Big Tree Cloud Holdings Ltd
DSY, DSYWW · Converted Paper & Paperboard Prods (No Contaners/Boxes) · EDGAR filings ↗
Grade
F34China personal-care micro-cap with a catastrophic loss year, collapsing revenue, and near-cash-out liquidity.
Strengths
- Maintains positive gross margin (~32%) on its product lines
- One-off disposal gains provided some other income
Risks
- Net loss of $32.5M on $2.6M revenue (net margin -1,272%) driven by $34.7M selling/share-based comp; ROE -187% (0.1 pct)
- Revenue down 65%, severe customer concentration (top four ~71%), and ~1.0 quarter of cash runway
Notable findings
- No interest coverageInterest coverage -581.70 (cannot cover interest)
- Net lossNet loss (net margin -1272.1%)
- Cash burnNegative free cash flow (-7.0M)
- Customer concentration~41% of revenue from one customer/distributor — For the fiscal year ended June 30, 2024, one customer accounted for approximately 41% of our total revenue
Key metrics
Gross margin
32.2%
Operating margin
-1494.3%
Net margin
-1272.1%
Return on equity
-18756.7%
Return on assets
-296.2%
Interest coverage
-581.7×
Current ratio
1.1×
Free cash flow
-$7M
EBITDA
-$38M
Tangible book value
-$2M
Cash & investments
$2M
Cash runway
1q
Stock comp / revenue
1338.4%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-10-30 | 2025-06-30 | 0001213900-25-104178 ↗ |
| 20-F | 2024-10-25 | 2024-06-30 | 0001213900-24-090783 ↗ |
| 20-F | 2024-06-12 | 2024-06-06 | 0001213900-24-052153 ↗ |