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TuanChe
(NASDAQ:TC)
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Rating:46Neutral
Price Target:
$8.00
▼(-7.51% Downside)
Action:Reiterated
Date:05/12/26
The score is primarily held down by weak financial performance—sharp revenue contraction, very poor operating profitability, and significant ongoing cash burn—despite a modestly leveraged balance sheet in the latest period. Technicals are mixed with a weaker longer-term trend, while valuation is a relative positive due to the low P/E.
Positive Factors
Platform business model / buyer-dealer network
TuanChe’s core platform links high-intent car buyers with dealers through organized events and online services. That buyer-dealer matchmaking and event-driven model creates recurring commercial touchpoints, network effects, and a durable channel for monetizing dealer marketing budgets over time.
Negative Factors
Severe revenue contraction
An 84.3% revenue drop in 2025 signals material loss of scale and marketplace activity. Sustained scale declines weaken dealer incentives to participate, erode bargaining power, and reduce fixed-cost absorption, making it harder to rebuild durable margins and grow core transactional revenue over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform business model / buyer-dealer network
TuanChe’s core platform links high-intent car buyers with dealers through organized events and online services. That buyer-dealer matchmaking and event-driven model creates recurring commercial touchpoints, network effects, and a durable channel for monetizing dealer marketing budgets over time.
Read all positive factors
TuanChe (TC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$13.43M
Dividend YieldN/A
Average Volume (3M)12.55K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees116
SectorCommunication Services
Sector Strength97
IndustrySpecialty Business Services
Share Statistics
EPS (TTM)-72.96
Shares Outstanding26,412,820
10 Day Avg. Volume25,770
30 Day Avg. Volume12,554
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.04
Price to Sales (P/S)1.00
P/FCF Ratio-0.03
Enterprise Value/Market Cap14.04
Enterprise Value/Revenue5.14
Enterprise Value/Gross Profit7.02
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
TuanChe Business Overview & Revenue Model
Company Description
Token Cat Limited, through its subsidiaries, operates as an omni-channel automotive marketplace in the People’s Republic of China. The company organizes auto shows and special promotion events; and provides integrated marketing solutions to indust...
How the Company Makes Money
TuanChe primarily makes money by providing marketing and transaction-facilitation services to automobile dealers. Key revenue streams include: (1) event-based dealer fees tied to participation in TuanChe-organized auto purchase promotion events (w...
TuanChe Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
44
Neutral
Cash Flow
9
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.65M | 5.76M | 49.18M | 162.37M | 183.19M | 357.55M |
| Gross Profit | 26.85M | 163.42K | 33.58M | 93.42M | 112.65M | 272.26M |
| EBITDA | 0.00 | -33.54M | -85.89M | -115.28M | -95.31M | -103.44M |
| Net Income | -147.99M | 2.21M | -187.99M | -82.97M | -166.49M | -101.94M |
Balance Sheet | ||||||
| Total Assets | 203.70M | 172.99M | 44.14M | 119.35M | 235.27M | 353.07M |
| Cash, Cash Equivalents and Short-Term Investments | 1.07M | 976.62K | 9.08M | 16.16M | 77.88M | 71.10M |
| Total Debt | 41.70M | 6.21M | 48.47M | 24.79M | 17.41M | 11.06M |
| Total Liabilities | 170.72M | 40.62M | 184.95M | 99.86M | 142.49M | 159.76M |
| Stockholders Equity | 32.99M | 132.36M | -140.81M | 19.48M | 92.78M | 194.41M |
Cash Flow | ||||||
| Free Cash Flow | -193.15M | -171.56M | -34.74M | -74.89M | -109.89M | -93.22M |
| Operating Cash Flow | -193.13M | -171.56M | -34.72M | -74.89M | -109.68M | -92.25M |
| Investing Cash Flow | -12.00K | -4.77M | -19.00K | 0.00 | -212.00K | 47.86M |
| Financing Cash Flow | 187.14M | 159.13M | 30.16M | 13.97M | 91.24M | 7.00M |
TuanChe Technical Analysis
Negative
8.65
Price Trends
9.30
Negative
10.18
Negative
12.06
Negative
Market Momentum
-0.29
Positive
33.22
Neutral
30.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TC, the sentiment is Negative. The current price of 8.65 is below the 20-day moving average (MA) of 8.93, below the 50-day MA of 9.30, and below the 200-day MA of 12.06, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 33.22 is Neutral, neither overbought nor oversold. The STOCH value of 30.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TC.
TuanChe Risk Analysis
TuanChe disclosed 88 risk factors in its most recent earnings report. TuanChe reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Our and the VIEs' business operations have been and may continue to be materially and adversely affected by the COVID-19 pandemic. Q4, 2023
TuanChe Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $2.21B | 5.02 | 3.51% | 0.00% | -11.00% | -28.35% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | $5.49M | 3.80 | -35.00% | ― | -1.11% | ― | |
59 Neutral | $190.51M | -2.69 | -4.79% | ― | -19.42% | -2894.74% | |
48 Neutral | $92.38M | -0.05 | -14.44% | ― | 33.55% | 58.06% | |
46 Neutral | $13.43M | -1.38 | -1080.13% | ― | ― | ― |
* Communication Services Sector Average
TC
TuanChe
8.01
-7.99
-49.94%
ATHM
AutoHome
19.00
-6.55
-25.64%
CMCM
Cheetah Mobile
3.05
-1.52
-33.26%
KRKR
36Kr Holdings Inc
2.80
-3.20
-53.35%
ZH
Zhihu
3.13
-0.85
-21.36%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.