HONG KONG, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (the "Company" or "Powell Max"), a financial communications services provider headquartered in Hong Kong, today announced its unaudited interim condensed financial results for the six months ended June 30, 2025.
Overview:
-- Revenue was HK$23.9 million (US$3.1 million) for the six months ended
June 30, 2025, representing an increase of 5.3% for the same period in
2024.
-- Net loss was HK$20.4 million (US$2.6) for the six months ended June 30,
2025, as compared with the profit of HK$0.8 million for the same period
in 2024.
Six Month Financial Results Ended June 30, 2025
Revenue. Revenue increased by 5.3% from HK$22.7 million for the six months ended June 30, 2024 to HK$23.9 million (US$3.1 million) for the six months ended June 30, 2025, which was mainly contributed by the revenue of HK$1.5 million (US$0.2 million) from Miracle Media Production Limited ("Miracle Media"), following the completion of the acquisition of Miracle Media on February 28, 2025.
General and administrative expenses. General and administrative expenses increased by 4.9 times from HK$6.0 million for the six months ended June 30, 2024 to HK$29.4 million (US$3.8 million) for the six months ended June 30, 2025, which was mainly due to (i) an increase in the number of staff and the general and administrative expenses after the completion of acquisition of Miracle Media on February 28, 2025, (ii) the incurrence of issuance expenses relating to the standby equity purchase agreement entered into in November 2024, and (iii) an increase in the professional fee and post-listing expenses in related thereto.
Selling and distribution expenses. Selling and distribution expenses increased by 10.0% from HK$3.0 million for the six months ended June 30, 2024 to HK$3.3 million (US$0.4 million) for the six months ended June 30, 2025, which was mainly due to an increase in the number of staff in our sales team and an increase in other expenses on business development and marketing. In light of the reduction of capital market activities in Hong Kong, we have engaged extra resources on sales and marketing with the view to maintain our market presence.
Net loss. Net loss for the period ended June 30, 2025 was HK$20.4 million (US$2.6 million), as compared with the net profit of HK$0.8 million for the same period in 2024, which was mainly due to the increase in general and administrative expenses, and selling and distribution expenses.
Basic and diluted loss per share. Basic and diluted loss per share was HK$1.07 (US$0.14) per ordinary share for the six months ended June 30, 2025, as compared to a basic and diluted earning per share of HK$0.06 per ordinary share for the six months ended June 30, 2024.
About Powell Max Limited
Powell Max Limited is a financial communications services provider headquartered in Hong Kong. The Company engages in the provision of financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Its financial communications services cover a full range of financial printing, corporate reporting, communications and language support services from inception to completion, including typesetting, proofreading, translation, design, printing, electronic reporting, newspaper placement and distribution. The Company's clients consist of domestic and international companies listed in Hong Kong, together with companies who are seeking to list in Hong Kong, as well as their advisors.
Exchange Rate Information
The Company is a holding company with operations conducted in Hong Kong through JAN Financial Press Limited ("JAN Financial") and Miracle Media, its operating subsidiaries. The reporting currency of JAN Financial and Miracle Media is Hong Kong dollars. The Hong Kong dollar is pegged to the U.S. dollar at a range of HK$7.75 to HK$7.85 to US$1. Unless otherwise noted, all translations from Hong Kong dollars to United States Dollars in this press release were calculated the noon middle rate of US$1 -- HK$7.8499, as published in the H.10 statistical release of the Board of Governors of the Federal Reserve System on June 30, 2025. No representation is made that the HK$ amount represents or could have been, or could be, converted, realized or settled into US$ at that rate, or at any other rate.
Forward-Looking Statements
This press release contains certain forward-looking statements. Words such as "will," future," "expects," "believes," and "intends," or similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to inherent uncertainties in predicting future results and conditions. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Rounding Amounts and Percentages
Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding.
For investor and media inquiries, please contact:
Company Info:
Powell Max Limited
Investor Relations
ir@janfp.com
(852) 2158 2888
POWELL MAX LIMITED AND ITS SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF
DECEMBER 31, 2024 AND
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF
FINANCIAL POSITION AS OF JUNE 30, 2025
As of As of
December 31, June 30,
2024 2025
(audited) (unaudited)
-------------- ------------------------
HK$ HK$ US$
ASSETS
Non-current
assets
Goodwill -- 28,116,846 3,581,809
Property, plant
and equipment 4,253,686 7,861,254 1,001,447
------------- ----------- ----------
Total non-current
assets 4,253,686 35,978,100 4,583,256
------------- ----------- ----------
Current assets
Trade and other
receivables 16,096,160 15,018,674 1,913,231
Cash and bank
balances 42,222,014 8,894,909 1,133,124
------------- ----------- ----------
Total current
assets 58,318,174 23,913,583 3,046,355
------------- ----------- ----------
Total assets 62,571,860 59,891,683 7,629,611
============= =========== ==========
LIABILITIES AND
EQUITY
Current
liabilities
Trade and other
payables 12,990,458 11,930,106 1,519,778
Contract
liabilities 1,310,435 622,226 79,265
Bank borrowings 3,845,863 3,368,086 429,061
Lease liabilities 1,376,122 2,910,354 370,751
Derivative 6,756,516 -- --
Convertible
promissory
notes 13,860,647 -- --
------------- ----------- ----------
Total current
liabilities 40,140,041 18,830,772 2,398,855
------------- ----------- ----------
Non-current
liabilities
Trade and other
payables 150,000 150,000 19,109
Lease liabilities 1,014,182 3,357,693 427,737
------------- ----------- ----------
Total non-current
liabilities 1,164,182 3,507,693 446,846
------------- ----------- ----------
Total liabilities 41,304,223 22,338,465 2,845,701
============= =========== ==========
Equity
attributable to
owners of the
Company
Share capital 11,457 15,253 1,943
Accumulated
losses (33,754,822) (54,477,277) (6,939,869)
Reserves 55,011,002 92,015,242 11,721,836
------------- ----------- ----------
Total equity 21,267,637 37,553,218 4,783,910
------------- ----------- ----------
Total liabilities
and equity 62,571,860 59,891,683 7,629,611
============= =========== ==========
POWELL MAX LIMITED AND ITS SUBSIDIARIES
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2025
Six months ended June 30,
----------------------------------------
2024 2025
(unaudited) (unaudited)
------------- ------------------------
HK$ HK$ US$
Revenue 22,732,219 23,943,656 3,050,186
Cost of sales (12,549,020) (12,938,874) (1,648,285)
------------ ----------- ----------
Gross profit 10,183,199 11,004,782 1,401,901
Other income and
gain 26,247 2,628,073 334,790
General and
administrative
expenses (6,000,158) (29,440,811) (3,750,469)
Selling and
distribution
expenses (3,005,905) (3,347,044) (426,381)
Allowance of
expected credit
loss - trade
receivables (228,666) (730,257) (93,028)
------------ ----------- ----------
Profit/(Loss) from
operations 974,717 (19,885,257) (2,533,187)
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