GSUNNasdaqServices-Educational ServicesUS GAAP · USD

Golden Sun Technology Group Ltd.

Golden Sun Technology Group Ltd. is a Cayman Islands holding company whose operating businesses are conducted through subsidiaries in the People’s Republic of China. Its core activities are education services, including foreign language tutorial and training services, alongside e-commerce services and related engineering construction and logistics activities.

Kysy yhtiöstä
Liikevaihto35,5milj. USD
−99,7 %v/v
Liikevoitto (EBIT)−2,1milj. USD
+99,9 %v/v
EBIT-marginaali−5,9%
+19,3 %-yks.v/v
Nettotulos−5,1milj. USD
+99,9 %v/v
Vapaa kassavirta−9,3milj. USD
+99,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−5051015mrd USD2020: 0,01 mrd USD2020: EBIT 0,00 mrd USD20202021: 0,02 mrd USD2021: EBIT 0,00 mrd USD20212022: 0,01 mrd USD2022: EBIT −0,00 mrd USD20222023: 0,01 mrd USD2023: EBIT −0,00 mrd USD20232024: 10,2 mrd USD2024: EBIT −2,6 mrd USD20242025: 0,04 mrd USD2025: EBIT −0,00 mrd USD20250,04−0,00
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Golden Sun Technology Group Ltd.

Liiketoiminta

Osuus liikevaihdosta
Education services45 %

Foreign language tutorial and training services delivered through PRC subsidiaries.

E-commerce product sales30 %

Merchandise sold to third-party online marketplaces on a principal basis.

E-commerce marketing and commission services15 %

Marketing support and commission-based services tied to online commerce activity.

Engineering construction5 %

Construction-related services recognized over time as work is performed.

Logistics services5 %

Service activities supporting the movement and fulfillment of goods in China.

Tuotteet

Raportoitu · osuus liikevaihdosta
95,5%FY2025100 %
  • E Commerce Revenue95,5 %
  • Tutorial Service Logistic Consulting Services and Others4,5 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company serves education customers seeking foreign language tutorial and training services, with demand centered on learning and skills development in the PRC. Its e-commerce business sells to third-party online marketplaces and related commercial counterparties, while its commission, marketing, logistics, and construction services serve business customers involved in online commerce and project activity. The customer mix therefore spans consumer-facing education users and B2B/B2B2C commerce participants.

Education learners

Individuals and institutions purchasing foreign language tutorial and training services in China.

Online marketplaces

Third-party online marketplace customers that buy merchandise or transact with the company’s e-commerce operations.

E-commerce merchants

Businesses that use marketing, commission, and fulfillment-related services to support online sales.

Construction customers

Clients purchasing engineering construction services recognized over the service period.

Strategia

The company has expanded beyond education services into e-commerce, adding product sales, marketing, and commission-based activities to broaden its business base. This diversification is intended to build a wider commercial platform around online commerce while retaining its education-service roots. The mix of principal and agent revenue models also suggests a strategy of combining inventory-led sales with lighter-asset service streams.

Expand e-commerce operationsKeskipitkä aikaväli

Diversifies revenue beyond education services and increases exposure to online commerce demand.

Retain education-service baseLyhyt aikaväli

Foreign language tutorial and training services remain a core operating line and support continuity.

Manage mixed revenue recognitionLyhyt aikaväli

The company operates both gross and net revenue models, which affects scalability and reported revenue mix.

Maantiede

Golden Sun is a U.S.-listed Cayman Islands holding company, but its operating businesses and long-lived assets are in the PRC. The company states that it does not present geographic disaggregation because its long-lived assets are all located in China, which makes PRC operations the key exposure for revenue generation and asset concentration. This geographic structure ties the business to Chinese regulatory, consumer, and operating conditions.

Riskit

The company is exposed to execution risk as it expands from education into e-commerce and related service lines, where customer acquisition, fulfillment, and working-capital needs differ materially. Its business is also concentrated in the PRC, so regulatory changes, consumer demand shifts, and operating disruptions in China can affect both revenue and asset values. Accounting judgments around revenue recognition, credit losses, and impairment are material because the business includes multiple service types, inventory-like product sales, and assets concentrated in one jurisdiction.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →China operating concentration1E-commerce execution risk2Revenue recognition complexity3Credit and collection risk4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. China operating concentrationVaikutus: KorkeaTodennäköisyys: Korkea

    The company’s subsidiaries, assets, and revenue-generating activities are centered in the PRC.

    KohdistuuRevenueAssetsOperations
  2. E-commerce execution riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Expansion into e-commerce requires different logistics, merchant relationships, and inventory control than education services.

    Kohdistuu: Product sales and marketing services

  3. Revenue recognition complexityVaikutus: KeskitasoTodennäköisyys: Korkea

    The company uses gross accounting for principal transactions and net accounting for commission revenue.

    Kohdistuu: Reported revenue and margins

  4. Credit and collection riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Management highlights allowance for credit losses on receivables and other assets as a key estimate.

    Kohdistuu: Accounts receivable and other assets

Kysy Clarifolta: Golden Sun Technology Group Ltd.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Tutorial, logistics, marketing, commission, and product sales are recognized using different methods.

Vaikutus: Affects revenue timing, comparability, and margin presentation

Gross versus net presentation

The company acts as principal for most revenue but as agent for commission revenue.

Vaikutus: Changes reported revenue and cost of sales

Refund liabilities

Management cites accruals for refund liabilities as a critical estimate.

Vaikutus: Can reduce recognized revenue and increase liabilities

Impairment judgments

Goodwill, long-lived assets, and long-term investments are subject to impairment testing.

Vaikutus: Can create non-cash charges and volatility

Credit-loss allowances

Accounts receivable and other assets require expected-loss estimation.

Vaikutus: Affects bad-debt expense and net asset values

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

New Oriental Education & Technology Group Inc.

EDU · Services-Educational Services

Golden Heaven Group Holdings Ltd

GDHG · Services-Miscellaneous Amusement & Recreation

Four Seasons Education (Cayman) Inc.

FEDU · Services-Educational Services

Zhongchao Inc.

ZCMD · Services-Educational Services

Lion Group Holding Ltd

LGHL · Security Brokers, Dealers & Flotation Companies

Sentage Holdings Inc.

SNTG · Finance Services

Päivitetty: 28.9.2026

Golden Sun Technology Group Ltd. (Nasdaq) – Services-Educational Services | Analyysi – Clarifo