Here Group Limited (HERE) reported fiscal 2026 results as a pop toy company following the divestiture of its legacy businesses, which are presented as discontinued operations. Revenue from continuing operations, generated solely from pop toy sales and related activities, was RMB596.8 million (US$88.0 million), versus RMB65.8 million in fiscal 2025. The company says the comparison is not directly comparable because pop toy operations began in fiscal 2025’s fourth quarter. Gross profit was RMB197.3 million (US$29.1 million).
Continuing operations recorded a net loss of RMB254.9 million (US$37.6 million) and used RMB223.1 million (US$32.9 million) of operating cash in fiscal 2026. Here Group recorded a RMB124.1 million (US$18.3 million) goodwill impairment related to Shenzhen Letsvan. Consolidated net income was RMB63.5 million (US$9.4 million), including RMB318.5 million (US$46.9 million) of net income from discontinued operations. Cash and restricted cash from continuing operations was RMB432.1 million (US$63.7 million) as of June 30, 2026; short-term investments were RMB178.2 million (US$26.3 million) as of that date.
Here Group Ltd (HERE) reported rapid revenue expansion but widened losses for the fourth quarter and full year ended June 30, 2026. Fourth-quarter revenue reached RMB127.7 million, up 94.1% year over year but down 22.5% from the prior quarter due to weaker channel sales. Full-year FY 2026 revenue was RMB596.8 million, the first full year focused on the pop toy business, driven by growth across existing and newly launched IP product lines.
Costs and expenses scaled sharply with the business. Fourth-quarter cost of revenues rose to RMB94.7 million, sales and marketing to RMB56.2 million and R&D to RMB9.9 million, reflecting heavier investment in branding, distribution and product design. A one-time RMB124.1 million impairment on goodwill from the Letsvan acquisition pushed fourth-quarter net loss from continuing operations to RMB169.6 million and full-year loss to RMB254.9 million. On a non-GAAP basis, adjusted net loss from continuing operations was RMB37.7 million for the quarter and RMB93.9 million for the year. The balance sheet showed RMB431.1 million of cash and cash equivalents, RMB178.2 million in short-term investments and RMB628.7 million of shareholders’ equity, alongside a US$20.0 million share repurchase program under which 0.4 million ADSs had been repurchased for about US$0.7 million by mid-September 2026.
Here Group Limited received an amended Schedule 13G reporting that KPartners Limited, Rui Zhang and related K2 entities collectively beneficially own 23,170,342 ordinary shares, representing 14.2% of the company on an as-converted basis. The position consists of Class A ordinary shares, including holdings in the form of American Depositary Shares (ADSs).
The stake is held through K2 Partners III Limited, K2 Evergreen Partners Limited and K2 Family Partners Limited. Separately, K2 Partners III GP, LLC, K2 Partners III GP, L.P., K2 Partners III L.P. and K2 Partners III Limited each report 14,953,514 Class A ordinary shares, or 9.2% of the ordinary shares treated as a single class. The ownership percentages are based on 163,153,846 ordinary shares (113,294,797 Class A and 49,859,049 Class B) outstanding as of October 21, 2025, assuming full conversion of Class B into Class A. Each ADS represents three Class A ordinary shares.
Here Group Ltd filed an amended insider ownership report for director Zhu Shunyan. The filing updates holdings to include 60,000 American depositary shares, held indirectly through Yuxing Investments Limited, that were omitted from the original Form 3. Each ADS represents three Class A ordinary shares.
Here Group Limited reported unaudited results for the third quarter of FY 2026. Revenue was RMB164.7 million (US$23.9 million), mainly from its WAKUKU, SIINONO and ZIYULI IP lines, generating gross profit of RMB56.9 million.
The company recorded a net loss of RMB34.1 million (US$4.9 million) and an adjusted net loss of RMB22.9 million (US$3.3 million). Basic and diluted net loss per ordinary share were RMB0.21, while adjusted net loss per share was RMB0.14.
Here now expects fourth-quarter FY 2026 revenue between RMB130.0 million and RMB140.0 million, and has cut full-year guidance from RMB750.0–800.0 million to RMB600.0–610.0 million to reflect near-term market conditions. The company highlighted cost-control efforts and margin focus.
Here also detailed share repurchases. Under its 2025 program of up to US$20.0 million, it had bought back 2.3 million ADSs for US$12.8 million as of June 1, 2026. A new 2026 share repurchase program of up to US$20.0 million is authorized to run from July 1, 2026 to June 30, 2027, funded from existing cash.
Here Group Ltd director WONG PEI HUA has filed an initial Form 3 showing existing equity holdings in the company. The filing reports two options over Class A ordinary shares, each with a conversion or exercise price of $0.4000 per share and an expiration date of December 27, 2033, covering 10,001 and 10,000 underlying Class A ordinary shares respectively. The filing also shows direct ownership of 3,333 American depositary shares. A footnote explains that each American depositary share represents three Class A ordinary shares. These entries are reported as holdings only, with no purchases, sales, or option exercises disclosed in this Form 3.
Here Group Ltd director and chief product officer Zhan Huiyu reported an initial beneficial ownership position tied to a pending merger with Shenzhen Yiqi Culture Co., Ltd. Under this Letsvan merger deal, a total of 18,219,330 Class A ordinary shares are to be issued to him or his designated entity once closing conditions are met and the closing occurs.
The shares are structured in three tranches: 10,931,598 shares as a first tranche, 3,643,866 shares as a second tranche subject to continued employment, and a final 3,643,866-share tranche. Each tranche carries lock-up periods and, for the second and final tranches, annual vesting over four years. The filing also notes holdings of American depositary shares, with each ADS representing three Class A ordinary shares.
Here Group Ltd Senior Vice President Shi Guangqiang has filed an initial ownership report showing equity-based holdings in the company. The filing lists four option awards over Class A ordinary shares, each tied to 150,000 underlying shares at an exercise price of $0.40 per share, with vesting dates from April 1, 2025 through April 1, 2028 and an expiration date of June 20, 2034. It also shows direct ownership of 461 American depositary shares, with a note that each ADS represents three Class A ordinary shares.
Here Group Ltd director Zhu Shunyan has filed an initial ownership report. The Form 3 shows direct holdings of 40,000 American depositary shares, with each ADS representing three Class A ordinary shares. It also lists several option awards over Class A ordinary shares, each with a $0.40 exercise price and expiration on March 20, 2035, with different future exercise dates.
Here Group Ltd’s CFO and Senior Vice President, Xie Dong, has filed an initial ownership report detailing equity holdings in the company. The filing shows direct holdings of American depositary shares totaling 440,355 units, with a footnote stating that each ADS represents three Class A ordinary shares.
The report also lists multiple stock option awards over Class A ordinary shares with exercise prices of $0.10 and $0.40 per share and expiration dates ranging from 2031 to 2034. These options cover blocks of 75,000 to 265,003 underlying shares that vest on various dates between 2024 and 2028, indicating a sizeable long-term incentive position.