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RAASY on OTC

Cloopen Group Holding Ltd

Cloopen Group Holding Ltd is a prepackaged software services company in the Cayman Islands.1 Its shares trade on OTC under the symbol RAASY.1

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Last updated Oct 21, 2026.

Overview

$76.6MRevenue, fiscal 20252
-$34.2MNet income, fiscal 20252

Compare with Gorilla Technology Group Inc., NETSOL TECHNOLOGIES INC or Snail, Inc., or pick any stock.

  • TickerRAASY on OTC1
  • IndustryServices-Prepackaged Software1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business address16/F, Tower A, Fairmont Tower, 33 Guangshun N Avenue, Chaoyang District, Beijing, 1001023
  • Filer categoryNon-accelerated filer, Emerging growth company3

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Anxun Guantong (Beijing) Technology Co., Ltd., or Anxun Guantong, a subsidiary wholly-owned by Cloopen Limited, was established in China.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

27.4%Gross margin2
-45.9%Operating margin2
-44.7%Net margin2
-2.5%Revenue growth, 20252
-28.4%Return on equity2
-$33.1MFree cash flow2

What sells

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

Products and services

Cloudbased Contact Center brought in 40% of the revenue Cloopen Group Holding Ltd broke down this way in fiscal 2025.

  1. Cloudbased Contact Center219.2M CNY240%down 18% from 2024
  2. Cloudbased Unified Communications and collaboration162.8M CNY230%up 40% from 2024
  3. Covering Communications Platform As Service Text Messaging80.9M CNY215%down 39% from 2024
  4. Covering Communications Platform As Service Voice Calls42.7M CNY28%up 20% from 2024
  5. Covering Communications Platform As Service Others25.0M CNY25%up 17% from 2024
  6. Covering Communications Platform As Service11.0M CNY22%down 27% from 2024
Products and services by year
Products and services202320242025
Cloudbased Contact Center257.0M CNY268.1M CNY219.2M CNY
Cloudbased Unified Communications and collaboration117.6M CNY116.1M CNY162.8M CNY
Covering Communications Platform As Service Text Messaging136.7M CNY132.2M CNY80.9M CNY
Covering Communications Platform As Service Voice Calls26.0M CNY35.7M CNY42.7M CNY
Covering Communications Platform As Service Others32.8M CNY21.5M CNY25.0M CNY
Covering Communications Platform As Service16.0M CNY15.0M CNY11.0M CNY

Regions

China brought in 96% of the revenue Cloopen Group Holding Ltd broke down this way in fiscal 2025.

  1. China512.2M CNY296%down 6% from 2024
  2. Japan23.5M CNY24%down 21% from 2024
Regions by year
Regions202320242025
China539.9M CNY543.8M CNY512.2M CNY
Japan31.2M CNY29.8M CNY23.5M CNY

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue73¢$55.6M
  • Research and development26¢$19.9M
  • Other costs1¢$979.0K
  • Income tax0¢$117.0K

Out of $76.6M in revenue.2 The company lost money this year.

Financial statements

Revenue567892$76.6M in 2025−35% since 2020
0$50.0M$100.0M$150.0M2020: $117.7M$117.7M20202021: $118.1M$118.1M2021+0%2022: $86.1M$86.1M2022−27%2023: $80.4M$80.4M2023−7%2024: $78.6M$78.6M2024−2%2025: $76.6M$76.6M2025−3%
Gross profit567892$21.0M in 2025−55% since 2020
0$20.0M$40.0M$60.0M2020: $47.0M$47.0M20202021: $42.7M$42.7M2021−9%2022: $32.8M$32.8M2022−23%2023: $28.8M$28.8M2023−12%2024: $28.9M$28.9M2024+0%2025: $21.0M$21.0M2025−27%
Operating income567892-$35.1M in 2025−19% since 2020
-$150.0M-$100.0M-$50.0M02020: -$43.4M-$43.4M20202021: -$143.0M-$143.0M2021+229%2022: -$141.2M-$141.2M2022−1%2023: -$61.5M-$61.5M2023−56%2024: -$27.1M-$27.1M2024−56%2025: -$35.1M-$35.1M2025+30%
Net income567892-$34.2M in 2025−94% since 2020
-$600.0M-$400.0M-$200.0M02020: -$588.4M-$588.4M20202021: -$141.8M-$141.8M2021−76%2022: -$141.3M-$141.3M2022−0%2023: -$57.7M-$57.7M2023−59%2024: -$19.6M-$19.6M2024−66%2025: -$34.2M-$34.2M2025+75%

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 (including related parties amounts of RMB 33,068, RMB 5,994 and RMB 1,377 for the years ended December 31,2020, 2021 and 2022, respectively)535.7M CNY573.6M CNY571.0M CNY
Gross profit146.7M CNY210.8M CNY204.6M CNY
Selling and marketing expenses-142.3M CNY-187.3M CNY-227.5M CNY
General and administrative expenses-111.1M CNY-93.9M CNY-191.1M CNY
Other operating income49.5M CNY
Research and development expenses-139.1M CNY-177.0M CNY-222.5M CNY
Total operating expenses-392.4M CNY-408.7M CNY-641.2M CNY
Operating loss-245.7M CNY-197.8M CNY-436.5M CNY
Interest income10.7M CNY42.2M CNY26.8M CNY
Investment income10.4M CNY11.9M CNY563.0K CNY
Share of gains (losses) of equity method investments-1.6M CNY3.0K CNY-1.5M CNY
Impairment loss of long-term investments-11.1M CNY-8.0M CNY
Gains (losses) from disposal of subsidiaries, net-1.7M CNY403.0K CNY
Foreign currency exchange gains (losses), net-513.0K CNY-3.7M CNY5.7M CNY
Loss before income taxes-239.6M CNY-147.1M CNY-412.9M CNY
Income tax benefit820.0K CNY316.0K CNY564.0K CNY
Net loss-238.8M CNY-146.8M CNY-412.4M CNY
Net income (loss) attributable to non-controlling interests549.0K CNY-4.1M CNY-2.7M CNY
Net loss attributable to Cloopen Group Holding Limited-239.3M CNY-142.8M CNY-409.7M CNY
Net loss attributable to ordinary shareholders-239.3M CNY-142.8M CNY-409.7M CNY
Foreign currency translation adjustment, net of nil income taxes-7.2M CNY965.0K CNY21.3M CNY
Total other comprehensive income (loss)-7.2M CNY965.0K CNY21.3M CNY
Comprehensive loss-246.0M CNY-145.9M CNY-391.1M CNY
Comprehensive income (loss) attributable to non-controlling interests549.0K CNY-4.1M CNY-2.7M CNY
Comprehensive loss attributable to Cloopen Group Holding Limited-246.6M CNY-141.8M CNY-388.4M CNY
Basic-0.74 CNY-0.44 CNY-1.27 CNY
Diluted-0.74 CNY-0.44 CNY-1.27 CNY
Basic323.1M shares322.9M shares321.9M shares
Diluted323.1M shares322.9M shares321.9M shares
Cost of revenues, related parties amounts389.0M CNY362.7M CNY366.4M CNY

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Corporate structure

Cloopen Group Holding 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 Cloopen Group Holding Ltd

  • Cloopen Group Holding Ltd E9

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

What it owns

What Cloopen Group Holding 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, before depreciation34.9M CNY2 Dec 31, 202536.6M CNY2 Dec 31, 2024−4.6%
Accumulated depreciation28.8M CNY2 Dec 31, 202528.4M CNY2 Dec 31, 2024+1.4%
Property and equipment, net$871.0K2 Dec 31, 2025$1.1M9 Dec 31, 2024−22.2%
Operating-lease assets (leased space)$2.0M2 Dec 31, 2025$1.5M9 Dec 31, 2024+36.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$46.4M2 Dec 31, 2025$87.7M9 Dec 31, 2024−47.1%
Marketable securities, current$51.4M2 Dec 31, 2025$39.9M9 Dec 31, 2024+28.9%
Long-term investments$7.6M2 Dec 31, 2025$7.4M9 Dec 31, 2024+2.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$7.8M2 Dec 31, 2025$7.5M9 Dec 31, 2024+4.4%
Intangible assets, net (excluding goodwill)$1.3M2 Dec 31, 2025$1.6M9 Dec 31, 2024−16.6%
Finite-lived intangibles, gross67.2M CNY2 Dec 31, 202567.5M CNY2 Dec 31, 2024−0.5%
Accumulated amortization-29.8M CNY2 Dec 31, 2025-27.7M CNY2 Dec 31, 2024−7.3%
Finite-lived intangibles, net9.3M CNY2 Dec 31, 202511.6M CNY2 Dec 31, 2024−20.1%

Leadership

Who has led Cloopen Group Holding Ltd, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Changxun Sun2026–now

Chief financial officer

  1. Yipeng Li2026–now
Board members and other officers (8)

Timeline

  1. Mar 18, 2026New chief executive Changxun Sun becomes CEO10

Filings

71 filings to the SEC since October 2021: 5 annual reports, 11 insider forms, 9 large holders, 46 other. The latest 20:

  1. Sep 24, 20266-K EDGAR
  2. Aug 21, 2026SC 13E3/A EDGAR
  3. Aug 11, 2026SC 13E3/A EDGAR
  4. Jul 31, 2026SCHEDULE 13D/A EDGAR
  5. Jun 2, 2026SC 13E3 EDGAR
  6. May 13, 2026SCHEDULE 13D/A EDGAR
  7. May 12, 20266-K EDGAR
  8. May 8, 20266-K EDGAR
  9. May 8, 202620-F EDGAR
  10. Apr 30, 2026NT 20-F EDGAR
  11. Mar 18, 20263 EDGAR
  12. Mar 18, 20263 EDGAR
  13. Mar 18, 20263 EDGAR
  14. Mar 18, 20263 EDGAR
  15. Mar 18, 20263 EDGAR
  16. Mar 18, 20263 EDGAR
  17. Mar 18, 20263 EDGAR
  18. Mar 18, 20263 EDGAR
  19. Mar 18, 20263 EDGAR
  20. Mar 18, 20263 EDGAR

The 71 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 Cloopen Group Holding Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARCloopen Group Holding Ltd1
  • CIK0001804583
  • Filer statusNon-accelerated filer an emerging growth company; a shell company4
  • Incorporated inCayman Islands4
  • Fiscal year endsDecember 311
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address16/F, Tower A, Fairmont Tower, 33 Guangshun N Avenue, Chaoyang District, Beijing, 100102, China1
  • Phone8610528231781
  • Shares outstanding316,554,332 Common Class A shares; 25,649,839 Common Class B shares as of Dec 31, 20254
  • AuditorARK PRO CPA & Co, Hong Kong, China PCAOB ID 3299; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceNov 13, 20201
  • Filings100 in all: 6-K (35), 3 (11), CORRESP (9), UPLOAD (9), 20-F (6), SC 13G (6), NT 20-F (4), DRSLTR (2)1
    All 23 form types

    F-1/A (2), SC 13E3/A (2), SCHEDULE 13D/A (2), 25-NSE (1), 424B4 (1), 6-K/A (1), 8-A12B (1), CERT (1), DRS (1), DRS/A (1), EFFECT (1), F-1 (1), S-8 (1), SC 13E3 (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (20-F) May 8, 2026

Securities registered for trading

ClassSymbolExchange
American depositary shares, each representing six Class A ordinary shares, par value US$0.0001 per shareRAASY
Class A ordinary shares, par value US$0.0001 per share*

From the cover page of the 20-F filed May 8, 2026 (Section 12(b) of the Exchange Act).4

Sources

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