High Templar Tech Ltd
HTT · Finance Services · EDGAR filings ↗
Grade
C54Cash-rich Chinese holding company whose flattering net margin is an artifact of one-off gains, with no scaled operating business.
Strengths
- $6.5B cash, current ratio 5.75 and net positive income
- ROA 5.2% (89.8 pct) and ROE 6.1% on a strong equity base
Risks
- Operating margin -9.7% and revenue down 81%; net income (RMB709M) driven by non-operating/investment gains, not operations
- Wound down delivery, e-commerce and credit businesses; aircraft leasing sub-scale
- VIE structure, founder control and HFCAA/PRC risk
Notable findings
- Strong balance sheetStrong balance sheet — $927M cash & investments
- Revenue declineRevenue -80.2% YoY
Key metrics
Gross margin
7.1%
Operating margin
-972.6%
Net margin
1729.9%
Return on equity
6.1%
Return on assets
5.2%
Revenue growth (QoQ)
-80.2%
Net-income growth
706.3%
Current ratio
5.8×
EBITDA
-$50M
Tangible book value
$1.7B
Cash & investments
$927M
Stock comp / revenue
0.0%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-04-10 | 2025-12-31 | 0001104659-26-041728 ↗ |
| 20-F | 2025-04-23 | 2024-12-31 | 0001410578-25-000822 ↗ |
| 20-F | 2024-04-29 | 2023-12-31 | 0001104659-24-053259 ↗ |
| 20-F | 2023-04-28 | 2022-12-31 | 0001104659-23-051973 ↗ |
| 20-F | 2022-04-29 | 2021-12-31 | 0001193125-22-133595 ↗ |
| 20-F | 2021-04-29 | 2020-12-31 | 0001193125-21-140342 ↗ |
| 20-F | 2020-04-27 | 2019-12-31 | 0001193125-20-120947 ↗ |
| 20-F | 2019-04-15 | 2018-12-31 | 0001564590-19-011636 ↗ |
| 20-F | 2018-04-09 | 2017-12-31 | 0001193125-18-111507 ↗ |