What is XChange TEC.INC's Shariah compliance score?

XChange TEC.INC (XHG) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does XChange TEC.INC pass AAOIFI screening?

XChange TEC.INC (XHG) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. XHG's debt-to-market-cap is 86.5%.

How much purification is needed for XChange TEC.INC?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for XChange TEC.INC (XHG) using the latest financial data.

Where can I screen XChange TEC.INC for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for XChange TEC.INC (XHG) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

XHGNot HalalF

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Compliance Status

Not Halal

Screened on Oct 10, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is XChange TEC.INC (XHG) halal? Not Halal. Based on AAOIFI screening, XChange TEC.INC has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates XChange TEC.INC (XHG) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 10, 2026. Source: https://halalscreener.app/en/stock/XHG

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

86.5% of 30.0% limit

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The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding XHG

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

XHG: Is XChange TEC.INC Halal?

XChange TEC.INC

NASDAQFinancial ServicesCN

$2.28

Market Cap: 117.5M

Screened on a market cap of 785.4M

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About XChange TEC.INC

XChange TEC.INC, together with its subsidiaries, engages in the insurance agency and insurance technology businesses primarily to individual end consumers in the People’s Republic of China. The company provides a various insurance products underwritten by insurance companies, including industry state-owned property and casualty insurance companies, as well as certain regional property and casualty insurance companies. It offers automobile, life, health, group accident, and other property related insurance products. In addition, the company operates a SaaS platform to offers comprehensive services to offline and online customers. It sells insurance primarily through a network of external referral sources that include external registered sales representatives, distribution channel partners, and through its in-house sales force. The company was formerly known as FLJ Group Limited and changed its name to XChange TEC.INC in May 2024. XChange TEC.INC was founded in 2007 and is based in Shanghai, the People’s Republic of China.

Sector: Financial Services · Industry: Insurance - Brokers

Why this does not pass

Business activity: the company earns from an activity AAOIFI treats as prohibited.
Interest-bearing debt is 86.5% of market cap, over the 30% AAOIFI limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 10, 2026

See which ratio caused the failure.

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See why XHG is rated Not Halal with institutional-grade analysis

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited industry: Insurance - Brokers

Compliance History

Not Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: FMP

Halal Alternatives in Financial Services

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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$384.58

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iShares Silver Trust

$54.78

PSLVA+

Sprott Physical Silver Trust

$19.89

PHYSA+

Sprott Physical Gold Trust

$31.70

CEFA+

Sprott Physical Gold and Silver Trust

$41.67

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Frequently Asked Questions

Is XChange TEC.INC (XHG) halal to invest in?

XChange TEC.INC (XHG) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did XChange TEC.INC get a F compliance rating?

XChange TEC.INC (XHG) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 86.5% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change XChange TEC.INC's Shariah verdict?

XChange TEC.INC's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is XChange TEC.INC re-screened for Shariah compliance?

XChange TEC.INC (XHG) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 10, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.