BEIJING, Sept. 25, 2025 (GLOBE NEWSWIRE) -- Julong Holding Limited ("Julong" or the "Company") (Nasdaq: JLHL), a growth-oriented provider of intelligent integrated solutions, today announced its unaudited financial results for the six months ended March 31, 2025.
First Half of Fiscal Year 2025 Financial Highlights
-- Revenues increased by 10.0% to RMB102,175 thousand (US$14,080 thousand)
for the six months ended March 31, 2025, from RMB92,846 thousand in the
same period of fiscal year 2024.
-- Gross profit increased by 15.6% to RMB16,719 thousand (US$2,304 thousand)
for the six months ended March 31, 2025, from RMB14,460 thousand in the
same period of fiscal year 2024.
-- Gross margin increased to 16.4% for the six months ended March 31, 2025,
from 15.6% in the same period of fiscal year 2024.
-- Net income increased by 30.2% to RMB11,567 thousand (US$1,594 thousand)
in the six months ended March 31, 2025, from RMB8,887 thousand in the
same period of fiscal year 2024.
Mr. Jiaqi Hu, the founder, Chairman of the Board of Directors, and Chief Executive Officer of Julong, commented, "As a growth-oriented professional provider of intelligent integrated solutions, we are pleased to announce strong operational and financial results in our initial earnings report as a public company. In the first half of fiscal year 2025, we recorded revenue growth of 10% year over year, and signed 144 contracts to provide engineering solutions for intelligent projects, an increase of 76% year over year. Looking ahead, we will focus on expanding our domestic business while broadening our international reach. By leveraging our cutting-edge technologies and growing brand influence as a U.S.-listed company, we aim to become a pioneer in the global expansion of Chinese intelligent construction companies. With our effective business model and scalable, innovative solutions, we are confident of seizing the global market's tremendous opportunities to drive sustainable growth."
Ms. Airu Chen, the Chief Financial Officer of Julong, said, "We drove significant year-over-year increases in revenue and profitability amid an evolving macro environment in the first half of fiscal 2025. Total revenue increased by 10% year over year to RMB102 million, mainly due to the 13.4% year-over-year increase in revenue from our core engineering solutions for intelligent projects business. Our gross profit grew 15.6% and gross margin improved by 0.8 percentage points year over year. Notably, operating income and net income rose 30% and 30.2% year over year respectively, demonstrating our outstanding execution as well as growing benefits of scale. Going forward, our solid financial position and growing competitiveness will empower us to deliver long-term value to our shareholders."
Closing of Initial Public Offering ("IPO")
On June 27, 2025, the Company completed its initial public offering of 1,250,000 Class A ordinary shares at a public offering price of US$4.00 per share. On July 2, 2025, the Company announced the underwriter's full exercise of the over-allotment option to purchase an additional 187,500 Class A ordinary shares at the public offering price from the Company. The total offering size was approximately US$5.75 million before deducting the underwriting discounts and commissions.
Unaudited Financial Results for the First Half of Fiscal Year 2025
Revenues increased by 10.0% to RMB102,175 thousand (US$14,080 thousand) in the six months ended March 31, 2025, from RMB92,846 thousand in the same period of fiscal year 2024, primarily attributable to an increase in the number of intelligent projects for which we provided engineering solutions, and an increase in the average service fee for engineering solutions for intelligent projects.
Revenues from engineering solutions for intelligent projects increased by 13.4% to RMB97,861 thousand (US$13,486 thousand) in the six months ended March 31, 2025, from RMB86,317 thousand in the same period of fiscal year 2024.
Revenues from intelligent project operation and maintenance were RMB4,304 thousand (US$593 thousand) in the six months ended March 31, 2025, compared with RMB4,863 thousand in the same period of fiscal year 2024.
Revenues from sales of equipment and materials of intelligent systems were RMB10 thousand (US$1 thousand) in the six months ended March 31, 2025, compared with RMB1,666 thousand in the same period of fiscal year 2024.
Cost of revenues increased by 9.0% to RMB85,457 thousand (US$11,776 thousand) in the six months ended March 31, 2025, from RMB78,386 thousand in the same period of fiscal year 2024.
Gross profit increased by 15.6% to RMB16,719 thousand (US$2,304 thousand) in the six months ended March 31, 2025, from RMB14,460 thousand in the same period of fiscal year 2024.
Gross margin increased to 16.4% for the six months ended March 31, 2025, from 15.6% in the same period of fiscal year 2024, primarily due to the growing benefits of scale as revenues increased.
Operating expenses decreased by 22.1% to RMB3,106 thousand (US$428 thousand) in the six months ended March 31, 2025, from RMB3,989 thousand in the same period of fiscal year 2024, primarily due to the company's continuous efforts to reduce costs and improve efficiency.
Operating income increased by 30.0% to RMB13,613 thousand (US$1,876 thousand) in the six months ended March 31, 2025, from RMB10,471 thousand in the same period of fiscal year 2024.
Net income increased by 30.2% to RMB11,567 thousand (US$1,594 thousand) in the six months ended March 31, 2025, from RMB8,887 thousand in the same period of fiscal year 2024.
Basic and diluted net income per share increased to RMB0.58 (US$0.08) in the six months ended March 31, 2025, from RMB0.44 per share in the same period of fiscal year 2024.
Balance Sheets
As of March 31, 2025, the Company had cash and cash equivalents, restricted cash of RMB21,366 thousand (US$2,944 thousand), compared with RMB20,772 thousand as of September 30, 2024. Our cash and cash equivalents and restricted cash primarily consist of cash and time deposits with terms of three months or less.
Conference Call
The Company's management will host an earnings conference call at 7:00 AM U.S. Eastern Time on September 25, 2025 (7:00 PM Beijing/Hong Kong time on September 25, 2025). Details for the conference call are as follows:
Event Title: Julong Holding Limited First Half of Fiscal Year 2025
Earnings Conference Call
Registration Link: https://register-conf.media-server.com/register
/BI7d585a76d61344b0a4b32bd2991d5272
Additionally, a live and archived webcast of the conference call will be available on the Company's investor relations website at ir.julongzx.com.
About Julong Holding Limited
Founded in 1997, Julong is a growth-oriented professional provider of intelligent integrated solutions to public utilities, commercial properties, and multifamily residential properties operating at scale in China. The Company's comprehensive suite of intelligent integrated solutions includes systems for intelligent security, fire protection, parking, toll collection, broadcasting, identification, data room, emergency command, and city management. Since its inception, Julong has focused on the successful and on-time execution of complex projects, through its "deliveries before deadline" and "customers first" initiatives. As Julong continues to cross-sell its service and solution offerings and advance its purpose-built technologies, the Company is well-positioned to achieve economies of scale and capture future opportunities.
For more information, please visit: ir.julongzx.com.
Exchange Rate Information
This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars and from U.S. dollars to RMB are made at a rate of RMB7.2567 to US$1.00, the exchange rate on March 31, 2025 set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or U.S. dollar amounts referred could be converted into U.S. dollars or RMB, as the case may be, at any particular rate or at all.
Forward-Looking Statements
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements relating to the anticipated size of the initial public offering and the expected trading commencement and closing dates. These forward-looking statements can be identified by terminology such as "will," "would," "may," "expects," "anticipates," "aims," "future," "continues," "could," "should," "target," "intends," "plans," "believes, " "estimates," "likely to," and similar expressions. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: uncertainties related to market conditions, the satisfaction of customary closing conditions related to the initial public offering, the completion of the initial public offering on the anticipated terms, or at all, and other factors discussed in the "Risk Factors" section of the preliminary and final prospectus that forms a part of the effective registration statement filed with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable
law.
For investor and media inquiries, please contact:
In China:
Investor Relations:
Email: ir@julongzx.com
The Piacente Group, Inc.
Jenny Cai
Tel: +86 (10) 6508-0677
E-mail: julong@thepiacentegroup.com
In the United States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: julong@thepiacentegroup.com
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
As of
September 30, As of March As of March
2024 31, 2025 31, 2025
RMB RMB US$
ASSETS
Current assets
Cash and cash
equivalents 20,618,058 21,273,012 2,931,499
Restricted cash 154,072 93,000 12,816
Accounts receivable
(net of allowance
of RMB641,101 and
RMB738,023 as of
September 30,2024
and March 31, 2025,
respectively) 12,677,175 17,054,250 2,350,138
Other receivable
(net of allowance
of RMB2,630 and nil
as of September 30,
2024 and March 31,
2025,
respectively) 247,550 330,690 45,570
Amounts due from
related parties 4,525,495 3,826,469 527,302
Contract
assets-current (net
of allowance of
RMB2,292,498 and
RMB2,604,481 as of
September 30, 2024
and March 31, 2025,
respectively) 123,079,151 143,633,239 19,793,190
Prepaid expenses and
other current
assets 6,155,161 8,083,461 1,113,931
------------- ------------- -------------
Total current assets 167,456,662 194,294,121 26,774,446
Non-current assets
Property, plant and
equipment, net 97,359 90,242 12,436
Deferred tax assets 572,187 634,369 87,418
Operating lease
right-of-use
assets 127,163 32,161 4,432
Contract
assets-non-current,
net 4,824,870 4,348,188 599,196
------------- ------------- -------------
Total non-current
assets 5,621,579 5,104,960 703,482
------------- ------------- -------------
TOTAL ASSETS 173,078,241 199,399,081 27,477,928
============= ============= =============
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (CONTINUED)
As of
September 30, As of March As of March
2024 31, 2025 31, 2025
------------- -------------- --------------
RMB RMB US$
LIABILITIES
Current
liabilities
Short-term
borrowing - 10,000,000 1,378,037
Accounts
payable 26,759,291 22,038,550 3,036,993
Contract
liabilities 255,740 2,337,063 322,056
Accrued
expenses and
other current
liabilities 108,867,471 128,316,651 17,682,507
Amounts due to
related
parties 14,446,857 610,730 84,161
Income tax
payable 5,277,938 7,153,482 985,776
Operating lease
liabilities,
current
portion 95,003 - -
------------- -------------- --------------
Total current
liabilities 155,702,300 170,456,476 23,489,530
Non-current
liabilities
Total non-current
liabilities - - -
------------- -------------- --------------
TOTAL LIABILITIES 155,702,300 170,456,476 23,489,530
============= ============== ==============
SHAREHOLDERS'
EQUITY
Stock
Subscription
Receivable (14,043) (14,521) (2,001)
Ordinary shares
subscribed
(US$0.0001 par
value,
500,000,000
shares
authorized as
of September
30, 2024 and
March 31,
2025;
20,011,132
shares issued
and
outstanding as
of September
30, 2024 and
March 31,
2025(1) ) 14,043 14,521 2,001
Statutory
reserve 3,267,815 4,424,481 609,710
Retained
earnings 14,108,126 24,518,124 3,378,688
------------- -------------- --------------
TOTAL
SHAREHOLDERS'
EQUITY 17,375,941 28,942,605 3,988,398
------------- -------------- --------------
TOTAL LIABILITIES
AND SHAREHOLDERS'
EQUITY 173,078,241 199,399,081 27,477,928
============= ============== ==============
(1) Giving retroactive effect to Reorganization transactions.
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
AND COMPREHENSIVE INCOME
Six Months Ended March 31,
------------------------------------
2024 2025 2025
RMB RMB US$
Revenues 92,845,812 102,175,246 14,080,125
---------- ----------- ----------
Cost of revenues 78,385,993 85,456,746 11,776,254
---------- ----------- ----------
Gross profit 14,459,819 16,718,500 2,303,871
---------- ----------- ----------
Operating expenses:
Selling, general and
administrative expenses 3,988,800 3,105,980 428,015
---------- ----------- ----------
Total operating expenses 3,988,800 3,105,980 428,015
---------- ----------- ----------
Operating income 10,471,019 13,612,520 1,875,856
Interest (expense) income,
net 6,152 (936) (129)
Other income, net - 263 36
---------- ----------- ----------
Income before income taxes 10,477,171 13,611,847 1,875,763
---------- ----------- ----------
Income tax expenses 1,589,833 2,045,183 281,834
---------- ----------- ----------
Net income 8,887,338 11,566,664 1,593,929
Other comprehensive income,
net of tax of nil: - - -
---------- ----------- ----------
Comprehensive income 8,887,338 11,566,664 1,593,929
========== =========== ==========
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES
IN SHAREHOLDERS' EQUITY
Total Julong
Accumulated Holding
Stock Additional other Limited
Subscription paid-in Statutory comprehensive (Accumulated deficit)/Retained shareholders' Non-controlling Total
Ordinary shares Receivable capital reserve income earnings equity interest equity
------------------ ------------ ----------- --------- ------------- ------------------------------ ------------- --------------- -----------
Number RMB RMB RMB RMB RMB RMB RMB RMB RMB
Balance as of
September 30,
2023 20,011,132 14,600 (14,600) 52,000,000 1,560,196 - 5,838,058 59,398,254 - 59,398,254
========== ====== ============ =========== ========= ============= ============================== ============= =============== ===========
Net income for
the year - - - - - - 8,887,338 8,887,338 - 8,887,338
Provision of
statutory
reserve - - - - 888,734 - (888,734) - - -
Reorganization
in February
2024 - - - (52,000,000) - - (7,098,500) (59,098,500) - (59,098,500)
Foreign
currency
translation
adjustment - (151) 151 - - - - - - -
Balance as of
March 31,
2024 20,011,132 14,449 (14,449) - 2,448,930 - 6,738,162 9,187,092 - 9,187,092
---------- ------ ------------ ----------- --------- ------------- ------------------------------ ------------- --------------- -----------
Balance as of
September 30,
2024 20,011,132 14,043 (14,043) - 3,267,815 - 14,108,126 17,375,941 - 17,375,941
Net income for
the year - - - - - - 11,566,664 11,566,664 - 11,566,664
Provision of
statutory
reserve - - - - 1,156,666 - (1,156,666) - - -
Foreign
currency
translation
adjustment - 478 (478) - - - - - - -
Balance as of
March 31,
2025 20,011,132 14,521 (14,521) - 4,424,481 - 24,518,124 28,942,605 - 28,942,605
========== ====== ============ =========== ========= ============= ============================== ============= =============== ===========
JULONG HOLDING LIMITED
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH
FLOWS
Six Months Ended March 31,
--------------------------------------
2024 2025 2025
RMB RMB US$
----------- ----------- ----------
CASH FLOWS FROM OPERATING
ACTIVITIES
Net income 8,887,338 11,566,664 1,593,929
Adjustments to reconcile
net income to net cash
provided by (used in)
operating activities:
Depreciation of property,
plant and equipment 17,690 7,117 981
Amortization of the
right-of-use assets 90,695 95,003 13,092
Provision of allowance for
doubtful accounts 280,208 94,292 12,994
Provision of allowance for
contract assets 95,174 311,983 42,992
Changes in operating assets
and liabilities
Accounts receivable (986,247) (4,473,997) (616,533)
Other receivable (97,484) (80,510) (11,095)
Prepaid expenses and other
current assets 644,397 (759,161) (104,615)
Contract assets 7,890,313 (20,866,070) (2,875,421)
Amount due from related
parties 20,841,246 699,026 96,328
Deferred tax assets (56,182) (62,182) (8,569)
Non-current assets (472,905) 476,681 65,688
Accounts payable 11,417,068 (4,720,741) (650,536)
Accrued expenses and other
current liabilities 1,441,732 16,811,087 2,316,630
Income tax payable 1,990,524 1,875,544 258,457
Contract liabilities (5,492,726) 2,081,323 286,814
Amount due to related
parties 15,070,141 (13,836,127) (1,906,669)
Lease liabilities (90,695) (95,003) (13,092)
Other Current liabilities 119,707 2,638,092 363,539
----------- ----------- ----------
Net cash provided by (used
in) operating activities 61,589,994 (8,236,979) (1,135,086)
CASH FLOWS FROM INVESTING
ACTIVITIES
Acquisition of Julong
Online (59,098,500) - -
----------- ----------- ----------
Net cash (used in)
investing activities (59,098,500) - -
CASH FLOWS FROM FINANCING
ACTIVITIES
Repayment of short-term
borrowing (10,000,000) 10,000,000 1,378,037
Payment of deferred
offering costs (4,835,479) (1,169,139) (161,112)
----------- ----------- ----------
Net cash (used in) provided
by financing activities (14,835,479) 8,830,861 1,216,925
----------- ----------- ----------
Net (decrease) increase in
cash, cash equivalents and
restricted cash (12,343,985) 593,882 81,839
Cash, cash equivalents and
restricted cash at
beginning of the period 25,614,931 20,772,130 2,862,476
----------- ----------- ----------
Cash, cash equivalents and
restricted cash at end of
the period 13,270,946 21,366,012 2,944,315
=========== =========== ==========
(END) Dow Jones Newswires
September 25, 2025 05:00 ET (09:00 GMT)