Maase Inc. (MAAS) Income Statement
MAAS FY2025 at a glance
Fiscal year ended June 30, 2025 · Chinese yuanMAAS revenue and net income
Where MAAS's revenue goes
FY2025Each bar shows an amount and its share of revenue. MAAS kept −24.2% of revenue as net income.
MAAS profit margins
MAAS growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −31.0% | +63.0% | +44.6% | — |
| Gross profit | −55.2% | +16.3% | +16.6% | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MAAS income statement in Chinese yuan
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥817.9M | CN¥1.19B | CN¥114.4M | CN¥188.7M | CN¥191.2M | CN¥129.5M | CN¥203.2M | CN¥165.8M | CN¥155.7M |
| Cost of revenue | CN¥607.4M | CN¥715.6M | CN¥20.3M | CN¥55.1M | CN¥44.0M | CN¥31.8M | CN¥31.1M | CN¥28.8M | CN¥53.4M |
| Gross profit | CN¥210.4M | CN¥469.7M | CN¥94.2M | CN¥133.7M | CN¥147.2M | CN¥97.7M | CN¥172.1M | CN¥137.0M | CN¥102.3M |
| Sales, general & admin | — | CN¥504.1M | CN¥153.0M | CN¥207.8M | CN¥220.3M | CN¥151.2M | CN¥116.1M | CN¥74.1M | CN¥55.1M |
| Total operating expenses | CN¥435.8M | CN¥930.5M | CN¥153.0M | CN¥207.8M | CN¥220.3M | CN¥151.2M | CN¥116.1M | CN¥74.1M | CN¥55.1M |
| Operating income | −CN¥225.3M | −CN¥460.8M | −CN¥58.8M | −CN¥74.1M | −CN¥73.2M | −CN¥53.5M | CN¥56.1M | CN¥62.9M | CN¥47.2M |
| Interest income | — | CN¥16.6M | CN¥8.6M | CN¥7.5M | CN¥10.9M | — | — | — | — |
| Interest expense | — | — | — | — | CN¥0 | — | CN¥1.0M | — | CN¥2.3M |
| Income before taxes | −CN¥360.2M | −CN¥499.1M | −CN¥35.0M | −CN¥61.6M | −CN¥55.7M | −CN¥35.9M | CN¥61.4M | CN¥71.9M | CN¥47.5M |
| Income taxes | −CN¥19.9M | CN¥12.9M | CN¥8.6M | −CN¥925,000 | −CN¥9.6M | −CN¥2.4M | CN¥9.4M | CN¥8.3M | CN¥7.6M |
| Net income | −CN¥198.2M | −CN¥289.7M | −CN¥43.6M | −CN¥60.7M | −CN¥46.4M | −CN¥32.9M | CN¥53.5M | CN¥64.6M | CN¥37.8M |
| EBITDA | −CN¥257.4M | CN¥22.4M | −CN¥52.8M | −CN¥62.6M | −CN¥54.9M | −CN¥39.3M | CN¥64.2M | CN¥73.7M | CN¥51.5M |
| Gross margin | 25.7% | 39.6% | 82.3% | 70.8% | 77.0% | 75.5% | 84.7% | 82.6% | 65.7% |
| Operating margin | −27.6% | −38.9% | −51.4% | −39.3% | −38.3% | −41.3% | 27.6% | 37.9% | 30.3% |
| Net margin | −24.2% | −24.4% | −38.1% | −32.1% | −24.3% | −25.4% | 26.3% | 39.0% | 24.3% |
| Dec '25 | Dec '24 | Sep '24 | Dec '23 | |
|---|---|---|---|---|
| Revenue | CN¥3.1M | CN¥0 | CN¥1.17B | CN¥35.9M |
| Cost of revenue | CN¥19.0M | CN¥108.8M | CN¥708.6M | CN¥8.4M |
| Gross profit | −CN¥15.9M | −CN¥108.8M | CN¥465.8M | CN¥27.5M |
| Total operating expenses | CN¥3.8M | −CN¥107.3M | CN¥524.2M | CN¥55.1M |
| Operating income | −CN¥19.8M | −CN¥1.4M | −CN¥58.4M | −CN¥27.7M |
| Interest expense | CN¥45,150 | — | — | — |
| Income before taxes | −CN¥20.9M | −CN¥1.3M | −CN¥473.6M | −CN¥25.5M |
| Income taxes | −CN¥1.1M | — | CN¥5.0M | CN¥8.0M |
| Net income | −CN¥1.82B | CN¥226.9M | −CN¥478.6M | −CN¥33.6M |
| EBITDA | −CN¥12.6M | CN¥53.1M | −CN¥473.6M | −CN¥25.5M |
| Gross margin | −517.5% | — | 39.7% | 76.5% |
| Operating margin | −641.5% | — | −5.0% | −77.1% |
| Net margin | −58,932.2% | — | −40.8% | −93.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in MAAS's financial statements (latest annual report filed October 29, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MAAS financial results
In fiscal year 2025 (ended June 30, 2025), Maase reported revenue of CN¥817.9 million, down 31.0% from the year before. It had a net loss of CN¥198.2 million, a net profit margin of −24.2%. Over five years revenue grew at an average rate of 44.6% a year. Figures are in Chinese yuan, the currency of its financial statements.
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MAAS income statement FAQ
What is Maase's annual revenue?
Maase reported total revenue of CN¥817.9 million for fiscal year 2025, which ended on June 30, 2025. That was down 31.0% from CN¥1.2 billion the previous year.
Is Maase profitable?
No. Maase reported a net loss of CN¥198.2 million in fiscal 2025, a net profit margin of −24.2%; its operating margin was −27.6%.
What is Maase's gross margin?
Maase's gross margin was 25.7% in fiscal 2025: for every $100 of revenue, Maase kept $26 after the direct cost of its products and services.
How fast is Maase growing?
Revenue grew 44.6% a year on average over the last five fiscal years, from CN¥129.5 million to CN¥817.9 million.
When will Maase report its next earnings?
Maase is expected to report results for the quarter ending September 30, 2026 on November 4, 2026.
When does Maase's fiscal year end?
Maase's fiscal year ends in June. The latest annual report covers the year ended June 30, 2025 and was filed on October 29, 2025.