY
Proceeds on exercise of stock options	75.0K CNY
Disposal of shares of subsidiary	3.6M CNY
Acquisition of non-controlling interests in subsidiaries		-26.4M CNY
Net cash used in financing activities	-14.2M CNY	-86.8M CNY
Net (decrease) increase in cash and cash equivalents, and restricted cash	-269.8M CNY	205.1M CNY	-30.3M CNY
Income taxes paid	10.3M CNY	5.2M CNY	4.0K CNY
Interests paid	4.6M CNY	960.0K CNY
Right-of-use assets obtained in exchange for lease obligations, net of decrease of right-of-use assets for early terminations	2.3M CNY	9.7M CNY	8.0M CNY
Acquisition of subsidiaries through issuing ordinary shares		2.3B CNY
Effect of exchange rate changes on cash and cash equivalents	4.7M CNY	873.0K CNY	560.0K CNY

Compare Maase Inc. with another company

Corporate structure

Maase Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Maase Inc.

Baron Ren Filed SCHEDULE 13D/A on Maase Inc., latest Aug 14, 2026 (5 filings since Sep 5, 2025)
Dejun Yu Filed SCHEDULE 13D/A on Maase Inc., latest Aug 14, 2026 (5 filings since Sep 16, 2025)
Arts Wing Ltd Filed SCHEDULE 13D/A on Maase Inc., latest Apr 9, 2026 (3 filings since Nov 10, 2025)
Chee Wee Yap Filed SCHEDULE 13G on Maase Inc., latest Apr 6, 2026
Yif Liu Filed SCHEDULE 13G/A on Maase Inc., latest Apr 3, 2026 (2 filings since Aug 1, 2025)
Jianguo Cheng Filed SCHEDULE 13D/A on Maase Inc., latest Jan 5, 2026 (3 filings since Sep 15, 2022)
Equality Group Ltd Filed SCHEDULE 13D/A on Maase Inc., latest Oct 30, 2025 (4 filings since Jan 15, 2025)
Moonlit Group Ltd Filed SCHEDULE 13D/A on Maase Inc., latest Oct 30, 2025 (4 filings since Jan 15, 2025)
Yinan Hu Filed SCHEDULE 13D/A on Maase Inc., latest Sep 23, 2025 (4 filings since Jan 5, 2024)
KINGSFORD RESOURCES LTD Filed SCHEDULE 13G/A on Maase Inc., latest Feb 28, 2025 (2 filings since Jan 5, 2024)
Peng Ge Filed SCHEDULE 13G/A on Maase Inc., latest Feb 28, 2025 (2 filings since Jan 5, 2024)
Haifeng Yu Filed SCHEDULE 13G/A on Maase Inc., latest Feb 14, 2025 (2 filings since Jan 10, 2023)

Maase Inc. George Town, Cayman Islands
- AIFU Inc. Stake · E9

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Maase Inc. 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

Item	Latest	A year before	Change
Buildings and improvements	10.5M CNY⁴ Jun 30, 2025	11.0M CNY⁴ Jun 30, 2024	−4.4%
Furniture and fixtures	8.7M CNY⁴ Jun 30, 2025	10.2M CNY⁴ Jun 30, 2024	−14.7%
Computer equipment and software	96.6M CNY⁴ Jun 30, 2025	96.0M CNY⁴ Jun 30, 2024	+0.7%
Leasehold improvements	6.0M CNY⁴ Jun 30, 2025	6.8M CNY⁴ Jun 30, 2024	−11.8%
Construction in progress	53.6M CNY⁴ Jun 30, 2025	53.6M CNY⁴ Jun 30, 2024	0%
Property and equipment, net	$9.8M⁴ Jun 30, 2025	$11.9M⁷ Jun 30, 2024	−17.5%
Operating-lease assets (leased space)	$8.6M⁴ Jun 30, 2025	$16.8M⁷ Jun 30, 2024	−48.6%

Investments

Item	Latest	A year before	Change
Cash and cash equivalents	$11.5M⁴ Jun 30, 2025	$40.7M⁷ Jun 30, 2024	−71.8%
Marketable securities, current	$76.5M⁴ Jun 30, 2025	$80.3M⁷ Jun 30, 2024	−4.8%
Stakes in other companies (equity method)	$1,000.0T⁴ Jun 30, 2025

Intangibles and goodwill

Item	Latest	A year before	Change
Goodwill	$33.5M⁷ Jun 30, 2024
Intangible assets, net (excluding goodwill)	$118.0K⁴ Jun 30, 2025	$57.5M⁷ Jun 30, 2024	−99.8%
Licenses, net	86.9M CNY⁴ Jun 30, 2025	89.1M CNY⁴ Jun 30, 2024	−2.5%

Leadership

Who has led Maase Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

Guotao Liu2026–now

Chief financial officer

Jiaxing Shi2026–now

Chief executive officerGuotao Liu Mar 19, 2026 to now¹⁰
Chief financial officerJiaxing Shi Mar 18, 2026 to now¹¹

Board members and other officers (4)

Chief Technology OfficerZhifeng Li Aug 11, 2026 to now¹²
Board memberKwan Pui Chui Mar 18, 2026 to now¹³
Board memberPei Yu Mar 18, 2026 to now¹⁴
Board memberJingkai Li Mar 20, 2026 to now¹⁵

Former names

Highest Performances Holdings Inc.Mar 13, 2024 to May 20, 2025⁵
PUYI, INC.Oct 1, 2018 to Mar 13, 2024⁵

Timeline

Mar 19, 2026New chief executive Guotao Liu becomes CEO¹⁰
Aug 6, 2018Founded Maase Inc. is founded²

Filings

155 filings to the SEC since October 2021: 4 annual reports, 9 insider forms, 41 large holders, 101 other. The latest 20:

Oct 15, 20263 OWNERSHIP DOCUMENT EDGAR
Oct 13, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Oct 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Sep 23, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Aug 21, 2026EFFECT EDGAR
Aug 14, 2026SCHEDULE 13D/A EDGAR
Aug 14, 2026SCHEDULE 13D/A EDGAR
Aug 11, 20263 EDGAR
Aug 7, 2026F-3 REGISTRATION STATEMENT EDGAR
Aug 5, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Aug 5, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Aug 4, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jul 17, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jul 9, 2026SCHEDULE 13D/A EDGAR
Jun 23, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Jun 12, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
Apr 9, 2026SCHEDULE 13D/A EDGAR
Apr 6, 2026SCHEDULE 13G EDGAR
Apr 3, 2026SCHEDULE 13G/A EDGAR
Mar 31, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR

The 155 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.

Baron RenSCHEDULE 13D/A, 5 filings Sep 5, 2025 to Aug 14, 2026¹⁶
Dejun YuSCHEDULE 13D/A, 5 filings Sep 16, 2025 to Aug 14, 2026¹⁷
Arts Wing LtdSCHEDULE 13D/A, 3 filings Nov 10, 2025 to Apr 9, 2026¹⁸
Chee Wee YapSCHEDULE 13G, 1 filing Apr 6, 2026¹⁹
Yif LiuSCHEDULE 13G/A, 2 filings Aug 1, 2025 to Apr 3, 2026²⁰
Jianguo ChengSCHEDULE 13D/A, 3 filings Sep 15, 2022 to Jan 5, 2026²¹
Equality Group LtdSCHEDULE 13D/A, 4 filings Jan 15, 2025 to Oct 30, 2025²²
Moonlit Group LtdSCHEDULE 13D/A, 4 filings Jan 15, 2025 to Oct 30, 2025²³
Yinan HuSCHEDULE 13D/A, 4 filings Jan 5, 2024 to Sep 23, 2025²⁴
KINGSFORD RESOURCES LTDSCHEDULE 13G/A, 2 filings Jan 5, 2024 to Feb 28, 2025²⁵
Peng GeSCHEDULE 13G/A, 2 filings Jan 5, 2024 to Feb 28, 2025²⁶
Haifeng YuSCHEDULE 13G/A, 2 filings Jan 10, 2023 to Feb 14, 2025²⁷
Jia LiuSC 13G/A, 2 filings Sep 15, 2022 to Feb 5, 2024²⁸
Lin YangSC 13G/A, 2 filings Sep 15, 2022 to Feb 5, 2024²⁹

Stakes it holds

Maase Inc. has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

AIFU Inc.SCHEDULE 13D/A Jan 5, 2024 to Jan 13, 2026³⁰

SEC filer profile

How Maase Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

Name on EDGARMaase Inc.¹
CIK0001750264
Filer statusNon-accelerated filer not an emerging growth company; not a shell company³¹
Incorporated inCayman Islands³¹
Fiscal year endsJune 30¹
Industry code (SIC)6282 Investment Advice¹
SEC reviewing officeOffice of Finance, Division of Corporation Finance¹
Business address12F, Block B, Longhu Xicheng Tianjie, No. 399 Huazhaobi Xishun Street, Jinniu, Chengdu Sichuan Province, Prc, China¹
Phone86-020-28381666¹
Shares outstanding15,917,241 shares as of Jun 30, 2025³¹
AuditorEnrome LLP, Singapore PCAOB ID 6907; it also attests to the company’s internal control over financial reporting³¹
On EDGAR sinceOct 1, 2018¹
Filings204 in all: 6-K (72), SCHEDULE 13D/A (25), CORRESP (15), UPLOAD (12), 3 (9), 20-F (7), SC 13G (7), F-3/A (6)¹
All 32 form types
F-1/A (5), SCHEDULE 13D (5), 6-K/A (4), EFFECT (4), SC 13G/A (4), SCHEDULE 13G/A (4), 144 (2), 424B3 (2), DRSLTR (2), F-3 (2), F-6/A (2), SC 13D (2), SCHEDULE 13G (2), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), F-1 (1), F-6 (1), F-6 POS (1), NT 20-F (1), S-8 (1), SC 13D/A (1)
Latest filingsAnnual report (20-F) Oct 29, 2025

Securities registered for trading

Class	Symbol	Exchange
Class A Ordinary Shares, par value $0.09 per share	MAAS	Nasdaq Global Market

From the cover page of the 20-F filed Oct 29, 2025 (Section 12(b) of the Exchange Act).³¹

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARMaase Inc. filings on SEC EDGAR
2
GLEIFMaase Inc. LEI record (529900TD6NU4PL964H35)
3
Yahoo FinanceMAAS quote
4
SEC EDGARMaase Inc. 10-K for fiscal 2025
5
SEC EDGARMaase Inc. filings on SEC EDGAR
6
SEC EDGARMaase Inc. 10-K for fiscal 2021
7
SEC EDGARMaase Inc. 10-K for fiscal 2024
8
SEC EDGARMaase Inc. 10-K for fiscal 2021
9
SEC EDGARMaase Inc. 10-K for fiscal 2022
10
SEC EDGARGuotao Liu, Chief executive officer
11
SEC EDGARJiaxing Shi, Chief financial officer
12
SEC EDGARZhifeng Li, Chief Technology Officer
13
SEC EDGARKwan Pui Chui, Board member
14
SEC EDGARPei Yu, Board member
15
SEC EDGARJingkai Li, Board member
16
SEC EDGARBaron Ren SCHEDULE 13D/A on Maase Inc.
17
SEC EDGARDejun Yu SCHEDULE 13D/A on Maase Inc.
18
SEC EDGARArts Wing Ltd SCHEDULE 13D/A on Maase Inc.
19
SEC EDGARChee Wee Yap SCHEDULE 13G on Maase Inc.
20
SEC EDGARYif Liu SCHEDULE 13G/A on Maase Inc.
21
SEC EDGARJianguo Cheng SCHEDULE 13D/A on Maase Inc.
22
SEC EDGAREquality Group Ltd SCHEDULE 13D/A on Maase Inc.
23
SEC EDGARMoonlit Group Ltd SCHEDULE 13D/A on Maase Inc.
24
SEC EDGARYinan Hu SCHEDULE 13D/A on Maase Inc.
25
SEC EDGARKINGSFORD RESOURCES LTD SCHEDULE 13G/A on Maase Inc.
26
SEC EDGARPeng Ge SCHEDULE 13G/A on Maase Inc.
27
SEC EDGARHaifeng Yu SCHEDULE 13G/A on Maase Inc.
28
SEC EDGARJia Liu SC 13G/A on Maase Inc.
29
SEC EDGARLin Yang SC 13G/A on Maase Inc.
30
SEC EDGARMaase Inc. SCHEDULE 13D/A on AIFU Inc.
31
SEC EDGARMaase Inc. 20-F filed Oct 29, 2025: cover page