CN Energy Group. Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsCN Energy Group. Inc. is a British Virgin Islands-incorporated, Nasdaq-listed (CNEY) holding company with principal executive offices in Lishui City, Zhejiang Province, PRC, reporting under U.S. GAAP.
What they do
The filing excerpts provided are limited to the Form 20-F/A cover page and Explanatory Note, which do not describe the company's operating business or products. The company files as an annual report on Form 20-F for the fiscal year ended September 30, 2025, and holds an equity method investment in YN International Group Limited ('Ynong'). The Explanatory Note states the amendment revises Note 2 and Note 9 disclosures regarding the Ynong equity method investment and includes Ynong's separate audited financial statements under Rule 3-09 of Regulation S-X.
Revenue drivers
- Not disclosed in provided excerpts — The excerpted filing text does not identify any segment, product line, or revenue source for the company.
- Equity method investment in YN International Group Limited (Ynong) — The amendment relates to the company's equity method investment in Ynong, including significance disclosures under Regulation S-X and Ynong's separate audited financial statements filed as Exhibit 99.1; the excerpts do not state Ynong's business or the investment's contribution to revenue.
Recent performance
Reported annual revenue rose from $19.8M in 2021 to $40.2M in 2022 and $57.9M in 2023, then declined to $51.0M in 2024 and $35.6M in 2025. Net income was $1.3M in 2021 and $2.2M in 2022, followed by net losses of $5.6M in 2023, $14.0M in 2024, and $11.1M in 2025. Diluted EPS was $2.56 in 2021 and $3.09 in 2022, then negative $78.01, negative $103.27, and negative $21.46 for 2023, 2024, and 2025. Operating cash flow was negative in every year shown, including negative $30.2M in 2023, negative $2.4M in 2024, and negative $2.0M in 2025. At September 30, 2025, total assets were $107.3M, total liabilities $5.3M, shareholder equity $102.0M, and cash and equivalents $390,706.
Strategy
The provided excerpts do not include a management strategy discussion; the filing is an amendment to the original Form 20-F filed January 30, 2026. The amendment's stated purpose is to revise Note 2 and Note 9 disclosures concerning the Ynong equity method investment, including Regulation S-X significance disclosures, and to file Ynong's separate audited financial statements and auditor consents. The amendment states that except as described, the Original Form 20-F remains unchanged and is not updated for events after its filing date.
Risks
- Equity method investment concentration — The amendment was required to address the company's equity method investment in Ynong and its significance under Regulation S-X, indicating the investment is material to the financial statements.
- Negative operating cash flow — Operating cash flow was negative in each year from 2021 through 2025, including negative $2.0M in fiscal 2025.
- Recurring net losses — The company reported net losses of $5.6M, $14.0M, and $11.1M in fiscal 2023, 2024, and 2025, respectively.
- Low cash balance — Cash and equivalents were $390,706 at September 30, 2025, against $5.3M of total liabilities.
Outlook
The provided excerpts contain no management outlook or forward guidance. The amendment is limited to the specified Note 2 and Note 9 revisions and the Ynong financial statements. No post-filing-date events are reflected in the amendment.