Two top executives exit Token Cat (NASDAQ: TC) as board starts search

Rhea-AI Filing Summary

Token Cat Limited reported that its President, Jianchen Sun, and its Chief Operating Officer, Hui Yuan, resigned from their roles effective September 29, 2025. The company states that neither resignation resulted from any disagreement over operations, policies, or practices. The Board plans to conduct a thorough search and make new appointments in due course to fill both positions. Management also notes it will act promptly to remain in compliance with Nasdaq listing rules and other applicable regulations.

Positive

• None.

Negative

• Concurrent loss of President and COO on September 29, 2025, removes two key operational leaders at the same time, which can create uncertainty around execution until replacements are appointed.

Insights

Corporate governance and listing standards analyst

Two senior operating leaders resigned, raising near-term leadership and execution questions.

The company reports the departures of its President, Jianchen Sun, and Chief Operating Officer, Hui Yuan, both effective on September 29, 2025. These roles are central to day-to-day operations and strategic execution, so simultaneous vacancies can introduce uncertainty around continuity in decision-making and operational oversight.

The disclosure explicitly states that neither resignation arose from disagreements over operations, policies, or practices, which reduces concern about internal disputes. The Board indicates it will conduct a thorough search and make necessary appointments in due course, and it commits to ensuring compliance with Nasdaq listing rules and other regulations. Future disclosures may clarify how quickly permanent successors are named and how responsibilities are handled in the interim.

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

Token Cat Limited

(Exact name of registrant as specified in its charter)

6F, Ruihai Building, No. 21 Yangfangdian Road

Haidian District, Beijing, 100038

The People’s Republic of China

(+86-10) 6399-8902

(Address and telephone number of registrant’s 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 ☐

Departure of Certain Officers

Mr. Jianchen Sun, the President of Token Cat Limited, a Cayman Islands exempted limited company (the “Company”), resigned from his position as the President of the Company, effective on September 29, 2025. His resignation was not a result of any disagreements with the Company on any matter related to the operations, policies, or practices of the Company.

Mr. Hui Yuan, the Chief Operating Officer of the Company, resigned from his position as the Chief Operating Officer of the Company, effective on September 29, 2025. His resignation was not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company.

The Board of Directors of the Company intends to conduct a thorough search and anticipates making the necessary appointments in due course to fill the vacancies created by the foregoing resignations. The Company will act promptly to ensure that it satisfies the requirements under the Nasdaq listing rules as well as all other relevant rules and regulations in a timely manner.

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SIGNATURES

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.

Dated: October 9, 2025

	Token Cat Limited
	By:	/s/ Guangsheng Liu
	Name:	Guangsheng Liu
	Title:	Co-Chief Executive Officer

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FAQ

What leadership changes did Token Cat Limited (TC) disclose in this 6-K?

Token Cat Limited disclosed that its President, Jianchen Sun, and its Chief Operating Officer, Hui Yuan, resigned from their positions effective September 29, 2025.

Did the departing executives at Token Cat Limited (TC) resign due to disagreements with the company?

The company states that each resignation was not a result of any disagreement with Token Cat Limited regarding its operations, policies, or practices.

How does Token Cat Limited (TC) plan to replace the President and COO who resigned?

The Board of Directors intends to conduct a thorough search and anticipates making the necessary appointments in due course to fill the President and COO vacancies.

What does Token Cat Limited (TC) say about its Nasdaq listing compliance after these resignations?

The company states it will act promptly to ensure it continues to satisfy Nasdaq listing rules and all other relevant rules and regulations.

Which form did Token Cat Limited (TC) use to report these executive departures?

The company reported the departures on a Form 6-K as a foreign private issuer under the Securities Exchange Act of 1934.