[6-K] Lixiang Education Holding Co. Ltd. Current Report (Foreign Issuer)

Rhea-AI Filing Summary

Lixiang Education (NASDAQ: LXEH) reported unaudited H1 2025 results. Net revenues were RMB15.4 million (US$2.1 million), roughly flat year over year. A higher cost base drove a swing to a gross loss of RMB5.0 million from a gross profit of RMB0.3 million a year ago, mainly due to higher site rental fees at Langfang School and costs tied to a newly launched healthcare support services business.

Vocational education revenue declined to RMB6.5 million as graduates outpaced new enrollments, while high school revenue rose to RMB2.5 million with the addition of a second-year class. Healthcare support services contributed RMB1.9 million. Total operating expenses were RMB10.0 million. Net loss widened to RMB16.1 million (US$2.2 million) from RMB8.6 million. Cash was RMB221.4 million (US$30.9 million) as of June 30, 2025. The company also noted a final arbitration award in its favor for RMB72.41 million plus RMB20.0 million in liquidated damages; amounts had not been received as of the report date.

Positive

• Total liabilities decreased to RMB201.3 million from RMB325.1 million, improving the capital structure.
• Cash balance remained strong at RMB221.4 million as of June 30, 2025.

Negative

• Net loss widened to RMB16.1 million from RMB8.6 million year over year.
• Gross margin deterioration from a RMB0.3 million gross profit to a RMB5.0 million gross loss, driven by higher rental and new business costs.

Insights

Equity analyst — China education and services

Loss widened as costs rose; balance sheet remains liquid.

LXEH kept revenue stable at RMB15.4m, but costs climbed to RMB20.4m, turning gross profit into a RMB5.0m gross loss. Drivers were higher rental fees at Langfang School and start-up costs for healthcare support services contributing RMB1.9m revenue.

Operating expenses were RMB10.0m, yielding a net loss of RMB16.1m versus RMB8.6m last year. Cash stood at RMB221.4m as of June 30, 2025, offering liquidity to support operations.

An arbitration award granted to an affiliate covers RMB72.41m plus RMB20.0m in liquidated damages; collection timing is not indicated in the excerpt. The business mix shift (declining vocational, growing high school, new healthcare services) will affect margins depending on enrollment and cost control.

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 October 2025

Commission File Number: 001-39559

Lixiang Education Holding Co., Ltd.

(Exact name of registrant as specified in its charter)

No. 818 Hua Yuan Street

Liandu District, Lishui City, Zhejiang Province, 323000

People’s Republic of China

(Address of principal executive office)

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 ☐

Lixiang Education Announces Unaudited Half Year 2025 Financial Results

Lishui, China, October 16, 2025 — Lixiang Education Holding Co., Ltd. (NASDAQ: LXEH) (the “Company”), a prestigious international and vocational education service provider in China, today announced its unaudited financial results for the first half year of 2025.

First Half Year 2025 Financial Results

Net Revenues

Net revenues for the six months ended June 30, 2025 were RMB15.4 million (US$2.1 million), compared with RMB15.3 million for the same period ended June 30, 2024.

Tuition and accommodation income

For the vocational education, revenue contribution for the period was RMB6.5 million, primarily from Langfang School, representing a decrease of RMB1.6 million by 19.6% compared with RMB8.1 million for the same period ended June 30, 2024, primarily due to the numbers of graduates of 609 exceeded the enrolment of new students of 189.

For the high school education, revenue contribution for the period was RMB2.5 million from Lishui International School, representing an increase of RMB1.0 million, or 64.5%, compared with RMB1.5 million for the same period ended June 30, 2024. The increase was attributable to the addition of a second-year class at Lishui International School in the first half of 2025.

Sales of meal, uniforms and learning materials

Revenue contribution for the period was RMB0.3 million, compared with RMB1.0 million for the same period in 2024, due to the decrease in the number of students from 1,217 in the first half year of 2024 to 930 in the first half year of 2025 enrolled at Langfang School.

Healthcare Support Services

Hebei Chuangxiang launched a new business, healthcare support services (including inpatient care assistance), which generated revenue of RMB1.9 million for the six months ended June 30, 2025.

Others

Other revenue of RMB4.2 million primary consisted of course design, development and training in the first half year of 2025 of RMB2.6 million, comprehensive service for flexible employment of RMB1.1 million, rental income of RMB0.3 million from third parties and RMB0.2 million from our related party for the six months ended June 30, 2025.

Other revenue of RMB4.7 million primary consisted of course design, development and training in the first half year of 2024 of RMB2.8 million, consulting services of oversea students’ enrolment of RMB0.6 million, comprehensive service for flexible employment of RMB0.5 million, rental income of RMB0.4 million from third parties and RMB0.4 million from our related party for the six months ended June 30, 2024.

Cost of Revenues

Cost of revenues for the six months ended June 30, 2025 was RMB20.4 million (US$2.8 million), representing an increase of RMB5.3 million from RMB15.1 million for the same period ended June 30, 2024. The increase in cost of revenues was primarily attributable to: (i) an increase of RMB3.6 million in rental costs attributable to higher site rental fees for Langfang School; (ii) an increase of RMB2.7 million in costs associated with the launch of the healthcare support services by Hebei Chuangxiang; partially offset by (iii) a decrease of RMB1.4 million in taxes and surcharges.

1

Gross Profit/(Loss)

As a result of the foregoing, gross loss for the first half year of 2025 was RMB5.0 million (US$0.7 million), compared with the gross profit of RMB0.3 million for the same period ended June 30, 2024. The decline was mainly attributable to higher rental costs and the costs associated with healthcare support services, a newly launched business.

Operating Expenses

Total operating expenses for the first half year of 2025 were RMB10.0 million (US$1.4 million), compared with RMB9.7 million for the same period ended June 30, 2024.

General and administrative expense for the first half year of 2025 was RMB9.6 million (US$1.3 million), decreased slightly by RMB0.1 million compared with RMB9.7 million for the same period ended June 30 2024.

Selling and marketing expenses for the first half year of 2025 was RMB0.4 million (US$0.1 million), compared with RMB7.0 thousand for the same period ended June 30, 2024. The increase in selling and marketing expenses was primarily due to the expansion of sales team for the new healthcare support services business initiatives.

Other Income, net

Total net other income for the first half year of 2025 was RMB0.8 million (US$0.1 million), compared with RMB1.9 million for the same period ended June 30, 2024. The decrease was primarily due to (i) a decrease of RMB0.6 million in other income mainly attributable to grants for needy students received by Langfang School, and (ii) an increase of RMB0.5 million in other expenses, driven by an overdue tax penalty of RMB0.3 million and additional employee compensation of RMB0.2 million.

Net Loss

Net loss for the first half year of 2025 was RMB16.1 million (US$2.2 million), compared with net loss of RMB8.6 million for the same period ended June 30, 2024.

Net Loss Attributed to Ordinary Shares/ADS

Basic and diluted net loss per share attributable to ordinary shareholders of the Company from for the first half year of 2025 were RMB0.01, compared with basic and diluted net loss per share of RMB0.07 for the same period ended June 30, 2024.

Basic and diluted net loss per ADS attributable to ADS holders of the Company for the first half year of 2025 were RMB0.88, compared with basic and diluted net loss per ADS of RMB12.95 for the same period ended June 30, 2024.

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Cash and Working Capital

As of June 30, 2025, the Company had total cash of RMB221.4 million (US$30.9 million), an increase of RMB0.7 million from RMB220.7 million as of December 31, 2024.

Contingency

On December 18, 2023, Lishui Mengxiang, as applicant, filed an arbitration application against Beijing S.K. and its affiliates, as respondents in relation to the breach of the investment cooperation agreement entered into between the two parties on July 27, 2021 and a series of investment supplemental agreement entered into between the two parties during 2023 and 2024. The main arbitration claim was to request the respondents to pay the contract amount of RMB72.41 million and the liquidated damages of RMB20 million. On April 3, 2025, the Beijing Arbitration Commission rendered a final award granting the applicant’s main arbitration claims. As of the date of this report, Lishui Mengxiang has not yet received the aforementioned amount.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of RMB7.1636 to US$1.00, the rate in effect as of June 30, 2025 published by the Federal Reserve Board.

Safe Harbor Statement

This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the Chinese private education market; Chinese governmental policies relating to private educational services and providers of such services; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

3

Lixiang Education Holding Co., Ltd.

CONSOLIDATED BALANCE SHEETS

(RMB, except share data and per share data, or otherwise noted)

		As of
		December 31,				June 30,
		2024				2025
		RMB				RMB				US$
		(Audited)				(Unaudited)				(Unaudited)
ASSETS
Current assets:
Cash			220,724,238				221,388,206				30,904,602
Prepayments and other current assets, net			5,846,730				6,079,119				848,612
Accounts receivable			156,770				1,116,018				155,790
Amounts due from related parties			9,542,000				7,794,000				1,088,000
Total current assets			236,269,738				236,377,343				32,997,004
Non-current assets:
Property and equipment, net			147,250,054				145,342,020				20,288,964
Land use rights, net			33,927,238				33,453,892				4,669,983
Intangible assets, net			163,687				131,952				18,420
Right-of-use assets			51,906,613				47,519,402				6,633,453
Other non-current asset			1,100,000				1,110,000				154,950
Total non-current assets			234,347,592				227,557,266				31,765,770
TOTAL ASSETS			470,617,330				463,934,609				64,762,774
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term borrowings			84,000,000				84,000,000				11,725,948
Accounts payable			388,494				175,215				24,459
Deferred revenue, current			5,595,491				3,520,866				491,494
Salary and welfare payable			1,861,780				1,779,714				248,438
Amounts due to a related party			1,817,485				-				-
Amounts due to Affected Entity, current			-				57,877,728				8,079,419
Taxes payable			2,146,819				937,985				130,937
Income tax payable			213,495				249,434				34,820
Accrued liabilities and other current liabilities			7,489,769				6,913,705				965,116
Operating lease liabilities, current			9,208,569				9,125,856				1,273,920
Total current liabilities			112,721,902				164,580,503				22,974,551
Non-current liabilities:
Amounts due to Affected Entity, non-current			173,046,163				-				-
Operating lease liabilities, non-current			38,352,135				35,761,127				4,992,061
Other non-current liabilities			1,000,000				1,000,000				139,595
Total non-current liabilities			212,398,298				36,761,127				5,131,656
Total liabilities			325,120,200				201,341,630				28,106,207
Commitments and contingencies
Shareholders’ equity:
Class A ordinary shares (US$0.0001 par value; 19,700,000,000 shares authorized, 71,667,000 and 1,871,667,000 shares issued and outstanding as of December 31, 2024 and June 30, 2025, respectively)			50,584				1,368,598				191,049
Class B ordinary shares (US$0.0001 par value; 100,000,000 shares authorized, 45,000,000 and 45,000,000 shares issued and outstanding as of December 31, 2024 and June 30, 2025, respectively)			30,508				30,508				4,259
Additional paid-in capital			343,098,862				476,500,785				66,516,945
Statutory reserves			60,610,543				60,610,543				8,460,906
Accumulated other comprehensive income			12,294,900				10,729,116				1,497,727
Accumulated deficit			(269,947,314	)			(286,005,618	)			(39,924,845	)
Total Lixiang Education Holding Co., Ltd. shareholders’ equity			146,138,083				263,233,932				36,746,041
Non-controlling interests			(640,953	)			(640,953	)			(89,474	)
TOTAL SHAREHOLDERS’ EQUITY			145,497,130				262,592,979				36,656,567
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			470,617,330				463,934,609				64,762,774

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Lixiang Education Holding Co., Ltd.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(RMB, except share data and per share data, or otherwise noted)

		For the six months ended June 30,
		2024				2025
		RMB				RMB				US$
Net revenues:
Revenue from third parties			14,937,481				15,178,166				2,118,790
Revenue from related party			377,143				188,571				26,324
Total net revenues			15,314,624				15,366,737				2,145,114
Cost of revenues			(15,050,531	)			(20,414,316	)			(2,849,729	)
Gross profit/(loss)			264,093				(5,047,579	)			(704,615	)
Operating expenses:
General and administrative expenses			(9,682,494	)			(9,569,133	)			(1,335,799	)
Selling and marketing expenses			(6,839	)			(417,072	)			(58,221	)
Total operating expenses			(9,689,333	)			(9,986,205	)			(1,394,020	)
Operating loss			(9,425,240	)			(15,033,784	)			(2,098,635	)
Interest expense			(1,273,223	)			(1,774,023	)			(247,644	)
Interest income			238,648				20,586				2,874
Other income, net			1,902,355				768,867				107,330
Loss before income tax expense			(8,557,460	)			(16,018,354	)			(2,236,075	)
Income tax expenses			(76,929	)			(39,950	)			(5,577	)
Net loss			(8,634,389	)			(16,058,304	)			(2,241,652	)
Net loss attributable to Lixiang Education Holding Co., Ltd. shareholders			(8,560,021	)			(16,058,304	)			(2,241,652	)
Net loss attributable to non-controlling interests			(74,368	)			-				-
Other comprehensive income/(expenses):
Foreign currency translation adjustment, net of nil tax			1,593,893				(1,565,784	)			(218,575	)
Comprehensive loss			(7,040,496	)			(17,624,088	)			(2,460,227	)
Total comprehensive loss attributable to non-controlling interests			(74,368	)			-				-
Total comprehensive loss attributable to Lixiang Education Holding Co., Ltd. shareholders			(6,966,128	)			(17,624,088	)			(2,460,227	)
Loss per ordinary share attributable to Lixiang Education Holding Co., Ltd. shareholders			(0.07	)			(0.01	)			-
—Basic and diluted
Weighted average number of ordinary shares outstanding			116,667,000				1,866,667,000				1,866,667,000

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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.

	Lixiang Education Holding Co., Ltd.
	By:	/s/ Fen Ye
		Fen Ye
		Chairlady of Board of Directors
Date: October 16, 2025

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FAQ

What were LXEH’s H1 2025 net revenues?

Net revenues were RMB15.4 million (US$2.1 million), roughly flat versus H1 2024.

How did profitability change for LXEH in H1 2025?

Gross loss was RMB5.0 million versus a gross profit of RMB0.3 million a year ago; net loss widened to RMB16.1 million from RMB8.6 million.

Which segments drove revenue changes at LXEH?

Vocational education revenue was RMB6.5 million (down), high school revenue RMB2.5 million (up), and healthcare support services RMB1.9 million (new).

What were LXEH’s costs and expenses in H1 2025?

Cost of revenues rose to RMB20.4 million, and total operating expenses were RMB10.0 million.

What is LXEH’s cash position as of June 30, 2025?

Cash was RMB221.4 million (US$30.9 million).

Did LXEH disclose any legal or arbitration outcomes?

An affiliate received a final arbitration award for RMB72.41 million plus RMB20.0 million in liquidated damages; amounts were not received as of the report date.