Star Fashion Culture Holdings Limited (STFS) Balance Sheet

NASDAQ: STFSAssets, liabilities, debt and equity over 4 years.

STFS balance sheet, FY2025

June 30, 2025 · Chinese yuan

CN¥87.3M assets = CN¥41.4M liabilities + CN¥45.9M equity

Both columns are drawn to the same scale: what STFS owns equals what it owes plus shareholders’ equity. Hover a block for its value.

STFS financial health

Current ratio2.11

Comfortable · current assets cover current liabilities 2.11×

Debt / equity0.12

Low leverage · CN¥0.12 of debt for each $1 of equity

Equity / assets52.6%

Equity-funded · of assets funded by shareholders

Cash / debt8.7%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2025.

STFS balance sheet trends, FY2022–FY2025

Star Fashion Culture Holdings Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥27.0MFY2022	CN¥87.3MFY2025	+48.0%/yr
Total liabilities	CN¥55.1MFY2022	CN¥41.4MFY2025	−9.0%/yr
Shareholders’ equity	−CN¥28.1MFY2022	CN¥45.9MFY2025	—
Cash & short-term investments	CN¥39,964FY2022	CN¥468,731FY2025	+127.2%/yr
Total debt	CN¥11.2MFY2022	CN¥5.4MFY2025	−21.6%/yr
Net cash (debt)	−CN¥11.2MFY2022	−CN¥4.9MFY2025	+CN¥6.3M
Working capital	−CN¥28.6MFY2022	CN¥45.9MFY2025	+CN¥74.5M
Current ratio	0.47FY2022	2.11FY2025	+1.63
Debt / equity	0.24FY2024	0.12FY2025	−0.12
Shares outstanding	304KFY2022	349KFY2025	+4.7%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

STFS assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

STFS liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

STFS debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

STFS balance sheet in Chinese yuan

Star Fashion Culture Holdings Limited annual balance sheet
	FY2025	FY2024	FY2023	FY2022
Assets
Cash & short-term investments	CN¥468,731	CN¥1.3M	CN¥48,527	CN¥39,964
Cash & equivalents	CN¥468,731	CN¥1.3M	CN¥48,527	CN¥39,964
Receivables	CN¥45.3M	CN¥41.5M	CN¥15.5M	CN¥6.3M
Inventory	CN¥0	CN¥0	CN¥0	CN¥0
Other current assets	CN¥41.5M	CN¥15.9M	CN¥24.2M	CN¥19.4M
Total current assets	CN¥87.3M	CN¥58.7M	CN¥39.8M	CN¥25.8M
Property, plant & equipment (net)	CN¥0	CN¥0	CN¥728,885	CN¥1.2M
Goodwill & intangible assets	CN¥0	CN¥0	CN¥0	CN¥0
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥0	CN¥1.2M	CN¥1.3M	CN¥0
Total assets	CN¥87.3M	CN¥59.9M	CN¥41.8M	CN¥27.0M
Liabilities
Accounts payable	CN¥17.1M	CN¥18.2M	CN¥17.2M	CN¥14.3M
Short-term debt	CN¥5.4M	CN¥5.3M	CN¥8.3M	CN¥10.5M
Deferred revenue	CN¥2.4M	CN¥2.1M	CN¥896,226	CN¥26.5M
Total current liabilities	CN¥41.4M	CN¥37.5M	CN¥61.8M	CN¥54.3M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	—	CN¥0	CN¥728,885	CN¥1.2M
Other long-term liabilities	CN¥0	CN¥0	CN¥248,072	CN¥728,885
Total liabilities	CN¥41.4M	CN¥37.5M	CN¥62.1M	CN¥55.1M
Shareholders' equity
Common stock & paid-in capital	CN¥1,000	CN¥725	CN¥725	CN¥725
Retained earnings (deficit)	−CN¥139.9M	−CN¥9.1M	−CN¥20.3M	−CN¥28.1M
Accumulated other comprehensive income	−CN¥725	−CN¥724	−CN¥725	−CN¥725
Total shareholders' equity	CN¥45.9M	CN¥22.4M	−CN¥20.3M	−CN¥28.1M
Key figures
Total debt	CN¥5.4M	CN¥5.3M	CN¥8.6M	CN¥11.2M
Net cash (debt)	−CN¥4.9M	−CN¥4.1M	−CN¥8.5M	−CN¥11.2M
Working capital	CN¥45.9M	CN¥21.2M	−CN¥22.1M	−CN¥28.6M
Tangible book value	CN¥45.9M	CN¥22.4M	−CN¥20.3M	−CN¥28.1M
Shares outstanding	349K	304K	271K	304K
Current ratio	2.11	1.57	0.64	0.47
Quick ratio	1.11	1.14	0.25	0.12
Debt / equity	0.12	0.24	—	—
Equity / assets	52.6%	37.5%	−48.5%	−104.2%

Star Fashion Culture Holdings Limited quarterly balance sheet
	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23	Jun '23
Assets
Cash & short-term investments	CN¥48.2M	CN¥778,567	CN¥778,567	CN¥468,731	CN¥468,731	CN¥48.2M	CN¥48.2M	CN¥1.3M	CN¥1.3M	CN¥204,887	CN¥204,887	CN¥48,527
Cash & equivalents	CN¥48.2M	CN¥778,567	CN¥778,567	CN¥468,731	CN¥468,731	CN¥48.2M	CN¥48.2M	CN¥1.3M	CN¥1.3M	CN¥204,887	CN¥204,887	CN¥48,527
Receivables	CN¥38.0M	CN¥67.4M	CN¥67.4M	CN¥43.8M	CN¥43.8M	CN¥38.0M	CN¥38.0M	CN¥41.5M	CN¥41.5M	CN¥28.7M	CN¥28.6M	CN¥15.5M
Inventory	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other current assets	CN¥18.5M	CN¥59.3M	CN¥59.3M	CN¥43.1M	CN¥43.1M	CN¥18.5M	CN¥18.5M	CN¥15.9M	CN¥15.9M	CN¥15.9M	CN¥16.1M	CN¥24.2M
Total current assets	CN¥104.6M	CN¥127.4M	CN¥127.4M	CN¥87.3M	CN¥87.3M	CN¥104.6M	CN¥104.6M	CN¥58.7M	CN¥58.7M	CN¥44.8M	CN¥44.8M	CN¥39.8M
Property, plant & equipment (net)	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥728,885
Goodwill & intangible assets	CN¥0	CN¥2.7M	CN¥2.7M	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Other non-current assets	CN¥1.1M	CN¥7.6M	CN¥7.6M	CN¥0	CN¥0	CN¥1.1M	CN¥1.1M	CN¥1.2M	CN¥1.2M	CN¥1.2M	CN¥1.2M	CN¥1.3M
Total assets	CN¥105.7M	CN¥137.7M	CN¥137.7M	CN¥87.3M	CN¥87.3M	CN¥105.7M	CN¥105.7M	CN¥59.9M	CN¥59.9M	CN¥46.0M	CN¥46.0M	CN¥41.8M
Liabilities
Accounts payable	CN¥22.0M	CN¥19.7M	CN¥19.7M	CN¥17.1M	CN¥17.1M	CN¥22.0M	CN¥22.0M	CN¥18.2M	CN¥18.2M	CN¥10.4M	CN¥10.4M	CN¥17.2M
Short-term debt	CN¥4.5M	CN¥4.0M	CN¥4.5M	—	CN¥5.9M	CN¥4.5M	CN¥4.5M	—	CN¥5.3M	CN¥5.3M	CN¥5.3M	CN¥8.3M
Deferred revenue	CN¥5.5M	CN¥3.9M	CN¥2.4M	—	—	CN¥5.5M	CN¥2.1M	—	—	CN¥2.3M	—	CN¥896,226
Total current liabilities	CN¥43.0M	CN¥41.1M	CN¥41.1M	CN¥41.4M	CN¥41.4M	CN¥43.0M	CN¥43.0M	CN¥37.5M	CN¥37.5M	CN¥27.0M	CN¥27.0M	CN¥61.8M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	—	—	—	—	—	—	—	CN¥0	—	CN¥0	—	CN¥728,885
Other long-term liabilities	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥248,072
Total liabilities	CN¥43.0M	CN¥41.1M	CN¥41.1M	CN¥41.4M	CN¥41.4M	CN¥43.0M	CN¥43.0M	CN¥37.5M	CN¥37.5M	CN¥27.0M	CN¥27.0M	CN¥62.1M
Shareholders' equity
Common stock & paid-in capital	CN¥886	CN¥2,377	CN¥2,377	—	CN¥1,000	CN¥886	CN¥886	—	CN¥725	CN¥725	CN¥725	CN¥725
Retained earnings (deficit)	−CN¥11.8M	−CN¥145.3M	−CN¥145.3M	−CN¥139.9M	−CN¥139.9M	−CN¥11.8M	−CN¥11.8M	−CN¥9.1M	−CN¥9.1M	−CN¥12.4M	−CN¥12.4M	−CN¥20.3M
Accumulated other comprehensive income	−CN¥885	−CN¥725	−CN¥724	—	−CN¥725	−CN¥885	−CN¥885	—	−CN¥724	−CN¥724	−CN¥724	−CN¥725
Total shareholders' equity	CN¥62.7M	CN¥96.6M	CN¥96.6M	CN¥45.9M	CN¥45.9M	CN¥62.7M	CN¥62.7M	CN¥22.4M	CN¥22.4M	CN¥19.1M	CN¥19.1M	−CN¥20.3M
Key figures
Total debt	CN¥4.5M	CN¥4.0M	CN¥4.5M	—	CN¥5.9M	CN¥4.5M	CN¥4.5M	—	CN¥5.3M	CN¥5.3M	CN¥5.3M	CN¥8.6M
Net cash (debt)	CN¥43.6M	−CN¥3.2M	−CN¥3.7M	—	−CN¥5.5M	CN¥43.6M	CN¥43.6M	—	−CN¥4.1M	−CN¥5.1M	−CN¥5.1M	−CN¥8.5M
Working capital	CN¥61.6M	CN¥86.3M	CN¥86.3M	CN¥45.9M	CN¥45.9M	CN¥61.6M	CN¥61.6M	CN¥21.2M	CN¥21.2M	CN¥17.9M	CN¥17.9M	−CN¥22.1M
Tangible book value	CN¥62.7M	CN¥93.9M	CN¥93.9M	CN¥45.9M	CN¥45.9M	CN¥62.7M	CN¥62.7M	CN¥22.4M	CN¥22.4M	CN¥19.1M	CN¥19.1M	−CN¥20.3M
Shares outstanding	250K	832K	33.3M	349K	250K	250K	250K	12.2M	250K	304K	10.0M	304K
Current ratio	2.43	3.10	3.10	2.11	2.11	2.43	2.43	1.57	1.57	1.66	1.66	0.64
Quick ratio	2.00	1.66	1.66	1.07	1.07	2.00	2.00	1.14	1.14	1.07	1.07	0.25
Debt / equity	0.07	0.04	0.05	—	0.13	0.07	0.07	—	0.24	0.28	0.28	—
Equity / assets	59.3%	70.1%	70.1%	52.6%	52.6%	59.3%	59.3%	37.5%	37.5%	41.4%	41.4%	−48.5%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed November 12, 2025); data from EODHD.

STFS financial position

At the end of fiscal 2025 (June 30, 2025), Star Fashion Culture had total assets of CN¥87.3 million (up 45.9% from a year earlier), total liabilities of CN¥41.4 million and shareholders' equity of CN¥45.9 million. It held CN¥0.5 million in cash and short-term investments against CN¥5.4 million of debt, net debt of CN¥4.9 million. Its current ratio was 2.11. In the latest quarter (ended March 31, 2026) total assets were CN¥105.7 million and equity CN¥62.7 million.

Related: STFS income statement, STFS cash flow statement, STFS key metrics. See the STFS stock overview for the latest quote and news.

STFS balance sheet FAQ

What are Star Fashion Culture's total assets?

Star Fashion Culture reported total assets of CN¥87.3 million at the end of fiscal 2025 (June 30, 2025), compared with CN¥59.9 million a year earlier.

How much debt does Star Fashion Culture have?

Star Fashion Culture had CN¥5.4 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.12.

How much cash does Star Fashion Culture have?

Star Fashion Culture held CN¥0.5 million in cash and short-term investments at the end of fiscal 2025; with CN¥5.4 million of debt that is net debt of CN¥4.9 million.

What is Star Fashion Culture's book value?

Star Fashion Culture's shareholders' equity (book value) was CN¥45.9 million at the end of fiscal 2025.

What is Star Fashion Culture's current ratio?

Star Fashion Culture had current assets of CN¥87.3 million and current liabilities of CN¥41.4 million, a current ratio of 2.11 (it can cover its short-term obligations).