Lucide Ledger

A filing-first public record from Lucide House.

Issue 002 | U.S. Pilot | US

HUDI

Huadi International Group Co., Ltd.

Screen state: Passing Source state: Verified 20-F | 2026-01-30 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 69.3%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
70,287,237USD
Total Liabilities
33,711,230USD
NCAV
36,576,007USD
Cash
6,483,489USD
NCAV per share
3.36USD/share
Evidence
6 annual | 9 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Only 9 quarterly periods available from Data Vault for this company.

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-09-30
20-F
USD
2024-09-30
20-F
USD
2023-09-30
20-F
USD
2022-09-30
20-F
USD
2021-09-30
20-F
USD
2020-09-30
20-F
USD
Revenue 62,895,611 74,270,429 1,219,041 76,366,148 3,239,956 1,370,197
Operating Income -2,884,006 -1,608,481 3,110,625 2,352,541 2,577,979 4,460,585
Net Income -1,395,927 137,422 3,257,722 1,924,202 2,557,045 3,356,299
Cash From Operations -8,480,674 12,993,841 -2,447,726 8,027,856 -5,648,806 3,204,290
Capex -1,457,008 -308,631 -157,571 -206,175 -917,539 -664,996
Free Cash Flow -9,937,682 12,685,210 -2,605,297 7,821,681 -6,566,345 2,539,294
Cash And Equivalents 6,483,489 18,118,456 20,192,460 13,195,999 15,350,197 796,794
Accounts Receivable 24,773,841 18,713,342 22,630,275 19,658,188 25,278,958 15,533,077
Inventory 24,084,711 23,312,978 26,706,629 24,867,708 22,721,265 20,837,594
Total Current Assets 70,287,237 77,472,209 80,236,716 64,401,855 77,080,673 47,347,153
Total Assets 109,523,537 103,594,531 103,010,786 84,636,527 100,245,863 69,123,370
Total Current Liabilities 24,307,129 23,828,193 22,610,447 25,701,961 48,767,449 n/a
Total Liabilities 33,711,230 25,277,092 28,326,976 35,002,586 48,767,449 43,334,670
Shareholders Equity 75,514,305 78,003,226 74,408,992 49,383,508 51,213,908 25,564,287
Shares Outstanding 14,299,182 14,279,182 14,259,182 13,239,182 13,127,000 10,000,000
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 14,277,484 14,268,333 14,138,525 13,228,682 12,116,079 10,000,000
Weighted Avg Shares Basic 14,277,484 14,268,333 14,138,525 13,228,682 12,116,079 10,000,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 9 quarterly periods available from Data Vault for this company.

Metric
2025-03-31
6-K
USD
2024-09-30
6-K
USD
2024-03-31
6-K
USD
2023-09-30
6-K
USD
2023-03-31
6-K
USD
2022-09-30
6-K
USD
2022-03-31
6-K
USD
2021-09-30
6-K
USD
2021-03-31
6-K
USD
Revenue 29,378,727 74,270,429 37,082,786 84,332,300 618,897 76,366,148 912,205 3,239,956 n/a
Operating Income -414,093 -1,608,481 194,840 3,110,625 1,451,959 2,352,541 653,973 2,577,979 681,576
Net Income 145,906 137,422 804,512 3,257,722 1,436,585 1,948,054 -9,058 2,557,045 642,331
Cash From Operations -10,899,394 12,993,841 -5,463,293 -2,447,726 -565,337 8,027,856 10,133,664 -5,648,806 2,000
Capex -75,244 -308,631 -81,163 -157,571 -53,908 -206,175 -71,552 -917,539 -578,739
Free Cash Flow -10,974,638 12,685,210 -5,544,456 -2,605,297 -619,245 7,821,681 10,062,112 -6,566,345 -576,739
Cash And Equivalents 9,205,552 18,118,456 7,803,550 20,192,460 19,754,552 13,195,999 16,848,069 15,350,197 n/a
Total Current Assets 71,124,370 77,472,209 70,257,086 80,236,716 77,371,976 64,401,855 67,993,486 77,080,673 n/a
Total Liabilities 23,208,575 25,277,092 16,913,837 28,326,976 21,672,426 35,002,586 39,168,489 48,767,449 n/a
Shares Outstanding 14,279,182 14,279,182 14,259,182 14,259,182 14,239,182 13,239,182 13,192,232 13,127,000 n/a
Shares Outstanding Diluted n/a n/a n/a n/a n/a n/a n/a n/a n/a
Weighted Avg Shares Diluted 14,279,182 14,268,333 14,259,182 14,138,525 14,028,071 13,228,682 13,192,232 12,116,079 11,041,667
Weighted Avg Shares Basic 14,279,182 14,268,333 14,259,182 14,138,525 14,028,071 13,228,682 13,192,232 12,116,079 11,041,667
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 71,124,370USD us-gaap:AssetsCurrent 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Total Liabilities 23,208,575USD us-gaap:Liabilities 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Cash 9,205,552USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Shares Outstanding 14,279,182 us-gaap:CommonStockSharesOutstanding 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
NCAV 47,915,795USD derived 2025-03-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 3.36USD derived 2025-03-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 69.3% derived 2025-03-31 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001791725
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001791725/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
9
Imported At
2026-08-15T12:52:11+00:00
Rendered At
2026-08-16T03:29:43+00:00

Run Audit

Mary Run
f75c5d221f074da8a489fba328e8ef51
Mary As Of
2026-07-18
Accession
0001213900-26-010177
CIK
0001791725
Mary Filing Date
2026-01-30
Filing Currency
USD
Internal Discount
69.3%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=f75c5d221f074da8a489fba328e8ef51; mary_as_of=2026-07-18; mary_filing_date=2026-01-30; mary_accession=0001213900-26-010177; mary_cik=0001791725; gnni_supporting_filing_date=2026-01-30; internal_discount=0.6935; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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