Big Tree Cloud (DSY) swings to H1 2025 loss as revenue halves

Rhea-AI Filing Summary

Big Tree Cloud Holdings Limited reported unaudited results for the six months ended December 31, 2025, showing a swing from profit to loss as revenue declined. Net revenue fell to $504,145 from $1,039,851 a year earlier, and gross profit dropped to $13,269 from $672,577, reflecting much thinner margins.

The company posted a net loss of $2,037,344, compared with net income of $1,879,458 in the prior-year period, when results were boosted by a large gain on deregistration and disposal of subsidiaries. Operating expenses decreased but still significantly exceeded gross profit, leading to an operating loss of $2,108,790.

On the balance sheet, cash and cash equivalents rose to $4,498,438 from $1,659,930, while total liabilities declined to $7,689,694 from $9,861,443. Total shareholders’ equity increased to $3,870,778 from $1,121,436, helped by a registered direct offering and capital contributions, and by the redesignation of ordinary shares into Class A and Class B ordinary shares.

Positive

• Stronger capital position: Total shareholders’ equity increased from $1,121,436 to $3,870,778, supported by a $4,509,993 registered direct offering and $775,971 in capital contributions, while total liabilities declined from $9,861,443 to $7,689,694.

Negative

• Sharp deterioration in results: Net revenue fell from $1,039,851 to $504,145 and net performance swung from income of $1,879,458 to a net loss of $2,037,344, with gross profit nearly eliminated at $13,269.

Insights

Equity analyst

Revenue fell and profits reversed to a loss, despite a stronger balance sheet.

Big Tree Cloud saw net revenue drop to $504,145 from $1,039,851 for the six months ended December 31, 2025, with gross profit shrinking to just $13,269. Operating expenses of $2,122,059 kept the business in an operating loss of $2,108,790.

Net results deteriorated sharply to a loss of $2,037,344 versus prior net income of $1,879,458, which had included a substantial gain on deregistration and disposal of subsidiaries. Current-period other income and expense lines were modest by comparison, so the underlying cost structure relative to revenue is more visible.

The balance sheet, however, improved: cash and cash equivalents increased to $4,498,438, total liabilities fell to $7,689,694, and total shareholders’ equity rose to $3,870,778, supported by a $4,509,993 registered direct offering and $775,971 of capital contributions. Future filings will show whether management can rebuild revenue and margins while maintaining this strengthened capital base.

Key Figures

Net revenue: $504,145 Net (loss)/income: ($2,037,344) Prior-year net income: $1,879,458 +5 more

8 metrics

Net revenue $504,145 For the six months ended December 31, 2025

Net (loss)/income ($2,037,344) For the six months ended December 31, 2025

Prior-year net income $1,879,458 For the six months ended December 31, 2024

Cash and cash equivalents $4,498,438 As of December 31, 2025

Total liabilities $7,689,694 As of December 31, 2025

Total shareholders’ equity $3,870,778 As of December 31, 2025

Registered direct offering proceeds $4,509,993 Issuance of 403,227 ordinary shares

Weighted average shares 4,549,158 shares Used for EPS for six months ended December 31, 2025

Key Terms

discontinued operation, non-controlling interests, additional paid-in capital, foreign currency translation adjustments, +2 more

6 terms

discontinued operation financial

"Income from discontinued operation, net of tax"

A discontinued operation is a part of a company that has been sold, closed, or is planned to be shut down, and will no longer be part of its ongoing business activities. For investors, it matters because it can significantly affect a company's financial results and future outlook, similar to removing a large, ongoing project from a company's operations. Recognizing discontinued operations helps investors better understand a company's current performance separate from parts that are no longer active.

non-controlling interests financial

"Less: net loss attributable to non-controlling interests from continuing operations"

An ownership stake in a subsidiary held by outside shareholders rather than the parent company, representing the portion of that subsidiary’s assets and profits the parent does not control. For investors, it shows what part of consolidated earnings and equity belongs to others — like a roommate who owns part of a house — which affects how much value and profit per share are truly attributable to the parent company’s shareholders.

additional paid-in capital financial

"Additional paid-in capital 42,520,901"

Amount of money shareholders have paid to a company for shares that is above the stock’s nominal or par value; think of it as the extra premium paid when a group buys a ticket that has a low listed price. It matters to investors because it represents permanent capital on the balance sheet that can cushion losses, affect book value per share and indicate how much fresh cash equity holders have contributed beyond the minimum share value.

foreign currency translation adjustments financial

"Foreign currency translation adjustments 87,561"

Adjustments made when a company converts the financial results of its foreign operations into its reporting currency to reflect changes in exchange rates; these gains or losses are recorded separately from operating profit and usually affect the company’s reported equity. Investors care because large swings can change a firm’s reported financial strength and hide or amplify real business performance — like checking how much a foreign bank account is worth at today’s exchange rate rather than when the money was first deposited.

registered direct offering financial

"Insurance of ordinary shares in a registered direct offering"

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

right-of-use assets financial

"Right-of-use assets 991,147"

Right-of-use assets are the rights a company gains to use a physical space or equipment under a lease agreement. They are recorded as assets on the company's balance sheet, reflecting the value of future benefits from the leased item. For investors, these assets provide a clearer picture of a company's obligations and resources related to leasing arrangements, helping to assess its financial health and operational commitments.

FAQ

How did Big Tree Cloud (DSY) perform for the six months ended December 31, 2025?

Big Tree Cloud reported a net loss of $2,037,344 for the six months ended December 31, 2025, versus net income of $1,879,458 a year earlier, as revenue and gross profit declined and operating expenses continued to exceed gross profit.

What happened to Big Tree Cloud (DSY) revenue and gross profit in the latest interim period?

Net revenue decreased to $504,145 from $1,039,851 for the six months ended December 31, 2025. Gross profit dropped to only $13,269, down from $672,577, indicating significantly weaker profitability on the company’s sales during the period.

How did Big Tree Cloud’s (DSY) balance sheet change by December 31, 2025?

By December 31, 2025, cash and cash equivalents rose to $4,498,438 from $1,659,930, total liabilities declined to $7,689,694 from $9,861,443, and total shareholders’ equity increased to $3,870,778 from $1,121,436, reflecting improved capitalization.

What financing activities did Big Tree Cloud (DSY) complete during this interim period?

The company completed a registered direct offering, issuing 403,227 ordinary shares for $4,509,993 and received additional capital contributions of $775,971. These financing actions supported the increase in additional paid-in capital to $42,520,901 by December 31, 2025.

How were Big Tree Cloud (DSY) shares restructured into Class A and Class B?

Existing ordinary shares were redesignated so that 1,251,873 became Class A ordinary shares and 3,500,000 became Class B ordinary shares. As of December 31, 2025, ordinary shares were nil, with only Class A and Class B ordinary shares issued and outstanding.

What are Big Tree Cloud’s (DSY) earnings per share for the latest six-month period?

For the six months ended December 31, 2025, basic and diluted loss per share from continuing operations was $(0.4509), and earnings per share from discontinued operations were $0.0030, based on a weighted average of 4,549,158 shares outstanding.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 6-K: How Foreign Companies Report to the SEC →

Accepted by SEC EDGAR 04/03/2026 - 08:54 PM Learn about SEC filing dates

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2026

Commission File Number: 001-42114

Big Tree Cloud Holdings Limited

Building B4, Qianhai Shengang Fund Town
Nanshan District, Shenzhen, China 518052
+86 0755 2759-5623
(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒     Form 40-F ☐

On April 3, 2026, Big Tree Cloud Holdings Limited (the “Company”) announced its unaudited interim financial results for the six months ended December 31, 2025.

The Company is furnishing as Exhibit 99.1 to this Report its unaudited condensed consolidated financial statements as of and for the six months ended December 31, 2025.

The contents of this Report on Form 6-K are hereby incorporated by reference into (i) the registration statement on Form S-8 (Registration No. 333-284468) of the Company, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 24, 2025, and (ii) the Company’s registration statement on Form F-3 (Registration No. 333-289941) of the Company, that was initially filed with the SEC on August 29, 2025, and declared effective by the SEC on September 9, 2025.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Unaudited Condensed Consolidated Interim Financial Statements for the Six Months Ended December 31, 2025.
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).

1

SIGNATURE

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.

Date: April 3, 2026
	Big Tree Cloud Holdings Limited
	By:	/s/ Wenquan Zhu
	Name:	Wenquan Zhu
	Title:	Chairman of the Board of Directors and Co-Chief Executive Officer

2

Exhibit 99.1

BIG TREE CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In U.S. dollars, except for share and per share data, or otherwise note)

		As of
		December 31, 2025				June 30, 2025
		USD				USD
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents			4,498,438				1,659,930
Accounts receivables, net			5,295				175,058
Prepaid expenses and other current assets			599,087				581,169
Inventories, net			-				13,415
Current assets held-for-sale			-				1,409,985
Total current assets			5,102,820				3,839,557
Non-current assets:
Property and equipment, net			2,855,459				2,569,561
Intangible assets, net			1,902,556				2,037,043
Right-of-use assets			991,147				1,120,202
Deferred tax assets			708,490				483,870
Non-current assets held-for-sale			-				932,646
Total non-current assets			6,457,652				7,143,322
TOTAL ASSETS			11,560,472				10,982,879
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Long-term loans - current			1,429,981				-
Accounts payables			5,139				185,997
Contract liabilities			-				51,253
Accrued expenses and other current liabilities			526,262				952,203
Operating lease liabilities - current			356,694				354,123
Amounts due to related parties			1,065,530				657,426
Current liabilities held-for-sale			-				1,181,257
Total current liabilities			3,383,606				3,382,259
Non-current liabilities:
Long-term loans			-				1,395,946
Amounts due to a related party, non-current			2,513,495				3,042,765
Operating lease liabilities - non-current			726,311				838,982
Other non-current liabilities			1,066,282				1,066,282
Non-current liabilities held-for-sale			-				135,209
Total non-current liabilities			4,306,088				6,479,184
TOTAL LIABILITIES			7,689,694				9,861,443
Shareholders’ equity:
Ordinary shares (par value of US$0.002 per share; 25,000,000 ordinary shares authorized, nil and 4,348,646  ordinary shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)*			-				8,697
Class A ordinary shares (par value of US$0.002 per share; 20,000,000 Class A ordinary shares authorized, 1,251,873 and nil Class A ordinary shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)*			2,503				-
Class B ordinary shares (par value of US$0.002 per share; 5,000,000 Class B ordinary shares authorized, 3,500,000 and nil Class B ordinary shares issued and outstanding as of December 31, 2025 and June 30, 2025, respectively)*			7,000				-
Additional paid-in capital			42,520,901				37,235,743
Accumulated deficit			(39,417,948	)			(37,428,238	)
Accumulated other comprehensive income			431,627				357,230
Total BIG TREE CLOUD HOLDINGS LIMITED’s shareholders’ equity			3,544,083				173,432
Non-controlling interests			326,695				948,004
TOTAL SHAREHOLDERS’ EQUITY			3,870,778				1,121,436
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			11,560,472				10,982,879

* The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation by consolidating each 20 ordinary shares, and the redesignation of ordinary shares into Class A ordinary shares and Class B ordinary shares, effective on February 23, 2026.

1

BIG TREE CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)/INCOME
(In U.S. dollars, except for share and per share data, or otherwise noted)

		For the six months ended December 31,
		2025				2024
		USD				USD
		(Unaudited)
Net revenue			504,145				1,039,851
Cost of revenues			(490,876	)			(367,274	)
Gross profit			13,269				672,577
Operating expenses
Selling expenses			(202,026	)			(363,777	)
General and administrative expenses			(1,920,033	)			(2,403,721	)
Total operating expenses			(2,122,059	)			(2,767,498	)
Operating loss			(2,108,790	)			(2,094,921	)
Other (expenses) income, net
Financial expenses			(165,056	)			(169,141	)
Financial income			8,631				1,019
(Loss)/gain on deregistration and disposal of subsidiaries, net			(10,308	)			4,788,377
Other expenses, net			(23,648	)			(50,820	)
Total other (expenses)/income, net			(190,381	)			4,569,435
(Loss)/income before income tax provision			(2,299,171	)			2,474,514
Income tax benefit/(expense)			247,955				(595,056	)
(Loss)/income from continuing operations, net of tax			(2,051,216	)			1,879,458
Income from discontinued operation, net of tax			13,872				-
Net (loss)/income			(2,037,344	)			1,879,458
Less: net loss attributable to non-controlling interests from continuing operations			(54,432	)			-
Less: net income attributable to non-controlling interests from discontinued operation			6,798				-
Net (loss)/income attributable to ordinary shareholders of the Company			(1,989,710	)			1,879,458
Other comprehensive (loss)/income, net of tax of nil:
Foreign currency translation adjustments			87,561				(45,994	)
Total comprehensive (loss)/income			(1,949,783	)			1,833,464
Less: comprehensive income attributable to non-controlling interests from continuing operations			(41,268	)			-
Less: comprehensive loss attributable to non-controlling interests from discontinued operation			6,798				-
Total comprehensive (loss)/income attributable to ordinary shareholders of the Company			(1,915,313	)			1,833,464
(Loss)/earnings per share from continuing operations*
- Basic and diluted			(0.4509	)			0.5720
Earnings per share from discontinued operations*
- Basic and diluted			0.0030				-
Weighted average shares used in calculating net earnings per share*
- Basic and diluted			4,549,158				3,281,599

* The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation by consolidating each 20 ordinary shares, and the redesignation of ordinary shares into Class A ordinary shares and Class B ordinary shares, effective on February 23, 2026.

2

BIG TREE CLOUD HOLDINGS LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ (DEFICIT)/EQUITY
(In U.S. dollars, except for share and per share data, or otherwise noted)

		Ordinary shares*								Class A ordinary shares*								Class B ordinary shares*								Additional paid-in				Accumulated				Accumulated other comprehensive				Total BIG TREE CLOUD HOLDINGS LIMITED’s shareholders’				Non- controlling				Total shareholders’
		Shares				Amount				Shares				Amount				Shares				Amount				capital				Deficits				income				(deficit)/equity				interests				(deficit)/equity
						USD								USD								USD				USD				USD				USD				USD				USD				USD
Balance as of July 1, 2024			2,854,027				5,708				-				-				-				-				-				(4,898,117	)			313,612				(4,578,797	)			-				(4,578,797	)
Net income			-				-				-				-				-				-				-				1,879,458				-				1,879,458				-				1,879,458
Foreign currency translation			-				-				-				-				-				-				-				-				(45,994	)			(45,994	)			-				(45,994	)
Balance as of December 31, 2024 (Unaudited)			2,854,027				5,708				-				-				-				-				-				(3,018,659	)			267,618				(2,745,333	)			-				(2,745,333	)
Balance as of July 1, 2025			4,348,646				8,697				-				-				-				-				37,235,743				(37,428,238	)			357,230				173,432				948,004				1,121,436
Net loss			-				-				-				-				-				-				-				(1,989,710	)			-				(1,989,710	)			(47,634	)			(2,037,344	)
Insurance of ordinary shares in a registered direct offering			403,227				806				-				-				-				-				4,509,187				-				-				4,509,993				-				4,509,993
Capital contribution from shareholders			-				-				-				-				-				-				775,971				-				-				775,971				97,715				873,686
Transfer out of noncontrolling interest due to the disposal of a subsidiary			-				-				-				-				-				-				-				-				-				-				(684,554	)			(684,554	)
Redesignation of ordinary shares into Class A ordinary shares			(1,251,873	)			(2,503	)			1,251,873				2,503				-				-				-				-				-				-				-				-
Redesignation of ordinary shares into Class B ordinary shares			(3,500,000	)			(7,000	)			-				-				3,500,000				7,000				-				-				-				-				-				-
Foreign currency translation			-				-				-				-				-				-				-				-				74,397				74,397				13,164				87,561
Balance as of December 31, 2025 (Unaudited)			-				-				1,251,873				2,503				3,500,000				7,000				42,520,901				(39,417,948	)			431,627				3,544,083				326,695				3,870,778

* The shares and per share information are presented on a retroactive basis to reflect the Share Consolidation by consolidating each 20 ordinary shares, and the redesignation of ordinary shares into Class A ordinary shares and Class B ordinary shares, effective on February 23, 2026.

3

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Filing Exhibits & Attachments

6 documents

Press Releases

• EX-99.1 UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS 247.3 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 7.7 KB
• EX-101 XBRL CALCULATION FILE 25.4 KB
• EX-101 XBRL DEFINITION FILE 50.3 KB
• EX-101 XBRL LABEL FILE 126.0 KB
• EX-101 XBRL PRESENTATION FILE 64.2 KB