LICN

Company Overview — What Does Lichen China Ltd Do?

We are a leading financial and taxation service provider in China in terms of revenue, according the industry report of Frost & Sullivan. We have operated as a dedicated financial and taxation solution service specialist in China for over 17 years. We focus on providing (i) financial and taxation solution services; (ii) education support services; and (iii) software and maintenance services in the PRC under the “Lichen” brand. With over 17 years of operation history, we have gained substantial experience and established a solid reputation with our proven track record in the PRC. Leveraging our business relationships with our Partnered Institutions (as defined below), our expertise and experience obtained in the financial and taxation solution services market, and our experience in developing financial and taxation training software and financial and taxation analysis software by our research and development (“R&D”) department, we launched a new business line of software and maintenance services in 2019 to expand our software product offerings to enterprise customers, universities, colleges and educational institutes and have started to generate revenue from provision of such services since then. In recognition of our expertise and experience earned from over 17 years in the financial and taxation solution services industry, we have built up our reputation as a dedicated financial and taxation solution services provider in the PRC. From 2012 to 2020, we have been recognized as one of the Top 50 Providers of Management Consulting Services in China for eight consecutive years by the China Enterprise Confederation Management Advisory Committee. According to the industry report of Frost & Sullivan, which is our source for the industry information discussed in this prospectus, we ranked first in terms of revenue among the solution service specialists, i.e. those service providers which focus on the market of financial and taxation solution service, with a market share of approximately 0.5% in the PRC financial and taxation solution services market in 2019 and tenth in terms of revenue among providers of education support services, with a market share of approximately 0.1% in the PRC education support services market in 2019. Our Partnered Institutions, located in 12 provinces or municipalities and 23 cities in the PRC, are education services providers which mainly engage in the organization of various seminars, talks and training courses to entrepreneurs, senior executives as well as financial and taxation executives. Through our business relationships with these Partnered Institutions, we are able to, on the one hand, provide our education support services to them and, on the other hand, leverage their business networks and their geographical coverage and promote our brand name and services to the participants of these seminars, talks and courses organized by them. Our principal executive office is located B2306, Block B Tower 3, Jinjiang Wanda Plaza Commercial Complex 888 Century Avenue Meiling Street, Jinjiang City Fujian, PRC. Our registered office in Cayman Islands is at Windward 3, Regatta Office Park, PO Box 1350, Grand Cayman KY1-1108, Cayman Islands. Our registered agent in the United States is Cogency Global Inc., 122 E 42nd St 18th Fl, New York, NY. Lichen China Ltd (LICN) is classified as a micro-cap stock in the Industrials sector, specifically within the Business Services industry. The company is led by CEO Ya Li and employs approximately 390 people. With a market capitalization of $72M, LICN is one of the notable companies in the Industrials sector.

Lichen China Ltd (LICN) Stock Rating — Hold (April 2026)

As of April 2026, Lichen China Ltd receives a Hold rating with a composite score of 34.9/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.LICN ranks #1,829 out of 4,446 stocks in our coverage universe. Within the Industrials sector, Lichen China Ltd ranks #291 of 752 stocks, placing it in the upper half of its Industrials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

LICN Stock Price and 52-Week Range

Lichen China Ltd (LICN) currently trades at $3.13. The stock lost $0.96 (23.5%) in the most recent trading session. Recent trading volume was 79K shares, suggesting relatively thin trading activity.

Is LICN Overvalued or Undervalued? — Valuation Analysis

Lichen China Ltd (LICN) carries a value factor score of 25/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.99x, versus the sector average of 2.23x. The price-to-sales ratio is 0.44x, compared to 0.50x for the average Industrials stock.

At current multiples, Lichen China Ltd trades at a premium to most Industrials peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Lichen China Ltd Profitability — ROE, Margins, and Quality Score

Lichen China Ltd (LICN) earns a quality factor score of 36/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -33.5%, compared to the Industrials sector average of 8.9%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -30.7% versus the sector average of 3.3%.

On a margin basis, Lichen China Ltd reports gross margins of 61.9%, compared to 35.8% for the sector. The operating margin is -11.0% (sector: 6.2%). Net profit margin stands at -14.8%, versus 3.9% for the average Industrials stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

LICN Debt, Balance Sheet, and Financial Health

Lichen China Ltd has a debt-to-equity ratio of 0.0%, compared to the Industrials sector average of 70.0%. The low leverage indicates a conservative balance sheet with significant financial flexibility. Total debt on the balance sheet is $0. Cash and equivalents stand at $27M.

LICN has a beta of 1.56, meaning it is more volatile than the broader market — a $10,000 investment in LICN would be expected to move 55.7% more than the S&P 500 on any given day. The stability factor score for Lichen China Ltd is 15/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Lichen China Ltd Revenue and Earnings History — Quarterly Trend

In TTM 2026, Lichen China Ltd reported revenue of $41M and earnings per share (EPS) of $-34.79. Net income for the quarter was $-6M. Gross margin was 61.9%. Operating income came in at $-5M.

In FY 2024, Lichen China Ltd reported revenue of $41M and earnings per share (EPS) of $-34.79. Net income for the quarter was $-6M. Gross margin was 61.9%. Revenue grew 4.3% year-over-year compared to FY 2023. Operating income came in at $-5M.

In FY 2023, Lichen China Ltd reported revenue of $40M and earnings per share (EPS) of $63.96. Net income for the quarter was $8M. Gross margin was 61.2%. Revenue grew 17.6% year-over-year compared to FY 2022. Operating income came in at $12M.

In FY 2022, Lichen China Ltd reported revenue of $34M and earnings per share (EPS) of $0.35. Net income for the quarter was $8M. Gross margin was 59.7%. Revenue grew -19.7% year-over-year compared to FY 2021. Operating income came in at $11M.

Over the past 5 quarters, Lichen China Ltd has experienced revenue contraction from $42M to $41M. Investors analyzing LICN stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

LICN Dividend Yield and Income Analysis

Lichen China Ltd (LICN) does not currently pay a dividend. This is common among smaller companies in the Business Services industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Industrials dividend stocks may want to explore other Industrials stocks or use the stock screener to filter by dividend yield.

LICN Momentum and Technical Analysis Profile

Lichen China Ltd (LICN) has a momentum factor score of 46/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 26/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 47/100 reflects moderate short selling activity.

LICN vs Competitors — Industrials Sector Ranking and Peer Comparison

Within the Industrials sector, Lichen China Ltd (LICN) ranks #291 out of 752 stocks based on the Blank Capital composite score. This places LICN in the upper half of all Industrials stocks in our coverage universe. Key competitors and sector peers include South Bow Corp (SOBO) with a score of 56.5/100, TSAKOS ENERGY NAVIGATION LTD (TEN) with a score of 61.4/100, Great Lakes Dredge & Dock CORP (GLDD) with a score of 56.7/100, Tri Pointe Homes, Inc. (TPH) with a score of 57.3/100, and Clear Channel Outdoor Holdings, Inc. (CCO) with a score of 52.2/100.

Comparing LICN against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full LICN vs S&P 500 (SPY) comparison to assess how Lichen China Ltd stacks up against the broader market across all factor dimensions.

LICN Next Earnings Date

No upcoming earnings date has been announced for Lichen China Ltd (LICN) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy LICN? — Investment Thesis Summary

Lichen China Ltd presents a balanced picture with arguments on both sides. The quality score of 36/100 flags below-average profitability. The value score of 25/100 indicates premium valuation. High volatility (stability score 15/100) increases portfolio risk.

In summary, Lichen China Ltd (LICN) earns a Hold rating with a composite score of 34.9/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on LICN stock.

Related Resources for LICN Investors

Explore more research and tools: LICN vs S&P 500 comparison, top Industrials stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare LICN head-to-head with peers: LICN vs SOBO, LICN vs TEN, LICN vs GLDD.