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6-K 1 tm2519072d1_6k.htm FORM 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of June 2025

 

Commission File Number: 001-39591

 

 

 

iHuman Inc.

(Registrant’s Name)

 

 

 

Building A,
No. 1 Wangjing East Road,
Chaoyang District, Beijing 100102

People’s Republic of China

(Address of Principal Executive Offices)

 

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

 

Form 20-F   x   Form 40-F   ¨  

 

 

 

 


 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press Release

 

 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  iHuman Inc.
       
  By : /s/ Vivien Weiwei Wang
  Name : Vivien Weiwei Wang
  Title : Director and Chief Financial Officer

 

Date: June 26, 2025

 

 

 

 

EX-99.1 2 tm2519072d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

 

 

iHuman Inc. Announces First Quarter 2025 Unaudited Financial Results

 

BEIJING, China, Jun. 26, 2025 -- iHuman Inc. (NYSE: IH) (“iHuman” or the “Company”), a leading provider of tech-powered, intellectual development products in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

 

First Quarter 2025 Highlights

 

· Revenues were RMB210.4 million (US$29.0 million), compared with RMB235.0 million in the same period last year.

· Gross profit was RMB143.8 million (US$19.8 million), compared with RMB168.1 million in the same period last year.

· Operating income was RMB21.6 million (US$3.0 million), compared with RMB17.5 million in the same period last year.

· Net income was RMB26.5 million (US$3.7 million), compared with RMB22.3 million in the same period last year.

· Average total MAUs1 for the first quarter were 26.51 million, compared with 26.38 million in the same period last year.

 

Dr. Peng Dai, Director and Chief Executive Officer of iHuman, commented, “This quarter, we continued to drive innovation across our product portfolio while further strengthening our international industry partnerships.

 

Our flagship offerings maintain strong user engagement and a prominent market presence as they continue to deliver value to our users. During the quarter, iHuman Chinese expanded its content library with a broader set of Chinese characters, growing from 1,300 to 1,800 in total, offering children a more comprehensive and engaging experience. In iHuman Magic Thinking, we introduced a new module focused on applied problem-solving, using short, animated sessions to help children apply math concepts to real-life scenarios in a clear and accessible way.

 

In a continued effort to innovate, we also expanded our smart device portfolio with the launch of iHuman All-Subject Master, a budget-friendly device designed to help young children build foundational skills with minimal setup and guidance. With a built-in screen, tactile input, and voice interaction, the device delivers a multi-sensory experience that encourages independent engagement. Through thoughtfully designed content blending visual cues, spoken prompts, and interactive challenges, it supports the development of core language, numeracy, and critical thinking skills in a natural and enjoyable way.

 

As part of our industry collaboration efforts, we held in-depth discussions with Oxford University Press (OUP) at its UK headquarters in May. Together, we explored cooperation opportunities around OUP’s trusted content resources, children’s literature, and English proficiency assessments for young learners with a shared goal of accelerating the upgrade of our English offerings. To date, our English product line has already incorporated 25 original OUP reading series from around the globe, covering over 1,000 titles for children aged 3 to 12, and Oxford Primary English Reading Assessments for young learners. These resources are now fully integrated into our platform, enabling intelligent, age- and level-based recommendations. We also jointly developed the Fantastic Friends IP and a comprehensive English learning solution tailored for elementary school students. By combining world-class English learning resources with our cutting-edge interactive content and smart learning engines, we are committed to helping children build confidence and strength in English.

 

 

1 “Average total MAUs” refers to the monthly average of the sum of the MAUs of each of the Company’s apps during a specific period, which is counted based on the number of unique mobile devices through which such app is accessed at least once in a given month, and duplicate access to different apps is not eliminated from the total MAUs calculation.

 

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Looking ahead, we remain focused on developing high-quality, impactful products that empower children’s holistic growth, while steadily expanding our global footprint to reach more families around the world.”

 

Ms. Vivien Weiwei Wang, Director and Chief Financial Officer of iHuman, added, “We started 2025 by continuing our steady progress, achieving 13 consecutive quarters of profitability. AI remains a core pillar of our growth strategy as we continue to integrate intelligent capabilities across our offerings to enhance user experience and support more effective skill development. In line with this vision, we developed a customized coding program for Boya School, a well-regarded private institution in Beijing educating students from elementary to high school. Powered by iHuman AI Coder (formerly “iHuman Smart Coder”), this program marks the first formal application of our AI-powered coding content in a school setting. Designed specifically for young learners, it combines animated storytelling, hands-on exploration, and adaptive guidance to make foundational coding concepts more accessible and engaging. While still in its early stages, we view this initiative as a promising first step and look forward to introducing our high-quality, AI-enabled coding solutions to more classrooms in the future.

 

This effort also reflects our ongoing commitment to delivering innovative, future-ready solutions that meet the evolving needs of young learners while laying a solid foundation for our long-term growth.”

 

First Quarter 2025 Unaudited Financial Results

 

Revenues

 

Revenues were RMB210.4 million (US$29.0 million), compared with RMB235.0 million in the same period last year. The decrease in revenues was primarily due to the decline in China’s newborn population and more conservative consumer spending.

 

Average total MAUs for the quarter were 26.51 million, compared with 26.38 million in the same period last year.

 

Cost of Revenues

 

Cost of revenues was RMB66.7 million (US$9.2 million), compared with RMB66.9 million in the same period last year.

 

Gross Profit and Gross Margin

 

Gross profit was RMB143.8 million (US$19.8 million), compared with RMB168.1 million in the same period last year. Gross margin was 68.3%, compared with 71.5% in the same period last year. The decrease in gross margin was mainly due to the diversification and structural upgrades of the Company’s product portfolio, especially with an increased focus on the offline component of its integrated online-offline strategy to boost the overall appeal of its offerings.

 

Operating Expenses

 

Total operating expenses were RMB122.2 million (US$16.8 million), a decrease of 18.9% from RMB150.6 million in the same period last year.

 

Research and development expenses were RMB55.4 million (US$7.6 million), a decrease of 18.5% from RMB67.9 million in the same period last year, primarily due to savings in payroll-related costs.

 

Sales and marketing expenses were RMB41.3 million (US$5.7 million), a decrease of 25.0% from RMB55.0 million in the same period last year, primarily due to cost savings in marketing activities.

 

General and administrative expenses were RMB25.5 million (US$3.5 million), a decrease of 7.9% from RMB27.7 million in the same period last year, primarily due to savings in professional fees.

 

Operating Income

 

Operating income was RMB21.6 million (US$3.0 million), compared with RMB17.5 million in the same period last year.

 

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Net Income

 

Net income was RMB26.5 million (US$3.7 million), compared with RMB22.3 million in the same period last year.

 

Basic and diluted net income per ADS were RMB0.51 (US$0.07) and RMB0.49 (US$0.07), respectively, compared with RMB0.42 and RMB0.41 in the same period last year. Each ADS represents five Class A ordinary shares of the Company.

 

Deferred Revenue and Customer Advances

 

Deferred revenue and customer advances were RMB267.9 million (US$36.9 million) as of March 31, 2025, compared with RMB283.3 million as of December 31, 2024.

 

Cash, Cash Equivalents and Short-term Investments

 

Cash, cash equivalents and short-term investments were RMB1,119.1 million (US$154.2 million) as of March 31, 2025, compared with RMB1,168.7 million as of December 31, 2024. The decrease was primarily due to the payment of annual bonuses to employees in the first quarter.

 

Exchange Rate Information

 

The U.S. dollar (US$) amounts disclosed in this press release, except for those transaction amounts that were actually settled in U.S. dollars, are presented solely for the convenience of the reader. The conversion of Renminbi (RMB) into US$ in this press release is based on the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025, which was RMB7.2567 to US$1.00. The percentages stated in this press release are calculated based on the RMB amounts.

 

Non-GAAP Financial Measures

 

iHuman considers and uses non-GAAP financial measures, such as adjusted operating income, adjusted net income and adjusted diluted net income per ADS, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). iHuman defines adjusted operating income, adjusted net income and adjusted diluted net income per ADS as operating income, net income and diluted net income per ADS excluding share-based compensation expenses, respectively. Adjusted operating income, adjusted net income and adjusted diluted net income per ADS enable iHuman’s management to assess its operating results without considering the impact of share-based compensation expenses, which are non-cash charges. iHuman believes that these non-GAAP financial measures provide useful information to investors in understanding and evaluating the Company’s current operating performance and prospects in the same manner as management does, if they so choose.

 

Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools, which possibly do not reflect all items of expense that affect our operations. Share-based compensation expenses have been and may continue to be incurred in our business and are not reflected in the presentation of the non-GAAP financial measures. In addition, the non-GAAP financial measures iHuman uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited. The presentation of these non-GAAP financial measures is not intended to be considered in isolation from or as a substitute for the financial information prepared and presented in accordance with GAAP.

 

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Safe Harbor Statement

 

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Statements that are not historical facts, including statements about iHuman’s beliefs and expectations, are forward-looking statements. Among other things, the description of the management’s quotations in this announcement contains forward-looking statements. iHuman may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: iHuman’s growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the spending of paying users, the trends in, and size of, the market in which iHuman operates; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; regulatory environment; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in iHuman’s filings with the SEC. All information provided in this press release is as of the date of this press release, and iHuman does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

 

About iHuman Inc.

 

iHuman Inc. is a leading provider of tech-powered, intellectual development products in China that is committed to making the child-upbringing experience easier for parents and transforming intellectual development into a fun journey for children. Benefiting from a deep legacy that combines over two decades of experience in the parenthood industry, superior original content, advanced high-tech innovation DNA and research & development capabilities with cutting-edge technologies, iHuman empowers parents with tools to make the child-upbringing experience more efficient. iHuman’s unique, fun and interactive product offerings stimulate children’s natural curiosity and exploration. The Company’s comprehensive suite of innovative and high-quality products include self-directed apps, interactive content and smart devices that cover a broad variety of areas to develop children’s abilities in speaking, critical thinking, independent reading and creativity. Leveraging advanced technological capabilities, including 3D engines, AI/AR functionality, and big data analysis on children’s behavior & psychology, iHuman believes it will continue to provide superior experience that is efficient and relieving for parents, and effective and fun for children, in China and all over the world, through its integrated suite of tech-powered, intellectual development products.

 

For more information about iHuman, please visit https://ir.ihuman.com/.

 

For investor and media enquiries, please contact:

 

iHuman Inc. 

Mr. Justin Zhang 

Investor Relations Director 

Phone: +86-10-5780-6606 

E-mail: ir@ihuman.com

 

Christensen 

In China 

Ms. Alice Li 

Phone: +86-10-5900-1548 

E-mail: alice.li@christensencomms.com

 

In the US 

Ms. Linda Bergkamp 

Phone: +1-480-614-3004 

E-mail: linda.bergkamp@christensencomms.com

 

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iHuman Inc.

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”)

except for number of shares, ADSs, per share and per ADS data)

 

    December 31,     March 31,     March 31,  
    2024     2025     2025  
    RMB     RMB     US$  
ASSETS                        
Current assets                        
Cash and cash equivalents     1,123,292       1,119,064       154,211  
Short-term investments     45,457       -       -  
Accounts receivable, net     52,030       59,578       8,210  
Inventories, net     23,475       18,935       2,609  
Amounts due from related parties     2,051       1,449       200  
Prepayments and other current assets     89,512       90,290       12,442  
Total current assets     1,335,817       1,289,316       177,672  
Non-current assets                        
Property and equipment, net     3,476       3,026       417  
Intangible assets, net     16,429       16,075       2,215  
Operating lease right-of-use assets     14,885       14,064       1,938  
Long-term investment     26,333       26,333       3,629  
Other non-current assets     22,701       23,377       3,221  
Total non-current assets     83,824       82,875       11,420  
Total assets     1,419,641       1,372,191       189,092  
                         
LIABILITIES                        
Current liabilities                        
Accounts payable     30,233       24,363       3,357  
Deferred revenue and customer advances     283,251       267,916       36,920  
Amounts due to related parties     1,734       7,427       1,023  
Accrued expenses and other current liabilities     126,501       80,216       11,054  
Dividend payable     2,164       37,062       5,107  
Current operating lease liabilities     3,661       3,576       493  
Total current liabilities     447,544       420,560       57,954  
Non-current liabilities                        
Non-current operating lease liabilities     11,252       10,586       1,459  
Total non-current liabilities     11,252       10,586       1,459  
Total liabilities     458,796       431,146       59,413  
SHAREHOLDERS’ EQUITY                        
Ordinary shares (par value of US$0.0001 per share, 700,000,000 Class A shares authorized as of December 31, 2024 and March 31, 2025; 125,122,382 Class A shares issued and 116,084,207 outstanding as of December 31, 2024; 125,122,382 Class A shares issued and 113,607,892 outstanding as of March 31, 2025; 200,000,000 Class B shares authorized, 144,000,000 Class B ordinary shares issued and outstanding as of December 31, 2024 and March 31, 2025; 100,000,000 shares (undesignated) authorized, nil shares (undesignated) issued and outstanding as of December 31, 2024 and March 31, 2025)     185       185       25  
Additional paid-in capital     996,657       959,954       132,285  
Treasury stock     (26,296 )     (35,319 )     (4,867 )
Statutory reserves     8,395       8,395       1,157  
Accumulated other comprehensive income     24,009       23,417       3,227  
Accumulated deficit     (42,105 )     (15,587 )     (2,148 )
Total shareholders’ equity     960,845       941,045       129,679  
Total liabilities and shareholders’ equity     1,419,641       1,372,191       189,092  

 

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iHuman Inc.

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”)

except for number of shares, ADSs, per share and per ADS data)

 

    For the three months ended  
    March 31,     March 31,     March 31,  
    2024     2025     2025  
    RMB     RMB     US$  
Revenues     235,003       210,439       28,999  
Cost of revenues     (66,892 )     (66,663 )     (9,186 )
                         
Gross profit     168,111       143,776       19,813  
                         
Operating expenses                        
Research and development expenses     (67,923 )     (55,385 )     (7,632 )
Sales and marketing expenses     (54,995 )     (41,255 )     (5,685 )
General and administrative expenses     (27,724 )     (25,539 )     (3,519 )
Total operating expenses     (150,642 )     (122,179 )     (16,836 )
Operating income     17,469       21,597       2,977  
Other income, net     9,010       8,000       1,102  
Income before income taxes     26,479       29,597       4,079  
Income tax expenses     (4,177 )     (3,079 )     (424 )
Net income     22,302       26,518       3,655  
                         
Net income per ADS:                        
- Basic     0.42       0.51       0.07  
- Diluted     0.41       0.49       0.07  
                         
Weighted average number of ADSs:                        
- Basic     52,729,148       51,888,345       51,888,345  
- Diluted     54,691,599       53,884,134       53,884,134  
                         
Total share-based compensation expenses included in:                        
Cost of revenues     40       8       1  
Research and development expenses     457       110       15  
Sales and marketing expenses     46       16       2  
General and administrative expenses     301       104       14  

 

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iHuman Inc.

 

UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

 

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”) 

except for number of shares, ADSs, per share and per ADS data)

 

    For the three months ended  
    March 31,     March 31,     March 31,  
    2024     2025     2025  
    RMB     RMB     US$  
Operating income     17,469       21,597       2,977  
Share-based compensation expenses     844       238       32  
Adjusted operating income     18,313       21,835       3,009  
                         
Net income     22,302       26,518       3,655  
Share-based compensation expenses     844       238       32  
Adjusted net income     23,146       26,756       3,687  
                         
Diluted net income per ADS     0.41       0.49       0.07  
Impact of non-GAAP adjustments     0.01       0.01       0.00  
Adjusted diluted net income per ADS     0.42       0.50       0.07  
                         
Weighted average number of ADSs – diluted     54,691,599       53,884,134       53,884,134  
Weighted average number of ADSs – adjusted     54,691,599       53,884,134       53,884,134  

 

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