HONG KONG, Sept. 29, 2025 (GLOBE NEWSWIRE) — Creative Global Technology Holdings Limited (NASDAQ: CGTL) (the “Company”, “we”, “our”, “us” or “CGTL”), a company which recycles consumer electronic devices headquartered in Hong Kong, today announced its unaudited financial results for the six months ended March 31, 2025.
First Half Financial Results for Fiscal 2025 Compared to First Half Financial Results for Fiscal 2024
- Revenues were $12.2 million for the six months ended March 31, 2025, a 40.4% decrease from $20.5 million for the six months ended March 31, 2024;
- Gross profit was $1.5 million for the six months ended March 31, 2025, or 12.6% of revenues compared to $2.7 million, or 13.1% of revenues for the six months ended March 31, 2024;
- Net loss was $15.3million for the six months ended March 31, 2025, compared to net income $1.5 million for the six months ended March 31, 2024;
- Loss per basic and diluted share was $0.714 for the six months ended March 31, 2025 compared to Basic and diluted earnings per share $0.076 for the six months ended March 31, 2024; and
- Cash and cash equivalents were $0.2 million as of March 31, 2025, a 50.2% decrease from $0.4 million as of September 30, 2024.
“I am pleased to report the operating and financial performance of our company for the six months ended March 31, 2025,” stated Ms. Siu, CEO of CGTL. “Despite persistent macroeconomic pressures, our recent financial results reflect the broader trends faced by businesses worldwide. Nevertheless, we remain committed to pursuing sustainable growth and long-term success.”
“As we navigate ongoing market uncertainty, we will continue to implement targeted initiatives aimed at cost optimization, operational efficiency, and customer diversification. We remain firmly committed to driving innovation, achieving operational excellence, and delivering long-term value for all our stakeholders.” Ms. Siu concluded.
Unaudited Financial Results for the Six Months Ended March 31, 2025 and 2024 all in US$
| 2025 | 2024 | Change | Change | ||||||||||||
| Selected Consolidated Statements of Operations | |||||||||||||||
| Revenues | $ | 12,248,499 | $ | 20,533,531 | $ | (8,285,032 | ) | (40.4 | )% | ||||||
| Cost of goods sold | (10,700,185 | ) | (17,848,086 | ) | 7,147,901 | (40.1 | )% | ||||||||
| Gross profit | 1,548,314 | 2,685,445 | (1,137,131 | ) | (42.3 | )% | |||||||||
| Selling and marketing expenses | (15,429 | ) | (16,502 | ) | 1,073 | (6.5 | )% | ||||||||
| General and administrative expenses | (885,228 | ) | (772,714 | ) | (112,514 | ) | 14.6 | % | |||||||
| Share-based compensation | (15,776,500 | ) | – | (15,776,500 | ) | – | % | ||||||||
| Total operating expenses | (16,677,157 | ) | (789,216 | ) | (15,887,941 | ) | 2,013.1 | % | |||||||
| Income (Loss) from operations | (15,128,843 | ) | 1,896,229 | (17,025,072 | ) | (897.8 | )% | ||||||||
| Total other income (expenses), net | 11,367 | (2,398 | ) | 13,765 | 574.0 | % | |||||||||
| Income (Loss) before provision for income … | |||||||||||||||