(Amendment No. 1)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
On January 5, 2026, Boqii Holding Limited. (the
“Company”) furnished a Report on Form 6-K (the “Original 6-K”) that attached a press release (the “Press
Release”) announcing its unaudited financial results for the six months ended September 30, 2025. This Report on Form 6-K/A (the
“6-K/A”) amends the Original 6-K solely for the purpose of correcting the prior version of the Press Release issued on January
5, 2026 in order to reflect the share consolidation effected on July 11, 2025 in connection with the termination of the Company’s
ADR program, pursuant to which every 160 Class A ordinary shares of a par value of US$0.001 each were consolidated into one new Class
A ordinary share of a par value of US$0.16 each. Other than the corrections discussed in this 6-K/A, no other changes have been made to
the Original 6-K or the exhibit furnished therewith.
The corrected Press Release announcing the Company’s
unaudited financial results for the six months ended September 30, 2025 is furnished as Exhibit 99.1 to this 6-K/A and is incorporated
herein by reference.
This report on Form 6-K, including any amendment
and report filed for the purpose of updating such documents, shall be incorporated by reference into the registration statement on Form
F-3, as amended (File No. 333-291648), of the Company, and to be a part thereof from the date on which this report on Form 6-K is
furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
/C O R R E C T I O N -- Boqii Holding Limited/
This press release amends the prior version of
the press release issued on January 5, 2026 in order to reflect the share consolidation effected on July 11, 2025 in connection with
the termination of the Company’s ADR program, pursuant to which every 160 Class A ordinary shares of a par value of US$0.001 each
were consolidated into one new Class A ordinary share of a par value of US$0.16 each. The updated release reads:
Boqii Announces Fiscal 2026 First Half Unaudited
Financial Results
SHANGHAI, March 27, 2026 (PR Newswire)—Boqii
Holding Limited (“We,” “Boqii” or the “Company”) (NYSE American: BQ), a leading pet-focused platform
in China, today announced its unaudited financial results for the first half of fiscal 2026 (i.e., the six months ended September
30, 2025).
Fiscal 2026 First
Half Operational and Financial Highlights
| ● | Total
revenues were RMB207.9 million (US$29.2 million), compared to RMB249.7 million in the
first half of fiscal 2025. |
| ● | Gross
margin was 25.9%, representing an increase of 520 basis points from 20.7% for the first
half of fiscal 2025. |
| ● | Loss
from operations was RMB16.9 million (US$2.4 million), representing a decrease of 37.4%
from RMB27.0 million for the first half of fiscal 2025. |
| ● | Net
loss1 was RMB7.4 million (US$1.0 million), representing a decrease of 75.1%
from RMB29.6 million in the first half of fiscal 2025. |
| ● | Diluted
net loss per share was RMB3.78 (US$0.53), compared to diluted net loss per share of RMB44.1
for the first half of fiscal 2025. |
| ● | EBITDA2
was a loss of RMB5.6 million (US$0.8 million), representing a decrease of 77.6% from a loss
of RMB 25.0 million in the first half of fiscal 2025. |
| ● | Total
GMV3 was RMB376.4 million (US$52.9 million), compared to RMB538.2 million
in the first half of fiscal 2025. |
CEO
& CFO Quote
Mr. Hao Liang, Boqii’s Founder, Chairman
and Chief Executive Officer commented, “Amidst persistently challenging market conditions and weakened consumption sentiment during
the first half of fiscal 2026, we believe we have actively executed our strategic initiatives, demonstrating strong resilience. We are
pleased to report a significant enhancement in our gross margin, which has increased to 25.9%, a gain of 520 basis points from 20.7% for
the first half of fiscal 2025. Furthermore, our focused strategy on private labels has yielded strong results, the number of SKUs for
our private labels has increased from 3,546 in the first half of fiscal 2025 to 4,427 in the first half of fiscal 2026, and the gross
margin of our private labels also recorded a substantial rise, reaching 44.5%, an increase of 1,130 basis points from 33.2% in the prior-year
period. We believe these achievements provide a solid foundation for sustainable growth and reinforce our confidence in the path ahead
for our company.”
Ms. Yingzhi (Lisa) Tang, Boqii’s Co-Founder,
Co-CEO and CFO commented, “In addition to advancing our private label initiatives, we optimized our supply chain management capabilities
in the first half of fiscal 2026 by utilizing more fulfillment centers to enhance order processing efficiency. These measures drove a
31.0% reduction in fulfillment expenses, which decreased as a percentage of revenue from 7.5% to 6.2% year-over-year. This improvement
supported a significant expansion in our post-fulfillment gross margin, which increased from 13.3% to 19.7%. As a result of these efforts,
the net loss was narrowed significantly to RMB 7.4 million, down 75.1% from RMB 29.6 million in the first half of fiscal 2025. We believe
the steady improvement in our operational profitability validates our strategy and execution, and we remain committed to creating sustained
value for both consumers and investors going forward.”
| 1 |
Net loss for the first half of fiscal 2026 excluded Nanjing Xingmu Biotechnology Co., Ltd. (“Nanjing Xingmu”), as the Company disposed the entity effective April 1, 2025 (as described below). Net loss for the first half of fiscal 2025 included Nanjing Xingmu’s net loss of RMB1.9 million. |
| 2 |
EBITDA refers to net income/(loss) excluding income tax expenses, interest expense, interest income, depreciation and amortization expenses. EBITDA is a Non-GAAP financial measurement. See the section titled “Non-GAAP Financial Measures” for more information about EBITDA. |
| 3 |
GMV refers to gross merchandise volume, which is the total value of confirmed orders placed with us and sold through distribution model or drop shipping model where we act as a principal in the transaction regardless of whether the products are delivered or returned, calculated based on the listed prices of the ordered products without taking into consideration any discounts. The total GMV amount (i) excludes products sold through consignment model and (ii) excludes the value of services offered by us. GMV is subject to future adjustments (such as refunds) and represents only one measure of the Company’s performance and should not be relied on as an indicator of our financial results, which depend on a variety of factors. |
Fiscal 2026 First Half Financial Results
Total revenues were RMB207.9 million (US$29.2
million), compared to RMB249.7 million for the first half of fiscal 2025. The decrease was a result of our business strategy to focus
more on increasing profitability instead of volume of sales.
| | |
Six Months Ended September 30, | | |
| |
| Revenues | |
2025 | | |
2024 | | |
Change | |
| (in millions, except for percentages) | |
RMB | | |
RMB | | |
% | |
| Product sales | |
| 187.8 | | |
| 232.7 | | |
| (19.3 | ) |
| ● Boqii Mall | |
| 99.6 | | |
| 112.5 | | |
| (11.5 | ) |
| ● Third party e-commerce platforms | |
| 88.2 | | |
| 120.2 | | |
| (26.6 | ) |
| Online marketing and information services and other revenue | |
| 20.1 | | |
| 17.0 | | |
| 18.2 | |
| Total | |
| 207.9 | | |
| 249.7 | | |
| (16.7 | ) |
Gross profit was RMB53.8 million (US$7.6
million), representing an increase of 4.0% from RMB51.7 million for the first half of fiscal 2025.
Gross margin was 25.9%, representing an
increase of 520 basis points from 20.7% for the first half of fiscal 2025.
Operating expenses were RMB71.2 million
(US$10.0 million), representing a decrease of 10.2% from RMB79.3 million for the first half of fiscal 2025.
| ● | Fulfillment expenses were
RMB12.9 million (US$1.8 million), representing a decrease of 31.0% from RMB18.6 million for the first half of fiscal 2025, which was
primarily due to the decrease in shipping and warehousing expenses, resulting from more utilization of fulfillment centers. Fulfillment
expenses as a percentage of total revenues were 6.2%, down from 7.5% for the first half of fiscal 2025. |
| ● | Sales and marketing expenses
were RMB39.2 million (US$5.5 million), compared to RMB35.8 million for the first half of fiscal 2025. The increase was primarily
due to (i) the increase in advertising expenses of RMB9.0 million attributable to the expansion of promotional activities on third-party
e-commerce platforms, such as Pinduoduo and Douyin, (ii) the decrease in third party e-commerce platforms commissions of RMB0.3 million
as a result of decline in revenues, and (iii) the decrease in staff costs of RMB4.7 million related to the employee layoffs. |
| ● | General and administrative
expenses were RMB19.1 million (US$2.7 million), representing a decrease of 23.2% from RMB24.9 million for the first half of fiscal
2025. The decrease was primarily due to (i) the decrease in staff costs of RMB3.7 million related to the employee layoffs and (ii) the
decrease in office rental expenses totaling RMB 1.4 million. |
Loss from operations was RMB16.9 million
(US$2.4 million), representing a decrease of 37.4% from RMB27.0 million for the first half of fiscal 2025.
Net loss was RMB7.4 million (US$1.0 million),
representing a decrease of 75.1% from RMB29.6 million in the first half of fiscal 2025.
EBITDA was a loss of RMB5.6 million (US$0.8
million), representing a decrease of 77.6% from a loss of RMB 25.0 million in the first half of fiscal 2025. See the section titled “Non-GAAP Financial
Measures” for more information about EBITDA.
Diluted net loss per share was RMB3.78
(US$0.53), compared to diluted net loss per share of RMB44.1 for the first half of fiscal 2025.
Total cash and cash equivalents and short-term
investments were RMB30.5 million (US$4.3 million) as of September 30, 2025, compared to RMB38.7 million as of March 31, 2025.
In December 2025, Guangcheng (Shanghai) Information
Technology Co., Ltd. (“Shanghai Guangcheng”), a variable interest entity (“VIE”) of the Company, and two buyers
of Nanjing Xingmu entered into an agreement confirming that Shanghai Guangcheng ceased involvement in Nanjing Xingmu’s business
operations as a shareholder as of April 1, 2025, while the legal transfer of equity interest is expected at a later date. Accordingly,
the assets, liabilities, and results of operations of Nanjing Xingmu are excluded from the Company’s unaudited financial results
for the six months ended September 30, 2025. As of September 30, 2025, the Company had not entered into a binding agreement determining
the final consideration and recognized the “Disposal consideration receivable” of RMB 41.9 million.
Subsequent Events
Repurchase Agreement
On December 4, 2025, Shanghai Guangcheng entered
into an equity interest repurchase agreement (the “Repurchase Agreement”) with Nanjing Xingmu, two founders of Nanjing Xingmu,
and certain other parties. Under the Repurchase Agreement, the two founders of Nanjing Xingmu agreed to repurchase the 14.5% equity interest
in Nanjing Xingmu currently held by Shanghai Guangcheng for an aggregate cash consideration of RMB 12.5 million, with the final installment
expected by February 28, 2026. Upon the final payment, this transaction is expected to provide additional cash of RMB 12.5 million to
the Company.
In addition, Shanghai Guangcheng and the two founders
of Nanjing Xingmu also entered into an agreement confirming that Shanghai Guangcheng ceased involvement in Nanjing Xingmu’s business
operations as a shareholder as of April 1, 2025, while the legal transfer of equity interest is expected at a later date. Accordingly,
the assets, liabilities, and results of operations of Nanjing Xingmu are excluded from the Company’s unaudited financial results
for the six months ended September 30, 2025.
Refund of Customer Advance Payment
On October 1, 2025, the Company refunded a customer
advance payment of RMB 3.0 million originally received for the first half of fiscal 2026. This event had no impact on the Company’s
financial results as of September 30, 2025.
About Boqii Holding Limited
Boqii Holding Limited (NYSE American: BQ) is a
leading pet-focused platform in China. The Company is the leading online destination for pet products and supplies in China with its broad
selection of high-quality products including global leading brands, local emerging brands, and its own private label, Yoken, Mocare and
D-cat, offered at competitive prices. The Company’s online sales platforms, including Boqii Mall and its flagship stores on third-party
e-commerce platforms, provide customers with convenient access to a wide selection of high-quality pet products and an engaging and personalized
shopping experience. The Company’s Boqii Community provides an informative and interactive content platform for users to share their
knowledge and love for pets.
Forward Looking Statements
This press release contains forward-looking statements.
These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to
differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified
by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,”
“aim,” “estimate,” “intend,” “plan,” “believe,” “potential,”
“continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking
statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders,
in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Further
information regarding such risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange
Commission. All information provided in this press release is as of the date hereof, and the Company does not undertake any duty to update
such information, except as required under applicable law.
Non-GAAP Financial Measures
The Company uses non-GAAP financial measures,
namely non-GAAP net income/(loss), non-GAAP net loss margin, EBITDA and EBITDA margin, in evaluating its operating results and for financial
and operational decision-making purposes. The Company defines (i) non-GAAP net income/(loss) as net income/(loss) excluding fair value
change of derivative liabilities and share-based compensation expenses, (ii) non-GAAP net loss margin as non-GAAP net loss as a percentage
of total revenues, (iii) EBITDA as net income/(loss) excluding income tax expenses, interest expenses, interest income, depreciation and
amortization, and (iv) EBITDA margin as EBITDA as a percentage of total revenues. The Company believes non-GAAP net income/(loss), non-GAAP
net loss margin, EBITDA and EBITDA margin enhance investors’ overall understanding of its financial performance and allow for greater
visibility with respect to key metrics used by its management in its financial and operational decision-making.
These non-GAAP financial measures are not defined
under U.S. GAAP and are not presented in accordance with U.S. GAAP. The presentation of these non-GAAP financial measures is not intended
to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.
The non-GAAP financial measures have limitations
as analytical tools. The Company’s non-GAAP financial measures do not reflect all items of income and expense that affect the Company’s
operations or not represent the residual cash flow available for discretionary expenditures. These non-GAAP financial measures may not
be calculated in the same manner by all companies, and they may not be comparable to other similarly titled measures used by other companies.
The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measures,
which should be considered when evaluating the Company’s performance. For reconciliation of these non-GAAP financial measures to
the most directly comparable GAAP financial measures, please see the section of accompanying tables titled “Reconciliation of GAAP
and Non-GAAP Results.” The Company encourages investors and others to review its financial information in its entirety and not
rely on any single financial measure.
Exchange Rate
This press release contains translations of certain
RMB amounts into U.S. dollars (“USD,”or “US$”) at specified rates solely for the convenience of the reader. Unless
otherwise stated, all translations from RMB to USD were made at the rate of RMB7.1190 US$1.00, the exchange rate on September 30, 2025
as set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or USD amounts
referred to could be converted into USD or RMB, as the case may be, at any particular rate or at all.
For investor inquiries, please contact:
Boqii Holding Limited
Investor Relations
Tel: +86-21-6882-6051
Email: ir@boqii.com
BOQII HOLDING LIMITED
UNAUDITED CONDENSED
CONSOLIDATED BALANCE SHEETS
(All amounts in thousands,
except for share and per share data, unless otherwise noted)
| | |
As of March 31, 2025 | | |
As of September 30, 2025 | | |
As of September 30, 2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| ASSETS | |
| | |
| | |
| |
| Current assets: | |
| | |
| | |
| |
| Cash and cash equivalents | |
| 38,659 | | |
| 30,459 | | |
| 4,279 | |
| Short-term investments | |
| 4,000 | | |
| - | | |
| - | |
| Accounts receivable, net | |
| 29,318 | | |
| 13,725 | | |
| 1,928 | |
| Inventories, net | |
| 40,076 | | |
| 31,725 | | |
| 4,456 | |
| Prepayments and other current assets | |
| 90,465 | | |
| 87,172 | | |
| 12,245 | |
| Amounts due from related parties | |
| 19,804 | | |
| 19,615 | | |
| 2,755 | |
| Disposal consideration receivable | |
| - | | |
| 41,918 | | |
| 5,888 | |
| Total current assets | |
| 222,322 | | |
| 224,614 | | |
| 31,551 | |
| Non-current assets: | |
| | | |
| | | |
| | |
| Property and equipment, net | |
| 4,249 | | |
| 1,825 | | |
| 256 | |
| Intangible assets | |
| 14,671 | | |
| 113 | | |
| 16 | |
| Operating lease right-of-use assets | |
| 3,084 | | |
| 3,766 | | |
| 529 | |
| Long-term investments | |
| 64,986 | | |
| 65,187 | | |
| 9,157 | |
| Amounts due from related parties, non-current | |
| 4,935 | | |
| 4,945 | | |
| 695 | |
| Other non-current asset | |
| 1,919 | | |
| 1,665 | | |
| 234 | |
| Total non-current assets | |
| 93,844 | | |
| 77,501 | | |
| 10,887 | |
| Total assets | |
| 316,166 | | |
| 302,115 | | |
| 42,438 | |
| LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT | |
| | | |
| | | |
| | |
| Current liabilities | |
| | | |
| | | |
| | |
| Short-term borrowings | |
| 9,063 | | |
| 16,000 | | |
| 2,248 | |
| Accounts payable | |
| 19,558 | | |
| 19,625 | | |
| 2,757 | |
| Salary and welfare payable | |
| 1,908 | | |
| 1,096 | | |
| 154 | |
| Accrued liabilities and other current liabilities | |
| 11,856 | | |
| 40,432 | | |
| 5,679 | |
| Contract liabilities | |
| 1,768 | | |
| 910 | | |
| 128 | |
| Operating lease liabilities, current | |
| 1,714 | | |
| 868 | | |
| 122 | |
| Derivative liabilities | |
| 5 | | |
| - | | |
| - | |
| Total current liabilities | |
| 45,872 | | |
| 78,931 | | |
| 11,088 | |
| Non-current liabilities | |
| | | |
| | | |
| | |
| Deferred tax liabilities | |
| 2,433 | | |
| - | | |
| - | |
| Operating lease liabilities, non-current | |
| 851 | | |
| 2,455 | | |
| 345 | |
| Other debts, non-current | |
| 38,635 | | |
| 200 | | |
| 28 | |
| Total non-current liabilities | |
| 41,919 | | |
| 2,655 | | |
| 373 | |
| Total liabilities | |
| 87,791 | | |
| 81,586 | | |
| 11,461 | |
| | |
| | | |
| | | |
| | |
| Mezzanine equity | |
| | | |
| | | |
| | |
| Redeemable non-controlling interests | |
| 8,804 | | |
| 9,261 | | |
| 1,301 | |
| Total mezzanine equity | |
| 8,804 | | |
| 9,261 | | |
| 1,301 | |
| Stockholders’ equity: | |
| | | |
| | | |
| | |
| Class A ordinary shares | |
| 3,114 | | |
| 3,114 | | |
| 437 | |
| Class B ordinary shares | |
| 82 | | |
| 82 | | |
| 12 | |
| Class C ordinary shares | |
| - | | |
| 571 | | |
| 80 | |
| Additional paid-in capital | |
| 3,342,121 | | |
| 3,342,126 | | |
| 469,466 | |
| Statutory reserves | |
| 3,876 | | |
| 3,876 | | |
| 544 | |
| Accumulated other comprehensive loss | |
| (37,769 | ) | |
| (38,268 | ) | |
| (5,375 | ) |
| Accumulated deficit | |
| (3,115,371 | ) | |
| (3,126,676 | ) | |
| (439,202 | ) |
| Receivable for issuance of ordinary shares | |
| (6,248 | ) | |
| (6,819 | ) | |
| (958 | ) |
| Total Boqii Holding Limited shareholders’ equity | |
| 189,805 | | |
| 178,006 | | |
| 25,004 | |
| Non-controlling interests | |
| 29,766 | | |
| 33,262 | | |
| 4,672 | |
| Total shareholders’ equity | |
| 219,571 | | |
| 211,268 | | |
| 29,676 | |
| Total liabilities, mezzanine equity and shareholders’ equity | |
| 316,166 | | |
| 302,115 | | |
| 42,438 | |
Note: All translations from RMB to USD were made
at the rate of RMB7.1190 US$1.00, the noon buying rate in effect on September 30, 2025 in the H.10 statistical release of the Federal
Reserve Board.
BOQII HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS
OF COMPREHENSIVE LOSS
(All amounts in thousands, except for share
and per share data, unless otherwise noted)
| | |
Six Months Ended September 30, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| Net revenues: | |
| | |
| | |
| |
| Product sales | |
| 232,713 | | |
| 187,814 | | |
| 26,382 | |
| Online marketing and information services and other revenue | |
| 16,942 | | |
| 20,129 | | |
| 2,828 | |
| Total revenues | |
| 249,655 | | |
| 207,943 | | |
| 29,210 | |
| Total cost of revenue | |
| (197,961 | ) | |
| (154,168 | ) | |
| (21,656 | ) |
| Gross profit | |
| 51,694 | | |
| 53,775 | | |
| 7,554 | |
| Operating expenses: | |
| | | |
| | | |
| | |
| Fulfillment expenses | |
| (18,614 | ) | |
| (12,851 | ) | |
| (1,805 | ) |
| Sales and marketing expenses | |
| (35,726 | ) | |
| (39,201 | ) | |
| (5,507 | ) |
| General and administrative expenses | |
| (24,919 | ) | |
| (19,144 | ) | |
| (2,689 | ) |
| Other income, net | |
| 523 | | |
| 494 | | |
| 69 | |
| Loss from operations | |
| (27,042 | ) | |
| (16,927 | ) | |
| (2,378 | ) |
| Interest income | |
| 730 | | |
| 170 | | |
| 24 | |
| Interest expense | |
| (3,163 | ) | |
| (142 | ) | |
| (20 | ) |
| Other gain/(losses), net | |
| (447 | ) | |
| 10,413 | | |
| 1,463 | |
| Fair value change of derivative liabilities | |
| - | | |
| 5 | | |
| 1 | |
| Loss before income tax expenses and share of results of equity investees | |
| (29,922 | ) | |
| (6,481 | ) | |
| (910 | ) |
| Income taxes expenses | |
| 445 | | |
| (1,201 | ) | |
| (169 | ) |
| Share of results of equity investees | |
| (100 | ) | |
| 330 | | |
| 46 | |
| Net loss | |
| (29,577 | ) | |
| (7,352 | ) | |
| (1,033 | ) |
| Less: Net gain/(loss) attributable to the non-controlling interest shareholders | |
| (2,251 | ) | |
| 3,496 | | |
| 491 | |
| Net loss attributable to Boqii Holding Limited | |
| (27,326 | ) | |
| (10,848 | ) | |
| (1,524 | ) |
| Accretion on redeemable non-controlling interests to redemption value | |
| (410 | ) | |
| (457 | ) | |
| (64 | ) |
| Net loss attributable to Boqii Holding Limited’s ordinary shareholders | |
| (27,736 | ) | |
| (11,305 | ) | |
| (1,588 | ) |
| | |
| | | |
| | | |
| | |
| Net loss | |
| (29,577 | ) | |
| (7,352 | ) | |
| (1,033 | ) |
| Other comprehensive loss: | |
| | | |
| | | |
| | |
| Foreign currency translation adjustment, net of nil tax | |
| (952 | ) | |
| (499 | ) | |
| (70 | ) |
| Total comprehensive loss | |
| (30,529 | ) | |
| (7,851 | ) | |
| (1,103 | ) |
| Less: Total comprehensive gain/(loss) attributable to non-controlling interest shareholders | |
| (2,251 | ) | |
| 3,496 | | |
| 491 | |
| Total comprehensive loss attributable to Boqii Holding Limited | |
| (28,278 | ) | |
| (11,347 | ) | |
| (1,594 | ) |
| | |
| | | |
| | | |
| | |
| Net loss attributable to Boqii Holding Limited’s ordinary shareholders | |
| | | |
| | | |
| | |
| — basic | |
| (44.1 | ) | |
| (3.78 | ) | |
| (0.53 | ) |
| — diluted | |
| (44.1 | ) | |
| (3.78 | ) | |
| (0.53 | ) |
| Weighted average number of ordinary shares | |
| | | |
| | | |
| | |
| — basic | |
| 628,986 | | |
| 2,994,368 | | |
| 2,994,368 | |
| — diluted | |
| 628,986 | | |
| 2,994,368 | | |
| 2,994,368 | |
Note: All translations from RMB to USD were made
at the rate of RMB7.1190 US$1.00, the noon buying rate in effect on September 30, 2025 in the H.10 statistical release of the Federal
Reserve Board.
Boqii Holding Limited
Reconciliation of GAAP and Non-GAAP Results
(All amounts in thousands, except for percentages)
| | |
Six Months Ended
September 30, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | |
| | |
| | |
| |
| Net loss | |
| (29,577 | ) | |
| (7,352 | ) |
| Fair value change of derivative liabilities | |
| - | | |
| (5 | ) |
| Share-based compensation expenses | |
| 52 | | |
| 5 | |
| Non-GAAP net loss | |
| (29,525 | ) | |
| (7,352 | ) |
| Non-GAAP net loss margin | |
| (11.8 | )% | |
| (3.5 | )% |
| | |
Six Months Ended
September 30, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | |
| | |
| | |
| |
| Net loss | |
| (29,577 | ) | |
| (7,352 | ) |
| Income tax expenses | |
| (445 | ) | |
| 1,201 | |
| Interest expenses | |
| 3,163 | | |
| 142 | |
| Interest income | |
| (730 | ) | |
| (170 | ) |
| Depreciation and amortization | |
| 2,617 | | |
| 587 | |
| EBITDA | |
| (24,972 | ) | |
| (5,592 | ) |
| EBITDA margin | |
| (10.0 | )% | |
| (2.7 | )% |
Note: All translations from RMB to USD were made
at the rate of RMB7.1190 US$1.00, the noon buying rate in effect on September 30, 2025 in the H.10 statistical release of the Federal
Reserve Board.
