Zhanling International Ltd
ZLMEdata completeness 50%16 fiscal years on fileData notes: no data for concept 'revenue'; no data for concept 'capex'; no data for concept 'cash'; no data for concept 'totalDebt'; no data for concept 'incomeTaxExpense'
i. The business — what you’d actually own
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Net income | −$17,3301 | −$40,3252 | −$29,2832 | −$30,8653 | −$39,8573 |
| Operating cash flow | −$62,0514 | −$27,5515 | −$37,8055 | −$39,1136 | −$35,9336 |
| Capital expenditure | — | — | — | — | — |
| Free cash flow (derived) | — | — | — | — | — |
| Total debt | — | — | — | — | — |
| Cash & equivalents | — | — | — | — | — |
| Diluted shares | 73,200 | 73,200 | 73,200 | 73,200 | 73,200 |
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
−$6.59
your share of equity
Profit it earned you last year
−$5.44
Free cash flow it threw off
—
Debt you’d be carrying
—
10 shares is a claim on −$6.59 of net worth that earned you −$5.44 last year.
iii. Is this a good business?
Moat signal · return on equity
— avg · 5y
Not enough data in the filings for a return-on-capital reading.
seeing a moat in the numbers →Management signal · capital allocation
−0% shares · 5y
Share count is roughly flat over 5 years — little dilution, little buyback.
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 v0.1.0
DCF · Growth Exit 10Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
DCF · Growth Exit 5Y
not applicable
only 0 years of FCF (need ≥3) — model not applicable
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined
Different models answer different questions — which to trust when →
Sources — the receipts
- 10-K · period ending 2021-12-31 · accession 0001493152-23-010210 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001493152-24-011726 (NetIncomeLoss)
- 10-K · period ending 2024-05-31 · accession 0001641172-25-025006 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001493152-23-010210 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001493152-24-011726 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-05-31 · accession 0001641172-25-025006 (NetCashProvidedByUsedInOperatingActivities)