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MindForge Inc., together with its subsidiaries, focuses on providing value-added services using artificial intelligence-driven technology to businesses in the insurance industry in China. It offers digital promotion services; risk assessment services; and value-added bundled benefits, including auto maintenance, auto value-added, vehicle moving notification, and other services to property and auto insurance carriers, and insurance brokers. The company also provides insurance-related information to individual consumers; and Magic Mirror algorithm to calculate payout risks for insurance carriers to underwrite auto insurance coverage. The company was formerly known as U-BX Technology Ltd. and changed its name to MindForge Inc. in July 2026. MindForge Inc. was founded in 2018 and is based in Beijing, China.
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| Breakdown | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 |
| Income before tax | -2.95M | -0.61M | 0.24M | -3849.80M | 0.22M |
| Minority interest | - | - | - | 12.68M | - |
| Net income | -2.72M | -0.75M | 0.21M | -3849.84M | -0.05M |
| Selling general administrative | - | 1.57M | 1.46M | 3778.42M | 1.34M |
| Selling and marketing expenses | - | - | - | 903.35M | - |
| Gross profit | 0.25M | 0.69M | 1.61M | 820.50M | 1.47M |
| Reconciled depreciation | - | 0.01M | 0.00M | 102.06M | 0.00M |
| Ebit | -2.92M | -0.59M | 0.25M | -3861.27M | 0.22M |
| Ebitda | -2.90M | -0.58M | 0.25M | -3814.10M | 0.23M |
| Depreciation and amortization | 0.02M | 0.01M | 0.00M | 47.17M | 0.00M |
| Operating income | -3.11M | -0.87M | 0.15M | -3861.27M | 0.13M |
| Other operating expenses | 32.78M | 52.47M | 94.16M | 10812.81M | 86.55M |
| Interest expense | 0.03M | 0.01M | 0.00M | - | 0.00M |
| Tax provision | - | 0.14M | 0.04M | 0.10M | 0.27M |
| Interest income | - | 0.26M | 0.00M | - | 0.00M |
| Net interest income | - | 0.25M | 0.00M | -216.14M | 0.00M |
| Income tax expense | -0.24M | 0.14M | 0.04M | 0.04M | 0.27M |
| Total revenue | 29.67M | 51.60M | 94.32M | 6951.53M | 86.68M |
| Total operating expenses | 3.36M | 1.57M | 1.46M | 4681.77M | 1.34M |
| Cost of revenue | 29.42M | 50.91M | 92.70M | 6131.04M | 85.21M |
| Total other income expense net | 0.15M | 0.27M | 0.09M | 11.47M | 0.10M |
| Net income from continuing ops | - | -0.75M | 0.21M | -1523.56M | -0.05M |
| Breakdown | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 |
| Total assets | 20.98M | 16.79M | 4.85M | 3453.48M | 22.90M |
| Intangible assets | 0.01M | 0.01M | - | 18.01M | - |
| Other current assets | 3.65M | 11.51M | 3.05M | 61.24M | 20.63M |
| Total liab | 1.96M | 2.92M | 3.78M | 3614.06M | 21.99M |
| Total stockholder equity | 19.02M | 13.87M | 1.07M | -169.47M | 0.91M |
| Other current liab | 0.87M | 0.61M | 0.55M | 298.05M | 0.05M |
| Common stock | 0.03M | 0.00M | 0.00M | 0.45M | 0.00M |
| Capital stock | - | 0.00M | 0.00M | 0.45M | 0.00M |
| Retained earnings | -3.76M | -1.23M | -0.21M | -13532.81M | -0.35M |
| Good will | - | - | - | 5.83M | - |
| Cash | 11.18M | 4.83M | 1.29M | 1060.97M | 1.52M |
| Total current liabilities | 1.47M | 2.91M | 3.78M | 3299.30M | 21.99M |
| Current deferred revenue | - | - | 1.78M | 167.64M | 20.90M |
| Net debt | -10.79M | -4.12M | -1.16M | 456.75M | -1.52M |
| Short term debt | 0.40M | 0.71M | 0.14M | 1227.88M | - |
| Short long term debt | - | 0.70M | 0.14M | 5.04M | - |
| Short long term debt total | 0.40M | 0.72M | 0.14M | 1517.71M | - |
| Other stockholder equity | 22.41M | 14.58M | 1.04M | 13434.49M | 1.04M |
| Total current assets | 15.06M | 16.74M | 4.60M | 2457.47M | 22.43M |
| Long term investments | - | - | - | 13.76M | - |
| Short term investments | - | - | - | 843.98M | - |
| Net receivables | 0.23M | 0.40M | 0.26M | 111.34M | 0.28M |
| Inventory | - | - | - | 149.53M | - |
| Accounts payable | 0.20M | 0.72M | 0.57M | 1605.73M | 0.28M |
| Accumulated other comprehensive income | 0.33M | 0.53M | 0.24M | -71.60M | 0.21M |
| Non currrent assets other | 0.01M | 0.02M | 0.25M | 29.12M | 0.47M |
| Non current assets total | 5.92M | 0.05M | 0.25M | 996.01M | 0.48M |
| Capital lease obligations | - | 0.01M | 0.00M | 0.00M | - |
| Breakdown | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-06-30 | 2024-06-30 | 2023-06-30 | 2022-12-31 | 2022-06-30 |
| Investments | - | - | - | 581.25M | - |
| Total cashflows from investing activities | 3.81M | -9.47M | -0.00M | - | -0.00M |
| Net borrowings | - | 0.56M | 0.14M | - | 0.00M |
| Total cash from financing activities | 5.39M | 14.34M | 0.16M | 3691.16M | 0.42M |
| Net income | -2.72M | -0.75M | 0.21M | -3849.84M | -0.05M |
| Change in cash | 6.35M | 3.54M | -0.22M | 174.29M | 0.73M |
| Begin period cash flow | 4.83M | 1.29M | 1.52M | 922.38M | 0.79M |
| End period cash flow | 11.18M | 4.83M | 1.29M | 1096.67M | 1.52M |
| Total cash from operating activities | -2.82M | -1.35M | -0.28M | -2589.04M | 0.36M |
| Issuance of capital stock | - | 13.78M | 0.00M | 0.00M | 0.90M |
| Depreciation | 0.02M | 0.01M | 0.00M | 126.56M | 0.00M |
| Other cashflows from investing activities | 9.68M | -9.46M | - | - | - |
| Change to inventory | -1.57M | 0.93M | 16.65M | 26.58M | -20.82M |
| Change to account receivables | 0.17M | -0.13M | -0.00M | -50.84M | 0.80M |
| Other cashflows from financing activities | - | - | 0.01M | 4498.00M | -0.48M |
| Capital expenditures | 5.78M | 0.01M | 0.00M | 138.33M | 0.00M |
| Change in working capital | -2.26M | -0.75M | -0.49M | 354.41M | 0.42M |
| Stock based compensation | - | - | - | 810.18M | - |
| Other non cash items | 2.13M | 0.13M | -0.00M | 12.11M | -0.01M |
| Free cash flow | -8.60M | -1.37M | -0.29M | -2727.37M | 0.36M |
Sector: Communication Services Industry: Advertising Agencies
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| MF MindForge Inc. |
-1.06 9.23% |
10.43 | - | - | 1.00 | 0.64 | 0.54 |
| APP Applovin Corp |
15.77 6.89% |
244.62 | 49.00 | 31.75 | 30.27 | 77.57 | 30.41 |
| PGPEF Publicis Groupe S.A |
- -% |
109.60 | 15.93 | 11.57 | 1.55 | 2.24 | 1.76 |
| PUBGY Publicis Groupe SA |
0.01 0.04% |
28.26 | 16.35 | 11.74 | 1.57 | 2.27 | 1.76 |
| OMC Omnicom Group Inc |
-1.14 1.35% |
82.86 | 12.68 | 11.89 | 1.17 | 5.11 | 1.58 |
MindForge Inc., together with its subsidiaries, focuses on providing value-added services using artificial intelligence-driven technology to businesses in the insurance industry in China. It offers digital promotion services; risk assessment services; and value-added bundled benefits, including auto maintenance, auto value-added, vehicle moving notification, and other services to property and auto insurance carriers, and insurance brokers. The company also provides insurance-related information to individual consumers; and Magic Mirror algorithm to calculate payout risks for insurance carriers to underwrite auto insurance coverage. The company was formerly known as U-BX Technology Ltd. and changed its name to MindForge Inc. in July 2026. MindForge Inc. was founded in 2018 and is based in Beijing, China.
Zhongguan Science and Technology Park, Beijing, China, 101300
86 10 0651 20297
15
| Name | Title | Year Born |
|---|---|---|
| Mr. Zheng Xu | Founder, Chairman & CEO | 1981 |
| Mr. Yang Li | CTO & Head of on-demand DMW Retail Bus. | 1990 |
| Mr. Jian Chen | Founder, CEO & Director | 1988 |
| Mr. Qingcai Li | Chief Financial Officer | 1986 |
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