{"url_path":"/sec/tc/10-k/2026/item-8","section_key":"item-8","section_title":"Item 8 FINANCIAL INFORMATION**","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1743340/0001213900-26-053942-index.html","accession_number":"0001213900-26-053942","cik":"0001743340","ticker":"TC","issuer_name":"Token Cat Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1743340/0001213900-26-053942-index.html","primary_entity_key":"0001743340","primary_entity_name":"Token Cat Ltd"},"word_count":478,"has_tables":true,"body_markdown":"** **\n\n**ITEM\n8. FINANCIAL INFORMATION**\n\n** **\n\n**A\nConsolidated Statements and Other Financial Information**\n\n \n\nWe\nhave appended consolidated financial statements filed as part of this annual report.\n\n** **\n\n**Legal\nProceedings**\n\n \n\nSee\n“Item 4. Information on the Company-B. Business Overview-Legal Proceedings.”\n\n** **\n\n**Dividend\nPolicy**\n\n \n\nWe\nhave not declared or paid any dividends. We do not have any present plans to pay any cash dividends on our ordinary shares or the ADSs\nin the foreseeable future. We currently intend to retain most, if not all, of our available funds and any future earnings to operate\nand expand our business.\n\n \n\nOur\nboard of directors has complete discretion in deciding the payment of any future dividends, subject to applicable laws. In addition,\nour shareholders may by ordinary resolution declare a dividend, but no dividends may exceed the amount recommended by our board of directors.\nUnder Cayman Islands law, a Cayman Islands company may pay a dividend on its shares out of its profits, realized or unrealized, or from\nany reserve set aside from profits which its directors determine is no longer required or out of the share premium account, provided\nthat in no circumstances may a dividend be paid if this would result in the company being unable to pay its debts due in the ordinary\ncourse of business. In addition, our shareholders may by ordinary resolution declare a dividend, but no dividend may exceed the amount\nrecommended by our board of directors. The declaration and payment of dividends will depend upon, among other things, our future operations\nand earnings, capital requirements and surplus, our financial condition, contractual restrictions, general business conditions and other\nfactors as our board of directors may deem relevant.\n\n \n\nWe\nare a holding company incorporated in the Cayman Islands. We may rely on dividends from our subsidiaries in China for our cash requirements,\nincluding any payment of dividends to our shareholders. PRC regulations may restrict the ability of our PRC subsidiaries to pay dividends\nto us. See “Item 3. Key Information-D. Risk Factors-Risks Related to Doing Business in China-Our subsidiaries in China are subject\nto restrictions on making dividends and other payments to us.”\n\n \n\nIf\nwe pay any dividends, we will pay those dividends which are payable in respect of the Class A ordinary shares underlying the ADSs to\nthe depositary, as the registered holder of such Class A ordinary shares, and the depositary will then pay such amounts to the ADS holders\nin proportion to the Class A ordinary shares underlying the ADSs held by such ADS holders, subject to the terms of the deposit agreement,\nincluding the fees and expenses payable thereunder. Cash dividends on our Class A ordinary shares, if any, will be paid in U.S. dollars.\n\n** **\n\n**B.\nSignificant Changes**\n\n \n\nExcept\nas disclosed elsewhere in this annual report, we have not experienced any significant changes since the date of our audited consolidated\nfinancial statements included in this annual report.\n\n \n\n86"}