Chaince Digital Holdings Inc. (CD)
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symbol.quality_heading
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Here a triple-digit price-to-sales ratio meets distress metrics, control weaknesses and an active dilution machine — the combination in which the burden of proof sits entirely with the buyer. Whoever follows the stock anyway has clear waymarks: the quarterly revenue (does the advisory business sustainably carry more than a handful of mandates?), the fate of the 42.8 million warrant shares through November 30, 2026, the remediation of the internal control weaknesses in the next 10-K — and any further placement below the market price as an alarm signal. Until then: identify the company first, admire the label second. The decision is yours.
symbol.quality_note
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.
Read the analysis
Stock Watch
This analysis is as of July 15, 2026. Stock Watch will tell you what's changed at CD since then.
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Appears in These Scanners
This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
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Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 2.80 $ — 0% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
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
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
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 31, 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.