Cover
Cover | 12 Months Ended |
Sep. 30, 2023 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Financial Statement Error Correction [Flag] | false |
Document Shell Company Report | false |
Entity Interactive Data Current | Yes |
Document Accounting Standard | U.S. GAAP |
ICFR Auditor Attestation Flag | false |
Amendment Flag | false |
Document Period End Date | Sep. 30, 2023 |
Document Fiscal Year Focus | 2023 |
Document Fiscal Period Focus | FY |
Entity Information [Line Items] | |
Entity Registrant Name | FLJ Group Limited |
Entity Central Index Key | 0001769256 |
Entity File Number | 001-39111 |
Entity Incorporation, State or Country Code | E9 |
Current Fiscal Year End Date | --09-30 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Shell Company | false |
Entity Filer Category | Accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Contact Personnel [Line Items] | |
Entity Address, Address Line One | Room 1610 |
Entity Address, Address Line Two | No. 917, East Longhua Road |
Entity Address, Address Line Three | Huangpu District |
Entity Address, City or Town | Shanghai |
Entity Address, Country | CN |
Entity Address, Postal Zip Code | 200023 |
American depositary shares (one American depositary share representing six hundred thousand (600,000) Class A ordinary shares, par value US$0.0000001 per share) | |
Entity Listings [Line Items] | |
Title of 12(b) Security | American depositary shares (one American depositary share representing six hundred thousand (600,000) Class A ordinary shares |
Trading Symbol | FLJ |
Security Exchange Name | NASDAQ |
Class A ordinary shares, par value US$0.0000001 per share | |
Entity Listings [Line Items] | |
Title of 12(b) Security | Class A ordinary shares, par value US$0.0000001 per share |
Class A Ordinary Shares | |
Entity Listings [Line Items] | |
Entity Common Stock, Shares Outstanding | 2,587,892,046,400 |
Class B Ordinary Shares | |
Entity Listings [Line Items] | |
Entity Common Stock, Shares Outstanding | 250,000,000,000 |
Business Contact [Member] | |
Entity Contact Personnel [Line Items] | |
Contact Personnel Name | Chengcai Qu, Chief Executive Officer |
Contact Personnel Email Address | ccqu@qk365.com |
Entity Address, Address Line One | Room 1610 |
Entity Address, Address Line Two | No. 917, East Longhua Road |
Entity Address, Address Line Three | Huangpu District |
Entity Address, City or Town | Shanghai |
Entity Address, Country | CN |
Entity Address, Postal Zip Code | 200023 |
Entity Phone Fax Numbers [Line Items] | |
City Area Code | 86-21-6422-8532 |
Local Phone Number | +86-21-6422-8532 |
Audit Information
Audit Information | 12 Months Ended |
Sep. 30, 2023 | |
Auditor [Table] | |
Auditor Name | Marcum Asia CPAs LLP |
Auditor Firm ID | 5395 |
Auditor Location | New York, NY |
Consolidated Balance Sheets
Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) | |
ASSETS | ||||
Cash and cash equivalents | ¥ 360 | $ 49 | ¥ 563 | |
Advances to suppliers | 7,296 | 1,000 | 7,114 | |
Other current assets | 1,334 | 183 | ||
Current assets of discontinued operations | 76,663 | 10,508 | 63,483 | |
Total current assets | 85,653 | 11,740 | 71,160 | |
Non-current assets: | ||||
Non-current assets of discontinued operations | 24,380 | |||
Total non-current assets | 24,380 | |||
Total assets | 85,653 | 11,740 | 95,540 | |
LIABILITIES | ||||
Accounts payable | 182 | 25 | ||
Amounts due to related parties | 4,495 | 4,065 | ||
Short-term debt | 44,432 | 6,090 | 6,544 | |
Contingent liabilities for payable for asset acquisition | 169,267 | 23,200 | 165,033 | |
Accrued expenses and other current liabilities | 2,375 | 327 | 3,456 | |
Current liabilities of discontinued operations | 508,326 | 69,672 | 489,304 | |
Total liabilities | 729,077 | 99,930 | 668,402 | |
Commitments and contingencies | ||||
SHAREHOLDERS’ DEFICIT: | ||||
Additional paid-in capital | 2,959,235 | 405,597 | 2,954,625 | |
Accumulated deficit | (3,629,980) | (497,530) | (3,558,667) | |
Accumulated other comprehensive income | 25,422 | 3,467 | 29,453 | |
Total shareholders’ deficit | (643,424) | (88,190) | (572,862) | |
Total liabilities and shareholders’ deficit | 85,653 | 11,740 | 95,540 | |
Class A Ordinary shares | ||||
SHAREHOLDERS’ DEFICIT: | ||||
Ordinary shares value | [1] | 1,727 | 251 | 1,727 |
Class B Ordinary shares | ||||
SHAREHOLDERS’ DEFICIT: | ||||
Ordinary shares value | [1] | 172 | 25 | |
Related Party | ||||
LIABILITIES | ||||
Amounts due to related parties | ¥ 4,495 | $ 616 | ¥ 4,065 | |
[1]Retroactively restated to give effect to a share subdivision at a ratio of one-for-one hundredth (100) ordinary shares effective on September 18, 2023 (Note 1). |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2023 | Sep. 30, 2022 |
Class A Ordinary shares | ||
Ordinary shares, par value per share (in Dollars per share) | $ 0.00 | $ 0.00 |
Ordinary shares, shares authorized | 8,500,000,000,000 | 3,750,000,000,000 |
Ordinary shares, shares issued | 2,587,892,046,400 | 2,587,892,046,400 |
Ordinary shares, shares outstanding | 2,587,892,046,400 | 2,587,892,046,400 |
Class B Ordinary shares | ||
Ordinary shares, par value per share (in Dollars per share) | $ 0.00 | $ 0.00 |
Ordinary shares, shares authorized | 1,000,000,000,000 | 250,000,000,000 |
Ordinary shares, shares issued | 250,000,000,000 | |
Ordinary shares, shares outstanding | 250,000,000,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive (Loss) Income ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Sep. 30, 2023 CNY (¥) ¥ / shares shares | Sep. 30, 2023 USD ($) $ / shares shares | Sep. 30, 2022 CNY (¥) ¥ / shares shares | Sep. 30, 2021 CNY (¥) ¥ / shares shares | ||
Income Statement [Abstract] | |||||
Net revenues | |||||
Operating costs and expenses: | |||||
Selling and marketing expenses | (24) | (3) | (12) | (7) | |
General and administrative expenses | (25,671) | (3,519) | (29,321) | (27,528) | |
Research and development expenses | (46) | (6) | (22) | 192 | |
Other expenses | 9 | 1 | |||
Total operating costs and expenses | (25,732) | (3,527) | (29,355) | (27,343) | |
Loss from continuing operations | (25,732) | (3,527) | (29,355) | (27,343) | |
Interest expense, net | (1,567) | (215) | (42,045) | (103,229) | |
Inducement expenses | (423,686) | ||||
Loss from continuing operations before income taxes | (27,299) | (3,742) | (495,086) | (130,572) | |
Income tax expense | |||||
Net loss from continuing operations | (27,299) | (3,742) | (495,086) | (130,572) | |
Net (loss) income from discontinued operations | (44,014) | (6,032) | 1,315,066 | (438,630) | |
Net (loss) income | (71,313) | (9,774) | 819,980 | (569,202) | |
Less: net loss from discontinued operations attributable to noncontrolling interests | (43) | (28) | |||
Net (loss) income attributable to FLJ Group Limited’s ordinary shareholders | (71,313) | (9,774) | 820,023 | (569,174) | |
Net loss from continuing operations attributable to FLJ Group Limited’s ordinary shareholders | (27,299) | (3,742) | (495,086) | (130,572) | |
Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders | ¥ (44,014) | $ (6,032) | ¥ 1,315,109 | ¥ (438,602) | |
Weighted average number of ordinary shares used in computing net loss per share—Basic and diluted (in Shares) | [1] | 2,805,073,364,600 | 2,805,073,364,600 | 1,025,842,445,700 | 146,069,290,900 |
Net (loss) earnings per share attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 | |
Net loss per share from continuing operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | 0 | 0 | 0 | 0 | |
Net (loss) earnings from per share discontinued operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (in Dollars per share and Yuan Renminbi per share) | (per share) | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 | |
Net (loss) income | ¥ (71,313) | $ (9,774) | ¥ 819,980 | ¥ (569,202) | |
Other comprehensive income (expenses), net of tax of nil: | |||||
Foreign currency translation adjustments | (4,031) | (552) | (9,331) | 20,427 | |
Comprehensive (loss) income | (75,344) | (10,326) | 810,649 | (548,775) | |
Less: comprehensive loss attributable to noncontrolling interests | (43) | (28) | |||
Comprehensive (loss) income attributable to FLJ Group Limited’s ordinary shareholders | (75,344) | (10,326) | 810,692 | (548,747) | |
Comprehensive loss from continuing operations attributable to FLJ Group Limited’s ordinary shareholders | (45,122) | (6,184) | (533,747) | (100,504) | |
Comprehensive (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders | ¥ (30,222) | $ (4,142) | ¥ 1,344,439 | ¥ (448,243) | |
[1]Retroactively restated to give effect to a share subdivision at a ratio of one-for-one hundredth (100) ordinary shares effective on September 18, 2023 (Note 1). |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive (Loss) Income (Parentheticals) | 12 Months Ended | |||
Sep. 30, 2023 $ / shares shares | Sep. 30, 2023 ¥ / shares shares | Sep. 30, 2022 ¥ / shares shares | Sep. 30, 2021 ¥ / shares shares | |
Income Statement [Abstract] | ||||
Weighted average number of ordinary shares used in computing net loss per share— diluted (in Shares) | 2,805,073,364,600 | 2,805,073,364,600 | 1,025,842,445,700 | 146,069,290,900 |
Net (loss) earnings per share attributable to ordinary shareholders of FLJ Group Limited—Diluted | (per share) | $ 0 | ¥ 0 | ¥ 0 | ¥ 0 |
Net loss per share from continuing operations attributable to ordinary shareholders of FLJ Group Limited—diluted | (per share) | 0 | 0 | 0 | 0 |
Net (loss) earnings from per share discontinued operations attributable to ordinary shareholders of FLJ Group Limited—diluted | (per share) | $ 0 | ¥ 0 | ¥ 0 | ¥ 0 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders’ Deficit - CNY (¥) ¥ in Thousands | Class A Ordinary shares | Class A | Class B Ordinary shares | Class B | Series A non-redeemable preferred shares | Treasury stock | Additional paid in capital | Accumulated other comprehensive (loss) income | Accumulated deficit | Parent | Noncontrolling interests | Total |
Balance at Sep. 30, 2020 | ¥ 81 | ¥ 11 | ¥ (298,110) | ¥ 2,085,099 | ¥ 18,357 | ¥ (3,809,516) | ¥ (2,004,078) | ¥ 9,628 | ¥ (1,994,450) | |||
Balance (in Shares) at Sep. 30, 2020 | 125,562,130,100 | 18,038,954,900 | (7,725,000,000) | |||||||||
Issuance of ordinary shares to settle payable for asset acquisition | ¥ 11 | (8) | 3 | 3 | ||||||||
Issuance of ordinary shares to settle payable for asset acquisition (in Shares) | 18,637,585,000 | |||||||||||
Reissuance of treasury shares to as debt extinguishment cost | ¥ 298,110 | (256,146) | 41,964 | 41,964 | ||||||||
Reissuance of treasury shares to as debt extinguishment cost (in Shares) | 7,725,000,000 | |||||||||||
Exercise of share-based compensation | ¥ 2 | (2) | ||||||||||
Exercise of share-based compensation (in Shares) | 2,500,000,000 | |||||||||||
Issuance and repurchase of ordinary shares | ¥ 5 | ¥ (5) | ||||||||||
Issuance and repurchase of ordinary shares (in Shares) | 7,710,000,000 | (7,710,000,000) | ||||||||||
Share-based compensation | 15,806 | 15,806 | 15,806 | |||||||||
Warrants issued in connection with convertible notes | 546 | 546 | 546 | |||||||||
Net income (loss) | (569,174) | (569,174) | (28) | (569,202) | ||||||||
Foreign currency translation adjustments | 20,427 | 20,427 | 20,427 | |||||||||
Balance at Sep. 30, 2021 | ¥ 99 | ¥ 11 | ¥ (5) | 1,845,295 | 38,784 | (4,378,690) | (2,494,506) | 9,600 | (2,484,906) | |||
Balance (in Shares) at Sep. 30, 2021 | 154,409,715,100 | 18,038,954,900 | (7,710,000,000) | |||||||||
Issuance of ordinary shares to settle acquisition of certain assets from two third parties | ¥ 1 | (1) | ||||||||||
Issuance of ordinary shares to settle acquisition of certain assets from two third parties (in Shares) | 766,206,000 | |||||||||||
Issuance of ordinary shares upon the conversion of convertible bond | ¥ 1,031 | 700,372 | 701,403 | 701,403 | ||||||||
Issuance of ordinary shares upon the conversion of convertible bond (in Shares) | 1,541,446,740,000 | |||||||||||
Issuance of ordinary shares to settle short-term borrowings | ¥ 577 | 391,527 | 392,104 | 392,104 | ||||||||
Issuance of ordinary shares to settle short-term borrowings (in Shares) | 861,712,425,000 | |||||||||||
Acquisition of noncontrolling interest | (243) | (243) | (9,557) | (9,800) | ||||||||
Transfer of treasury stock to a third party | ¥ 5 | 6,492 | 6,497 | 6,497 | ||||||||
Transfer of treasury stock to a third party (in Shares) | 7,710,000,000 | |||||||||||
Redesignation of Class B Ordinary Shares into Class A Ordinary Shares | ¥ 11 | ¥ (11) | 0 | |||||||||
Redesignation of Class B Ordinary Shares into Class A Ordinary Shares (in Shares) | 18,038,954,900 | (18,038,954,900) | ||||||||||
Share-based compensation | ¥ 8 | 9,763 | 9,771 | 9,771 | ||||||||
Share-based compensation (in Shares) | 11,518,005,400 | |||||||||||
Warrants issued in connection with convertible notes | 1,420 | 1,420 | 1,420 | |||||||||
Net income (loss) | 820,023 | 820,023 | ¥ (43) | 819,980 | ||||||||
Foreign currency translation adjustments | (9,331) | (9,331) | (9,331) | |||||||||
Balance at Sep. 30, 2022 | ¥ 1,727 | 0 | 2,954,625 | 29,453 | (3,558,667) | (572,862) | (572,862) | |||||
Balance (in Shares) at Sep. 30, 2022 | 2,587,892,046,400 | 2,587,892,046,400 | ||||||||||
Issuance of Class B Ordinary shares | ¥ 172 | (172) | ||||||||||
Issuance of Class B Ordinary shares (in Shares) | 250,000,000,000 | |||||||||||
Share-based compensation | 4,782 | 4,782 | 4,782 | |||||||||
Net income (loss) | 0 | (71,313) | (71,313) | (71,313) | ||||||||
Foreign currency translation adjustments | (4,031) | (4,031) | (4,031) | |||||||||
Balance at Sep. 30, 2023 | ¥ 1,727 | ¥ 172 | ¥ 2,959,235 | ¥ 25,422 | ¥ (3,629,980) | ¥ (643,424) | ¥ (643,424) | |||||
Balance (in Shares) at Sep. 30, 2023 | 2,587,892,046,400 | 2,587,892,046,400 | 250,000,000,000 | 250,000,000,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) | Sep. 30, 2021 CNY (¥) | |
Operating activities: | ||||
Net (loss) income | ¥ (71,313) | $ (9,774) | ¥ 819,980 | ¥ (569,202) |
Less: net (loss) income from discontinued operations | (44,014) | (6,032) | 1,315,066 | (438,630) |
Net loss from continuing operations | (27,299) | (3,742) | (495,086) | (130,572) |
Adjustments to reconcile net loss from continuing operations to net cash used in operating activities: | ||||
Share-based compensation | 4,782 | 655 | 9,771 | 15,806 |
Accretion of interest expenses | 1,222 | 1,988 | ||
Inducement expenses | 423,686 | |||
Changes in operating assets and liabilities: | ||||
Advances to suppliers | (7,114) | |||
Other current assets | (1,334) | (184) | 6,497 | |
Accounts payable | 182 | 25 | ||
Amounts due to related parties | 429 | 59 | ||
Accrued expenses and other current liabilities | (1,080) | (148) | 53,928 | (48,624) |
Net cash used in operating activities from continuing operations | (24,320) | (3,335) | (7,096) | (161,402) |
Net cash provided by (used in) operating activities from discontinued operations | (15,547) | (2,129) | (32,493) | 51,741 |
Net cash used in operating activities | (39,867) | (5,464) | (39,589) | (109,661) |
Investing activities: | ||||
Payment for asset acquisition | (6,484) | |||
Net cash used in investing activities from continuing operations | (6,484) | |||
Net cash used in investing activities from discontinued operations | (11,468) | (2) | ||
Net cash used in investing activities | (11,468) | (6,486) | ||
Financing activities: | ||||
Proceeds from issuance of convertible notes | 20,007 | 113,236 | ||
Proceeds from short-term borrowings | 37,887 | 5,190 | 6,544 | 39,652 |
Proceeds from borrowings from related parties | 4,065 | |||
Repayment of long-term bank borrowings | (37,090) | |||
Net cash provided by financing activities from continuing operations | 37,887 | 5,190 | 30,616 | 115,798 |
Net cash provided by (used in) financing activities from discontinued operations | (1,307) | (14,197) | ||
Net cash provided by financing activities | 37,887 | 5,190 | 29,309 | 101,601 |
Effect of foreign exchange rate changes | 203 | 31 | 5,374 | 2,032 |
Net decrease in cash and cash equivalents and restricted cash | (1,777) | (243) | (16,374) | (12,514) |
Cash, cash equivalents and restricted cash at the beginning of the year | 2,878 | 394 | 19,252 | 31,766 |
Cash, cash equivalents and restricted cash at the end of the year | 1,101 | 151 | 2,878 | 19,252 |
Cash, cash equivalents and restricted cash from continuing operations at the end of the year | 360 | 49 | 563 | 1,362 |
Supplemental disclosure of cash flow information from continuing operations: | ||||
Interest paid, net of amounts capitalized | ||||
Income taxes paid | ||||
Supplemental schedule of non-cash investing and financing activities from continuing activities: | ||||
Asset acquisition settled by ordinary shares | (164,256) | |||
Payment of debt extinguishment cost by ordinary shares | (41,961) | |||
Convertible note converted into ordinary shares | (333,679) | |||
Short-term borrowings settled by ordinary shares | (217,477) | |||
Short-term borrowings settled by transfer of treasury stocks | (6,497) | |||
Less: Cash, cash equivalents and restricted cash from discontinued operations at the end of the year | ¥ (741) | $ (102) | ¥ (2,315) | ¥ (17,890) |
Organization and Principal Acti
Organization and Principal Activities | 12 Months Ended |
Sep. 30, 2023 | |
Organization and Principal Activities [Abstract] | |
ORGANIZATION AND PRINCIPAL ACTIVITIES | 1. ORGANIZATION AND PRINCIPAL ACTIVITIES FLJ Group Limited (formerly known as “Q&K International Group Limited”) (the “Company” or “FLJ”), its subsidiaries and consolidated variable interest entities (the “Group”) is a rental apartment operation platform in the People’s Republic of China (the “PRC”), that provides rental and value-added services to young, emerging urban residents since 2012. The Group sources and converts apartments to standardized furnished rooms and leases to young people seeking affordable residence in cities in the PRC. The Company has changed its corporate name from “Q&K International Group Limited” to “FLJ Group Limited”, effective on September 13, 2022. In addition, the Company began trading under the new ticker symbol “FLJ” on the NASDAQ effective on September 26, 2022. - Reverse ADS split and share subdivision Effective on March 7, 2022, the Group changed the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing thirty (30) Class A ordinary share to one (1) ADS representing one hundred and fifty (150) Class A ordinary shares. For the ADS holders, the change in the ADS ratio had the same effect as a one-for-five reverse ADS split for the period from March 7, 2022 through November 1, 2023. There will be no change to the Group’s Class A ordinary shares. The exchange of every five (5) then-held (old) ADSs for one (1) new ADS will occur automatically with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank, in each case as of the effective date for the ADS ratio change. No fractional new ADSs will be issued in connection with the change in the ADS ratio. Effective on September 18, 2023, the Board of Directors effected a share subdivision at a ratio of one-for-one hundredth (100) ordinary shares with a par value of US$0.00001 each in the Company’s issued and unissued share capital into one ordinary share with a par value of US$0.0000001. Immediately following the share subdivision, the authorized share capital of the Company of US$450,000 divided into 3,750,000,000,000 Class A Ordinary Shares, 250,000,000,000 Class B Ordinary Shares, and 500,000,000,000 Preferred Shares, each at a par value US$0.0000001. In the same time, The Group also increase its share capital from $450,000 into $1,000,000. The authorized share capital of the Company of US$1,000,000 divided into 8,500,000,000,000 Class A Ordinary Shares, 1,000,000,000,000 Class B Ordinary Shares, and 500,000,000,000 Preferred Shares, each at a par value US$0.0000001. The Company believes it is appropriate to reflect the share subdivision on a retroactive basis pursuant to ASC 260. The Company has retroactively restated all shares and per share data for all periods presented. Effective on November 2, 2023, the Group changed the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing one hundred and fifty (150) Class A ordinary shares to one (1) ADS representing fifteen thousand (15,000) Class A ordinary shares. The ADS reverse split corresponds with the share subdivision effected on September 18, 2023. For the ADS holders, the change in the ADS ratio will have the same effect a one-for-one-hundred reverse ADS split for the period from November 2, 2023 through December 6, 2023. There will be no change to the Group’s Class A ordinary shares. The exchange of every one hundred (100) then-held (old) ADSs for one (1) new ADS will occur automatically with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank, in each case as of the effective date for the ADS ratio change. No fractional new ADSs will be issued in connection with the change in the ADS ratio. Further effective on December 7, 2023, the Group changed the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing fifteen thousand (15,000) Class A ordinary shares to one (1) ADS representing six hundred thousand (600,000) Class A ordinary shares. For the ADS holders, the change in the ADS ratio will have the same effect a one-for-forty reverse ADS split since December 7, 2023. There will be no change to the Group’s Class A ordinary shares. The exchange of every forty (40) then-held (old) ADSs for one (1) new ADS will occur automatically with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank, in each case as of the effective date for the ADS ratio change. No fractional new ADSs will be issued in connection with the change in the ADS ratio. - Disposals of subsidiaries On October 26, 2021 and December 17, 2021, the Group transferred of all of its equity interest in Q&K Investment Consulting Co., Ltd. (“Q&K Investment Consulting”) and Qingke (China) Limited (“Q&K HK”), respectively, to Wangxiancai Limited, which is a related party of the Group, and is beneficially owned by the legal representative and executive director of one of the Group’s subsidiaries (the “First Equity Transfer”). The Equity Transfer was made at nominal consideration. As of September 30, 2022, the Group did not account for the transfer of equity interest in Q&K HK, Q&K Investment Consulting and Q&K E-commerce as a discontinued operation, as FLJ is the primary beneficiary of Q&K HK, Q&K Investment Consulting and Q&K E-commerce as FLJ has the power to direct the activities of these companies that most significantly impact their economic performance and FLJ has the obligation to absorb losses of these companies that could potentially be significant to these companies since their inception. The Group accounted for Q&K HK, Q&K Investment Consulting and Q&K E-commerce as variable interest entities. On October 31, 2023, the Group transferred of all of its equity interest in Haoju (Shanghai) Artificial Intelligence Technology Co., Ltd. (“Q&K AI”), to Wangxiancai Limited, at nominal consideration (the “Second Equity Transfer”). Upon deconsolidation of Q&K AI, the Group would no longer provide rental and value-added services in China. The management believed the closing of the Second Equity Transfer represented a strategic shift that had a major effect on the Company’s operations and financial results. The disposals of Q&K Investment Consulting, Q&K HK and Q&K AI are accounted as discontinued operations in accordance with ASC 205-20. - Acquisition of new business On December 28, 2023, the Group closed equity acquisition of Alpha Mind Technology Limited (“Alpha Mind”), which conducts insurance agency and insurance technology businesses in the PRC As of September 30, 2023, the Group’s significant subsidiaries was comprised of the following: Subsidiaries Date of Place of Percentage of Principal QK365.com INC. (BVI) September 29, 2014 BVI 100 % Holding Fenglinju (China) Hong Kong Limited (“Fenglinju”) October 21, 2021 Hong Kong 100 % Holding Shanghai Meileju Intelligence Technology Co., Ltd. (“Meileju”) June 24, 2021 PRC 100 % Holding |
Summary of Principal Accounting
Summary of Principal Accounting Policies | 12 Months Ended |
Sep. 30, 2023 | |
Summary of Principal Accounting Policies [Abstract] | |
SUMMARY OF PRINCIPAL ACCOUNTING POLICIES | 2. SUMMARY OF PRINCIPAL ACCOUNTING POLICIES Basis of presentation The accompanying consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying consolidated financial statements have been prepared assuming that the Group will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Group’s ability to generate cash flows from operations, and the Group’s ability to arrange adequate financing arrangements, to support its working capital requirements. Going concern The Group has been incurring losses from operations since its inception. Accumulated deficits amounted to RMB 3,558,667 and RMB 3,629,980 as of September 30, 2022 and 2023, respectively. Net cash used in operating activities from continuing operations were RMB 161,402, RMB 7,096 and RMB 24,320 for the years ended September 30, 2021, 2022 and 2023, respectively. As of September 30, 2022 and 2023, current liabilities exceeded current assets by RMB 597,242 and RMB 643,424, respectively. In addition, the Group disposed of its long-term rental apartment rental business in October 2023 and the Group had no revenues from its continuing operations for the years ended September 30, 2021, 2022 and 2023, respectively. These factors raise substantial doubt about the Group’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Group is unable to continue as a going concern. On December 28, 2023, the Group consummated an acquisition of 100% equity interest in Alpha Mind at consideration of US$180,000,000. The purchase price is payable in the form of promissory note (collectively, the “Notes”). The Notes have a maturity of 90 days from the closing date, an interest rate at an annual rate to 3% per annum and will be secured by all of the issued and outstanding equity of the Alpha Mind and all of the assets of the Alpha Mind, including its consolidated entities. The Group intends to meet the cash requirements for the next 12 months from the issuance date of this report through issuance of ordinary shares. On October 26, 2022, the Company’s Form F-3 to offer up to a total amount of $300 million was declared effective. The Company plans to raise funds under the Form F-3 to support the Company’s operations. There is a risk that Management plan cannot alleviate the substantial doubt of the Group’s ability to continue as a going concern. There can be no assurance that the Group will be successful in achieving its strategic plans, that the Group’s future capital raises will be sufficient to support its ongoing operations, or that any additional financing will be available in a timely manner or with acceptable terms, if at all. Should there be any unforeseen circumstances which may prevent the successful completion of the above mentioned plan in the next twelve months from the issuance of this report, the Group will be required to reduce certain discretionary spending, alter or scale back research and development programs, or be unable to fund capital expenditures, which would have a material adverse effect on the Group’s financial position, results of operations, cash flows, and ability to achieve its intended business objectives. One of the Group’s shareholder is committed to provide financial support up to $1 million to support the Group’s operations. Management assessed that this amount is sufficient to cover the Group’s reduced operation costs and meet its obligations. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the consolidated financial statements have been prepared on a basis that assumes the Group will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. Principles of consolidation The consolidated financial statements include the financial statements of the Group and its subsidiaries. All intercompany transactions and balances are eliminated on consolidation. Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The Group bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Significant accounting estimates reflected in the Group’s consolidated financial statements include valuation allowance of deferred tax assets and share-based compensation. Foreign currency translation The reporting currency of the Group is the Renminbi (“RMB”). The functional currency of the Group’s entities incorporated in Cayman Islands, the United States and Hong Kong is the United States dollar (“US dollar”) and the functional currency of the Group’s PRC subsidiaries is RMB. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing on the day transactions occurred. Transaction gains and losses are recognized in the consolidated statements of comprehensive (loss) income. The financial statements of the Group’s non PRC entities are translated from their respective functional currency into RMB. Assets and liabilities are translated into RMB at the exchange rates at the balance sheet date, equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income (loss) in the consolidated statements of comprehensive (loss) income. The financial records of the Group’s subsidiaries are maintained in local currencies, which are the functional currencies. Convenience translation The Group’s business is primarily conducted in the PRC and all of the revenues are denominated in RMB. The financial statements of the Group are stated in RMB. Translations of balances in the consolidated balance sheet, and the related consolidated statements of comprehensive (loss) income, shareholders’ deficits and cash flows from RMB into US dollars as of and for the year ended September 30, 2023 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB 7.2960, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on September 30, 2023, or at any other rate. Fair value The Group defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs may be used to measure fair value include: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Group’s financial instruments include cash and cash equivalents, other current assets, accounts payable, amounts due to related parties, short-term debt, and other current liabilities. Cash and cash equivalents Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use that which have original maturities of three months or less when purchased. Employee benefit expenses As stipulated by the regulations of the PRC, full-time employees of the Group are entitled to various government statutory employee benefit plans, including medical insurance, maternity insurance, workplace injury insurance, unemployment insurance and pension benefits through a PRC government-mandated multi-employer defined contribution plan. The Group is required to make contributions to the plan and accrues for these benefits based on certain percentages of the qualified employees’ salaries. The total expenses the Group incurred for the plan were RMB nil nil PRC value-added taxes and related taxes The Group is subject to value-added taxes at the rate of 6% for rendering services and 13% for sales of goods, education surtax and urban maintenance and construction tax, on the services provided in the PRC. Education surtax and urban maintenance and construction tax are primarily levied based on revenue at applicable rates and are recorded as a reduction of revenues. Income taxes Current income taxes are provided on the basis of profit before income tax for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. The Group follows the asset and liability method of accounting for income taxes. Deferred income taxes are provided using assets and liabilities method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such determination, the management considers all positive and negative evidence, including future reversals of projected future taxable income and results of recent operation. In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheet and under other expenses in its consolidated statement of comprehensive (loss) income. As of September 30, 2022 and 2023, the Group did not have any significant unrecognized uncertain tax positions. Share-based compensation The Group recognizes share-based compensation in the consolidated statements of comprehensive (loss) income based on the fair value of equity awards on the date of the grant, with compensation expenses recognized over the period in which the grantee is required to provide service to the Group in exchange for the equity award. Vesting of certain equity awards are based on the completion of initial public offering (“IPO”) and has a continued employment provision for a period of time following the grant date. The share-based compensation expenses have been categorized as either general and administrative expenses, research and development expenses or selling and marketing expenses, depending on the job functions of the grantees. For the years ended September 30, 2021, 2022 and 2023, the Group recognized share-based compensation expenses of RMB 15,806, RMB 9,771 and RMB 4,782, respectively, in the consolidated statements of comprehensive (loss) income. (Losses) earnings per share Basic (losses) earnings per share are computed by dividing net loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period. Diluted (loss) earnings per ordinary share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. Potential ordinary shares, including preferred shares, convertible notes, share options and warrants are excluded from the computation in income periods should their effects be anti-dilutive. The Group had share options, convertible notes and warrants, which could potentially dilute basic earnings per share in the future. To calculate the number of shares for diluted (loss) earnings per share, the effect of the convertible redeemable and non-redeemable preferred shares, share options and warrants is computed using the two-class method or the as-if converted method, whichever is more dilutive. Treasury shares The Group accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury shares account on the consolidated balance sheets. At retirement of the treasury shares, the ordinary shares account is charged only for the aggregate par value of the shares. The excess of the acquisition cost of treasury shares over the aggregate par value is allocated between additional paid-in capital (up to the amount credited to the additional paid-in capital upon original issuance of the shares) and retained earnings. For the year ended September 30, 2021, the Group issued 77,100,000 treasury shares and repurchase the same amount of treasury shares which were used as a pledge with Shanghai Huarui Bank (“SHRB”). For the year ended September 30, 2022, the Company reissued the 77,100,000 treasury shares to a third party which purchased and assumed the unpaid borrowings due to SHRB. As of September 30, 2022 and 2023, the Group had no Reclassification Certain reclassifications have been made to the prior year’s consolidated balance sheets to conform to the current year’s presentation. These reclassifications had no impact on net income/(loss), shareholders’ equity, or cash flows as previously reported. Discontinued operations In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. As of September 30, 2023, the Croup’s long-term apartment rental business long-term apartment rental business long-term apartment rental business Concentration of credit risk Financial instruments that potentially expose the Group to concentration of credit risk consist primarily of cash and cash equivalents. All of the Group’s cash and cash equivalents are held with financial institutions that Group management believes to be high credit quality. To limit exposure to credit risk relating to deposits, the Company primarily place cash and cash equivalent deposits with large financial institutions in the United States and the PRC which management believes are of high credit quality and the Company also continually monitors their credit worthiness. Segment reporting The Group uses management approach to determine operation segment. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making decisions, allocation of resource and assessing performance. The Group’s CODM has been identified as the Chief Executive Officer who reviews the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group. The Group operates and manages its business as a single operating segment. The Group’s long-lived assets are all located in the PRC and all of the Group’s revenues are derived from within the PRC. Therefore, no geographical segments are presented. Recent accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Group continues to evaluate the impact of ASU 2020-06 on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Group’s financial statements. |
Disposition of Long-Term Apartm
Disposition of Long-Term Apartment Rental Business | 12 Months Ended |
Sep. 30, 2023 | |
Disposition of Long-Term Apartment Rental Business [Abstract] | |
DISPOSITION OF LONG-TERM APARTMENT RENTAL BUSINESS | 3. DISPOSITION OF LONG-TERM APARTMENT RENTAL BUSINESS On October 31, 2023, the Group transferred of all of its equity interest in Haoju (Shanghai) Artificial Intelligence Technology Co., Ltd. (“Q&K AI”), to Wangxiancai Limited, at nominal consideration (the “Second Equity Transfer”). Upon the closing of the Second Equity Transfer, Wangxiancai Limited became the sole shareholder of the Group’s long-term apartment rental business and as a result, assumed all assets and obligations of Q&K AI, Q&K Investment Consulting and Q&K HK, and their subsidiaries, VIE and VIE’s subsidiaries. Upon the closing of the transaction, the Group does not bear any contractual commitment or obligation to the long-term apartment rental business. In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. The following is a reconciliation of the amounts of major classes of assets and liabilities classified as assets of discontinued operations and liabilities of discontinued operations in the consolidated balance sheets as of September 30, 2022 and 2023: As of September 30, 2022 2023 RMB RMB USD Current assets of discontinued operations Cash, cash equivalents and restricted cash 2,315 741 102 Accounts receivable, net 752 2,409 330 Amounts due from related parties — 286 39 Advances to suppliers 1,387 — — Other current assets 59,029 63,454 8,697 Property and equipment, net — 183 25 Other assets — 9,590 1,315 Total current assets of discontinued operations 63,483 76,663 10,508 Non-current assets of discontinued operations: Property and equipment, net 500 — — Intangible assets, net 13,475 — — Other assets 10,405 — — Total non-current assets of discontinued operations 24,380 — — Liabilities of discontinued operations: Accounts payable 122,667 157,613 21,603 Amounts due to related parties 765 951 130 Deferred revenue 129,930 99,230 13,601 Short-term debt 103,553 103,552 14,193 Rental instalment loans 15,756 15,756 2,160 Deposits from tenants 38,439 29,723 4,074 Accrued expenses and other current liabilities 78,194 101,501 13,911 Total liabilities of discontinued operations 489,304 508,326 69,672 The following is a reconciliation of the amounts of major classes of income from operations classified as discontinued operations in the consolidated statements of comprehensive (loss) income for the years ended September 30, 2021, 2022 and 2023: For the years ended September 30, 2021 2022 2023 RMB RMB RMB USD Net revenues 1,036,206 652,333 227,687 31,207 Operating costs: (949,654 ) (711,003 ) (242,097 ) (33,182 ) Selling and marketing expenses (13,108 ) (1 ) (3 ) (1 ) General and administrative expenses (189,580 ) (32,840 ) (19,737 ) (2,704 ) Research and development expenses (7,960 ) (2,773 ) (2,398 ) (329 ) Impairment loss on long-lived assets (199,575 ) (100,156 ) (10,474 ) (1,436 ) Other (expenses) income, net (18,476 ) (8,104 ) 2,984 409 Loss from disposal of property and equipment and intangible assets (30,173 ) (11,972 ) — — Interest (expenses) income, net (24,071 ) (24,847 ) 24 4 Debt extinguishment loss (41,961 ) — — — Foreign exchange loss, net (247 ) — — — Gains from deconsolidation of VIE’s subsidiaries — 1,554,450 — — Income tax expense (31 ) (21 ) — — Net (loss) income from discontinued operations (438,630 ) 1,315,066 (44,014 ) (6,032 ) Less: Net loss from discontinued operations attributable to noncontrolling interests (28 ) (43 ) — — Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders (438,602 ) 1,315,109 (44,014 ) (6,032 ) |
Short -Term Debt
Short -Term Debt | 12 Months Ended |
Sep. 30, 2023 | |
Short-Term Debt [Abstract] | |
SHORT-TERM DEBT | 4. SHORT-TERM DEBT The short-term debt was as follows: As of September 30, 2022 2023 Short-term debt 6,544 44,432 For the years ended September 30, 2022 and 2023, the Group entered into loan agreements with certain third party entities, pursuant to which the Group borrowed $920 and $5,190, respectively. The loans bear interest rate of 3.85% per annum and were matured through July 2024. |
Asset Acquisition
Asset Acquisition | 12 Months Ended |
Sep. 30, 2023 | |
Asset Acquisition [Abstract] | |
ASSET ACQUISITION | 5. ASSET ACQUISITION On July 22, 2020, the Group entered into a series of asset purchase agreements with Great Alliance Coliving Limited. and its affiliates (“Beautiful House” or the “Sellers”) to acquire assets, including approximately 72,000 apartment rental contracts with leasehold improvements attached toit, and trademarks of Beautiful House. In addition, the Group also assumed liabilities of RMB 349,665 associated with acquired assets. The consideration was comprised of cash of $29,000 (approximately RMB 205,306) and 12,858,939,200 shares of the Group’s Class A ordinary shares (after giving effects to share subdivision in September 2023) with total value of $42,673 (approximately RMB 289,733), reflecting discount for lack of marketability. The number of shares to be issued is determined based on the total share consideration amount agreed and average closing price of the Group’s ADS of 90 days prior to the execution of the asset purchase agreements. The shares are payable in three instalments of 30%, 40% and 30% with lockup periods expiring on June 30, 2021, 2022 and 2023, respectively. As of September 30, 2020, the Group made a cash payment of $5,800 (equivalent of RMB39,498). There were no material direct transaction costs related to the transaction. The remaining cash consideration payable of $23,200 (equivalent of RMB 165,808) and share consideration of RMB289,733 were recorded in the account of “Payable for asset acquisition” and “additional paid-in capital”, respectively. The Group accounted for the acquisition as an asset acquisition because the Group did not acquire substantive process from Beautiful House. On the date of asset acquisition, the Group determined the estimated fair values using Level 3 inputs after review and consideration of relevant information, including contract value of apartment rental agreements and estimates made by management. The apartment rental agreements with both landlords and tenants were valued using the multiperiod excess earnings method and the trademarks were valued using the relief from royalty method. The fair value of apartment rental agreements and trademarks was RMB 289,591 and RMB 86,900, respectively. The total consideration of RMB 495,039, after deducting the liabilities of RMB 349,665 assumed in the asset acquisition, was allocated to identify assets on the basis of their relative fair value. The allocation is as follows: RMB Apartment rental agreements 649,733 Trademarks 194,971 Liabilities assumed by the Group (349,665 ) 495,039 In May 2021, the Group entered into an agreement to settle the outstanding payables with the Sellers, pursuant to the agreement, the Group delivered 18,637,585,000 ordinary shares (after giving effects to share subdivision in September 2023) to settle both cash consideration payable and share consideration payable. The Sellers are entitled to trade the ordinary shares in open market. In addition, among the 18,637,585,000 shares delivered, 5,778,645,800 ordinary shares will oblige the Group to make up the shortfall if the cash collected by the Sellers are lower than $0.004014 per share (after giving effects to share subdivision in September 2023). Additionally, 2,086,074,900 of the 5,778,645,800 ordinary shares are redeemable at a per share price of $0.004015 if the Sellers do not trade in open market (after giving effects to share subdivision in September 2023). The 5,778,645,800 ordinary shares (after giving effects to share subdivision in September 2023)are subject to a make-whole cash-settled provision, and 2,086,074,900 ordinary shares (after giving effects to share subdivision in September 2023) of which are also subject to redemption. The Group assessed the redemption terms and assessed it is probable that the Group will redeem these ordinary shares. The 5,778,645,800 ordinary shares (after giving effects to share subdivision in September 2023) fall in the classification of a liability. As of September 30, 2022 and 2023, the Group recorded the liabilities of RMB 165,033 and RMB 169,267 in the account of “Contingent liabilities for payable for asset acquisition”. The change in the balance as of September 30, 2022 and 2023 arose from change in foreign exchange rates. |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Sep. 30, 2023 | |
Accrued Expenses and Other Current Liabilities[Abstract] | |
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | 6. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: As of September 30, 2022 2023 Accrued interest expenses 3,456 2,375 3,456 2,375 |
Share Based Compensation
Share Based Compensation | 12 Months Ended |
Sep. 30, 2023 | |
Share Based Compensation [Abstract] | |
SHARE BASED COMPENSATION | 7. SHARE BASED COMPENSATION The Group utilized Yijia Inc., a company controlled by the Founder as a vehicle to hold shares that will be used to provide incentives and rewards to employees and executives who contribute to the success of the Group’s operations. According to the Group’s board resolutions, in July 2017 and March 2018, 86 million shares were reserved to Yijia Inc. Yijia Inc. has no activities other than administrating the incentive program and does not have any employees. On behalf of the Group and subject to approvals from the board or directors, the Founder has the authority to select eligible participants to whom equity awards will be granted; determine the number of shares covered; and establish the terms, conditions and provision of such awards. The board resolutions allow the grantees to hold options to purchase from the Yijia Inc. the equity shares of the Group. As of June 24, 2022, Yijia Inc. held 7.52 billion Class B ordinary shares (after giving effects to share subdivision in September 2023). On June 24, 2022, Yijia Inc. transferred all reserved ordinary shares to Golden Stream Limited, a company controlled by Mr. Qu Chengcai, the Chief Executive Officer of the Group. Upon transfer, the Class B ordinary shares previously held by Yijia Inc. were automatically converted to Class A ordinary shares pursuant to the Company’s third amended and restated memorandum and articles of association. Since then, Golden Stream Limited became a vehicle to hold shares that will be used to provide incentives and rewards to employees and executives who contribute to the success of the Group’s operations. The board resolutions allow the grantees to hold options to purchase from the Golden Stream Limited the equity shares of the Group. All the share information disclosed under Stock Option A and Stock Option B in this section refers to the shares of the Group the grantees are entitled through Yijia Inc. shares before June 24, 2022 and through Golden Stream Limited after June 24, 2022. The related expenses are reflected in the Group’s consolidated financial statements as share-based compensation expenses with an offset to additional paid-in capital. Given the shares owned by Yijia Inc./ Golden Stream Limited for the purpose of the incentive program are existing and outstanding shares of the Group, the options do not have any dilution effect on the (loss) earnings per share (see Note 8). Stock Option A On August 31, 2014, April 21, 2016, October 17, 2016 and October 18, 2016, the Group granted an aggregate number of 26.86 million share options to certain management, employees and non-employees of the Group. Under the plan, the exercise price was US$0.0031 (RMB0.02) per share (after giving effects to share subdivision in September 2023) and vests 50% on the first and second anniversary after the IPO date. All grantees were restricted from transferring more than 25% of their total exercised ordinary shares each year after the exercise date. Given the vesting was contingent on the IPO and vested on the first and second anniversary after the IPO date, no share-based compensation expense is recognized until the date of IPO. For the year ended September 30, 2021, no share options were vested or exercised. As of September 30, 2022 and 2023, the number of outstanding options is 1,025,000,000 and 1,025,000,000 (after giving effects to share subdivision in September 2023), respectively, which was equal to the number of option expected to be vested. The remaining Stock Options A are exercisable into 1,025,000,000 Class B ordinary shares (after giving effects to share subdivision in September 2023). Because the exercise price is out of money, the weighted average intrinsic value of the outstanding options and the options expected to vest was RMB nil Stock Option B On July 31, 2017, the Group granted 43.14 million share options to management and employees of the Group. The options vested immediately upon the grant date and the exercise price were US$0.0031 (RMB0.02) per share (after giving effects to share subdivision in September 2023). All grantees were restricted from transferring its exercised ordinary shares during certain periods subsequent to the IPO date (the “lock-up period”). If the grantee resigned from the Group before the IPO or during the lock-up period, the Group has the right to repurchase the share options or ordinary shares at the exercise price. The Group believes that the repurchase feature is effectively to require the employee to remain throughout the requisite period in order to receive any economic benefit from the award. As such, the repurchase feature functions as a vesting condition that is contingent on the IPO, no nil Binomial options pricing model was applied in determining the estimated fair value of the options granted. The model requires the input of highly subjective assumptions including the estimated expected stock price volatility and, the exercise multiple for which employees are likely to exercise share options. The estimated fair value of the ordinary shares, at the option grants, was determined with assistance from an independent third party valuation firm. The Group’s management is ultimately responsible for the determination of the estimated fair value of its ordinary shares. The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented: April 2016 October 2016 July 2017 Risk-free rate of return 3.18 % 3.18 % 3.21 % Contractual life of option 10 years 10 years 8.4 years Estimated volatility rate 37 % 37 % 35 % Expected dividend yield 0 % 0 % 0 % Fair value of underlying ordinary shares* US$ 0.0003 US$ 0.0004 US$ 0.0005 * after giving effects to share subdivision in September 2023 2019 Share Incentive Plan The 2019 Share Incentive Plan became effective immediately upon the completion of our initial public offering. The maximum number of shares that may be issued under the 2019 Plan is 10% of the total outstanding shares as of the date of the consummation of our initial public offering. In June 2022, the Group issued 7.2 billion stock options with nil In June 2022, the Group issued 5.036 billion stock options with nil 2022 Share Incentive Plan On November 18, 2022, the board of directors has approved and adopted a new share incentive plan (the “2022 Plan”). The maximum number of shares available for issuance under the 2022 Plan is 250,000,000,000 Class B ordinary shares (after giving effects to share subdivision in September 2023) of the Company. In respect of matters requiring the votes of shareholders, holders of Class A ordinary shares are entitled to one vote per share, while holders of Class B ordinary shares are entitled to ten votes per share based on our dual class share structure. Each Class B ordinary share is convertible into one (1) Class A ordinary share at any time by the holder thereof, while Class A ordinary shares are not convertible into Class B ordinary shares under any circumstances. Upon any transfer of Class B ordinary shares by a holder thereof to any person or entity which is not an affiliate of such holder, such Class B ordinary shares shall be automatically and immediately converted into the equal number of Class A ordinary shares. The board of directors has also approved the issuance of the Shares to an ESOP Platform, which is holding these Shares (representing 8.8% of the total outstanding share capital and 49.1% of the voting power of the Company) and will act upon the instructions from a senior management committee of the Company determined on a unanimous basis in relation to the voting and, prior to the vesting of the Shares to the relevant grantee of the share-based awards under the 2022 Plan, the disposition of the Shares. The Shares held by the ESOP Platform are reserved for share-based awards that the Company may grant in the future under the 2022 Plan. As of the date of this report, 250,000,000,000 Class B ordinary shares (after giving effects to share subdivision in September 2023) were reserved to 2022 Plan and no Class B ordinary shares have been issued under the 2022 Plan. A summary of option activity during the years ended September 30, 2022 and 2023 is presented below: Number of Exercise Remaining Outstanding, as of September 30, 2021 3,420,000,000 0.02 4.96 Granted 12,236,010,800 — 10.00 Exercised (11,518,005,400 ) — 10.00 Forfeited (10,000,000 ) 0.02 4.83 Outstanding, as of September 30, 2022 and 2023 4,128,005,400 0.02 4.44 Vested and exercisable as of September 30, 2023 3,410,000,000 0.02 3.96 Vested or expected to vest as of September 30, 2023 4,128,005,400 0.02 4.44 The Group recognized the compensation cost for the stock options on a straight line basis over the requisite service periods. For the years ended September 30, 2021, 2022 and 2023, the Group recorded compensation expenses of RMB 1,236 and RMB 9,771 and RMB 4,782 in connection with the above stock options. As of September 30, 2023, the Group had no unrecognized compensation expenses for stock options. Restricted shares units Under 2019 Share Incentive Plan, in March 2021, the Group also issued 2,500,000,000 restricted share units (“RSU”) (after giving effects to share subdivision in September 2023) to a consulting company for the service provided. All of the RSU were vested immediately upon grant. The Group recorded RSU at the measurement date fair value per share of US$0.0009 by reference to the share price in the open market on grant date. For the years ended 2021, 2022 and 2023, the Group recorded compensation expenses of RMB 14,570, RMB nil nil As of September 30, 2023, the Group had no For the years ended September 30, 2021, 2022 and 2023, the total share-based compensation expenses were comprised of the following: For the years ended September 30, 2021 2022 2023 Selling and marketing expenses 7 12 — General and administrative expenses 15,991 9,737 4,782 Research and development expenses (192 ) 22 — 15,806 9,771 4,782 |
Loss Per Share
Loss Per Share | 12 Months Ended |
Sep. 30, 2023 | |
Loss Per Share [Abstract] | |
LOSS PER SHARE | 8. LOSS PER SHARE The following table sets forth the computation of basic and diluted earnings per share for the years indicated: For the years ended September 30, 2021 2022 2023 RMB RMB RMB USD Numerator: Net (loss) income attributable to FLJ Group Limited’s ordinary shareholders (569,174 ) 820,023 (71,313 ) (9,774 ) Net loss from continuing operations attributable to FLJ Group Limited’s ordinary shareholders (130,572 ) (495,086 ) (27,299 ) (3,742 ) Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders (438,602 ) 1,315,109 (44,014 ) (6,032 ) Denominator: Weighted average number of ordinary shares used in computing net loss per share—Basic and diluted 146,069,290,900 1,025,842,445,700 2,805,073,364,600 2,805,073,364,600 Net (loss) earnings per share attributable to ordinary shareholders of FLJ Group (0.00 ) 0.00 (0.00 ) (0.00 ) Net loss per share from continuing operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (0.00 ) (0.00 ) (0.00 ) (0.00 ) Net (loss) earnings from per share discontinued operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (0.00 ) 0.00 (0.00 ) (0.00 ) For the years ended September 30, 2022 and 2023, weighted average ordinary shares included nil 718,00,5400 nil For the years ended September 30, 2021, 2022 and 2023, potential ordinary shares from assumed conversion of 745,244,500, 0 and 0 convertible notes as well as 3,420,000,000, 3,769,002,700 and 3,410,000,000 options have not been reflected in the calculation of diluted net loss per share as their inclusion would have been anti-dilutive. |
Income Taxes
Income Taxes | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 9. INCOME TAXES Cayman Islands Under the current laws of the Cayman Islands, the Company, FLJ Group Limited is not subject to tax on income or capital gain. BVI Islands Under the current laws of the British Virgin Islands (“BVI”), QK365.com Inc. is incorporated in BVI is not subject to tax on income or capital gain. PRC Under the Law of the People’s Republic of China on Enterprise Income Tax (“EIT Law”), which was effective from January 1, 2008, domestically-owned enterprises and foreign-invested enterprises are subject to a uniform tax rate of 25%. For the years ended September 30, 2021, 2022 and 2023, the Group did not incur income tax expenses from its continuing operations. A reconciliation between the effective income tax rate and the PRC statutory income tax rate are as follows: For the years ended September 30, 2021 2022 2023 PRC statutory tax rate 25.0 % 25.0 % 25.0 % Effect of different tax rates of group entities operating in other jurisdictions and preferential tax rates of group entities (25.0 )% (25.0 )% (23.1 )% Effect of change in valuation allowance 0.0 % 0.0 % (2.0 )% 0.0 % 0.0 % 0.0 % The principal components of the Group’s deferred income tax assets as of September 30, 2022 and 2023 are as follows: As of September 30, 2022 2023 Deferred tax assets: Net losses carry forwards — 548 Valuation allowance — (548 ) — — Movement of the valuation allowance is as follows: Balance as of September 30, 2022 — Addition 548 Write off (548 ) Balance as of September 30, 2023 — The write down of the valuation allowance is related to a reduction of the deferred tax asset for net operating losses from to the realizable amount based on prior tax filings and deconsolidation entities. The Group considers positive and negative evidence to determine whether some portion or all of the deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carryforward periods, the Group’s experience with tax attributes expiring unused and tax planning alternatives. Valuation allowances have been established for deferred tax assets based on a more likely than not threshold. The Group’s ability to realize deferred tax assets depends on its ability to generate sufficient taxable income within the carryforward periods provided for in the tax law. As of September 30, 2023, the Group had tax loss carryforwards of RMB 2,192, all of which nil According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of income taxes is due to computational errors made by the taxpayer. The statute of limitations will be extended to five years under special circumstances, which are not clearly defined, but an underpayment of income tax liability exceeding RMB100 is specifically listed as a special circumstance. In the case of a transfer pricing related adjustment, the statute of limitations is ten years. There is no In accordance with the EIT Law, dividends, which arise from profits of foreign invested enterprises (“FIEs”) earned after January 1, 2008, are subject to a 10% withholding income tax. In addition, under tax treaty between the PRC and Hong Kong, if the foreign investor is incorporated in Hong Kong and qualifies as the beneficial owner, the applicable withholding tax rate is reduced to 5%, if the investor holds at least 25% in the FIE, or 10%, if the investor holds less than 25% in the FIE. A deferred tax liability should be recognized for the undistributed profits of PRC subsidiaries unless the Group has sufficient evidence to demonstrate that the undistributed dividends will be reinvested and the remittance of the dividends will be postponed indefinitely. The Group plans to indefinitely reinvest undistributed profits earned from its China subsidiaries in its operations in the PRC. Therefore, no Under applicable accounting principles, a deferred tax liability should be recorded for taxable temporary differences attributable to the excess of financial reporting basis over tax basis in a domestic subsidiary. |
Statutory Reserves and Net Rest
Statutory Reserves and Net Restricted Assets | 12 Months Ended |
Sep. 30, 2023 | |
Statutory Reserves and Net Restricted Assets [Abstract] | |
STATUTORY RESERVES AND NET RESTRICTED ASSETS | 10. STATUTORY RESERVES AND NET RESTRICTED ASSETS The Group’s ability to pay dividends is primarily dependent on the Group receiving distributions of funds from its subsidiaries. Relevant PRC statutory laws and regulations permit payments of dividends by the subsidiary incorporated in PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The consolidated results of operations reflected in the consolidated financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Group’s subsidiaries. Under PRC law, the Group’s subsidiary located in the PRC (“PRC subsidiary”) are required to provide for certain statutory reserves, namely a general reserve, an enterprise expansion fund and a staff welfare and bonus fund. The PRC subsidiary is required to allocate at least 10% of their after tax profits on an individual company basis as determined under PRC accounting standards to the statutory reserve and has the right to discontinue allocations to the statutory reserve if such reserve has reached 50% of registered capital on an individual company basis. In addition, the registered capital of the PRC subsidiary is also restricted. Amounts restricted including paid-in capital and statutory reserve funds as determined pursuant to PRC Laws were RMB 10,000 and RMB nil |
Related Party Transactions and
Related Party Transactions and Balances | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions and Balances [Abstract] | |
RELATED PARTY TRANSACTIONS AND BALANCES | 11. RELATED PARTY TRANSACTIONS AND BALANCES Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. The following entities are considered to be related parties to the Group. The related parties mainly act as service providers and service recipients to the Group. The Group is not obligated to provide any type of financial support to these related parties. Related Party Relationship with the Group Wangxiancai Limited An entity controlled by the legal representative and executive director of one of the former subsidiaries. The subsidiary was disposed of on October 31, 2023 and Wangxiancai Limited was no longer a related party of the Group since then Key Space (S) Pte Ltd (“Key Space”) An entity controlled by certain shareholders of the Group Mr. Qu Chengcai Chief Executive Officer Mr. Sun Zhichen Chief Financial Officer - Transactions with related parties As stated in Note 1, on October 26, 2021, December 17, 2021 and October 31, 2023, the Group transferred the equity interest in the Q&K Investment Consulting, Q&K HK and Q&K AI, respectively, to Wangxiancai Limited for nominal consideration. As stated in Note 8, the Group issued 72 million and 43.18 million stock options to Mr. Qu and Mr. Sun, respectively. (See Note 8 - Share based compensation - Balances with related parties As of September 30, 2022 and 2023, amounts due to related parties were RMB 4,065 and RMB 4,495, respectively. The balance due to related parties represented borrowings from Key Space which were due within 12 months from borrowing. Details are as follows: As of September 30, 2022 2023 Key Space 4,065 4,495 4,065 4,495 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2023 | |
Commitments and Contingencies [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 12. COMMITMENTS AND CONTINGENCIES The Group is subject to periodic legal or administrative proceedings in the ordinary course of business. The Group does not believe that any currently pending legal or administrative proceeding to which the Group is a party will have a material effect on its business or financial condition. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | 13. SUBSEQUENT EVENTS On September 29, 2023, the Group entered into an equity acquisition agreement with certain shareholders of Lianlian to acquire 95% of Lianlian’s issued and outstanding shares. Lianlian is an online lifestyle service provider providing comprehensive marketing and promotion services to restaurants, hotels and other leisure and entertainment merchants, helping them achieve cost-effective operations. On December 28, 2023, the Group terminated the equity acquisition agreement Lianlian and certain of the Lianlian’s shareholders. On October 31, 2023, the Company entered into an equity transfer agreement to sell all of our equity interest in Q&K AI to Wangxiancai Limited for nominal consideration. Q&K AI holds substantially all of the equity interest of our subsidiaries in the PRC, through which the Company carried out long-term rental apartment rental business (the “Disposed Business”). The Disposed Business contributed substantially all revenue and held substantially all of the Company’s assets. Upon the consummation of the Disposal on October 31, 2023, the Company became a shell company as defined in Rule 12b-2 under the Exchange Act. On December 28, 2023, the Company completed the acquisition of 100% of the issued and outstanding shares of Alpha Mind Technology Limited (“Alpha Mind”), at a total consideration of $180,000,000 in the form of notes payable (“Acquisition”). In February 2024, the Company and the sellers of Alpha Mind agreed to extend the maturity date of the Notes to June 30, 2024. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Pay vs Performance Disclosure | |||
Net Income (Loss) | ¥ (71,313) | ¥ 819,980 | ¥ (569,202) |
Insider Trading Arrangements
Insider Trading Arrangements | 12 Months Ended |
Sep. 30, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Sep. 30, 2023 | |
Summary of Principal Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying consolidated financial statements of the Group have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”). The accompanying consolidated financial statements have been prepared assuming that the Group will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Group’s ability to generate cash flows from operations, and the Group’s ability to arrange adequate financing arrangements, to support its working capital requirements. |
Going concern | Going concern The Group has been incurring losses from operations since its inception. Accumulated deficits amounted to RMB 3,558,667 and RMB 3,629,980 as of September 30, 2022 and 2023, respectively. Net cash used in operating activities from continuing operations were RMB 161,402, RMB 7,096 and RMB 24,320 for the years ended September 30, 2021, 2022 and 2023, respectively. As of September 30, 2022 and 2023, current liabilities exceeded current assets by RMB 597,242 and RMB 643,424, respectively. In addition, the Group disposed of its long-term rental apartment rental business in October 2023 and the Group had no revenues from its continuing operations for the years ended September 30, 2021, 2022 and 2023, respectively. These factors raise substantial doubt about the Group’s ability to continue as a going concern. The financial statements do not include any adjustments that might be necessary if the Group is unable to continue as a going concern. On December 28, 2023, the Group consummated an acquisition of 100% equity interest in Alpha Mind at consideration of US$180,000,000. The purchase price is payable in the form of promissory note (collectively, the “Notes”). The Notes have a maturity of 90 days from the closing date, an interest rate at an annual rate to 3% per annum and will be secured by all of the issued and outstanding equity of the Alpha Mind and all of the assets of the Alpha Mind, including its consolidated entities. The Group intends to meet the cash requirements for the next 12 months from the issuance date of this report through issuance of ordinary shares. On October 26, 2022, the Company’s Form F-3 to offer up to a total amount of $300 million was declared effective. The Company plans to raise funds under the Form F-3 to support the Company’s operations. There is a risk that Management plan cannot alleviate the substantial doubt of the Group’s ability to continue as a going concern. There can be no assurance that the Group will be successful in achieving its strategic plans, that the Group’s future capital raises will be sufficient to support its ongoing operations, or that any additional financing will be available in a timely manner or with acceptable terms, if at all. Should there be any unforeseen circumstances which may prevent the successful completion of the above mentioned plan in the next twelve months from the issuance of this report, the Group will be required to reduce certain discretionary spending, alter or scale back research and development programs, or be unable to fund capital expenditures, which would have a material adverse effect on the Group’s financial position, results of operations, cash flows, and ability to achieve its intended business objectives. One of the Group’s shareholder is committed to provide financial support up to $1 million to support the Group’s operations. Management assessed that this amount is sufficient to cover the Group’s reduced operation costs and meet its obligations. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the consolidated financial statements have been prepared on a basis that assumes the Group will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. |
Principles of consolidation | Principles of consolidation The consolidated financial statements include the financial statements of the Group and its subsidiaries. All intercompany transactions and balances are eliminated on consolidation. |
Use of estimates | Use of estimates The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. The Group bases its estimates on historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Significant accounting estimates reflected in the Group’s consolidated financial statements include valuation allowance of deferred tax assets and share-based compensation. |
Foreign currency translation | Foreign currency translation The reporting currency of the Group is the Renminbi (“RMB”). The functional currency of the Group’s entities incorporated in Cayman Islands, the United States and Hong Kong is the United States dollar (“US dollar”) and the functional currency of the Group’s PRC subsidiaries is RMB. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into functional currency at the rates of exchange ruling at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing on the day transactions occurred. Transaction gains and losses are recognized in the consolidated statements of comprehensive (loss) income. The financial statements of the Group’s non PRC entities are translated from their respective functional currency into RMB. Assets and liabilities are translated into RMB at the exchange rates at the balance sheet date, equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive income (loss) in the consolidated statements of comprehensive (loss) income. The financial records of the Group’s subsidiaries are maintained in local currencies, which are the functional currencies. |
Convenience translation | Convenience translation The Group’s business is primarily conducted in the PRC and all of the revenues are denominated in RMB. The financial statements of the Group are stated in RMB. Translations of balances in the consolidated balance sheet, and the related consolidated statements of comprehensive (loss) income, shareholders’ deficits and cash flows from RMB into US dollars as of and for the year ended September 30, 2023 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB 7.2960, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on September 30, 2023, or at any other rate. |
Fair value | Fair value The Group defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The established fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs may be used to measure fair value include: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Group’s financial instruments include cash and cash equivalents, other current assets, accounts payable, amounts due to related parties, short-term debt, and other current liabilities. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash on hand and demand deposits, which are unrestricted as to withdrawal and use that which have original maturities of three months or less when purchased. |
Employee benefit expenses | Employee benefit expenses As stipulated by the regulations of the PRC, full-time employees of the Group are entitled to various government statutory employee benefit plans, including medical insurance, maternity insurance, workplace injury insurance, unemployment insurance and pension benefits through a PRC government-mandated multi-employer defined contribution plan. The Group is required to make contributions to the plan and accrues for these benefits based on certain percentages of the qualified employees’ salaries. The total expenses the Group incurred for the plan were RMB nil nil |
PRC value-added taxes and related taxes | PRC value-added taxes and related taxes The Group is subject to value-added taxes at the rate of 6% for rendering services and 13% for sales of goods, education surtax and urban maintenance and construction tax, on the services provided in the PRC. Education surtax and urban maintenance and construction tax are primarily levied based on revenue at applicable rates and are recorded as a reduction of revenues. |
Income taxes | Income taxes Current income taxes are provided on the basis of profit before income tax for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. The Group follows the asset and liability method of accounting for income taxes. Deferred income taxes are provided using assets and liabilities method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are recognized to the extent that these assets are more likely than not to be realized. In making such determination, the management considers all positive and negative evidence, including future reversals of projected future taxable income and results of recent operation. In order to assess uncertain tax positions, the Group applies a more likely than not threshold and a two-step approach for the tax position measurement and financial statement recognition. Under the two-step approach, the first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon settlement. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheet and under other expenses in its consolidated statement of comprehensive (loss) income. As of September 30, 2022 and 2023, the Group did not have any significant unrecognized uncertain tax positions. |
Share-based compensation | Share-based compensation The Group recognizes share-based compensation in the consolidated statements of comprehensive (loss) income based on the fair value of equity awards on the date of the grant, with compensation expenses recognized over the period in which the grantee is required to provide service to the Group in exchange for the equity award. Vesting of certain equity awards are based on the completion of initial public offering (“IPO”) and has a continued employment provision for a period of time following the grant date. The share-based compensation expenses have been categorized as either general and administrative expenses, research and development expenses or selling and marketing expenses, depending on the job functions of the grantees. For the years ended September 30, 2021, 2022 and 2023, the Group recognized share-based compensation expenses of RMB 15,806, RMB 9,771 and RMB 4,782, respectively, in the consolidated statements of comprehensive (loss) income. |
(Losses) earnings per share | (Losses) earnings per share Basic (losses) earnings per share are computed by dividing net loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the period. Diluted (loss) earnings per ordinary share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. Potential ordinary shares, including preferred shares, convertible notes, share options and warrants are excluded from the computation in income periods should their effects be anti-dilutive. The Group had share options, convertible notes and warrants, which could potentially dilute basic earnings per share in the future. To calculate the number of shares for diluted (loss) earnings per share, the effect of the convertible redeemable and non-redeemable preferred shares, share options and warrants is computed using the two-class method or the as-if converted method, whichever is more dilutive. |
Treasury shares | Treasury shares The Group accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury shares account on the consolidated balance sheets. At retirement of the treasury shares, the ordinary shares account is charged only for the aggregate par value of the shares. The excess of the acquisition cost of treasury shares over the aggregate par value is allocated between additional paid-in capital (up to the amount credited to the additional paid-in capital upon original issuance of the shares) and retained earnings. For the year ended September 30, 2021, the Group issued 77,100,000 treasury shares and repurchase the same amount of treasury shares which were used as a pledge with Shanghai Huarui Bank (“SHRB”). For the year ended September 30, 2022, the Company reissued the 77,100,000 treasury shares to a third party which purchased and assumed the unpaid borrowings due to SHRB. As of September 30, 2022 and 2023, the Group had no |
Reclassification | Reclassification Certain reclassifications have been made to the prior year’s consolidated balance sheets to conform to the current year’s presentation. These reclassifications had no impact on net income/(loss), shareholders’ equity, or cash flows as previously reported. |
Discontinued operations | Discontinued operations In accordance with ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, a disposal of a component of an entity or a group of components of an entity is required to be reported as discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when the components of an entity meets the criteria in paragraph 205-20-45-1E to be classified as held for sale. When all of the criteria to be classified as held for sale are met, including management, having the authority to approve the action, commits to a plan to sell the entity, the major current assets, other assets, current liabilities, and noncurrent liabilities shall be reported as components of total assets and liabilities separate from those balances of the continuing operations. At the same time, the results of all discontinued operations, less applicable income taxes (benefit), shall be reported as components of net income (loss) separate from the net income (loss) of continuing operations in accordance with ASC 205-20-45. As of September 30, 2023, the Croup’s long-term apartment rental business long-term apartment rental business long-term apartment rental business |
Concentration of credit risk | Concentration of credit risk Financial instruments that potentially expose the Group to concentration of credit risk consist primarily of cash and cash equivalents. All of the Group’s cash and cash equivalents are held with financial institutions that Group management believes to be high credit quality. To limit exposure to credit risk relating to deposits, the Company primarily place cash and cash equivalent deposits with large financial institutions in the United States and the PRC which management believes are of high credit quality and the Company also continually monitors their credit worthiness. |
Segment reporting | Segment reporting The Group uses management approach to determine operation segment. The management approach considers the internal organization and reporting used by the Group’s chief operating decision maker (“CODM”) for making decisions, allocation of resource and assessing performance. The Group’s CODM has been identified as the Chief Executive Officer who reviews the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group. The Group operates and manages its business as a single operating segment. The Group’s long-lived assets are all located in the PRC and all of the Group’s revenues are derived from within the PRC. Therefore, no geographical segments are presented. |
Recent accounting pronouncements | Recent accounting pronouncements In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies accounting for convertible instruments by removing major separation models required under current GAAP. The ASU also removes certain settlement conditions that are required for equity-linked contracts to qualify for scope exception, and it simplifies the diluted earnings per share calculation in certain areas. The Group continues to evaluate the impact of ASU 2020-06 on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Group’s financial statements. |
Organization and Principal Ac_2
Organization and Principal Activities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Organization and Principal Activities [Abstract] | |
Schedule of Significant Subsidiaries | As of September 30, 2023, the Group’s significant subsidiaries was comprised of the following: Subsidiaries Date of Place of Percentage of Principal QK365.com INC. (BVI) September 29, 2014 BVI 100 % Holding Fenglinju (China) Hong Kong Limited (“Fenglinju”) October 21, 2021 Hong Kong 100 % Holding Shanghai Meileju Intelligence Technology Co., Ltd. (“Meileju”) June 24, 2021 PRC 100 % Holding |
Disposition of Long-Term Apar_2
Disposition of Long-Term Apartment Rental Business (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Disposition of Long-Term Apartment Rental Business [Abstract] | |
Schedule of Reconciliation of Major Classes of Assets and Liabilities | The following is a reconciliation of the amounts of major classes of assets and liabilities classified as assets of discontinued operations and liabilities of discontinued operations in the consolidated balance sheets as of September 30, 2022 and 2023: As of September 30, 2022 2023 RMB RMB USD Current assets of discontinued operations Cash, cash equivalents and restricted cash 2,315 741 102 Accounts receivable, net 752 2,409 330 Amounts due from related parties — 286 39 Advances to suppliers 1,387 — — Other current assets 59,029 63,454 8,697 Property and equipment, net — 183 25 Other assets — 9,590 1,315 Total current assets of discontinued operations 63,483 76,663 10,508 Non-current assets of discontinued operations: Property and equipment, net 500 — — Intangible assets, net 13,475 — — Other assets 10,405 — — Total non-current assets of discontinued operations 24,380 — — Liabilities of discontinued operations: Accounts payable 122,667 157,613 21,603 Amounts due to related parties 765 951 130 Deferred revenue 129,930 99,230 13,601 Short-term debt 103,553 103,552 14,193 Rental instalment loans 15,756 15,756 2,160 Deposits from tenants 38,439 29,723 4,074 Accrued expenses and other current liabilities 78,194 101,501 13,911 Total liabilities of discontinued operations 489,304 508,326 69,672 |
Schedule of Major Classes of Income from Operations | The following is a reconciliation of the amounts of major classes of income from operations classified as discontinued operations in the consolidated statements of comprehensive (loss) income for the years ended September 30, 2021, 2022 and 2023: For the years ended September 30, 2021 2022 2023 RMB RMB RMB USD Net revenues 1,036,206 652,333 227,687 31,207 Operating costs: (949,654 ) (711,003 ) (242,097 ) (33,182 ) Selling and marketing expenses (13,108 ) (1 ) (3 ) (1 ) General and administrative expenses (189,580 ) (32,840 ) (19,737 ) (2,704 ) Research and development expenses (7,960 ) (2,773 ) (2,398 ) (329 ) Impairment loss on long-lived assets (199,575 ) (100,156 ) (10,474 ) (1,436 ) Other (expenses) income, net (18,476 ) (8,104 ) 2,984 409 Loss from disposal of property and equipment and intangible assets (30,173 ) (11,972 ) — — Interest (expenses) income, net (24,071 ) (24,847 ) 24 4 Debt extinguishment loss (41,961 ) — — — Foreign exchange loss, net (247 ) — — — Gains from deconsolidation of VIE’s subsidiaries — 1,554,450 — — Income tax expense (31 ) (21 ) — — Net (loss) income from discontinued operations (438,630 ) 1,315,066 (44,014 ) (6,032 ) Less: Net loss from discontinued operations attributable to noncontrolling interests (28 ) (43 ) — — Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders (438,602 ) 1,315,109 (44,014 ) (6,032 ) |
Short -Term Debt (Tables)
Short -Term Debt (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Short Term Debt [Abstract] | |
Schedule of Short-Term Debt | The short-term debt was as follows: As of September 30, 2022 2023 Short-term debt 6,544 44,432 |
Asset Acquisition (Tables)
Asset Acquisition (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Asset Acquisition [Abstract] | |
Schedule of Fair Value Analysis of Net Assets Acquired | The total consideration of RMB 495,039, after deducting the liabilities of RMB 349,665 assumed in the asset acquisition, was allocated to identify assets on the basis of their relative fair value. The allocation is as follows: RMB Apartment rental agreements 649,733 Trademarks 194,971 Liabilities assumed by the Group (349,665 ) 495,039 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Accrued Expenses and Other Current Liabilities[Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities | Accrued expenses and other current liabilities consist of the following: As of September 30, 2022 2023 Accrued interest expenses 3,456 2,375 3,456 2,375 |
Share Based Compensation (Table
Share Based Compensation (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Share Based Compensation [Abstract] | |
Schedule of Assumptions Used to Estimate Fair Values of Share Options Granted | The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented: April 2016 October 2016 July 2017 Risk-free rate of return 3.18 % 3.18 % 3.21 % Contractual life of option 10 years 10 years 8.4 years Estimated volatility rate 37 % 37 % 35 % Expected dividend yield 0 % 0 % 0 % Fair value of underlying ordinary shares* US$ 0.0003 US$ 0.0004 US$ 0.0005 |
Schedule of Option Activity | A summary of option activity during the years ended September 30, 2022 and 2023 is presented below: Number of Exercise Remaining Outstanding, as of September 30, 2021 3,420,000,000 0.02 4.96 Granted 12,236,010,800 — 10.00 Exercised (11,518,005,400 ) — 10.00 Forfeited (10,000,000 ) 0.02 4.83 Outstanding, as of September 30, 2022 and 2023 4,128,005,400 0.02 4.44 Vested and exercisable as of September 30, 2023 3,410,000,000 0.02 3.96 Vested or expected to vest as of September 30, 2023 4,128,005,400 0.02 4.44 |
Schedule of Share-based Compensation Expenses | For the years ended September 30, 2021, 2022 and 2023, the total share-based compensation expenses were comprised of the following: For the years ended September 30, 2021 2022 2023 Selling and marketing expenses 7 12 — General and administrative expenses 15,991 9,737 4,782 Research and development expenses (192 ) 22 — 15,806 9,771 4,782 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Loss Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted earnings per share for the years indicated: For the years ended September 30, 2021 2022 2023 RMB RMB RMB USD Numerator: Net (loss) income attributable to FLJ Group Limited’s ordinary shareholders (569,174 ) 820,023 (71,313 ) (9,774 ) Net loss from continuing operations attributable to FLJ Group Limited’s ordinary shareholders (130,572 ) (495,086 ) (27,299 ) (3,742 ) Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders (438,602 ) 1,315,109 (44,014 ) (6,032 ) Denominator: Weighted average number of ordinary shares used in computing net loss per share—Basic and diluted 146,069,290,900 1,025,842,445,700 2,805,073,364,600 2,805,073,364,600 Net (loss) earnings per share attributable to ordinary shareholders of FLJ Group (0.00 ) 0.00 (0.00 ) (0.00 ) Net loss per share from continuing operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (0.00 ) (0.00 ) (0.00 ) (0.00 ) Net (loss) earnings from per share discontinued operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted (0.00 ) 0.00 (0.00 ) (0.00 ) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate | A reconciliation between the effective income tax rate and the PRC statutory income tax rate are as follows: For the years ended September 30, 2021 2022 2023 PRC statutory tax rate 25.0 % 25.0 % 25.0 % Effect of different tax rates of group entities operating in other jurisdictions and preferential tax rates of group entities (25.0 )% (25.0 )% (23.1 )% Effect of change in valuation allowance 0.0 % 0.0 % (2.0 )% 0.0 % 0.0 % 0.0 % |
Schedule of Principal Components of Deferred Income Tax Assets | The principal components of the Group’s deferred income tax assets as of September 30, 2022 and 2023 are as follows: As of September 30, 2022 2023 Deferred tax assets: Net losses carry forwards — 548 Valuation allowance — (548 ) — — |
Schedule of Movement of Valuation Allowance | Movement of the valuation allowance is as follows: Balance as of September 30, 2022 — Addition 548 Write off (548 ) Balance as of September 30, 2023 — |
Related Party Transactions an_2
Related Party Transactions and Balances (Tables) | 12 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions and Balances [Abstract] | |
Schedule of Transactions Due to Related Parties | The following entities are considered to be related parties to the Group. The related parties mainly act as service providers and service recipients to the Group. The Group is not obligated to provide any type of financial support to these related parties. Related Party Relationship with the Group Wangxiancai Limited An entity controlled by the legal representative and executive director of one of the former subsidiaries. The subsidiary was disposed of on October 31, 2023 and Wangxiancai Limited was no longer a related party of the Group since then Key Space (S) Pte Ltd (“Key Space”) An entity controlled by certain shareholders of the Group Mr. Qu Chengcai Chief Executive Officer Mr. Sun Zhichen Chief Financial Officer |
Schedule of Transactions Due to Related Parties | The balance due to related parties represented borrowings from Key Space which were due within 12 months from borrowing. Details are as follows: As of September 30, 2022 2023 Key Space 4,065 4,495 4,065 4,495 |
Organization and Principal Ac_3
Organization and Principal Activities (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||||
Dec. 28, 2023 | Sep. 30, 2023 | Dec. 07, 2023 | Nov. 02, 2023 | Sep. 18, 2023 | Sep. 30, 2022 | |
Organization and Principal Activities [Line Items] | ||||||
Ordinary share unissued | 1 | |||||
Unissued common stock, par value (in Dollars per share) | $ 0.00 | |||||
Authorized share capital (in Dollars) | $ 450,000 | |||||
Purchase price (in Dollars) | $ 180,000,000 | |||||
Interest rate percentage | 3% | |||||
Capital Units [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Authorized share capital (in Dollars) | 1,000,000 | |||||
Maximum [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Authorized share capital (in Dollars) | 450,000 | |||||
Minimum [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Authorized share capital (in Dollars) | $ 1,000,000 | |||||
Class A Ordinary shares [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Ordinary share issued | 2,587,892,046,400 | 2,587,892,046,400 | ||||
Common stock, par value (in Dollars per share) | $ 0.00 | $ 0.00 | ||||
Common stock ,shares authorized | 8,500,000,000,000 | 3,750,000,000,000 | ||||
Class A Ordinary shares [Member] | Capital Units [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Common stock ,shares authorized | 8,500,000,000,000 | |||||
Class B Ordinary Shares [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Ordinary share issued | 250,000,000,000 | |||||
Common stock, par value (in Dollars per share) | $ 0.00 | $ 0.00 | ||||
Common stock ,shares authorized | 1,000,000,000,000 | 250,000,000,000 | ||||
Class B Ordinary Shares [Member] | Capital Units [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Common stock ,shares authorized | 1,000,000,000,000 | |||||
Preferred Class A [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Preferred stock, share issued | 500,000,000,000 | |||||
Preferred stock, par value (in Dollars per share) | $ 0.00 | |||||
Director [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Preferred stock, share issued | 500,000,000,000 | |||||
Preferred stock, par value (in Dollars per share) | $ 0.00 | |||||
Director [Member] | Class A Ordinary shares [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Common stock ,shares authorized | 3,750,000,000,000 | |||||
Director [Member] | Class B Ordinary Shares [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Common stock ,shares authorized | 250,000,000,000 | |||||
Ads [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Reverse ADS split description | Effective on March 7, 2022, the Group changed the ratio of the American depositary shares (“ADSs”) representing its Class A ordinary shares from one (1) ADS representing thirty (30) Class A ordinary share to one (1) ADS representing one hundred and fifty (150) Class A ordinary shares. For the ADS holders, the change in the ADS ratio had the same effect as a one-for-five reverse ADS split for the period from March 7, 2022 through November 1, 2023. There will be no change to the Group’s Class A ordinary shares. The exchange of every five (5) then-held (old) ADSs for one (1) new ADS will occur automatically with the then-held ADSs being cancelled and new ADSs being issued by the depositary bank, in each case as of the effective date for the ADS ratio change. No fractional new ADSs will be issued in connection with the change in the ADS ratio. | |||||
Ordinary share issued | 100 | |||||
Common stock, par value (in Dollars per share) | $ 0.00001 | |||||
Ads [Member] | Class A Ordinary shares [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Ordinary share issued | 150 | |||||
Ordinary share unissued | 15,000 | |||||
Ads [Member] | Class A Ordinary shares [Member] | Maximum [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Number of share ratio | (600,000) | |||||
Ads [Member] | Class A Ordinary shares [Member] | Minimum [Member] | ||||||
Organization and Principal Activities [Line Items] | ||||||
Number of share ratio | 15,000 |
Organization and Principal Ac_4
Organization and Principal Activities (Details) - Schedule of Significant Subsidiaries - Subsidiaries [Member] | 12 Months Ended |
Sep. 30, 2023 | |
QK365.com INC. (BVI) [Member] | |
Subsidiary of Limited Liability Company or Limited Partnership [Line Items] | |
Date of incorporation | Sep. 29, 2014 |
Place of incorporation | BVI |
Percentage of legal/beneficial ownership by the Company | 100% |
Principal activities | Holding |
Fenglinju (China) Hong Kong Limited (“Fenglinju”) [Member] | |
Subsidiary of Limited Liability Company or Limited Partnership [Line Items] | |
Date of incorporation | Oct. 21, 2021 |
Place of incorporation | Hong Kong |
Percentage of legal/beneficial ownership by the Company | 100% |
Principal activities | Holding |
Shanghai Meileju Intelligence Technology Co., Ltd. (“Meileju”) [Member] | |
Subsidiary of Limited Liability Company or Limited Partnership [Line Items] | |
Date of incorporation | Jun. 24, 2021 |
Place of incorporation | PRC |
Percentage of legal/beneficial ownership by the Company | 100% |
Principal activities | Holding |
Summary of Principal Accounti_2
Summary of Principal Accounting Policies (Details) | 12 Months Ended | |||||||||
Dec. 28, 2023 USD ($) | Oct. 26, 2022 USD ($) | Sep. 30, 2023 CNY (¥) shares | Sep. 30, 2023 USD ($) shares | Sep. 30, 2022 CNY (¥) shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2021 CNY (¥) shares | Sep. 30, 2021 USD ($) shares | Sep. 30, 2023 USD ($) | Oct. 26, 2022 CNY (¥) | |
Summary of Principal Accounting Policies [Line Items] | ||||||||||
Accumulated deficits | ¥ (3,629,980,000) | ¥ (3,558,667,000) | $ (497,530,000) | |||||||
Net cash used in operating activities from continuing operations | ¥ (24,320,000) | $ (3,335,000) | (7,096,000) | ¥ (161,402,000) | ||||||
Current liabilities | 643,424,000 | 597,242,000 | ||||||||
Consideration amount (in Dollars) | $ | $ 180,000,000 | |||||||||
Percentage of interest rate | 3% | |||||||||
Cash requirements | ¥ 300,000,000 | |||||||||
Financial support (in Dollars) | $ | $ 1,000,000 | |||||||||
Foreign currency translations | Translations of balances in the consolidated balance sheet, and the related consolidated statements of comprehensive (loss) income, shareholders’ deficits and cash flows from RMB into US dollars as of and for the year ended September 30, 2023 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB 7.2960, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2022. | Translations of balances in the consolidated balance sheet, and the related consolidated statements of comprehensive (loss) income, shareholders’ deficits and cash flows from RMB into US dollars as of and for the year ended September 30, 2023 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB 7.2960, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2022. | ||||||||
Foreign currency transaction | ¥ 7.296 | |||||||||
Total expenses | ¥ 215,000 | |||||||||
Tax benefit largest amount | 50% | 50% | ||||||||
Share based compensation expenses | ¥ 4,782,000 | $ 4,782,000 | ¥ 9,771,000 | $ 9,771,000 | ¥ 15,806,000 | $ 15,806,000 | ||||
Treasury shares (in Shares) | shares | 77,100,000 | 77,100,000 | 77,100,000 | 77,100,000 | ||||||
Treasury shares (in Shares) | shares | ||||||||||
Rendering Services [Member] | ||||||||||
Summary of Principal Accounting Policies [Line Items] | ||||||||||
Value added taxes | 6% | 6% | ||||||||
Sales of Goods Education Surtax and Urban Maintenance and Construction Tax [Member] | ||||||||||
Summary of Principal Accounting Policies [Line Items] | ||||||||||
Value added taxes | 13% | 13% | ||||||||
Business Acquisition [Member] | ||||||||||
Summary of Principal Accounting Policies [Line Items] | ||||||||||
Equity interest percentage | 100% |
Disposition of Long-Term Apar_3
Disposition of Long-Term Apartment Rental Business (Details) - Schedule of Reconciliation of Major Classes of Assets and Liabilities ¥ in Thousands, $ in Thousands | Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) |
Current assets of discontinued operations | |||
Cash, cash equivalents and restricted cash | ¥ 741 | $ 102 | ¥ 2,315 |
Accounts receivable, net | 2,409 | 330 | 752 |
Amounts due from related parties | 286 | 39 | |
Advances to suppliers | 1,387 | ||
Other current assets | 63,454 | 8,697 | 59,029 |
Property and equipment, net | 183 | 25 | |
Other assets | 9,590 | 1,315 | |
Total current assets of discontinued operations | 76,663 | 10,508 | 63,483 |
Non-current assets of discontinued operations: | |||
Property and equipment, net | 500 | ||
Intangible assets, net | 13,475 | ||
Other assets | 10,405 | ||
Total non-current assets of discontinued operations | 24,380 | ||
Liabilities of discontinued operations: | |||
Accounts payable | 157,613 | 21,603 | 122,667 |
Deferred revenue | 99,230 | 13,601 | 129,930 |
Short-term debt | 103,552 | 14,193 | 103,553 |
Rental instalment loans | 15,756 | 2,160 | 15,756 |
Deposits from tenants | 29,723 | 4,074 | 38,439 |
Accrued expenses and other current liabilities | 101,501 | 13,911 | 78,194 |
Total liabilities of discontinued operations | 508,326 | 69,672 | 489,304 |
Related Parties | |||
Liabilities of discontinued operations: | |||
Amounts due to related parties | ¥ 951 | $ 130 | ¥ 765 |
Disposition of Long-Term Apar_4
Disposition of Long-Term Apartment Rental Business (Details) - Schedule of Major Classes of Income from Operations ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) | Sep. 30, 2021 CNY (¥) | |
Schedule of Major Classes of Income From Operations [Abstract] | ||||
Net revenues | ¥ 227,687 | $ 31,207 | ¥ 652,333 | ¥ 1,036,206 |
Operating costs: | (242,097) | (33,182) | (711,003) | (949,654) |
Selling and marketing expenses | (3) | (1) | (1) | (13,108) |
General and administrative expenses | (19,737) | (2,704) | (32,840) | (189,580) |
Research and development expenses | (2,398) | (329) | (2,773) | (7,960) |
Impairment loss on long-lived assets | (10,474) | (1,436) | (100,156) | (199,575) |
Other (expenses) income, net | 2,984 | 409 | (8,104) | (18,476) |
Loss from disposal of property and equipment and intangible assets | (11,972) | (30,173) | ||
Interest (expenses) income, net | 24 | 4 | (24,847) | (24,071) |
Debt extinguishment loss | (41,961) | |||
Foreign exchange loss, net | (247) | |||
Gains from deconsolidation of VIE’s subsidiaries | 1,554,450 | |||
Income tax expense | (21) | (31) | ||
Net (loss) income from discontinued operations | (44,014) | (6,032) | 1,315,066 | (438,630) |
Less: Net loss from discontinued operations attributable to noncontrolling interests | (43) | (28) | ||
Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders | ¥ (44,014) | $ (6,032) | ¥ 1,315,109 | ¥ (438,602) |
Short -Term Debt (Details)
Short -Term Debt (Details) - USD ($) | Jul. 31, 2024 | Sep. 30, 2023 | Sep. 30, 2022 |
Short Term Debt [Abstract] | |||
Borrowed | $ 5,190 | $ 920 | |
Loans bear interest rate | 3.85% |
Short -Term Debt (Details) - Sc
Short -Term Debt (Details) - Schedule of Short-Term Debt ¥ in Thousands, $ in Thousands | Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) |
Schedule of Short-Term Debt [Abstract] | |||
Short-term debt | ¥ 44,432 | $ 6,090 | ¥ 6,544 |
Asset Acquisition (Details)
Asset Acquisition (Details) | 1 Months Ended | 12 Months Ended | |||||||||||||
Jul. 22, 2020 CNY (¥) shares | Jul. 22, 2020 USD ($) shares | May 31, 2021 $ / shares shares | Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) shares | Sep. 30, 2021 CNY (¥) | Sep. 30, 2020 CNY (¥) | Sep. 30, 2020 USD ($) | Dec. 28, 2023 USD ($) | Sep. 30, 2023 USD ($) | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 30, 2020 USD ($) | |
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Liabilities | ¥ 349,665 | ||||||||||||||
Cash consideration | ¥ 6,484,000 | $ 5,800,000 | |||||||||||||
Cash consideration | ¥ 39,498,000 | ||||||||||||||
Transaction costs | $ | $ 180,000,000 | ||||||||||||||
Fair value of apartment rental agreements and trademarks | 649,733 | ||||||||||||||
Fair value of trademarks | 194,971 | ||||||||||||||
Total consideration | 495,039 | ||||||||||||||
Recorded the liabilities | ¥ 169,267,000 | ¥ 165,033,000 | ¥ 169,267,000 | $ 23,200,000 | |||||||||||
Ordinary Shares [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Ordinary shares subject to a make-whole cash-settled provision (in Shares) | shares | 5,778,645,800 | ||||||||||||||
Ordinary shares subject to redemption (in Shares) | shares | 2,086,074,900 | ||||||||||||||
Ordinary shares classification of a liability (in Shares) | shares | 5,778,645,800 | ||||||||||||||
Great Alliance Co Living Limited And Affiliates [Member] | Rental Contracts [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Acquire assets | 72,000 | 72,000 | |||||||||||||
Beautiful House [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Liabilities | ¥ 349,665,000 | ¥ 349,665,000 | |||||||||||||
Cash consideration | 205,306,000 | $ 29,000,000 | |||||||||||||
Share issued (in Shares) | shares | 18,637,585,000 | ||||||||||||||
Share consideration | 289,733,000 | $ 42,673,000 | 289,733,000 | ||||||||||||
Transaction costs | 0 | ||||||||||||||
Remaining cash consideration | ¥ 165,808,000 | $ 23,200,000 | |||||||||||||
Fair value of trademarks | 86,900,000 | ||||||||||||||
Total consideration | ¥ 495,039,000 | ||||||||||||||
Ordinary shares are redeemable at a per share price (in Shares) | shares | 5,778,645,800 | ||||||||||||||
Beautiful House [Member] | Fair Value, Inputs, Level 3 [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Fair value of apartment rental agreements and trademarks | ¥ 289,591,000 | ||||||||||||||
Beautiful House [Member] | Lock In Period Expiring On Thirtieth June Two Thousand And Twenty One [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Shares payable instalments percentage | 30% | ||||||||||||||
Beautiful House [Member] | Lock In Period Expiring On Thirtieth June Two Thousand And Twenty Two [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Shares payable instalments percentage | 40% | ||||||||||||||
Beautiful House [Member] | Lock In Period Expiring On Thirtieth June Two Thousand And Twenty Three [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Shares payable instalments percentage | 30% | ||||||||||||||
Beautiful House [Member] | Ordinary Shares [Member] | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Share issued (in Shares) | shares | 18,637,585,000 | ||||||||||||||
Ordinary shares are redeemable at a per share price (in Shares) | shares | 5,778,645,800 | ||||||||||||||
Business Combination Maximum Per Share Value To Be Collected By Acquiree (in Dollars per share) | $ / shares | $ 0.004014 | ||||||||||||||
Ordinary shares are redeemable per share price (in Shares) | shares | 2,086,074,900 | ||||||||||||||
Ordinary shares are redeemable at a per share price (in Dollars per share) | $ / shares | $ 0.004015 | ||||||||||||||
Beautiful House [Member] | Ordinary Shares [Member] | Class A Ordinary Shares | |||||||||||||||
Asset Acquisition (Details) [Line Items] | |||||||||||||||
Share issued (in Shares) | shares | 12,858,939,200 | 12,858,939,200 |
Asset Acquisition (Details) - S
Asset Acquisition (Details) - Schedule of Fair Value Analysis of Net Assets Acquired | Sep. 30, 2023 CNY (¥) |
Schedule Of Fair Value Analysis Of Net Assets Acquired Abstract | |
Apartment rental agreements | ¥ 649,733 |
Trademarks | 194,971 |
Liabilities assumed by the Group | (349,665) |
Total fair value | ¥ 495,039 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accounts Payable and Accrued Liabilities ¥ in Thousands, $ in Thousands | Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) |
Schedule of Accounts Payable and Accrued Liabilities [Abstract] | |||
Accrued interest expenses | ¥ 2,375 | ¥ 3,456 | |
Total | ¥ 2,375 | $ 327 | ¥ 3,456 |
Share Based Compensation (Detai
Share Based Compensation (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||||||||||||
Aug. 03, 2023 shares | Aug. 03, 2022 shares | Jun. 30, 2022 $ / shares shares | Jul. 31, 2017 $ / shares shares | Jul. 31, 2017 ¥ / shares shares | Oct. 18, 2016 shares | Oct. 17, 2016 shares | Apr. 21, 2016 shares | Aug. 31, 2014 shares | Sep. 30, 2023 CNY (¥) ¥ / shares shares | Sep. 30, 2023 USD ($) $ / shares shares | Sep. 30, 2022 CNY (¥) shares | Sep. 30, 2022 USD ($) shares | Sep. 30, 2021 CNY (¥) ¥ / shares shares | Sep. 30, 2021 USD ($) shares | Nov. 18, 2022 shares | Jun. 24, 2022 shares | |
Share Based Compensation [Line Items] | |||||||||||||||||
Share options granted | 12,236,010,800 | 12,236,010,800 | |||||||||||||||
Share options granted, exercise price per share | ¥ / shares | |||||||||||||||||
Number of options, vested or expected to vest | 4,128,005,400 | 4,128,005,400 | |||||||||||||||
Share based compensation stock options outstanding number | 4,128,005,400 | 4,128,005,400 | 3,420,000,000 | 3,420,000,000 | |||||||||||||
Compensation expenses for shares granted (in Yuan Renminbi) | ¥ 4,782 | $ 4,782 | ¥ 9,771 | $ 9,771 | ¥ 15,806 | $ 15,806 | |||||||||||
2019 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Percentage of maximum number of shares issued | 10% | 10% | |||||||||||||||
Stock options, grant date fair value (in Dollars per share) | $ / shares | $ 0.0363425 | ||||||||||||||||
2022 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Percentage of total outstanding share capital | 8.80% | 8.80% | |||||||||||||||
Percentage of voting power | 49.10% | 49.10% | |||||||||||||||
Yijia Inc [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Shares reserved | 86,000,000 | 86,000,000 | |||||||||||||||
Class B Ordinary Shares | 2022 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Maximum number of shares issued | 250,000,000,000 | 250,000,000,000 | 250,000,000,000 | ||||||||||||||
Class B Ordinary Shares | Yijia Inc [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Ordinary shares held and reserved | 7,520,000 | ||||||||||||||||
Chief Executive Officer [Member] | 2019 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Share options granted | 7,200,000,000 | ||||||||||||||||
Share options granted, exercise price per share | $ / shares | |||||||||||||||||
Stock options, grant date fair value (in Dollars per share) | $ / shares | $ 0.0363425 | ||||||||||||||||
Stock Option A [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Exercise of share-based compensation, shares | 0 | 0 | |||||||||||||||
Number of options, vested or expected to vest | 1,025,000,000 | 1,025,000,000 | 1,025,000,000 | 1,025,000,000 | |||||||||||||
Weighted average intrinsic value of share options | |||||||||||||||||
Stock Option A [Member] | Maximum [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Percentage of total exercised ordinary shares | 25% | 25% | |||||||||||||||
Stock Option A [Member] | Management Employees And Non Employees [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Share options granted | 26,860,000 | 26,860,000 | 26,860,000 | 26,860,000 | |||||||||||||
Share options granted, exercise price per share | (per share) | ¥ 0.02 | $ 0.0031 | |||||||||||||||
Share options granted, vesting percentage | 50% | 50% | |||||||||||||||
Stock Option A [Member] | Class B Ordinary Shares | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Number of options , vested and exercisable | 1,025,000,000 | 1,025,000,000 | |||||||||||||||
Stock Option B [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Weighted average intrinsic value of share options | |||||||||||||||||
Compensation expenses for shares granted (in Dollars) | $ | |||||||||||||||||
Share based compensation stock options outstanding number | 2,385,000,000 | 2,385,000,000 | 2,385,000,000 | 2,385,000,000 | |||||||||||||
Stock Option B [Member] | Management And Employees [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Share options granted | 43,140,000 | 43,140,000 | |||||||||||||||
Share options granted, exercise price per share | (per share) | $ 0.0031 | ¥ 0.02 | |||||||||||||||
Stock Option B [Member] | Class A Ordinary Shares | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Share based compensation stock options outstanding number | 2,385,000,000 | 2,385,000,000 | |||||||||||||||
Share-Based Payment Arrangement, Option [Member] | 2019 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Stock options vested | 359,000,000 | 359,000,000 | |||||||||||||||
Share-Based Payment Arrangement, Option [Member] | 2022 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Compensation expenses for shares granted (in Yuan Renminbi) | ¥ | ¥ 4,782 | ¥ 9,771 | ¥ 1,236 | ||||||||||||||
Share-Based Payment Arrangement, Option [Member] | Chief Financial Officer [Member | 2019 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Share options granted | 5,036,000,000 | ||||||||||||||||
Share options granted, exercise price per share | $ / shares | |||||||||||||||||
Exercise of share-based compensation, shares | 4,318,000,000 | ||||||||||||||||
Stock options vested | 359,000,000 | 359,000,000 | |||||||||||||||
Restricted Stock Units [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Compensation expenses for shares granted (in Yuan Renminbi) | ¥ | ¥ 14,570 | ||||||||||||||||
Unrecognized compensation expenses (in Dollars) | $ | |||||||||||||||||
Restricted Stock Units [Member] | Consulting Company [Member] | 2019 Share Incentive Plan [Member] | |||||||||||||||||
Share Based Compensation [Line Items] | |||||||||||||||||
Restricted share units, issued | 2,500,000,000 | 2,500,000,000 | |||||||||||||||
Restricted share units, measurement date fair value (in Dollars per share) | $ / shares | $ 0.0009 |
Share Based Compensation (Det_2
Share Based Compensation (Details) - Schedule of Assumptions Used to Estimate Fair Values of Share Options Granted - $ / shares | 1 Months Ended | |||
Jul. 31, 2017 | Oct. 31, 2016 | Apr. 30, 2016 | ||
Schedule of Assumptions Used to Estimate Fair Values of Share Options Granted [Abstract] | ||||
Risk-free rate of return | 3.21% | 3.18% | 3.18% | |
Contractual life of option | 8 years 4 months 24 days | 10 years | 10 years | |
Estimated volatility rate | 35% | 37% | 37% | |
Expected dividend yield | 0% | 0% | 0% | |
Fair value of underlying ordinary shares (in Dollars per share) | [1] | $ 0.0005 | $ 0.0004 | $ 0.0003 |
[1]after giving effects to share subdivision in September 2023 |
Share Based Compensation (Det_3
Share Based Compensation (Details) - Schedule of Option Activity - ¥ / shares | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2021 | Sep. 30, 2023 | Sep. 30, 2021 | |
Schedule of Option Activity [Abstract] | ||||
Number of Options, Outstanding Ending balance | 4,128,005,400 | 3,420,000,000 | 4,128,005,400 | 3,420,000,000 |
Exercise Price, Outstanding Ending balance | ¥ 0.02 | ¥ 0.02 | ¥ 0.02 | ¥ 0.02 |
Remaining Contractual Life, Outstanding Ending balance | 4 years 5 months 8 days | 4 years 11 months 15 days | ||
Number of Options, Vested and exercisable | 3,410,000,000 | 3,410,000,000 | ||
Exercise Price, Vested and exercisable | ¥ 0.02 | ¥ 0.02 | ||
Remaining Contractual Life, Vested and exercisable | 3 years 11 months 15 days | |||
Number of Options, Vested or expected to vest | 4,128,005,400 | 4,128,005,400 | ||
Exercise Price, Vested or expected to vest | ¥ 0.02 | ¥ 0.02 | ||
Remaining Contractual Life, Vested or expected to vest | 4 years 5 months 8 days | |||
Number of Options, Granted | 12,236,010,800 | |||
Remaining Contractual Life, Granted | 10 years | |||
Exercise Price, Granted | ||||
Number of Options, Exercised | (11,518,005,400) | |||
Remaining Contractual Life, Exercised | 10 years | |||
Exercise Price, Exercised | ||||
Number of Options, Forfeited | (10,000,000) | |||
Exercise Price, Forfeited | ¥ 0.02 | |||
Remaining Contractual Life, Forfeited | 4 years 9 months 29 days |
Share Based Compensation (Det_4
Share Based Compensation (Details) - Schedule of Share-based Compensation Expenses ¥ in Thousands, $ in Thousands | 12 Months Ended | |||||
Sep. 30, 2023 CNY (¥) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 CNY (¥) | Sep. 30, 2022 USD ($) | Sep. 30, 2021 CNY (¥) | Sep. 30, 2021 USD ($) | |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||||
share-based compensation expenses | ¥ 4,782 | $ 4,782 | ¥ 9,771 | $ 9,771 | ¥ 15,806 | $ 15,806 |
Selling and marketing expenses [Member] | ||||||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||||
share-based compensation expenses | 12 | 7 | ||||
General and administrative expenses [Member] | ||||||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||||
share-based compensation expenses | 4,782 | 9,737 | 15,991 | |||
Research and development expenses [Member] | ||||||
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||||
share-based compensation expenses | $ 22 | $ (192) |
Loss Per Share (Details)
Loss Per Share (Details) - ¥ / shares | 12 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | ||
Loss Per Share (Details) [Line Items] | ||||
Weighted average ordinary shares | [1] | 2,805,073,364,600 | 1,025,842,445,700 | 146,069,290,900 |
Assumed conversion of ordinary shares | 0 | 0 | 745,244,500 | |
Employee Stock Option [Member] | ||||
Loss Per Share (Details) [Line Items] | ||||
Weighted average ordinary shares | 718,005,400 | 359,002,700 | ||
Exercisable stock options (in Yuan Renminbi per share) | ||||
Assumed conversion of ordinary shares | 3,410,000,000 | 3,769,002,700 | 3,420,000,000 | |
[1]Retroactively restated to give effect to a share subdivision at a ratio of one-for-one hundredth (100) ordinary shares effective on September 18, 2023 (Note 1). |
Loss Per Share (Details) - Sche
Loss Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Sep. 30, 2023 CNY (¥) ¥ / shares shares | Sep. 30, 2023 USD ($) $ / shares shares | Sep. 30, 2022 CNY (¥) ¥ / shares shares | Sep. 30, 2021 CNY (¥) ¥ / shares shares | ||
Numerator: | |||||
Net (loss) income attributable to FLJ Group Limited’s ordinary shareholders | ¥ (71,313) | $ (9,774) | ¥ 820,023 | ¥ (569,174) | |
Net loss from continuing operations attributable to FLJ Group Limited’s ordinary shareholders | (27,299) | (3,742) | (495,086) | (130,572) | |
Net (loss) income from discontinued operations attributable to FLJ Group Limited’s ordinary shareholders | ¥ (44,014) | $ (6,032) | ¥ 1,315,109 | ¥ (438,602) | |
Denominator: | |||||
Weighted average number of ordinary shares used in computing net loss per share—Basic and diluted | [1] | 2,805,073,364,600 | 2,805,073,364,600 | 1,025,842,445,700 | 146,069,290,900 |
Net (loss) earnings per share attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted | (per share) | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 | |
Net loss per share from continuing operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted | (per share) | 0 | 0 | 0 | 0 | |
Net (loss) earnings from per share discontinued operations attributable to ordinary shareholders of FLJ Group Limited—Basic and diluted | (per share) | ¥ 0 | $ 0 | ¥ 0 | ¥ 0 | |
[1]Retroactively restated to give effect to a share subdivision at a ratio of one-for-one hundredth (100) ordinary shares effective on September 18, 2023 (Note 1). |
Loss Per Share (Details) - Sc_2
Loss Per Share (Details) - Schedule of Computation of Basic and Diluted Earnings Per Share (Parentheticals) | 12 Months Ended | |||
Sep. 30, 2023 $ / shares shares | Sep. 30, 2023 ¥ / shares shares | Sep. 30, 2022 ¥ / shares shares | Sep. 30, 2021 ¥ / shares shares | |
Schedule of Computation of Basic and Diluted Earnings Per Share [Abstract] | ||||
Weighted average number of ordinary shares used in computing net loss per share—diluted (in Shares) | 2,805,073,364,600 | 2,805,073,364,600 | 1,025,842,445,700 | 146,069,290,900 |
Net (loss) earnings per share attributable to ordinary shareholders of FLJ Group Limited— diluted | (per share) | $ 0 | ¥ 0 | ¥ 0 | ¥ 0 |
Net loss per share from continuing operations attributable to ordinary shareholders of FLJ Group Limited— diluted | (per share) | 0 | 0 | 0 | 0 |
Net (loss) earnings from per share discontinued operations attributable to ordinary shareholders of FLJ Group Limited— diluted | (per share) | $ 0 | ¥ 0 | ¥ 0 | ¥ 0 |
Income Taxes (Details)
Income Taxes (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Income Taxes (Details) [Line Items] | ||
Loss carryforwards | ¥ 2,192 | |
Percentage of investor holds least | 25% | |
Percentage of investor holds less than | 25% | |
Tax Loss Carryforward Expire by Twenty Three [Member] | ||
Income Taxes (Details) [Line Items] | ||
Loss carryforwards | ||
State Administration of Taxation, China [Member] | ||
Income Taxes (Details) [Line Items] | ||
Uniform tax rate | 25% | |
Underpayment income taxes | 3 years | |
Underpayment statute limitations | 5 years | |
Income tax liability | ¥ 100 | |
case of tax evasion | ||
Withholding income tax | 10% | |
percentage of tax rate | 5% | |
Percentage of FIE | 10% | |
Undistributed profits |
Income Taxes (Details) - Schedu
Income Taxes (Details) - Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Schedule of Reconciliation Between Effective Income Tax Rate and PRC Statutory Income Tax Rate [Abstract] | |||
PRC statutory tax rate | 25% | 25% | 25% |
Effect of different tax rates of group entities operating in other jurisdictions and preferential tax rates of group entities | (23.10%) | (25.00%) | (25.00%) |
Effect of change in valuation allowance | (2.00%) | 0% | 0% |
Total | 0% | 0% | 0% |
Income Taxes (Details) - Sche_2
Income Taxes (Details) - Schedule of Principal Components of Deferred Income Tax Assets - CNY (¥) ¥ in Thousands | Sep. 30, 2023 | Sep. 30, 2022 |
Deferred tax assets: | ||
Net losses carry forwards | ¥ 548 | |
Valuation allowance | ¥ (548) |
Income Taxes (Details) - Sche_3
Income Taxes (Details) - Schedule of Movement of Valuation Allowance | 12 Months Ended |
Sep. 30, 2023 CNY (¥) | |
Schedule of Movement of Valuation Allowance [Abstract] | |
Balance as of September 30, 2022 | |
Addition | 548 |
Write off | (548) |
Balance as of September 30, 2023 |
Statutory Reserves and Net Re_2
Statutory Reserves and Net Restricted Assets (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Statutory Reserves and Net Restricted Assets [Abstract] | ||
Percentage of statutory reserve | 10% | |
Percentage of registered capital | 50% | |
Amounts restricted including paid-in capital and statutory reserve | ¥ 10,000 |
Related Party Transactions an_3
Related Party Transactions and Balances (Details) - CNY (¥) | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 |
Related Party Transactions and Balances (Details) [Line Items] | |||
Issuance of stock options | 4,128,005,400 | 3,420,000,000 | |
Amounts due to related parties | ¥ 4,495,000 | ¥ 4,065,000 | |
Related Party [Member] | |||
Related Party Transactions and Balances (Details) [Line Items] | |||
Amounts due to related parties | ¥ 4,495 | ¥ 4,065 | |
Mr. Qu [Member] | |||
Related Party Transactions and Balances (Details) [Line Items] | |||
Issuance of stock options | 72,000,000 | ||
Mr. Sun [Member] | |||
Related Party Transactions and Balances (Details) [Line Items] | |||
Issuance of stock options | 43,180,000 |
Related Party Transactions an_4
Related Party Transactions and Balances (Details) - Schedule of Financial Support to these Related Party | 12 Months Ended |
Sep. 30, 2023 | |
Wangxiancai Limited [Member] | |
Related Party Transactions and Balances (Details) - Schedule of Financial Support to these Related Party [Line Items] | |
Relationship with the Group | An entity controlled by the legal representative and executive director of one of the former subsidiaries. The subsidiary was disposed of on October 31, 2023 and Wangxiancai Limited was no longer a related party of the Group since then |
Key Space (S) Pte Ltd (“Key Space”) [Member] | |
Related Party Transactions and Balances (Details) - Schedule of Financial Support to these Related Party [Line Items] | |
Relationship with the Group | An entity controlled by certain shareholders of the Group |
Mr. Qu Chengcai [Member] | |
Related Party Transactions and Balances (Details) - Schedule of Financial Support to these Related Party [Line Items] | |
Relationship with the Group | Chief Executive Officer |
Mr. Sun Zhichen [Member] | |
Related Party Transactions and Balances (Details) - Schedule of Financial Support to these Related Party [Line Items] | |
Relationship with the Group | Chief Financial Officer |
Related Party Transactions an_5
Related Party Transactions and Balances (Details) - Schedule of Transactions Due to Related Parties - CNY (¥) ¥ in Thousands | Sep. 30, 2023 | Sep. 30, 2022 |
Related Party Transaction [Line Items] | ||
Borrowings from the related parties | ¥ 4,495 | ¥ 4,065 |
Key Space [Member] | ||
Related Party Transaction [Line Items] | ||
Borrowings from the related parties | ¥ 4,495 | ¥ 4,065 |
Subsequent Events (Details)
Subsequent Events (Details) - Business Acquisition [Member] - USD ($) | Dec. 28, 2023 | Sep. 29, 2023 |
Subsequent Event [Member] | ||
Subsequent Events [Line Items] | ||
Total consideration (in Dollars) | $ 180,000,000 | |
Alpha Mind Technology Limited [Member] | Subsequent Event [Member] | ||
Subsequent Events [Line Items] | ||
Percentage of acquire | 100% | |
Lianlian Holdings Inc. [Member] | ||
Subsequent Events [Line Items] | ||
Percentage of acquire | 95% |