olivLaw · US equity research
High Templar Tech Limited HTT
Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)
High Templar Tech Limited, formerly Qudian, has effectively ended its consumer credit business in China and is looking for new business lines. Total revenues fell to RMB 41.0 million (US$ 5.9 million) in 2025, while net income reached RMB 708.6 million (US$ 101.3 million), a figure that does not reflect sustained operating activity.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 02 Nov 2026, High Templar Tech Limited (HTT) stock was 1.81 USD (+0.56% on the day), with market capitalisation 589.8 m USD, P/E 0.2 on diluted EPS of 7.74 USD over the last 12 months, beta 1.18, 52-week range 1.80–4.95 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 17.6
- oversold (≤ 30)
- Bollinger (20, 2)
- 1.74 – 2.37
- in the lower half of the band · %B 0.11 · band width 30.6%
- SMA 50 / 200
- 2.32 / 2.56
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.15 / -0.13
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −21.6% | −2.3% | −19.3 pp | — |
| 3 months | −28.2% | −0.8% | −27.4 pp | — |
| 6 months | −24.9% | +4.7% | −29.6 pp | — |
| Year to date | −49.0% | +10.2% | −59.2 pp | — |
| 1 year | −62.1% | +10.3% | −72.4 pp | −41.5% |
| 3 years | +2.8% | +73.0% | −70.2 pp | −44.3% |
| 5 years | +2.3% | +61.8% | −59.6 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 1-quarter history (min 0.6, median 0.6, max 0.6; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.3 bn | 565.2 m | 259.6 m | 83.7 m | 17.8 m | 29.7 m | 5.9 m |
| Revenue YoY | +52.4% | +13.5% | −55.5% | −54.1% | −67.7% | −78.7% | +66.6% | −80.2% |
| Net income | 362.3 m | 468.9 m | 146.9 m | 92.4 m | -52.5 m | 5.5 m | 12.6 m | 101.3 m |
| Net income YoY | +8.9% | +29.4% | −68.7% | −37.1% | −156.8% | unavailable | +128.0% | +706.3% |
| Diluted EPS | 7.74 | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | 32.4% | 36.9% | 26.0% | 35.6% | -62.7% | 31.0% | 42.4% | 1,729.9% |
| Free cash flow | 464.2 m | 779.5 m | 344.8 m | 69.6 m | -1.8 m | -30.0 m | -58.8 m | 81.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 791.1 m USD
- Financial debt
- 225.4 m USD
- Net debt
- -565.8 m USD
- Equity
- 1.7 bn USD
- Total assets
- 1.9 bn USD
- Debt / equity
- 0.14x
- Current ratio
- 5.75x
- ROE
- 6.3%
- ROA
- 5.5%
- FCF margin
- 1,392.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 565.2 m | 259.6 m | 83.7 m | 17.8 m | 29.7 m | 5.9 m | SEC (XBRL)· 10 Apr 2026verified |
| Cost of revenue | 132.2 m | 46.9 m | 55.5 m | 22.6 m | 27.5 m | 5.4 m | SEC (XBRL)· 10 Apr 2026verified |
| Gross profit | 433.0 m ≈ | 212.7 m ≈ | 28.2 m ≈ | -4.8 m ≈ | 2.1 m ≈ | 417.4 k ≈ | SEC (XBRL)· 10 Apr 2026derived |
| Research & development | 26.2 m | 22.2 m | 8.4 m | 6.7 m | 8.0 m | 6.5 m | SEC (XBRL)· 10 Apr 2026verified |
| Operating income | 132.7 m | 144.8 m | -47.8 m | -46.6 m | -42.2 m | -57.0 m | SEC (XBRL)· 10 Apr 2026verified |
| Depreciation & amortisation | 1.6 m | 3.4 m | 1.2 m | 2.0 m | 3.1 m | 7.2 m | SEC (XBRL)· 10 Apr 2026verified |
| EBITDA | 134.3 m ≈ | 148.2 m ≈ | -46.6 m ≈ | -44.7 m ≈ | -39.1 m ≈ | -49.7 m ≈ | SEC (XBRL)· 10 Apr 2026derived |
| Pre-tax income | 187.1 m | 132.8 m | -39.1 m | 14.3 m | 21.6 m | 105.7 m | SEC (XBRL)· 10 Apr 2026verified |
| Income tax | 40.2 m | 40.9 m | 13.4 m | 8.8 m | 9.0 m | 4.4 m | SEC (XBRL)· 10 Apr 2026verified |
| Net income | 146.9 m | 92.4 m | -52.5 m | 5.5 m | 12.6 m | 101.3 m | SEC (XBRL)· 10 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 235.6 m | 324.1 m | 505.5 m | 1.0 bn | 584.1 m | 791.1 m | SEC (XBRL)· 10 Apr 2026verified |
| Receivables | 17.0 m | 32.1 m | 0 | 3.6 m | 4.7 m | 765.2 k | SEC (XBRL)· 10 Apr 2026verified |
| Inventories | 14.1 m | 2.4 m | 16.9 m | 1.5 m | — | 8.0 m | SEC (XBRL)· 10 Apr 2026verified |
| Current assets | 1.8 bn | 1.9 bn | 1.6 bn | 1.4 bn | 1.4 bn | 1.6 bn | SEC (XBRL)· 10 Apr 2026verified |
| Property, plant & equipment, net | 46.4 m | 103.4 m | 112.2 m | 184.3 m | 217.3 m | 239.9 m | SEC (XBRL)· 10 Apr 2026verified |
| Intangibles (excl. goodwill) | 1.3 m | 1.7 m | 1.4 m | 435.6 k | 302.4 k | 226.8 k | SEC (XBRL)· 10 Apr 2026verified |
| Total assets | 2.1 bn | 2.2 bn | 1.8 bn | 1.8 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 10 Apr 2026verified |
| Short-term debt | — | — | — | — | 98.6 m | 225.4 m | SEC (XBRL)· 10 Apr 2026verified |
| Current liabilities | 72.4 m | 77.4 m | 84.8 m | 106.3 m | 154.0 m | 283.2 m | SEC (XBRL)· 10 Apr 2026verified |
| Total liabilities | 228.1 m | 246.0 m | 102.0 m | 111.9 m | 160.7 m | 283.3 m | SEC (XBRL)· 10 Apr 2026verified |
| Equity | 1.8 bn | 2.0 bn | 1.7 bn | 1.6 bn | 1.5 bn | 1.7 bn † | SEC (XBRL)· 10 Apr 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 378.8 m | 144.7 m | 37.8 m | 49.6 m | -15.2 m | 98.2 m | SEC (XBRL)· 10 Apr 2026verified |
| Capex | 34.0 m | 75.1 m | 39.7 m | 79.6 m | 43.6 m | 16.7 m | SEC (XBRL)· 10 Apr 2026verified |
| Free cash flow | 344.8 m ≈ | 69.6 m ≈ | -1.8 m ≈ | -30.0 m ≈ | -58.8 m ≈ | 81.6 m ≈ | SEC (XBRL)· 10 Apr 2026derived |
| Investing cash flow | -501.1 m | -38.7 m | 273.3 m | 548.7 m | -321.2 m | 120.9 m | SEC (XBRL)· 10 Apr 2026verified |
| Financing cash flow | -243.9 m | -13.2 m | -121.1 m | -79.7 m | 25.6 m | 79.4 m | SEC (XBRL)· 10 Apr 2026verified |
| Share repurchases | 2.4 m | — | 21.1 m | 59.2 m | 73.0 m | 43.0 m | SEC (XBRL)· 10 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 80 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
02 Nov 2026Source: olivLaw, closing series
Market cap: 589.8 m USD
Key indicators
Coverage and freshness
Score by group
- Quality84
- Growth0
- Valuation100
- Balance sheet100
- Returns100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 6.73 – 11.49 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · the base of the ratio is not positive
- Peers: P/E6.73 – 11.49 (Mid 8.21)8 companies used · median multiple 26.4x · quartiles 21.7x – 37.0xAXP, CRCL, DAVE, JFU, NU, RHLD, SOFI, UPST
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 80/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -5.1% | 82 (vs peers) | 17% |
| Net margin · Quality | 1,729.9% | 100 (vs peers) | 10% |
| FCF conversion · Quality | 80.5% | 72 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | -58.8% | 0 (on a fixed band) | 14% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 5.8x | 100 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 5.8x | 100 (vs peers) | 17% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 13.8% | 100 (on a fixed band) | 14% |
| Shareholder yield (distributions) · Returns | 7.3% | 100 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality84/100 · 3/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation100/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
High Templar Tech Ltd (HTT). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 5.9 m USD in 2025; YoY growth -80.2%; net margin 1,729.9%; ROE 6.3%.
The estimated value range is 6.73–11.49 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 8.21 USD, the price of 1.81 USD leaves a potential of 353.6% (value / price − 1) and a margin of safety of 78.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 80/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: -5.1%
- Net margin: 1,729.9%
- FCF conversion: 80.5%
- Current ratio: 5.8x
- P/E (TTM): 5.8x
- FCF yield: 13.8%
- Shareholder yield (distributions): 7.3%
- The price is below the estimated value range
What contradicts it
- Revenue CAGR 3Y: -58.8%
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXPAmerican Express Co | 219.9 bn | 18.4 | 35.9% | 27.9% | +6.4% | −10% / +92% |
| COINCoinbase Global, Inc. | 36.5 bn | — | -4.7% | -12.5% | +9.4% | −49% / +11% |
| SOFISoFi Technologies, Inc. | 21.4 bn | 34.7 | 7.1% | 104.3% | +23.1% | −44% / +128% |
| RIOTRiot Platforms, Inc. | 4.4 bn | — | -48.2% | -196.3% | +71.9% | −27% / −6% |
| CORZCore Scientific, Inc. | 4.0 bn | — | — | -324.9% | −37.5% | −26% / unavailable |
| CIFRCipher Digital Inc. | 3.1 bn | — | -156.8% | -742.3% | +48.0% | −66% / +148% |
| MARAMara Holdings, Inc. | 2.5 bn | — | -107.2% | -430.2% | +38.2% | −46% / −46% |
| UPSTUpstart Holdings, Inc. | 2.1 bn | 43.8 | 7.9% | 4.8% | +64.0% | −53% / −20% |
| SBETSharplink, Inc. | 1.4 bn | — | -183.6% | -3,406.3% | +666.1% | −39% / −61% |
| KEELKeel Infrastructure Corp. | 1.2 bn | — | -87.6% | -230.6% | +72.0% | −46% / +32% |
| RHLDResolute Holdings Management, Inc. | 930.1 m | 21.9 | — | 4.2% | +9.9% | −33% / unavailable |
| HTTHigh Templar Tech Ltd | 589.8 m | 5.8 | 6.3% | 1,729.9% | −80.2% | −62% / +3% |
| JFU9F Inc. | 555.2 m | 24.0 | 4.7% | 125.2% | +12.2% | −51% / −41% |
| ABTCAmerican Bitcoin Corp. | 509.2 m | — | -38.5% | -71.7% | +158.8% | −90% / −99% |
| HIVEHive Digital Technologies Ltd. | 469.0 m | — | -66.4% | -98.5% | +158.3% | −49% / −44% |
| SAIHSAIHEAT Limited | 364.1 m | — | -59.3% | -142.7% | −18.4% | +244% / +83% |
| CHADDefi Development Corp. | 309.7 m | — | -589.3% | -1,319.5% | +442.3% | unavailable / unavailable |
| BTBTBit Digital, Inc. | 265.4 m | — | -56.7% | -237.2% | +5.1% | −69% / −71% |
| DGXXDigi Power X Inc. | 215.5 m | — | -24.7% | -114.8% | −7.6% | −48% / +49% |
| ZSQRZ Squared Inc. | 195.6 m | — | -25.9% | -642.0% | unavailable | −80% / −84% |
| CNTNCanton Strategic Holdings, Inc. | 162.5 m | — | -43.1% | — | unavailable | −22% / −84% |
| TONXTon Strategy Company | 160.3 m | — | -75.5% | -532.8% | +1,327.8% | −15% / −93% |
| SLNHSoluna Holdings, Inc. | 142.7 m | — | -114.6% | -185.9% | −21.8% | −66% / −81% |
| NAKANakamoto Inc. | 99.1 m | — | -342.8% | -1,507.8% | −33.0% | −72% / unavailable |
| AGPUAxe Compute Inc | 88.2 m | — | -1,565.2% | -7,769.8% | +47.7% | +27% / −84% |
1- and 3-year price returns: for HTT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 0.97 Total return -47% · Per year -47% | 1.72 Total return -5% · Per year -5% | 2.60 Total return 44% · Per year 44% |
| 3 years | 0.77 Total return -58% · Per year -25% | 1.55 Total return -14% · Per year -5% | 2.60 Total return 44% · Per year 13% |
| 5 years | 0.61 Total return -66% · Per year -20% | 1.40 Total return -23% · Per year -5% | 2.60 Total return 44% · Per year 8% |
- Exit P/E± 0.39
- Net margin± 0.27
- Annual revenue growth± 0.25
- Annual dilution± 0.02
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 10 Apr 2026; since then the company filed 6-K (14 Oct 2026), 6-K (26 May 2026).
In brief
High Templar Tech Limited, formerly Qudian, has effectively ended its consumer credit business in China and is looking for new business lines. Total revenues fell to RMB 41.0 million (US$ 5.9 million) in 2025 1, while net income reached RMB 708.6 million (US$ 101.3 million) 1, a figure that does not reflect sustained operating activity.
SWOT
Strengths
- The balance sheet carries no outstanding loan book balance since 2022, which reduces exposure to credit risk 1.
- The intellectual property portfolio, including registered trademarks and domain names, could support future businesses 1.
- Experience across several consumer and logistics segments provides a base for development 1.
Weaknesses
- Operating revenues have fallen sharply, and the net income reported for 2025 appears to come from non-operating items rather than current activity 1.
- Several business lines have been closed or are being wound down, implying lost scale and exit costs 1.
- New activities such as aircraft leasing are at an early stage and have not reached meaningful scale 1.
Opportunities
Threats
- The contractual VIE structure could be challenged by Chinese authorities, leading to penalties or loss of control over operations 1.
- Data privacy and security rules are changing quickly and could result in fines 1.
- If the PCAOB were unable to inspect the company's auditor, the ADSs could be barred from trading in the United States 1.
Risks
- Winding down of new businesseshigh
New activities such as delivery and other lines may not deliver the expected benefits, and the company could be left without a viable business model 1.
- VIE structurehigh
Control over operations in China rests on contractual arrangements, which may be less effective than direct ownership and could be challenged by authorities 1.
- Regulation in Chinahigh
Policy changes and uncertain interpretation of Chinese law could materially affect the company's operations and results 1.
- Data privacy compliancemedium
Privacy requirements in Australia and other jurisdictions could lead to fines and liability if the company fails to comply 1.
- International exposuremedium
International operations are exposed to political, economic and currency risks, and the cost of entering new markets can be high 1.
Investment thesis
What would need to be true (bull case)
- If new businesses, especially aircraft leasing, reach meaningful scale, they could offset the decline in consumer credit and generate recurring revenue 1.
- The absence of an outstanding loan book since 2022 could reduce balance sheet risk and allow more focus on new directions 1.
- The trademark and intellectual property portfolio could support new products or services at lower cost 1.
What would break the thesis
- Operating revenues have declined visibly, and the high net income in 2025 may not reflect the earning power of current activity 1.
- The closure of several business lines shows earlier diversification attempts did not succeed, which may raise doubts about new initiatives 1.
- The VIE structure and uncertain Chinese regulation could lead to penalties or loss of control over assets in China 1.
What to watch
- Revenue development in aircraft leasingnext 10-K
- Completion of the wind-down of last-mile delivery2026
- Reported results for the first quarterQ1 2027
- Changes to the VIE structure and Chinese regulation2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 10 Apr 2026; since then the company filed 6-K (14 Oct 2026), 6-K (26 May 2026).
The business
The company was founded in 2014 and initially offered credit to college students on campuses in China, then to a broader base of young consumers 1. It ceased new credit offerings in China in September 2022 and had no outstanding loan balance from its historical loan book business after the end of 2022 1. The group now operates mainly through Xiamen Qudian and its subsidiaries and is exploring new businesses, including aircraft leasing, while its last-mile delivery business is being wound down 1.
The legal structure relies on variable interest entities (VIEs) in China controlled through contractual arrangements; in January 2026 Xiamen Lexiang ceased to be a VIE and became a subsidiary 1. In December 2025 the company changed its name to High Templar Tech Limited and its ticker to HTT 1. Its principal executive offices are in Xiamen, Fujian Province 1.
The group also operated and then closed other businesses, including Wanlimu Kids Clubs, QD Food and the Wanlimu e-commerce platform, all wound down by 2024 1. It retains intellectual property, including trademarks and domain names, as a base for possible new businesses 1.
Segments
Market context
The market in which the company operated, consumer credit and financial services for young people in China, has become more restrictive, and the company itself stopped new credit in 2022 1. Markets for the newer segments, such as aircraft leasing and international delivery, are described by the company as early-stage, with limited experience and strong local competition 1.
Demand for the company's services depends on overall economic conditions in the jurisdictions where it operates, including interest rates, unemployment and consumer spending 1. The regulatory environments in China and Australia continue to evolve, creating both challenges and opportunities 1.
Trends
- Exit from consumer creditheadwind
The company no longer offers new credit in China and has had no outstanding loan balance since 2022, which removes credit risk but also its traditional revenue source 1.
- Diversification into new businessesmixed
The group is exploring new opportunities, including overseas, but as the company warns, new businesses are not assured of success and may require significant investment 1.
- Data privacy and telecom regulationheadwind
Rising privacy requirements in Australia and the rules for value-added telecommunications services in China could increase compliance costs 1.
- Wider opening to foreign investorsmixed
Pilot programmes launched in 2024 to open value-added telecommunications services in China could ease restrictions on some of the company's activities 1.
Competitive position
The company describes competition as intensifying as its businesses grow, with local companies holding substantial advantages from their deeper knowledge of local markets and established brands 1. Local competitors are also an important factor in international delivery and aircraft leasing 1.
The company does not identify US-listed competitors or name specific rivals in its filing, which limits comparative analysis based on the available sources 1.
- Local companies in China and Australia
Local companies have market advantages, customer knowledge and brand strength, according to the company's description, with no names given in the filing 1.
- Local delivery and logistics operators
In Australian delivery, local competition may be intense, and the company is now winding down its own activity 1.
- Local aircraft leasing operators
The company holds a small position in leasing and does not identify specific competitors in the document 1.
- Consumer credit platforms in China
The company no longer actively competes in consumer credit in China, and the document does not name other players in this segment 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)14 Oct 2026
- Current report (foreign issuer)26 May 2026
- Annual report (foreign issuer)10 Apr 2026
- Current report (foreign issuer)11 Mar 2026
- Current report (foreign issuer)11 Dec 2025
- Current report (foreign issuer)24 Nov 2025
- Current report (foreign issuer)12 Nov 2025
- Current report (foreign issuer)24 Sept 2025
- Current report (foreign issuer)13 Aug 2025
- Current report (foreign issuer)30 May 2025
Sources
- [1] Form 20-F, fiscal year ended 2025-12-31 · SEC / High Templar Tech Limited · 10 Apr 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.