Maase Inc.
For the period ended Dec 31, 2025. Filed Jun 23, 2026.
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Dec 31, 2025 · Filed Jun 23, 2026
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Contents
EX-99.1 · (28) Segment Reporting (continued)
(28) Segment Reporting (continued)
The following table shows the Group’s operations by segment for the six months ended December 31, 2024 and 2025.
| Qingdao Maisi | Glyken Bird Nest | Zhongshen | Other* | Consolidated | |
|---|---|---|---|---|---|
| RMB | RMB | RMB | RMB | RMB | |
| Net revenues | 2,003 | 1,135 | - | - | 3,138 |
| Operating costs and expenses: | |||||
| Cost of revenues | (1,862) | (811) | - | - | (2,673) |
| Payroll expense and employee benefit expenses | (240) | (367) | (206) | (1,455) | (2,268) |
| Share-based compensation | - | - | - | (6,600) | (6,600) |
| Depreciation and Amortization expense | (247) | (4,524) | (145) | - | (4,916) |
| Rental expense | (6) | (62) | - | - | (68) |
| Impairment loss | - | - | - | - | - |
| Others operating expenses | (263) | (243) | (83) | (4,825) | (5,414) |
| Total operating costs and expenses | (2,618) | (6,007) | (434) | (12,880) | (21,939) |
| Loss from operations | (615) | (4,872) | (434) | (12,880) | (18,801) |
| Interest (expense) income, net | (47) | 1 | - | - | (46) |
| Net gain (loss) from fair value change | - | 1 | - | (1,330) | (1,329) |
| Others, net | - | 62 | - | 71 | 133 |
| Loss before income taxes and share of loss of affiliates | (662) | (4,808) | (434) | (14,139) | (20,043) |
| Income tax benefit | 12 | 1,083 | - | - | 1,095 |
| Share of loss of affiliates | - | (2) | - | (1,223) | (1,225) |
| Net loss from continuing operations | (650) | (3,727) | (434) | (15,362) | (20,173) |
(28) Segment Reporting (continued)
| Qingdao Maisi | Glyken Bird Nest | Zhongshen | Other* | Consolidated | |
|---|---|---|---|---|---|
| RMB | RMB | RMB | RMB | RMB | |
| Net revenues | - | - | - | - | - |
| Operating costs and expenses: | |||||
| Cost of revenues | - | - | - | - | - |
| Payroll expense and employee benefit expenses | - | - | - | (251) | (251) |
| Share-based compensation | - | - | - | (263) | (263) |
| Depreciation and Amortization expense | - | - | - | - | - |
| Rental expense | - | - | - | - | - |
| Impairment loss | - | - | - | - | - |
| Others operating expenses | - | - | - | (939) | (939) |
| Total operating costs and expenses | - | - | - | (1,453) | (1,453) |
| Loss from operations | - | - | - | (1,453) | (1,453) |
| Interest (expense) income, net | - | - | - | 131 | 131 |
| Net gain (loss) from fair value change | - | - | - | - | - |
| Others, net | - | - | - | (7) | (7) |
| Loss before income taxes and share of loss of affiliates | - | - | - | (1,329) | (1,329) |
| Income tax benefit | - | - | - | - | - |
| Share of loss of affiliates | - | - | - | - | - |
| Net loss from continuing operations | - | - | - | (1,329) | (1,329) |
| * | Other corporate expenses represent general and administrative expenses that cannot be allocated to segments for the six-month periods ended December 31, 2024 and 2025, respectively. |
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Majority of the Group’s operations, customers and long-lived assets are located in the PRC. Accordingly, no geographic information is presented.
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