# EDGAR Filing Document

**Accession Number:** 0001785680
**File Stem:** 0001104659-25-062279
**Filing Date:** 2025-6
**Character Count:** 13948
**Document Hash:** e9a7d452c89cbdd305549469aab7ad35
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-062279.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001104659-25-062279

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250625

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Santech Holdings Ltd
- **CENTRAL INDEX KEY:** 0001785680
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40238
- **FILM NUMBER:** 251070798

**BUSINESS ADDRESS:**
- **STREET 1:** F3
- **STREET 2:** 8 YINCHENG MID. ROAD, PUDONG NEW DIST.
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200120
- **BUSINESS PHONE:** 8602180133888

**MAIL ADDRESS:**
- **STREET 1:** F3
- **STREET 2:** 8 YINCHENG MID. ROAD, PUDONG NEW DIST.
- **CITY:** SHANGHAI
- **STATE:** F4
- **ZIP:** 200120

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hywin Holdings Ltd.
- **DATE OF NAME CHANGE:** 20190816

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER<br> PURSUANT TO RULE 13a-16 OR 15d-16 UNDER<br> THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of June 2025**

**Commission File Number: 001-40238**

**SANTECH HOLDINGS LIMITED**

**Level 15, AIA Central, No.1 Connaught Road Central**

**Central, Hong Kong**

**(Address of principal executive office)**

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 ◻

**EXPLANATORY NOTE**

Santech Holdings Ltd. ("Santech" or the "Company") (NASDAQ: STEC) today announced its unaudited financial results for the first half of fiscal year 2025 ended December 31, 2024. A copy of the press release is attached hereto as Exhibit 99.1.

**Exhibits**

[99.1](tm2518649d1_ex99-1.htm) [Press release dated June 25, 2025](tm2518649d1_ex99-1.htm)

SIGNATURE

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.

---

| | |
|:---|:---|
| Santech Holdings Limited | Santech Holdings Limited |
| By: | /s/ Lawrence Lok |
| Name: | Lawrence Lok |
| Title: | Chairman and CEO |

---

Date: June 25, 2025

## Exhibit 99.1

**Exhibit 99.1**

**Santech Holdings Announces Unaudited Financial Results for the First Half of Fiscal Year 2025**

HONG KONG, June 25, 2025 /globenewswire.com/ -- Santech Holdings Ltd. ("Santech" or the "Company") (NASDAQ: STEC) today announced its unaudited financial results for the first half of fiscal year 2025 ended December 31, 2024.

Santech is a Cayman Islands holding company operating through its subsidiaries in Hong Kong and United States, primarily focusing on exploring opportunities in consumer technology, consumer healthcare and enterprise technology.

**First Half of Fiscal Year 2025 Highlights**

**Continuing Operations**

***Net revenues***

**Total revenues from continuing operations** in the six months ended December 31, 2024 decreased to nil from US$17.4 million in the same period of 2023, primarily due to Company having completely exited from overseas wealth management and asset management businesses during the reporting period. All remaining revenues from our prior overseas wealth management and asset management businesses during the reporting period have been reclassified under discontinued operations.

***Operating Costs and Expenses***

**Cost of compensation and benefits from continuing operations** in the six months ended December 31, 2024 decreased to nil from US$13.2 million in the same period of 2023.

**Sales and marketing expenses from continuing operations** decreased to nil from US$1.5 million in the same period of 2023.

All direct costs of revenue from overseas wealth management and asset management during the reporting period have been reclassified under discontinued operations.

**General and administrative expenses from continuing operations** in the six months ended December 31, 2024 decreased by 4.3% to US$2.4 million from US$2.5 million in the same period of 2023, primarily due to ongoing cost cutting and restructuring.

**Other expenses, net from continuing operations** in the six months ended December 31, 2024 were US$0.2 million, primarily due to the losses on early termination of operating lease.

**Discontinued Operations**

Results of discontinued operations are as follows:

---

| | | |
|:---|:---|:---|
|  | **Six Months<br> Ended<br> December 31,<br> 2023** | **Two Months<br> Ended<br> August 31, <br> 2024** |
|  | **(US$'000)** | **(US$'000)** |
| **<u>Discontinued operations</u>** |  |  |
| **Net revenues** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wealth management | 2442 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset management | 1788 | 1170 |
| **Total net revenues** | **4230** | **1181** |
| **Operating cost and expenses** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 1358 | 602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing expenses | 315 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses | 656 | 266 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset impairment loss | 2158 | - |
| **Total operating cost and expenses** | **4487** | **868** |
| **(Loss)/ income from operations** | **(257)** | **313** |
| **Other expense, net** | **(4)** | **(1)** |
| **Income/ (loss) before income tax expense** | **(261)** | **312** |
| &nbsp;&nbsp;&nbsp;Income tax (expense)/ credit | (145) | (29) |
| **Net income / (loss) from discontinued operations** | **(406)** | **283** |
| **Gain on disposal of subsidiaries from discontinued operations, net** | **-** | **138** |
| **(Loss)/ income for the year from discontinued operations, net of income taxes** | **(406)** | **421** |

---

In August 2024, the Company completely exited from its historical businesses in overseas wealth management and asset management and disposed of certain subsidiaries in Hong Kong, namely, Haiyin Insurance (Hong Kong) Co., Limited and Hywin International Insurance Broker Limited for nil consideration, and Haiyin International Asset Management Limited and Hywin Asset Management (Hong Kong) Limited for US$0.6 million to a third party. The disposal was completed on August 31, 2024. After the disposals, the Company no longer holds any financial services licenses or houses any personnel licensed to provide financial services in Hong Kong.

***Net revenues***

**Total revenues from discontinued operations** in the two months ended August 31, 2024 decreased by 72.1% to US$1.2 million from US$4.2 million in the six months ended December 31, 2023, primarily due to cessation of operations in wealth management and asset management.

***Operating Costs and Expenses***

**Cost of compensation and benefits from discontinued operations** in the two months ended August 31, 2024 decreased by 55.7% to US$0.6 million from US$1.4 million, in line with the decreases in transaction value of wealth management and asset management businesses.

**Sales and marketing expenses** decreased to nil from US$0.3 million in the six months ended December 31, 2023, due to discontinuation of sales and marketing activities.

**General and administrative expenses from discontinued operations** in the two months ended August 31, 2024 decreased by 59.5% to US$0.3 million from US$0.7 million in the six months ended December 31, 2023.

**Asset impairment loss from discontinued operations** in the six months ended December 31, 2023 represented impairment losses due to impairment of assets held in the PRC, and impairment of intangible assets including software and licenses due to disruption to our brand and our licensed financial services operations in Hong Kong.

**Loss from disposal of subsidiaries under discontinued operations**

---

| | | | |
|:---|:---|:---|:---|
|  | **Wealth<br> management<br> business** | **Asset<br> management<br> business** | **Total** |
|  | **(US$'000)** | **(US$'000)** | **(US$'000)** |
| Considerations received |  | 641 | 641 |
| Less: Net assets disposed of | (134) | (369) | (503) |
| **(Loss)/ gain from disposal of subsidiaries** | (134) | **272** | **138** |

---

**SANTECH HOLDINGS LTD.**

**CONSOLIDATED BALANCE SHEETS**

(In thousands, except for number of shares and per share data)

---

| | | |
|:---|:---|:---|
|  | **June 30,<br> 2024** | **December <br> 31, 2024** |
|  | **(US$'000)** | **(US$'000)** |
| **Assets** |  |  |
| **Current assets:** |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | 15184 | 11233 |
| &nbsp;&nbsp;&nbsp;Deposits, prepayments and other current assets | 320 | 72 |
| **Total current assets** | **15504** | **11305** |
| &nbsp;&nbsp;&nbsp;Property and equipment, net | 3 | 4 |
| &nbsp;&nbsp;&nbsp;Right-of-use asset | 1235 | - |
| **Total non-current assets** | **1238** | **4** |
| **Total Assets** | **16742** | **11309** |
| **Liabilities and Shareholders' equity** |  |  |
| **Current liabilities:** |  |  |
| &nbsp;&nbsp;&nbsp;Commission payable | 859 |  |
| &nbsp;&nbsp;&nbsp;Income tax payable | 91 |  |
| &nbsp;&nbsp;&nbsp;Due to related parties | 11488 | 11062 |
| &nbsp;&nbsp;&nbsp;Other payables and accrued liabilities | 433 | 7 |
| &nbsp;&nbsp;&nbsp;Lease liability | 1059 | - |
| **Total current liabilities** | **13930** | **11069** |
| &nbsp;&nbsp;&nbsp;Lease liability | 250 | - |
| **Total non-current liabilities** | **250** | **-** |
| **Total Liabilities** | **14180** | **11069** |
| **Shareholders' Equity:** |  |  |
| &nbsp;&nbsp;&nbsp;Ordinary shares (US$0.0001 par value; authorized 500,000,000 shares; issued and outstanding 56,000,000\* shares (28,000,000 ADS) as of June 30, 2024, and December 31, 2024, respectively) | 6 | 6 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital | 33256 | 33256 |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (30700) | (33022) |
| **Total shareholders' equity** | **2562** | **240** |
| **Total Liabilities and shareholders' equity** | **16742** | **11309** |

---

**SANTECH HOLDINGS LTD.**

**CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS**

(In Thousands, except for share and per share data, or otherwise stated)

---

| | | |
|:---|:---|:---|
|  | **Six Months Ended December 31,** | **Six Months Ended December 31,** |
|  | **2023** | **2024** |
|  | **(US$'000)** | **(US$'000)** |
| **<u>Continuing operations</u>** |  |  |
| **Net revenues** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance referral | 17351 | - |
| **Total net revenues** | **17351** | **-** |
| **Operating cost and expenses** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 13210 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation expense | 102 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales and marketing expenses | 1512 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses | 2469 | 2364 |
| **Total operating cost and expenses** | **17293** | **2364** |
| **Income/ (loss) from operations** | **58** | **(2364)** |
| **Other income/ (expenses)** |  |  |
| Interest expense, net | (63) | (17) |
| Other income/ (expense), net | 72 | (245) |
| **Total other income/ (expense), net** | **9** | **(262)** |
| **Income/ (loss) before income tax expense** | **67** | **(2626)** |
| &nbsp;&nbsp;&nbsp;Income tax (expense)/ credit | - | (117) |
| **Net income / (loss) from continuing operations** | **67** | **(2743)** |
| **<u>Discontinued operations</u>** |  |  |
| **(Loss)/ income for the year from discontinued operations, net of income taxes** | **(406)** | **421** |
| **Net loss and comprehensive loss for the period** | **(339)** | **(2322)** |
| **(Loss)/ income per share** |  |  |
| **From continuing and discontinued operations** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ordinary share - Basic | (0.01) | (0.04) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ordinary share - diluted | (0.01) | (0.04) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADS - Basic | (0.01) | (0.08) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADS - Diluted | (0.01) | (0.08) |
| **From continuing operations** |  |  |
| Ordinary share - Basic | **0.00** | **(0.05)** |
| Ordinary share - diluted | **0.00** | **(0.05)** |
| ADS - Basic | **0.00** | **(0.10)** |
| ADS - Diluted | **0.00** | **(0.10)** |
| **From continuing and discontinued operations** |  |  |
| Ordinary share - Basic | **(0.01)** | **0.01** |
| Ordinary share - diluted | **(0.01)** | **0.01** |
| ADS - Basic | **(0.01)** | **0.02** |
| ADS - Diluted | **(0.01)** | **0.02** |
| **Weighted average number outstanding:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ordinary share - Basic | 56000000 | 56000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ordinary share - Diluted | 56000000 | 56000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADS - Basic | 28000000 | 28000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ADS - Diluted | 28000000 | 28000000 |

---

**SANTECH HOLDINGS LTD.**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

(In Thousands, except for share and per share data, or otherwise stated)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Ordinary shares | Ordinary shares | | | |
|  | Number of ordinary<br> shares | Amount |<br>Additional<br> paid-in <br> capital |<br>Accumulated<br> deficit |<br>Total<br> Shareholders'<br> equity |
|  | | (US$'000) | (US$'000) | (US$'000) | (US$'000) |
| **Balance as of June 30, 2024** | 56000000 | 6 | 33256 | (30700) | 2562 |
| Net loss for the period | - | - | - | (2322) | (2322) |
| **Balance as of December 31, 2024** | 56000000 | 6 | 33256 | (33022) | 240 |

---