JIANGYIN, China, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Li Bang International Corporation Inc. ("Li Bang International") and its subsidiaries (collectively, the "Company," "we," "us," "our company," or "Li Bang") (Nasdaq: LBGJ), a company engaged in designing, developing, producing, and selling stainless steel commercial kitchen equipment in China, today announced its audited financial results for the fiscal year ended June 30, 2025.
Highlights for Fiscal Year Ended June 30, 2025
-- Total revenue increased 2.9% to approximately $11.1 million for the year
ended June 30, 2025 from approximately $10.8 million for fiscal year
2024.
-- Gross profit increased 4.1% to approximately $3.2 million for the year
ended June 30, 2025, compared to approximately $2.7 million for fiscal
year 2024. Gross margin improved by 4.1 percentage points, to 29.2% for
the year ended June 30, 2025, from 25.1% for fiscal year 2024.
-- Net loss was kept being narrowed to approximately $1.0 million for fiscal
year 2025 from approximately $1.4 million in 2024.
Mr. Huang Feng, Chief Executive Officer and Chairman of Li Bang, commented: "We made measurable progress for the year ended June 30, 2025 versus the prior year. Total revenue increased by 2.9% to $11.1 million, gross profit grew to $3.2 million and gross margin also expanded to 29.2% from 25.1%, all contributing to a narrowed net loss of approximately $1.0 million, a 26.1% improvement year over year."
"Against the industry backdrop of softer raw--material costs and continued demand variability in project-based markets, the Company has benefited from both input-cost tailwinds and disciplined pricing. Past investments in regional expansion and channel testing informed a leaner marketing approach in 2025, and improved collections have reduced provisioning pressure. The Company remains mindful that market cycles, stainless--steel pricing and end--market demand will influence near--term performance."
"Looking ahead, we will prioritize sustainable revenue growth, margin protection and liquidity. The Company will pursue customer and geographic diversification to increase higher--margin project sales, secure supplier terms to mitigate raw--material volatility, and scale the retail channel selectively. Li Bang is also actively looking for acquisition opportunities across upstream and downstream sectors and expects to make progress within the next six months, with timely updates to the market. Meanwhile we will manage discretionary spend and focus on converting backlog into cash to support operations and corporate development."
Audited Financial Results for Fiscal Years Ended June 30, 2025 and 2024
2025 2024 Variance
------------------ ------------------ ----------
In USD million
except
percentages,
differences
due to % of % of
rounding. Amount revenue Amount revenue %
-------- ------- -------- -------
Revenues $ 11.1 100.0% $ 10.8 100.0% 2.9%
Cost of
revenues (7.9) (70.8)% (8.1) (74.9)% (2.8)%
---- ------- ---- ------- ------
Gross profit 3.2 29.2% 2.7 25.1% 20.0%
---- ------- ---- ------- ------
Total
operating
expenses 4.6 41.5% 4.4 40.9% 4.1%
---- ------- ---- ------- ------
Loss from
operations (1.4) (12.3)% (1.7) (15.8)% (21.0)%
---- ------- ---- ------- ------
Net loss
attributable
to ordinary
shareholders $ (1.0) (9.2)% (1.4) (12.7)% (26.1)%
==== ======= ==== ======= ======
Revenues
Total revenue increased by $312,063, or 2.9% to approximately $11.1 million for the year ended June 30, 2025 from approximately $10.8 million for fiscal year 2024. The increase was attributable to the increase in the revenue from project sales and retail sales.
-- Revenues from project sales increased by $219,298 or 2.1% to
approximately $10.6 million for the year ended June 30, 2025 from
approximately $10.4 million for fiscal year 2024. The increase was
primarily due to the increase in average project price.
-- Revenues from retail sales increased by $92,765 or 25.2% to approximately
$0.5 million for the year ended June 30, 2025 from approximately $0.4
million for fiscal year 2024. The change in retail revenues is due
primarily to 19 more retail orders completed in the year ended June 30,
2025 compared to fiscal year 2024.
Cost of Revenues
Total cost of revenues was approximately $7.9 million for the year ended June 30, 2025, compared to approximately $8.1 million for fiscal year 2024.
-- Cost of project sales decreased by $299,915, or 3.8%, to approximately
$7.5 million for the year ended June 30, 2025 from approximately $7.8
million for fiscal year 2024. The decrease was due primarily to the
decrease in nthe prices of raw materials. The highest unit price of main
materials (stainless steel) decreased by 8.3% in fiscal year 2025.
-- Cost of retail sales increased by $71,137 or 26.2% to approximately $0.3
million for the year ended June 30, 2025 from approximately $0.27 for
fiscal year 2024. The increase was due mainly to the increase in the
completion and delivery of retail projects in fiscal year 2025.
Gross Profit
Gross profit was approximately $3.2 million for the year ended June 30, 2025, an increase of $540,841 from approximately $2.7 million for fiscal year 2024. Gross margin increased by 4.1%, to 29.2% for the year ended June 30, 2025, from 25.1% for fiscal year 2024.
-- Gross profit for project sales increased by $519,213 to approximately
$3.1 million for the year ended June 30, 2025, as compared to
approximately $2.6 million for fiscal year 2024. The increase was due to
higher average project price in couple with lower cost of main materials
(stainless steel) in the year ended June 30, 2025.
-- Gross profit for retail sales increased to $118,222 for the year ended
June 30, 2025 from $96,594 for fiscal year 2024.
The Company expect to expand market, develop new customers, and enhance operational efficiency to improve gross margin.
Operating Expenses
Operating expenses were approximately $4.6 million for the year ended June 30, 2025, compared to approximately $4.4 million for fiscal year 2024.
-- Selling expenses decreased by 10.7% to approximately $0.7 million for the
year ended June 30, 2025, down from approximately $0.8 million in fiscal
year 2024, primarily due to reduced market expansion costs following
expansion into new regions in the previous year as the Company refined
its marketing strategy in fiscal year 2025.
-- General and administrative expenses increased by 14.3% to approximately
$2.9 million, up from approximately $2.5 million in fiscal year 2024,
mainly due to higher consulting fees, partially offset by decreased
depreciation expenses. The Company anticipates further increases in these
expenses post-IPO.
-- The provision for expected credit losses decreased by 8.2% to
approximately $1.0 million, down from approximately $1.1 million in
fiscal year 2024, driven by favorable collection experience.
Other Income, Net
Other income, net increased by $131,331, or 22.4%, to approximately $0.7 million for the year ended June 30, 2025, from approximately $0.6 million for fiscal year 2024. The increase was mainly due to increase in government subsidies and in interest income from fixed deposits and loan receivable, which was partially offset by decrease in consulting service revenue.
Net Loss
Net loss attributable to the Company's ordinary shareholders decreased by $357,566, or 26.1% from approximately 1.4 million for the year ended June 30, 2024, to $1.0 million for the year ended June 30, 2025.
Balance Sheet
As of June 30, 2025 the Company had cash of $933,826, compared to $153,914 as of June 30, 2024.
About Li Bang International Corporation Inc.
Li Bang International Corporation Inc. (Nasdaq: LBGJ) specializes in the development, production, and sale of stainless-steel commercial kitchen equipment under its own "Li Bang" brand in China. In addition to its product offerings, the Company provides comprehensive services from early-stage design of commercial kitchen appliances to equipment installation and after-sales maintenance. Committed to innovation and high-quality, the Company uses modern production facilities and mature procedures and strives to become a first-class commercial kitchen appliance manufacturer in China. The Company's long-term vision is to establish itself as a household name, synonymous with the products it manufactures. For more information, please visit the company's website at https://ir.libangco.cn.
Forward Looking Statements
Certain statements in this announcement constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may", "could", "will", "should", "would", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "project" or "continue" or the negative of these terms or other comparable terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's financial results filings with the U.S. Securities and Exchange Commission.
CONTACTS
Li Bang International Corporation Inc.
Investor Relations Department
Email: guanli@libangco.cn
WFS Investor Relations
Email: services@wealthfsllc.com
Phone: +1 628 283 9214
LI BANG INTERNATIONAL CORPORATION INC.
CONSOLIDATED BALANCE SHEETS
As of June 30,
-------------------------
2025 2024
----------- -----------
ASSETS
Current Assets:
Cash $ 933,826 $ 153,914
Restricted cash 145,739 80,293
Fixed deposits 2,654,150 -
Accounts receivable, net 12,280,554 12,286,665
Notes receivable 29,544 172,348
Advances to suppliers, net 781,590 991,518
Inventories 1,513,758 1,750,369
Loans receivable 1,000,000 -
Prepaid expenses and other
current assets, net 600,927 283,061
---------- ----------
Total current assets 19,940,088 15,718,168
---------- ----------
Non-current assets:
Fixed deposits - 2,665,993
Non-current accounts receivable 517,810 670,146
Non-current loans receivable 3,515,050 -
Prepayment for land use rights - 1,403,154
Deferred offering costs - 588,013
Property and equipment, net 2,633,046 2,790,891
Intangible assets, net 522,560 539,925
Deferred tax assets, net 690,158 533,345
Other non-current assets 15,779 169,933
---------- ----------
Total non-current assets 7,894,403 9,361,400
---------- ----------
Total Assets $27,834,491 $25,079,568
========== ==========
LIABILITIES AND EQUITY
Current Liabilities:
Short-term loans $ 7,501,467 $ 6,857,415
Accounts payable 4,075,878 4,694,905
Advances from customers 926,830 1,027,164
Taxes payable 3,268,416 3,273,227
Due to related parties 210,490 131,574
Other payables and other current
liabilities 963,789 1,033,729
---------- ----------
Total current liabilities 16,946,870 17,018,014
---------- ----------
Non-current Liabilities:
Long-term loans 3,073,227 3,806,557
---------- ----------
Total non-current liabilities 3,073,227 3,806,557
---------- ----------
Total Liabilities 20,020,097 20,824,571
---------- ----------
Commitments and Contingencies - -
Equity:
Ordinary shares (par value
$0.0001 per share, 500,000,000
shares authorized, 18,748,000
and 17,000,000 shares issued
and outstanding as of June 30,
2025 and 2024, respectively) 1,875 1,700
Subscription receivable (1,699) (1,699)
Additional paid-in capital 6,831,401 2,236,677
Statutory reserves 800,096 755,100
Retained earnings 525,406 1,583,977
Accumulated other comprehensive
loss (279,104) (258,907)
---------- ----------
Total shareholders' equity of the
Company 7,877,975 4,316,848
Non-controlling interests (63,581) (61,851)
---------- ----------
Total Equity 7,814,394 4,254,997
---------- ----------
Total Liabilities and Equity $27,834,491 $25,079,568
========== ==========
LI BANG INTERNATIONAL CORPORATION INC.
CONSOLIDATED STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE
(LOSS) INCOME
For the Years Ended
June 30,
2025 2024 2023
Revenues:
Project revenues $10,645,337 $10,426,039 $13,581,021
Retail revenues 460,741 367,976 423,527
Total revenues 11,106,078 10,794,015 14,004,548
Cost of revenues (7,857,589) (8,086,367) (8,246,591)
Gross profit 3,248,489 2,707,648 5,757,957
Operating expenses:
Selling and
marketing 742,029 831,252 650,268
General and
administrative 2,867,091 2,509,143 2,646,569
Provision for
expected credit
losses 995,725 1,084,649 1,213,483
Total operating
expenses 4,604,845 4,425,044 4,510,320
(Loss) income from
operations (1,356,356) (1,717,396) 1,247,637
Other income
(expenses):
Interest expense (403,231) (430,639) (375,445)
Other income
(expenses), net 717,759 586,428 (5,461)
Total other
income
(expenses),
net 314,528 155,789 (380,906)
(Loss) income before
provision for
income taxes (1,041,828) (1,561,607) 866,731
Income tax (benefit)
expense (26,249) (187,720) 252,611
Net (loss) income (1,015,579) (1,373,887) 614,120
Less: net loss
attributable to
non-controlling
interests (2,004) (2,746) (2,698)
Net (loss) income
attributable to
ordinary
shareholders $(1,013,575) $(1,371,141) $ 616,818
Comprehensive
(loss) income
Net (loss) income $(1,015,579) $(1,373,887) 614,120
Foreign currency
translation
(loss) gain (19,923) 79,844 (417,717)
Total
comprehensive
(loss) income (1,035,502) (1,294,043) 196,403
Comprehensive
(loss) income
attributable to
non-controlling
interests (1,730) (3,558) 1,677
Comprehensive (loss)
income attributable
to ordinary
shareholders $(1,033,772) $(1,290,485) $ 194,726
(Loss) earnings per
ordinary share
-- Basic and diluted $ (0.06) $ (0.08) $ 0.04
Weighted average
number of ordinary
shares outstanding
-- Basic and diluted 18,183,518 17,000,000 17,000,000
LI BANG INTERNATIONAL CORPORATION INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended
June 30,
----------------------------------------
2025 2024 2023
----------- ----------- ------------
Cash flows from
operating
activities:
Net (loss) income $(1,015,579) $(1,373,887) $ 614,120
Adjustments to
reconcile net (loss)
income to net cash
used in operating
activities:
Depreciation and
amortization 426,992 460,720 498,650
(Gain) loss on
disposal of
property and
equipment (15,400) (14,839) 547
Provision for
expected credit
losses 995,725 1,084,649 1,213,483
Deferred tax
benefit (159,153) (93,655) (223,230)
Changes in operating
assets and
liabilities:
Accounts
receivable (738,705) (391,851) (5,049,769)
Notes receivable 142,013 (172,208) 14,694
Advances to
suppliers 65,524 (201,638) (299,526)
Inventories 228,794 (182,119) 460,389
Due from related
parties - - 297,666
Prepaid expenses
and other current
assets (181,905) 35,262 (195,641)
Accounts payable (598,063) 273,650 1,054,719
Advances from
customers (95,754) (16,578) 294,836
Taxes payable 6,787 (102,435) 639,275
Due to related
parties 79,486 (26,077) 85,253
Other payables and
other current
liabilities (67,429) 74,527 (39,880)
---------- ---------- -----------
Net cash used in
operating
activities (926,667) (646,479) (634,414)
---------- ---------- -----------
Cash flows from
investing
activities:
Loans to third
parties (4,515,050) - -
Purchases of
property and
equipment (273,823) (104,523) (175,962)
Proceeds from
disposal of
property and
equipment 25,556 17,334 144
Refund of the land
use right
payment 1,396,668 - -
Purchases of fixed
deposits - - (2,737,161)
---------- ---------- -----------
Net cash used in
investing
activities (3,366,649) (87,189) (2,912,979)
---------- ---------- -----------
Cash flows from
financing
activities:
Proceeds from
loans 8,393,972 7,969,044 14,461,012
Repayments of
loans (8,435,872) (7,422,258) (10,425,427)
Payment of
offering costs (188,119) (127,300) (91,238)
Net proceeds from
initial public
offering 5,368,773 - -
---------- ---------- -----------
Net cash provided by
financing
activities 5,138,754 419,486 3,944,347
---------- ---------- -----------
Effect of foreign
exchange rate on
cash (80) 7,262 (27,857)
---------- ---------- -----------
Net increase
(decrease) in cash
and restricted cash 845,358 (306,920) 369,097
Cash and restricted
cash at the
beginning of the
year 234,207 541,127 172,030
---------- ---------- -----------
Cash and restricted
cash at the end of
the year $ 1,079,565 $ 234,207 $ 541,127
========== ========== ===========
Reconciliation of
cash and
restricted cash
Cash $ 933,826 $ 153,914 $ 76,019
Restricted cash 145,739 80,293 465,108
---------- ---------- -----------
Total cash and
restricted cash
shown in the
statements of
cash flows $ 1,079,565 $ 234,207 $ 541,127
========== ========== ===========
Supplemental
disclosures of cash
flow information:
Interest paid $ 400,617 $ 425,736 $ 375,286
========== ========== ===========
Income taxes paid $ 53,646 $ 59 $ 167,010
========== ========== ===========
Non-cash
transactions:
Reclassification
of deferred
offering cost $ 585,755 $ - $ -
========== ========== ===========
(END) Dow Jones Newswires
November 07, 2025 11:42 ET (16:42 GMT)