LGCL 0001493152-25-020425 6-K Filing: Oct 31, 2025

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

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

For the month of October 2025

Commission File Number: 001-41658

Lucas GC Limited

(Exact name of registrant as specified in its charter)

Room 5A01, 4^th^ Floor

Air China Building, Xiaoyun Road

Sanyuanqiao, Chaoyang District

Beijing 100027, China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form<br>20-F ☒		Form<br>40-F ☐

Explanatory Note

This report on Form 6-K and the attached Exhibit 99.1 are incorporated by reference into the Company’s registration statement on Form F-3 (File No. 333-286651) and registration statement on Form S-8 (File No. 333-283728), as amended, and into each prospectus outstanding under the foregoing registration statements, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

Exhibits Index

Exhibit<br>No.		Description
99.1		Press Release - Lucas GC Limited Announces 1H 2025 Financial Results: Revenue at US$54.01 million with Increases in Gross Margin

SIGNATURES

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.

Date: October 31, 2025

	Lucas<br>GC Limited

	By:	/s/<br>Howard Lee
	Name:	Howard<br>Lee
	Title:	Chief<br>Executive Officer and Chairman of the Board of Directors

Exhibit 99.1

Lucas GC Limited Announces 1H 2025 Financial Results:

Revenue at US$54.01 million with Increases in Gross Margin

NEW YORK, OCTOBER 31, 2025 (GLOBE NEWSWIRE) — Lucas GC Limited (NASDAQ: LGCL) (“Lucas” or the “Company”), an artificial intelligence (the “AI”) technology-driven Platform-as-a-Service (the “PaaS”) company whose technologies have been applied to the human resources and insurance industry verticals, today announced its financial results for 1H fiscal year of 2025.

1H 2025 Financial Highlights

	●	Our<br>revenue was RMB386.89 million (US$54.01 million) for the six months ended June 30, 2025, compared with RMB605.52 million for the<br>six months ended June 30, 2024, representing a decrease of 36.11%.
	●	We<br>recorded a gross margin of 33.74% for the six months ended June 30, 2025, representing an increase of 200 bps compared with that<br>of the six months ended June 30, 2024.
	●	We<br>recorded net income of RMB21.49 million (US$3.0 million) for the six months ended June 30, 2025, compared with RMB53.93 million for<br>the six months ended June 30, 2024.
	●	Our<br>net income margin decreased to 5.56% for the six months ended June 30, 2025, compared with 8.91% for the six months ended June 30,<br>2024.

Management Commentary

Howard Lee, Chief Executive Officer of Lucas, said “We continue to position ourselves as a technology company rather than a service company, resulting in improvement of our gross margin in 1H 2025 compared to 1H 2024. The revenue decrease was due to slowdown of the overall Chinese economy, our change of strategy to focus on higher-margin products and our management focus on initiating operations outside China.”

“In order to sustain our technological leads as a technology company, we have continued to invest significantly in research and development. R&D expenses as a percentage of revenue was 11.86% which is still well above industry average. We obtained one additional patent related to core Artificial Intelligence (AI) technology, bringing the total number of granted patents to 20.”

About Lucas GC Limited

With 20 granted U.S. and Chinese patents and over 75 registered software copyrights in the AI, data analytics and blockchain technologies, Lucas GC Limited is an AI technology-driven Platform as a Service (PaaS) company. Lucas’ technologies have been applied to the human resources and insurance industry verticals. For more information, please visit: https://www.lucasgc.com/.

Forward-Looking Statements

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the uncertainties related to market conditions. Any forward-looking statements contained in this press release speak only as of the date hereof, and Lucas GC Limited specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For Investor Inquiries and Media Contact:

https://www.lucasgc.com/

[email protected]

T: 818-741-0923

LUCAS GC LIMITED

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All amounts in thousands, except for share and per share data, or otherwise noted)

As of<br>December 31, 2024			As of June 30, 2025
RMB			RMB
			(Unaudited)
ASSETS
Current assets
Cash and cash equivalents	30,380			30,082		4,199
Restricted cash	1,281			-		-
Short-term investments	2,803			1,425		199
Accounts receivable, net	61,059			47,226		6,592
Advance to suppliers, net	163,647			162,409		22,671
Deferred offering costs	2,302			104		15
Prepaid expenses and other current assets	1,955			6,933		966
Total current assets	263,427			248,179		34,642
Non-current assets
Long-term investments	-			21,491		3,000
Software and equipment, net	84,465			108,268		15,114
Development expenditures	32,515			51,714		7,219
Operating lease right-of-use assets, net	575			369		52
Deferred tax assets, net	22,270			28,882		4,032
Total non-current assets	139,825			210,724		29,417

TOTAL ASSETS	403,252			458,903		64,059
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term borrowings	67,470			90,800		12,675
Accounts payable	46,800			28,126		3,926
Contract liabilities	15,906			7,843		1,095
Income tax payable	71			71		10
Amounts due to related parties	3,700			1,400		195
Operating lease liabilities, current	458			303		42
Accrued expenses and other current liabilities	3,170			3,655		510
Total current liabilities	137,575			132,198		18,453
Operating lease liabilities, non-current	99			-		-
Total non-current liability	99			-		-
TOTAL LIABILITIES	137,674			132,198		18,453
Shareholders’ equity
Ordinary shares (0.0002 par value; 250,000,000 and 250,000,000 shares authorized as of December 31, 2024 and June 30, 2025; 1,986,677 and 2,790,427 shares issued and outstanding as of December 31, 2024 and June 30, 2025, respectively)	3			3		-
Subscription receivables	(3	)		(3	)	-
Treasury Stock	(856	)		(856	)	(119	)
Additional paid-in capital	142,828			182,968		25,541
Statutory reserve	23,271			23,271		3,249
Retained earnings	97,118			118,452		16,535
Accumulated other comprehensive income (loss)	472			(34	)	(5	)
Total Lucas GC Limited shareholders’ equity	262,833			323,801		45,201
Non-controlling interests	2,745			2,904		405
Total shareholders’ equity	265,578			326,705		45,606
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	403,252			458,903		64,059

All values are in US Dollars.

LUCAS GC LIMITED

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(All amounts in thousands, except for share and per share data, or otherwise noted)

	For the six months ended June 30,
	2024			2025
	RMB			RMB
	(Unaudited)			(Unaudited)
Revenues
Recruitment service		155,812			31,806		4,440
Outsourcing service		418,456			334,471		46,690
Others		31,250			20,613		2,878
Total revenues		605,518			386,890		54,008
Cost of revenues		(402,438	)		(256,355	)	(35,786	)
Gross profit		203,080			130,535		18,222
Operating expenses
Selling and marketing expenses		(39,000	)		(30,562	)	(4,266	)
General and administrative expenses		(30,299	)		(38,798	)	(5,416	)
Research and development expenses		(80,612	)		(45,881	)	(6,405	)
Total operating expenses		(149,911	)		(115,241	)	(16,087	)

Income from operations		53,169			15,294		2,135
Other expenses
Financial expenses, net		(754	)		(325	)	(45	)
Other income (expenses), net		718			(89	)	(12	)
Total other expenses, net		(36	)		(414	)	(57	)
Income before income tax benefit		53,133			14,880		2,078
Income tax benefit		794			6,613		923
Net income		53,927			21,493		3,001
Less: net income attributable to non-controlling interests		(398	)		(159	)	(22	)
Net income attributable to Lucas GC Limited		53,529			21,334		2,979
Net income		53,927			21,493		3,001
Other comprehensive income:
Foreign currency translation difference, net of tax of nil		438			(506	)	(71	)
Total comprehensive income		54,365			20,987		2,930
Less: total comprehensive income attributable to non-controlling interests		(398	)		(159	)	(22	)
Comprehensive income attributable to Lucas GC Limited		53,967			20,828		2,908
Net income per share:
Basic		27.09			10.55		1.47
Diluted		27.09			10.55		1.47
Weighted average shares outstanding used in calculating basic and diluted loss per share:
Basic		1,976,166			2,022,399		2,022,399
Diluted		1,976,166			2,022,399		2,022,399

All values are in US Dollars.

LGCL 6-K