Company: XHG
Filing Date: 2025-01-22
Form Type: 20-F
Source: 0001213900-25-005499
Chunk: 121

Company: XChange TEC.INC
Filing Date: 2025-01-22
Form: 20-F
Item: Item 5
Chunk 121
---

financial statements have been prepared on a basis that assumes we will continue as a going concern and which contemplates the realization
of assets and satisfaction of liabilities and commitments in the ordinary course of our business.

The following table sets forth a summary of our
cash flows for the years indicated:

                                                                                               FY 2022      FY 2023      FY 2024              
                                                                                                   RMB      RMB              RMB              
                                                                                        (in thousands)                                        
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net cash used in operating activities from continuing operations                              (7,093      (22,178       (8,955      (1,277  
  Net cash provided by (used in) operating activities from discontinued operations             (37,240      (17,689         (815        (116  
  Net cash used in operating activities                                                        (44,333      (39,867       (9,770      (1,393  
  Net cash used in investing activities from continuing operations                                   —      —             10,174       1,449  
  Net cash used in investing activities from discontinued operations                           (11,468      —                  —           —  
  Net cash used in investing activities                                                        (11,468      —             10,174       1,449  
  Net cash provided by financing activities from continuing operations                          30,616      37,887         8,669       1,235  
  Net cash provided by (used in) financing activities from discontinued operations               3,436      —                  —           —  
  Net cash provided by financing activities                                                     34,052      37,887         8,669       1,235  
  Effect of foreign exchange rate changes                                                        5,375      203            2,911         416  
  Net decrease in cash, cash equivalents and restricted cash                                   (16,374      (1,777        11,984       1,707  
  Cash, cash equivalents and restricted cash at the beginning of the year                       19,252      2,878          1,101         157  
  Cash, cash equivalents and restricted cash at the end of the year                              2,878      1,101         13,085       1,864  

Operating Activities

Net cash used in operating activities was RMB9.0
million (US$1.3 million) in FY