Lichen International Ltd reported a sharp revenue decline to $24.5 million in 2025 from $41.5 million in 2024, resulting in a net loss exceeding $21 million. The company held an extraordinary general meeting approving a substantial increase in authorized share capital to support expansion and strategic initiatives. Its core business, financial and taxation consulting services in China, faces intensifying competition and evolving regulations, partly addressed by its growing investment in AI software development. While liquidity remains robust with over $26 million cash on hand, operational challenges persist, notably declining revenues and goodwill impairments. Strategic growth will hinge on successful integration of AI, broadened service offerings, and acquisitions in a complex regulatory landscape.