Datasea Intelligent Technology Ltd.

DTSSdata completeness 88%3 fiscal years on file

The thesis, from the filings

Datasea Intelligent Technology Ltd. earns about -98% on invested capital, but has diluted owners by 271% over 3 years — worth asking whether the growth reaches owners. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own

Figure	FY 2024	FY 2025	FY 2026
Revenue	$24M¹	$70.3M¹	$40M¹
Net income	−$11.4M²	−$5.09M²	−$2.19M²
Operating cash flow	−$6.4M³	−$2.37M³	$1.98M³
Capital expenditure	$6,868⁴	$8,129⁴	$942⁴
Free cash flow (derived)	−$6.41M³	−$2.38M³	$1.98M³
Total debt	—	—	—
Cash & equivalents	$181,262⁵	$594,722⁶	$316,548⁶
Diluted shares	2.6M	6.6M	9.6M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal

If you owned

shares

Net assets behind them

$7.53

your share of equity

Profit it earned you last year

−$2.27

Free cash flow it threw off

$2.05

Debt you’d be carrying

—

10 shares is a claim on $7.53 of net worth that earned you −$2.27 and generated $2.05 of cash last year.

iii. Is this a good business?

Moat signal · return on invested capital

-98% avg · 3y

FY24 —FY25 -170%FY26 -25%

It earned an average -98% on invested capital over 3 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →

Management signal · capital allocation

+271% shares · 3y

Share count is up 271% over 3 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.5.0

DCF · Growth Exit 10Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

DCF · Growth Exit 5Y

not applicable

3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)

Earnings Power Value

not applicable

normalized (5y-median) earnings non-positive — EPV undefined

not applicable

diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts

20-F · period ending 2024-06-30 · accession 0001213900-26-106369 (RevenueFromContractWithCustomerExcludingAssessedTax)
20-F · period ending 2024-06-30 · accession 0001213900-26-106369 (NetIncomeLoss)
20-F · period ending 2024-06-30 · accession 0001213900-26-106369 (NetCashProvidedByUsedInOperatingActivities)
20-F · period ending 2024-06-30 · accession 0001213900-26-106369 (PaymentsToAcquirePropertyPlantAndEquipment)
20-F · period ending 2024-06-30 · accession 0001213900-26-106369 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
20-F · period ending 2025-06-30 · accession 0001213900-26-106369 (CashAndCashEquivalentsAtCarryingValue)