Chaince Digital Holdings Inc. (CD)
🔔 Watch stock
On July 15, 2026, the ticker CD surfaced in our Reddit hype scanner — listed as "Chindata," a data center operator that left the Nasdaq back in December 2023. The company trading under CD today is Chaince Digital Holdings: a capital markets advisory firm with 13 employees, $1.87 million of 2025 revenue — and roughly $686 million of accumulated losses from a decade under three earlier names. We read the first 10-K in the company's history, the quarterly report that followed and the 8-K filings: share placements between $6.14 and $0.774, warrants on 42.8 million shares at one dollar apiece, and an insider who sold first and resigned second. Not investment advice — just a check of whether the label and the contents actually belong together.
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This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
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Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
NeutralGeprüft am 15.07.2026 gegen den ersten Jahresbericht 10-K für 2025 (eingereicht 26.03.2026), den Quartalsbericht 10-Q zum 31.03.2026 (14.05.2026) und den letzten Jahresbericht 20-F für 2024 (30.04.2025; davor Foreign Private Issuer, daher keine älteren 10-Q): In den ausgewerteten SEC-Filings von Chaince Digital (früher Mercurity Fintech) findet sich kein wesentlicher operativer KI-Bezug. Der 10-K für 2025 nennt KI nur exploratorisch — die Firma „may explore new business opportunities“ in KI und verfolgt laut Going-Concern-Maßnahmenplan „selective growth opportunities in blockchain and digital asset solutions and AI-enabled intelligent manufacturing“ (Übersetzung: „kann neue Geschäftsmöglichkeiten in diesen Bereichen erkunden“ bzw. „ausgewählte Wachstumschancen bei Blockchain-/Digital-Asset-Lösungen und KI-gestützter intelligenter Fertigung“) — Absichtserklärungen ohne Umsatz, Produkt oder dokumentierten Einsatz. Die im 20-F für 2024 beschriebenen KI-Fertigungspläne der Mercurity-Ära (Aifinity: Liquid-Cooling-Panels für KI-Infrastruktur; Kaufvertrag über Inspur-KI-Server für 2 Mio. US-Dollar, 1 Mio. angezahlt, per 31.12.2024 nicht geliefert) sind im 10-K für 2025 faktisch beerdigt: Aifinity Base Limited ist in Abmeldung, Yingke Precision wurde 2025 deregistriert, Inspur-Server werden nicht mehr erwähnt. Keine KI-Umsatzquelle, kein belegter operativer KI-Einsatz, kein konkretes KI-Geschäftsrisiko fürs eigene Modell (Erlöse stammen aus klassischer Kapitalmarktberatung über den FINRA-Broker-Dealer Chaince Securities) — nach Kriterienkatalog „neutral“ mit dokumentiertem Negativ-Befund.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-14 · 10-K 2026-03-26 · 20-F 2025-04-30
Rated on July 15, 2026 · How the Rating Is Built
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | – | – | – | – | – | – | – |
| 2025: Q1 | -0.01 | – | 1 | 99.20 | -142.90 | -3 | -2 |
| 2025: Q2 | -0.02 | – | 0 | 121.00 | -381.70 | -1 | -1 |
| 2025: Q3 | -0.02 | – | 0 | -14.50 | -381.70 | -2 | -2 |
| 2025: Q4 | -0.03 | – | 1 | – | -150.60 | -1 | -1 |
| 2026: Q1 | -0.02 | – | 1 | 3.70 | -266.10 | -1 | -1 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
A real, FINRA-licensed capital markets boutique — but in miniature: 13 full-time employees, roughly 15 customers, $1.87 million of 2025 revenue; in the first quarter of 2026, a single customer accounted for 56.6 percent of revenue. Project-driven business without a predictable revenue base (10-K/10-Q).
Revenue up 277 percent in 2025, Q1 2026 at $507,546 (prior year: $25,065) with positive gross profit — but continued net losses (2025: −$5.1 million; Q1 2026: −$1.35 million) amounting to several times revenue; the mining legacy is being wound down as a discontinued operation.
$36.7 million of cash (March 31, 2026) and $44.0 million of equity (December 31, 2025) against modest liabilities; the initially raised going-concern doubt ("substantial doubt") is declared alleviated in the 10-K. The blemish: the cash came from share placements, not from the business.
Share count up from 62.3 to 79.4 million in fifteen months (12/31/2024–03/31/2026); placements at $5.87 / $1.12 / $6.14 / $0.774 — the latest far below the $3.97 market price reported days later (03/20/2026); warrants on another 42.76 million shares at $1.00 through 11/30/2026; legacy burden: $686 million of accumulated losses, a 400:1 reverse split in 2023.
Material weaknesses in internal controls (10-K 2025), an auditor change in January 2026 with the new auditor signing off after roughly two months, insider sales by the chief strategy officer ($8.53–$9.66, May/June 2026) one day before his resignation; the CEO and CFO hold no shares of their own, and the biggest power factor is a Hong Kong fund whose shares plus warrants would approach half of the fully diluted capital (03/20/2026).
About $350 million of market value (July 10, 2026) for $1.87 million of revenue — triple-digit P/S, P/B of about 7, no P/E; plus micro-cap mechanics: ~17 percent average daily range, ~$0.7 million of daily dollar volume, 88 percent below the 52-week high and simultaneously ~216 percent above the low; no analyst estimates as a corrective.
Chaince Digital is not an empty shell: the broker-dealer license is real, the cash position of $36.7 million (March 31, 2026) is well filled, and the advisory business is growing from a tiny base. But the market value of about $350 million (July 10, 2026) pays a hundred-plus multiple of $1.87 million in annual revenue — with ongoing losses, one customer at 56.6 percent of revenue, leaky internal controls, a dilution series that went as low as $0.774 per share, and warrants on 42.8 million additional shares through November 30, 2026. Behind it lie four corporate names and $686 million of burned capital. Not investment advice.
- CD landed on our research list through our Reddit hype scanner (ApeWisdom data): 4 mentions in 24 hours as of July 15, 2026 — listed there still under "Chindata," the previous holder of the ticker (Nasdaq delisting December 2023). Forum mentions are sentiment signals, not quality signals.
- Chaince Digital reported as a foreign private issuer (20-F/6-K) through 2025 and has been a U.S. domestic filer since March 18, 2026: the 10-K for 2025 (March 26, 2026) is its first annual report in this format, the 10-Q as of March 31, 2026 its first quarterly report; Section 16 insider reporting applies since then as well.
- The market value figure is dated July 10, 2026 (about $350 million, fundamental data); analyses are evergreen, daily prices are not a buy argument. Scanner metrics (Altman Z-Score, Piotroski, distance from highs/lows) share the same data cut.
About the Company
Chaince Digital Holdings Inc. erbringt Finanz- und Beratungsdienstleistungen in Nordamerika, Großchina, Südostasien, Hongkong, Singapur, Malaysia und den USA.
| Employees | 13 |
|---|---|
| Headquarters | New York, NY |
| Website | chaincedigital.com |
| IPO Date | 8. Apr 2015 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Shi Qiu | CEO & Director | 1992 |
| James Tan | Co-founder | 1976 |
| Yukuan Zhang | Chief Financial Officer | 1988 |
| Freda Feng | IR Director | – |
| Xiangjun Liu | Senior Vice President of Sales | 1977 |
| Jinghan Wei | Vice President of Marketing and Public Relations | 1969 |
| Peter Yang | Head of Digital Assets | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.