STFS on Nasdaq
Star Fashion Culture Holdings Ltd
Star Fashion Culture Holdings Ltd is an advertising services company, listed on Nasdaq (STFS).1
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Last updated Oct 20, 2026.
Overview
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- TickerSTFS on Nasdaq1
- IndustryServices-Advertising1
- Business addressRoom 64, Room 401, No. 7 He Ning Er Road, Huli District, Xiamen City, Fujian Province, 3610003
- Filer category, Emerging growth company3
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Fashion Culture Holdings Limited, the issuer in our IPO, was incorporated in the Cayman Islands on August 11, 2023 as an exempted company.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Marketing Campaign Planning And Execution brought in 51% of the revenue Star Fashion Culture Holdings Ltd broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Marketing Campaign Planning And Execution | 55.6M CNY | 72.6M CNY | 61.4M CNY |
| Online Precision Marketing | 6.1M CNY | 31.6M CNY | 56.7M CNY |
| Offline Advertising | 7.3M CNY | 4.6M CNY | 2.8M CNY |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue94¢$15.9M
- Other costs5¢$787.0K
- Income tax1¢$170.6K
Out of $16.9M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-06-30 | 2024-06-30 | 2023-06-30 |
|---|---|---|---|
| Revenues | 120.8M CNY | 108.8M CNY | 69.0M CNY |
| Cost of revenues | -113.9M CNY | -91.8M CNY | -49.5M CNY |
| Gross profit | 6.9M CNY | 17.0M CNY | 19.5M CNY |
| Selling and marketing expenses | -72.4M CNY | -1.6M CNY | -1.7M CNY |
| General and administrative expenses | -64.1M CNY | -1.3M CNY | -7.2M CNY |
| Total operating expenses | -136.6M CNY | -2.9M CNY | -8.9M CNY |
| Income/(loss) from operations | -129.7M CNY | 14.1M CNY | 10.7M CNY |
| Financial expenses, net income | 110.4K CNY | -225.2K CNY | -450.3K CNY |
| Government subsidies | 1.0K CNY | 1.0M CNY | 340 CNY |
| Other income, net | 114.9K CNY | 235.4K CNY | |
| Total other (expenses)/income, net | 111.4K CNY | 889.7K CNY | -214.6K CNY |
| Income/(loss) before income tax expenses | -129.6M CNY | 14.9M CNY | 10.4M CNY |
| Income tax expenses | -1.2M CNY | -3.7M CNY | -2.6M CNY |
| Net income/(loss) | -130.8M CNY | 11.2M CNY | 7.8M CNY |
| Total comprehensive income/(loss) | -130.8M CNY | 11.2M CNY | 7.8M CNY |
| Net profit/(loss) per share basic (in Dollars per share and Yuan Renminbi per share) | -13.08 CNY | 1.12 CNY | 0.78 CNY |
| Net profit/(loss) per share diluted (in Dollars per share and Yuan Renminbi per share) | -13.08 CNY | 1.12 CNY | 0.78 CNY |
| Weighted average shares outstanding used in calculating basic loss per share (in Shares) | 10.0M shares | 10.0M shares | 10.0M shares |
| Weighted average shares outstanding used in calculating diluted loss per share (in Shares) | 10.0M shares | 10.0M shares | 10.0M shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.2
| Period ending | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
|---|---|---|---|---|
| Cash | 468.7K CNY | 1.3M CNY | ||
| Accounts receivable, net | 43.8M CNY | 41.5M CNY | ||
| Advance to suppliers, net | 26.0M CNY | 8.1M CNY | ||
| Prepaid expenses and other current assets | 17.1M CNY | 167.3K CNY | ||
| Deferred offering cost | 7.7M CNY | |||
| Total current assets | 87.3M CNY | 58.7M CNY | ||
| Deferred tax assets, net | 1.2M CNY | |||
| Total non-current assets | 1.2M CNY | |||
| TOTAL ASSETS | 87.3M CNY | 59.9M CNY | ||
| Short-term borrowings | 4.3M CNY | 4.7M CNY | ||
| Accounts payable | 17.1M CNY | 18.2M CNY | ||
| Contract liabilities | 2.4M CNY | 2.1M CNY | 896.2K CNY | |
| Income tax payable | 7.6M CNY | 7.6M CNY | ||
| Accrued expenses and other current liabilities | 9.5M CNY | 4.8M CNY | ||
| Total current liabilities | 41.4M CNY | 37.5M CNY | ||
| TOTAL LIABLITIES | 41.4M CNY | 37.5M CNY | ||
| Subscription receivable | -725 CNY | -725 CNY | ||
| Additional paid-in capital | 185.8M CNY | 31.5M CNY | ||
| Accumulated deficit | -139.9M CNY | -9.1M CNY | ||
| Total shareholders equity | 45.9M CNY | 22.4M CNY | -20.3M CNY | -28.1M CNY |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | 87.3M CNY | 59.9M CNY |
| Period ending | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-06-30 |
|---|---|---|---|---|
| Cash | 468.7K CNY | 1.3M CNY | ||
| Accounts receivable, net | 43.8M CNY | 41.5M CNY | ||
| Advance to suppliers, net | 26.0M CNY | 8.1M CNY | ||
| Prepaid expenses and other current assets | 17.1M CNY | 167.3K CNY | ||
| Deferred offering cost | 7.7M CNY | |||
| Total current assets | 87.3M CNY | 58.7M CNY | ||
| Deferred tax assets, net | 1.2M CNY | |||
| Total non-current assets | 1.2M CNY | |||
| TOTAL ASSETS | 87.3M CNY | 59.9M CNY | ||
| Short-term borrowings | 4.3M CNY | 4.7M CNY | ||
| Accounts payable | 17.1M CNY | 18.2M CNY | ||
| Contract liabilities | 2.4M CNY | 2.1M CNY | 896.2K CNY | |
| Income tax payable | 7.6M CNY | 7.6M CNY | ||
| Accrued expenses and other current liabilities | 9.5M CNY | 4.8M CNY | ||
| Total current liabilities | 41.4M CNY | 37.5M CNY | ||
| TOTAL LIABLITIES | 41.4M CNY | 37.5M CNY | ||
| Subscription receivable | -725 CNY | -725 CNY | ||
| Additional paid-in capital | 185.8M CNY | 31.5M CNY | ||
| Accumulated deficit | -139.9M CNY | -9.1M CNY | ||
| Total shareholders equity | 45.9M CNY | 22.4M CNY | -20.3M CNY | -28.1M CNY |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | 87.3M CNY | 59.9M CNY |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.2
| Period ending | 2025-06-30 | 2024-06-30 | 2023-06-30 |
|---|---|---|---|
| Net income/(loss) | -130.8M CNY | 11.2M CNY | 7.8M CNY |
| Allowance/(reversal of allowance for credit losses | 9.1M CNY | -344.3K CNY | 5.2M CNY |
| Amortization of operating lease right-of-use assets | 118.3K CNY | 461.1K CNY | |
| Share-based compensation | 119.6M CNY | ||
| Deferred tax assets | 1.2M CNY | 86.1K CNY | -1.3M CNY |
| Accounts receivable | -11.4M CNY | -26.0M CNY | -9.1M CNY |
| Advance to suppliers | -17.9M CNY | 16.5M CNY | -10.1M CNY |
| Prepaid expenses and other current assets | -2.6M CNY | -160.4K CNY | 59.1K CNY |
| Amounts due from related parties | 24.3K CNY | -24.3K CNY | |
| Accounts payable | -1.0M CNY | 977.7K CNY | 2.8M CNY |
| Contract liabilities | 263.5K CNY | 1.2M CNY | -25.6M CNY |
| Income tax payable | -21.8K CNY | 3.6M CNY | 3.9M CNY |
| Accrued expenses and other current liabilities | 4.6M CNY | 288.2K CNY | -3.2M CNY |
| Lease liabilities | -118.3K CNY | -461.1K CNY | |
| Amounts due to related parties | 513.5K CNY | -143.4K CNY | -64.2K CNY |
| Net cash (used in)/provided by operating activities | -28.4M CNY | 7.2M CNY | -29.6M CNY |
| Proceeds from borrowings | 4.5M CNY | 5.0M CNY | 7.6M CNY |
| Repayments of borrowings | -5.0M CNY | -7.5M CNY | -8.0M CNY |
| Proceeds of loans from related parties | 30.0M CNY | ||
| Payment for deferred offering cost | -5.0M CNY | -5.0M CNY | |
| Repayment of loans to related parties | -30.0M CNY | ||
| Net proceeds from initial offering | 47.4M CNY | ||
| Proceeds from shareholder contributions | 31.5M CNY | ||
| Net cash provided by/(used in) financing activities | 42.0M CNY | -6.0M CNY | 29.6M CNY |
| Payments to acquire equity investment of other entities | -14.3M CNY | ||
| Net cash (used in)/provided by investing activity | -14.3M CNY | ||
| Net (decrease)/increase in cash | -784.1K CNY | 1.2M CNY | 8.6K CNY |
| Income tax paid | 26.0K CNY | 16.1K CNY | 14.1K CNY |
| Interest paid | 206.8K CNY | 198.7K CNY | 448.0K CNY |
| Decrease in operating lease right-of-use asset and liabilities due to termination of lease contracts | 610.6K CNY |
No quarter-by-quarter statement was filed.
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Corporate structure
Star Fashion Culture Holdings Ltd sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Star Fashion Culture Holdings Ltd
- Pingting Zhang Filed SCHEDULE 13D on Star Fashion Culture Holdings Ltd, latest Aug 4, 2026 (2 filings since Aug 4, 2026)
- Star Fashion Culture Holdings Ltd
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Star Fashion Culture Holdings Ltd reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Investments
Leadership
Who has led Star Fashion Culture Holdings Ltd, and when. Pick a name to see everywhere that person has worked.
Board members and other officers (3)
- Board memberLeut Ming Gung Mar 18, 2026 to now5
- Board memberMo Zhou Mar 18, 2026 to now6
- Board memberYing Joy Li Apr 13, 2026 to now7
Filings
87 filings to the SEC since October 2021: 2 annual reports, 8 insider forms, 2 large holders, 75 other. The latest 20:
- Sep 28, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 25, 2026424B4 PROSPECTUS SUPPLEMENT EDGAR
- Sep 25, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Sep 24, 2026EFFECT EDGAR
- Sep 17, 2026F-1 REGISTRATION STATEMENT EDGAR
- Aug 4, 2026SCHEDULE 13D EDGAR
- Aug 4, 2026SCHEDULE 13D EDGAR
- Aug 3, 2026DRS EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 16, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 2, 20266-K CURRENT REPORT EDGAR
- May 29, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Apr 13, 20263 EDGAR
- Mar 31, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Mar 26, 2026EFFECT EDGAR
- Mar 24, 2026CORRESP EDGAR
- Mar 24, 20263 EDGAR
- Mar 18, 2026F-3/A AMENDMENT NO. 1 TO FORM F-3 EDGAR
- Mar 18, 20263 EDGAR
The 87 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 22, 2026 | ZHANG PINGTINGChief Financial Officer | Buy | 2,000,000 | $1.30 | $2.6M | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Pingting ZhangSCHEDULE 13D, 2 filings Aug 4, 20268
SEC filer profile
How Star Fashion Culture Holdings Ltd is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARStar Fashion Culture Holdings Ltd1
- CIK0002003061
- Filer statusNon-accelerated filer an emerging growth company; not a shell company4
- Incorporated inCayman Islands4
- Industry code (SIC)7310 Services-Advertising1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business addressRoom 64, Room 401, No. 7 He Ning Er Road, Huli District, Xiamen City, Fujian Province, 361000, China1
- Phone58598986591
- Shares outstanding12,650,000 shares as of Jun 30, 20254
- AuditorEnrome LLP, Singapore PCAOB ID 6907; no auditor attestation of internal control over financial reporting4
- On EDGAR sinceDec 15, 20231
- Filings87 in all: 6-K (17), CORRESP (9), UPLOAD (9), 3 (7), F-1/A (6), DRS/A (5), DRSLTR (5), DRS (4)1
All 22 form types
EFFECT (4), 424B4 (3), F-1 (3), 20-F (2), 424B3 (2), NT 20-F (2), SCHEDULE 13D (2), 4 (1), 8-A12B (1), CERT (1), F-3 (1), F-3/A (1), FWP (1), S-8 (1)
- Latest filingsAnnual report (20-F) Nov 12, 2025
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, par value $0.00001 per share | STFS | Nasdaq |
From the cover page of the 20-F filed Nov 12, 2025 (Section 12(b) of the Exchange Act).4
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5SEC EDGARLeut Ming Gung, Board member
- 6SEC EDGARMo Zhou, Board member
- 7SEC EDGARYing Joy Li, Board member
- 8