Boqii Holding Ltd

Listed Company

BQCIK 0001815021NYSENon-AcceleratedEmerging GrowthRetail-Retail Stores, NecE9KYFY ends Mar 31

Period

FY 2026

Revenue

$420.47M

Net Income

$-5.08M

Total Assets

$241.77M

Equity

$188.00M

Shares Out

22.24M

Op. Cash Flow

$-29.29M

BQ$0.84−68.88% · past yearDBEQ Basic

Daily closing prices

Business

Boqii Holding Ltd is a leading pet-focused e-commerce platform in China offering a one-stop destination for pet products and services. The company operates online sales platforms (Boqii Mall and flagship stores on third-party e-commerce platforms), a community content platform (Boqii Community), and an offline distribution network serving over 15,000 physical pet stores and pet hospitals. Boqii generates revenue primarily from product sales (branded and private label products including Yoken, Mocare, and D-cat brands), marketing services to brand partners, and supplies to offline retailers across China.

Summary from 20-F filed 2026-07-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Net revenues:	—	—	—
Total revenues	420	469	709
Total cost of revenue	310	368	569
Gross profit	110	101	141
Operating expenses:	—	—	—
Fulfillment expenses	23	36	60
Sales and marketing expenses	82	75	85
General and administrative expenses	36	51	59
Other income, net	399,000	736,000	3
Loss from operations	−30	−59	−60
Interest income	431,000	972,000	3
Interest expense	825,000	7	7
Other loss, net	30	−236,000	−4
Fair value change of derivative liabilities	−5,000	−6	1
Loss before income tax expenses	−852,000	−59	−70
Income tax benefit	1	−801,000	−927,000
Share of results of equity investees	242,000	−22,000	50,000
Net loss	−2	−59	−69
Less: Net loss attributable to the non-controlling interest shareholders	3	−4	−5
Net loss attributable to Boqii Holding Limited	−5	−54	−64
Accretion on redeemable non-controlling interests to redemption value	509,000	841,000	766,000
Net loss attributable to Boqii Holding Limited’s ordinary shareholders	−6	−55	−64
Other comprehensive income (loss):	—	—	—
Foreign currency translation adjustment, net of tax	506,000	840,000	1
Unrealized securities holding losses/(gains)	−13	869,000	−4
Total comprehensive loss	−14	−57	−71
Less: Total comprehensive loss attributable to non- controlling interests shareholders	3	−4	−5
Total comprehensive loss attributable to Boqii Holding Limited	−17	−52	−66
Net loss per share attributable to Boqii Holding Limited’s ordinary shareholders	—	—	—
— basic (in Dollars per share and Yuan Renminbi per share)	−1.47	−45.6	−102.4
— diluted (in Dollars per share and Yuan Renminbi per share)	−1.47	−45.6	−102.4
Weighted average number of ordinary shares	—	—	—
— basic (in Shares)	4	1	628,986
— diluted (in Shares)	4	1	628,986

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
Current assets:	—	—
Cash and cash equivalents	49	39
Short-term investments	—	4
Accounts receivable, net	12	29
Inventories, net	26	40
Prepayments and other current assets	88	90
Amounts due from related parties	18	20
Total current assets	194	222
Non-current assets:	—	—
Property and equipment, net	1	4
Intangible assets	94,000	15
Operating lease right-of-use assets	4	3
Long-term investments	36	65
Amounts due from related parties, non-current	5	5
Other non-current asset	2	2
Total non-current assets	48	94
Total assets	242	316
Current liabilities	—	—
Short-term borrowings (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB 63 and RMB 8,000 as of March 31, 2025 and 2026, respectively)	16	9
Accounts payable (including accounts payable of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB 421 and RMB 438 as of March 31, 2025 and 2026, respectively)	8	20
Salary and welfare payable (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB57 and RMB 535 as of March 31, 2025 and 2026, respectively)	1	2
Accrued liabilities and other current liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB 3,563 and RMB 468 as of March 31, 2025 and 2026, respectively)	31	12
Contract liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB 1,768 and RMB 1,466 as of March 31, 2025 and 2026, respectively)	2	2
Operating lease liabilities, current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB1,284 and RMB 873 as of March 31, 2025 and 2026, respectively)	1	2
Derivative liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2025 and 2026, respectively)	—	5,000
Total current liabilities	60	46
Non-current liabilities	—	—
Deferred tax liabilities (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of Nil as of March 31, 2025 and 2026, respectively)	—	2
Operating lease liabilities, non-current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB 538 and RMB 2021 as of March 31, 2025 and 2026, respectively)	2	851,000
Other debts, non-current (including amounts of the consolidated VIEs and VIEs’ subsidiaries without recourse to the Company of RMB200 and RMB 200 as of March 31, 2025 and 2026, respectively)	200,000	39
Total non-current liabilities	2	42
Total liabilities	62	88
Commitments and contingencies (Note 26)	—	—
Mezzanine equity:	—	—
Redeemable non-controlling interests	—	9
Total mezzanine equity	—	9
Shareholders’ equity:	—	—
Ordinary shares value	5	3
Additional paid-in capital	3,364	3,342
Statutory reserves	2	4
Accumulated other comprehensive loss	−57	−38
Accumulated deficit	−3,121	−3,115
Receivable for issuance of ordinary shares	6	6
Total Boqii Holding Limited shareholders’ equity	188	190
Non-controlling interests	−8	30
Total shareholders’ equity	180	220
Total liabilities, mezzanine equity and shareholders’ equity	242	316

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
Cash flows from operating activities:	—	—	—
Net loss	−2	−59	−69
Adjustments to reconcile net loss to net cash provided by operating activities:	—	—	—
Depreciation and amortization expense	1	5	6
Provision for inventories obsolescence/(reversal)	358,000	154,000	−223,000
Allowance for expected credit loss/(reversal)	137,000	−332,000	−116,000
Interest expense of other debts	—	6	5
Amortization of right-of-use assets	3	10	18
Interest of lease liabilities	87,000	318,000	199,000
Investment loss	6	61,000	2
Share of results of equity investees	242,000	−22,000	50,000
Discount on the ordinary shares issued by public offering	—	—	6
Loss/(gain) on disposal of property and equipment and intangible assets	168,000	463,000	−46,000
Loss on disposal of other debts	10	—	−1
Gain/(loss) from disposal of a subsidiary	13	—	49,000
Share-based compensation expense	5,000	81,000	679,000
Fair value change of derivative liabilities	−5,000	−6	1
Deferred tax expense	1	−801,000	−907,000
Changes in operating assets and liabilities, net of effects of businesses acquired:	—	—	—
Accounts receivable	−3	−21	−27
Inventories	−8	−15	−27
Prepayments and other current assets	2	27	−11
Amounts due from related parties	−1	13	−2
Operating lease liabilities	−3	−10	−18
Accounts payable	−11	−5	−32
Salary and welfare payable	−458,000	−1	−4
Accrued liabilities and other current liabilities	−320,000	−4	−5
Amounts due to related parties	—	—	−471,000
Contract liabilities	1	189,000	−3
Other non-current assets	−186,000	−1	−2
Net cash used in operating activities	−29	−67	−25
Cash flows from investing activities:	—	—	—
Loan advanced to third parties	2	701,000	3
Repayments on loan receivables from third parties	−1	−3	−4
Loan advanced to related parties	680,000	2	5
Repayments on loan receivables from related parties	−230,000	−2	−3
Disposal of subsidiaries, net of cash and cash equivalents acquired	−10	—	37,000
Decrease/(increase) in short-term investments, net	—	4	−70
Purchase of intangible assets	—	9,000	36,000
Purchase of property and equipment	1	3	527,000
Proceeds from disposal of property and equipment	211,000	357,000	213,000
Deposits to be used in connection with future acquisitions	—	−29	29
Disposal of long-term investments	16	300,000	8
Net cash generated from investing activities	24	25	48
Cash flows from financing activities:	—	—	—
Proceeds from short-term and long-term borrowings	19	32	15
Repayments of short-term and long-term borrowings	12	38	86
Proceeds from issuance of other debts, net of issuance costs	—	10	9
Repayments of other debts	15	10	7
Proceeds from exercise of share option	—	—	29,000
Proceeds from issuance of ordinary shares, net of issuance costs	24	15	36
Net cash flows (used in) /generated from financing activities	16	8	−33
Net (decrease)/ increase in cash and cash equivalents	11	−34	−11
Cash and cash equivalents at beginning of year	39	73	90
Effects of exchange rate changes on cash and cash equivalents	—	20,000	−6
Cash and cash equivalents at end of year	49	39	73
Supplemental schedule of non-cash investing and financing activities:	—	—	—
Accretion on redeemable non-controlling interests	509,000	841,000	766,000
Unpaid cash consideration for business acquisitions	−3	−3	−3
Additional ASC 842 supplemental disclosure:	—	—	—
Cash paid for fixed operating lease costs included in the measurement of lease obligations in operating activities	3	10	18
Right-of-use assets obtained in exchange for operating lease obligations	4	4	5

Filings

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Frequently asked questions

What is Boqii Holding Ltd's CIK number?

Boqii Holding Ltd's SEC CIK number is 0001815021 (1815021). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

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