6-K
Lucas GC Ltd (LGCL)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM6-K
REPORTOF FOREIGN PRIVATE ISSUERPURSUANT TO RULE 13a-16 OR 15d-16UNDER THE SECURITIES EXCHANGE ACT OF 1934
Forthe month of October 2025
CommissionFile Number: 001-41658
LucasGC Limited
(Exactname of registrant as specified in its charter)
Room5A01, 4^th^ Floor
AirChina Building, Xiaoyun Road
Sanyuanqiao,Chaoyang District
Beijing100027, 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 ☐ |
|---|
ExplanatoryNote
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as amended, and into each prospectus outstanding under the foregoing registration statements, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as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.
ExhibitsIndex
| Exhibit 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 GC Limited | |
|---|---|
| By: | /s/ Howard Lee |
| Name: | Howard<br> Lee |
| Title: | Chief<br> Executive Officer and Chairman of the Board of Directors |
Exhibit99.1
LucasGC Limited Announces 1H 2025 Financial Results:
Revenueat 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.
1H2025 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. |
ManagementCommentary
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.”
AboutLucas 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-LookingStatements
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/
ir@lucasgc.com
T: 818-741-0923
LUCASGC LIMITED
UNAUDITEDCONDENSED CONSOLIDATED BALANCE SHEETS
(Allamounts in thousands, except for share and per share data, or otherwise noted)
| As of June 30, 2025 | |||||||
|---|---|---|---|---|---|---|---|
| RMB | US | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Current assets | |||||||
| Cash and cash equivalents | 30,380 | 30,082 | |||||
| Restricted cash | 1,281 | - | |||||
| Short-term investments | 2,803 | 1,425 | |||||
| Accounts receivable, net | 61,059 | 47,226 | |||||
| Advance to suppliers, net | 163,647 | 162,409 | |||||
| Deferred offering costs | 2,302 | 104 | |||||
| Prepaid expenses and other current assets | 1,955 | 6,933 | |||||
| Total current assets | 263,427 | 248,179 | |||||
| Non-current assets | |||||||
| Long-term investments | - | 21,491 | |||||
| Software and equipment, net | 84,465 | 108,268 | |||||
| Development expenditures | 32,515 | 51,714 | |||||
| Operating lease right-of-use assets, net | 575 | 369 | |||||
| Deferred tax assets, net | 22,270 | 28,882 | |||||
| Total non-current assets | 139,825 | 210,724 | |||||
| TOTAL ASSETS | 403,252 | 458,903 | |||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||
| Current liabilities | |||||||
| Short-term borrowings | 67,470 | 90,800 | |||||
| Accounts payable | 46,800 | 28,126 | |||||
| Contract liabilities | 15,906 | 7,843 | |||||
| Income tax payable | 71 | 71 | |||||
| Amounts due to related parties | 3,700 | 1,400 | |||||
| Operating lease liabilities, current | 458 | 303 | |||||
| Accrued expenses and other current liabilities | 3,170 | 3,655 | |||||
| Total current liabilities | 137,575 | 132,198 | |||||
| Operating lease liabilities, non-current | 99 | - | |||||
| Total non-current liability | 99 | - | |||||
| TOTAL LIABILITIES | 137,674 | 132,198 | |||||
| Shareholders’ equity | |||||||
| Ordinary shares (US0.0002 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 | ) | ) | ||
| Additional paid-in capital | 142,828 | 182,968 | |||||
| Statutory reserve | 23,271 | 23,271 | |||||
| Retained earnings | 97,118 | 118,452 | |||||
| Accumulated other comprehensive income (loss) | 472 | (34 | ) | ) | |||
| Total Lucas GC Limited shareholders’ equity | 262,833 | 323,801 | |||||
| Non-controlling interests | 2,745 | 2,904 | |||||
| Total shareholders’ equity | 265,578 | 326,705 | |||||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 403,252 | 458,903 |
All values are in US Dollars.
LUCASGC LIMITED
UNAUDITEDCONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Allamounts in thousands, except for share and per share data, or otherwise noted)
| For the six months ended June 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2024 | 2025 | |||||||
| RMB | RMB | US | ||||||
| (Unaudited) | (Unaudited) | |||||||
| Revenues | ||||||||
| Recruitment service | 155,812 | 31,806 | ||||||
| Outsourcing service | 418,456 | 334,471 | ||||||
| Others | 31,250 | 20,613 | ||||||
| Total revenues | 605,518 | 386,890 | ||||||
| Cost of revenues | (402,438 | ) | (256,355 | ) | ) | |||
| Gross profit | 203,080 | 130,535 | ||||||
| Operating expenses | ||||||||
| Selling and marketing expenses | (39,000 | ) | (30,562 | ) | ) | |||
| General and administrative expenses | (30,299 | ) | (38,798 | ) | ) | |||
| Research and development expenses | (80,612 | ) | (45,881 | ) | ) | |||
| Total operating expenses | (149,911 | ) | (115,241 | ) | ) | |||
| Income from operations | 53,169 | 15,294 | ||||||
| Other expenses | ||||||||
| Financial expenses, net | (754 | ) | (325 | ) | ) | |||
| Other income (expenses), net | 718 | (89 | ) | ) | ||||
| Total other expenses, net | (36 | ) | (414 | ) | ) | |||
| Income before income tax benefit | 53,133 | 14,880 | ||||||
| Income tax benefit | 794 | 6,613 | ||||||
| Net income | 53,927 | 21,493 | ||||||
| Less: net income attributable to non-controlling interests | (398 | ) | (159 | ) | ) | |||
| Net income attributable to Lucas GC Limited | 53,529 | 21,334 | ||||||
| Net income | 53,927 | 21,493 | ||||||
| Other comprehensive income: | ||||||||
| Foreign currency translation difference, net of tax of nil | 438 | (506 | ) | ) | ||||
| Total comprehensive income | 54,365 | 20,987 | ||||||
| Less: total comprehensive income attributable to non-controlling interests | (398 | ) | (159 | ) | ) | |||
| Comprehensive income attributable to Lucas GC Limited | 53,967 | 20,828 | ||||||
| Net income per share: | ||||||||
| Basic | 27.09 | 10.55 | ||||||
| Diluted | 27.09 | 10.55 | ||||||
| Weighted average shares outstanding used in calculating basic and diluted loss per share: | ||||||||
| Basic | 1,976,166 | 2,022,399 | ||||||
| Diluted | 1,976,166 | 2,022,399 |
All values are in US Dollars.