Eason Technology LtdDXF
What Eason Technology Ltd does.
Eason is not an operating company but a Cayman Islands holding company with operations primarily conducted by its subsidiaries in China. We historically were primarily engaged in the business of providing loan facilities to micro sized enterprises, SMEs, sole proprietors and individuals in Hubei province of the People’s Republic of China.
We provided family-run businesses, farmers and individual borrowers with working capital and bridge financing support, primarily through means of short-term loans based upon their needs and qualifications. Due to the severe financial restraint, we suspended offering loans to our customers in the second half year of 2019 and we entered into business of digital security technology and real estate operation management and investment in 2023.
On May 13, 2024, we entered into certain share purchase agreement (the “ Disposition SPA ”) with True Silver, Chutian HK, and Jianneng Holdings Limited, a British Virgin Islands company which is not affiliate of the Company of any of its directors or officers (the “ Purchaser ”). Pursuant to the Disposition SPA, the Purchaser agreed to purchase Chutian HK in exchange for nominal cash consideration of US$1. Upon the closing of the transaction contemplated by the Disposition SPA, the Purchaser will become the sole shareholder of Chutian HK and as a result, assume all assets and liabilities of Chutian, Chutian HK and subsidiaries owned or controlled by Chutian HK. Upon the transaction contemplated by the Disposition SPA closed on June 12, 2024, we divested the microfinance lending business.
Revenue and profit, by fiscal year.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | $0 | $0 | $12.3M |
| Net income | $46.9M | $15.9M | -$102.5M | -$24.3M | -$316.6M | -$502.1M |
| Free cash flow | $14.8M | -$626,000 | — | — | — | — |
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Figures from Eason Technology Ltd's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.