Raytech Holding Limited Announces Fiscal Year 2026 Financial Results and the Filing of Its Annual Report on Form 20-F

Revenue Grew 81.1% to HK$142.6 Million (US$18.2 Million); Net Income Increased 101.9% to HK$16.7 Million (US$2.1 Million); New Service Businesses Contributed 31.0% of Total Revenue

HONG KONG, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Raytech Holding Limited (NASDAQ: RAY) ("Raytech", "We", "Our" or the "Company"), a Hong Kong-based group operating in the sourcing and wholesaling of personal care electrical appliances, product design, development and advisory services in relation to personal health care electronics, and marketing solutions services, today announced financial results for the fiscal year ended March 31, 2026, and confirmed the filing of its annual report on Form 20-F with the U.S. Securities and Exchange Commission ("SEC").

Raytech delivered a transformational fiscal year 2026, with revenue increasing by 81.1% to HK$142.6 million (US$18.2 million) and net income increasing by 101.9% to HK$16.7 million (US$2.1 million), representing a net margin of 11.7%. During the year, the Company expanded from a single-subsidiary trading business into a group of three operating subsidiaries in Hong Kong, adding two new service businesses — product design, development and advisory services conducted by Raytech Innovation Limited ("Raytech Innovation"), and marketing solutions services conducted by Worry free Group (Hong Kong) Limited ("Worry free") — which together contributed service income of HK$44.2 million (US$5.6 million), or 31.0% of total revenue, alongside a 26.2% increase in sales of products by Pure Beauty Manufacturing Company Limited ("Pure Beauty").

Financial Highlights

Key highlights for fiscal year 2026 compared to fiscal year 2025:

Revenue increased by 81.1% to HK$142.6 million (US$18.2 million), principally reflecting new service income of HK$44.2 million (US$5.6 million) from Raytech Innovation and Worry free and a 26.2% increase in sales of products by Pure Beauty
Net income increased by 101.9% to HK$16.7 million (US$2.1 million), with a net margin of 11.7%, compared with 10.5% in fiscal year 2025
Income from operations increased by 135.7% to HK$18.0 million (US$2.3 million), with an operating margin of 12.6%, compared with 9.7% in fiscal year 2025
Three reportable segments following the commencement of Raytech Innovation’s business operation on October 1, 2025 and the acquisition of Worry free on December 29, 2025: appliances (69.01% of total revenue), product design, development and advisory services (15.38%), and marketing solutions services (15.60%)
Cash and cash equivalents of HK$78.0 million (US$10.0 million) as of March 31, 2026, with net current assets of HK$97.1 million (US$12.4 million), up from HK$76.9 million as of March 31, 2025
Liquidity further strengthened subsequent to year end by a June 2026 registered direct offering that raised net proceeds of approximately US$6.08 million under the Company’s Form F-3 shelf registration statement

Financial Results

Revenue Performance:

Total revenue increased by 81.1% to HK$142,629,085 (US$18,192,485) in fiscal year 2026 from HK$78,739,564 in fiscal year 2025
Sales of products increased by 26.2% to HK$95,591,499 (US$12,192,793) from HK$75,769,626, primarily attributable to an increase in sales of the hair styling series arising from new models engaged from customers
Sales of tooling: decreased by 4.3% to HK$2,843,350 (US$362,672) from HK$2,969,938, as fewer new tooling programs were engaged during the year
Service income: HK$44,194,236 (US$5,637,020) in fiscal year 2026, comprising HK$13,960,185 (US$1,780,636) from product design and development services and HK$7,983,051 (US$1,018,246) from project advisory services of Raytech Innovation, which commenced business operation on October 1, 2025, and HK$22,251,000 (US$2,838,138) from marketing solutions services of Worry free for the period from December 29, 2025 to March 31, 2026

Profitability and Margins:

Merchandise costs of HK$73,587,672 (US$9,386,183) in fiscal year 2026, representing 51.6% of revenue, compared to HK$60,931,870, or 77.4% of revenue, in fiscal year 2025; the increase in absolute terms was in line with the increase in sales of products
Service costs of HK$29,423,000 (US$3,752,934) in fiscal year 2026, comprising HK$10,100,000 for product design and development services and HK$4,700,000 for project advisory services incurred by Raytech Innovation, and HK$14,623,000 for marketing solutions services incurred by Worry free
Selling, general and administrative expenses of HK$21,587,387 (US$2,753,493) in fiscal year 2026, compared to HK$10,158,945 in fiscal year 2025
Income from operations of HK$18,031,026 (US$2,299,875) in fiscal year 2026, with an operating margin of 12.6%, driven principally by the commencement of the service businesses and the increase in sales of products, partially offset by the increase in selling, general and administrative expenses
Basic and diluted earnings per share of HK$7.19 (US$0.92) in fiscal year 2026, compared to HK$7.60 in fiscal year 2025, retroactively restated to reflect the sixteen-for-one share consolidation effective on November 7, 2025

Balance Sheet and Cash Flow:

Cash and cash equivalents of HK$78,032,891 (US$9,953,175) as of March 31, 2026, compared to HK$84,850,995 as of March 31, 2025
Net current assets increased to HK$97,073,067 (US$12,381,769) as of March 31, 2026, compared to HK$76,945,817 as of March 31, 2025
Accounts receivable increased to HK$67,775,993 (US$8,644,897) as of March 31, 2026, primarily attributable to the newly commenced and acquired service businesses; as of the date of the Annual Report, the accounts receivable outstanding as of March 31, 2026 had been fully settled
Net cash used in operating activities of HK$14,511,287 (US$1,850,928) in fiscal year 2026, principally reflecting the build-up of accounts receivable of the newly commenced and acquired service businesses towards the year end, which management expects to unwind as those receivables are settled
Net cash generated from financing activities of HK$34,805,809 (US$4,439,517) in fiscal year 2026, primarily comprising net proceeds of US$4,682,910 from the follow-on offering completed on July 1, 2025

Fiscal Year 2026 Corporate Developments

Follow-on public offering (July 1, 2025): closed a follow-on public offering at a public offering price of US$0.20 per share (equivalent to US$3.20 per share on a post-consolidation basis), for aggregate gross proceeds of approximately US$5.197 million; upon completion, the Company ceased to qualify as a "controlled company" under the Nasdaq listing rules
Share consolidation (November 7, 2025): effected a 1-for-16 share consolidation and subsequently regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2)
Shelf registration (December 18, 2025): shelf registration statement on Form F-3, registering the offer and sale of up to US$500,000,000 of securities from time to time, was declared effective by the SEC
Acquisition of Worry free (December 29, 2025): Raytech Innovation completed the acquisition of 100% of the issued share capital of Worry free, a marketing solutions company, for aggregate consideration of US$6,099,000, comprising US$4,099,000 in cash and a US$2,000,000 promissory note bearing interest at 2% per annum and maturing on the second anniversary of issuance
Board appointments (January 2, 2026): the Board approved the appointment of Mr. Yuan Tianfu as a director and Dr. Wang Shibin as an independent director of the Company
Strategic expansion: beginning in the third quarter of the fiscal year, the Company commenced a strategic expansion into the provision of services in relation to personal health care electronics, including product design, development and consultation, led by Raytech Innovation

Subsequent Events

Chairman appointment (April 15, 2026): Mr. Liu Haoyuan was appointed as a director and Chairman of the Board, and founder Mr. Ching Tim Hoi continues to serve as an executive director and Chief Executive Officer
Registered direct offering (June 29, 2026): closed a registered direct offering of 3,149,832 ordinary shares (on a post-share consolidation basis) at a price of US$1.97 per share, for aggregate gross proceeds of approximately US$6.2 million, pursuant to the Form F-3 shelf registration statement
Incorporation of Fluxen Limited (June 12, 2026): incorporated Fluxen Limited in Hong Kong, in which the Company holds 60% of the equity interest following an allotment to an independent third party on July 8, 2026; Fluxen is currently dormant and is intended to support the Group’s future export trading business

Outlook and Strategic Priorities

Building on over 10 years of experience in the personal care electrical appliance industry, the Company intends to continue the expansion of its service businesses, which contributed 31.0% of total revenue in their fiscal year ended March 31, 2026, while Pure Beauty continues to operate its established sourcing and wholesaling business in an ordinary-course capacity. The Company’s strategic focus includes the provision of product design, development and consultation services in relation to personal health care electronics, led by Raytech Innovation, and marketing solutions services through Worry free. The Company believes that its current levels of cash and cash flows from operations, further supported by the net proceeds of approximately US$6.08 million raised in June 2026, will be sufficient to meet its anticipated cash needs, including working capital needs and the repayment of the promissory note, for at least the next 12 months.

About Raytech Holding Limited

Raytech Holding Limited (Nasdaq:RAY) is a Hong Kong-based holding company with over 10 years of experience in the personal care electrical appliance industry. The Company operates three businesses through its operating subsidiaries in Hong Kong: (i) the sourcing and wholesaling of personal care electrical appliances for international brand owners, ranging from hair styling, trimmer, eyelash curler, and nail care to other body and facial care appliances, conducted by Pure Beauty Manufacturing Company Limited; (ii) the provision of product design and development services and project advisory services in relation to personal health care electronics, conducted by Raytech Innovation Limited; and (iii) the provision of marketing solutions services, conducted by Worry free Group (Hong Kong) Limited.

Forward-Looking Statement

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These forward-looking statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the "Risk Factors" section of the Company’s annual report on Form 20-F filed on July 31, 2026 with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

Media and Investor Relations Contact:

International Elite Capital
Annabelle Zhang
Tel: +1 (646) 866-7928
Email: annabelle@iecapitalusa.com


Consolidated Financial Information
RAYTECH HOLDING LIMITED CONSOLIDATED STATEMENTS OF INCOME

	For the Years ended March 31,
	2024		2025		2026		2026
	HKD		HKD		HKD		US$
REVENUE
Sales of products	59,966,287		75,769,626		95,591,499		12,192,793
Sales of tooling	7,006,014		2,969,938		2,843,350		362,672
Service income	–		–		44,194,236		5,637,020
Total revenue	66,972,301		78,739,564		142,629,085		18,192,485
OPERATING EXPENSES
Merchandise costs	(52,067,436	)	(60,931,870	)	(73,587,672	)	(9,386,183	)
Service costs	–		–		(29,423,000	)	(3,752,934	)
Selling, general and administrative expenses	(3,545,369	)	(10,158,945	)	(21,587,387	)	(2,753,493	)
Total operating expenses	(55,612,805	)	(71,090,815	)	(124,598,059	)	(15,892,610	)
INCOME FROM OPERATIONS	11,359,496		7,648,749		18,031,026		2,299,875
OTHER INCOME (EXPENSE)
Interest income	1,416,354		3,158,654		2,259,221		288,166
Interest expense	(2,028	)	–		(243,432	)	(31,050	)
Gain (loss) from foreign currency exchange	(20,846	)	(328,471	)	183,001		23,342
Government grants	–		–		109,863		14,013
Other income, net	818		45,922		6,432		821
Total other income, net	1,394,298		2,876,105		2,315,085		295,292
INCOME BEFORE INCOME TAX PROVISION	12,753,794		10,524,854		20,346,111		2,595,167
PROVISION FOR INCOME TAXES	(2,817,000	)	(2,256,487	)	(3,655,536	)	(466,267	)
NET INCOME	9,936,794		8,268,367		16,690,575		2,128,900
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES
Basic and diluted (1) (2)	1,000,000		1,087,401		2,320,001		2,320,001
EARNINGS PER SHARE
Basic and diluted (2)	9.94		7.60		7.19		0.92

(1) On a retroactively restated basis, 93,750 ordinary shares were issued on May 15, 2024, 7,068 ordinary shares were issued on July 5, 2024, and 1,624,062 ordinary shares were issued on July 1, 2025. (2) All share and per share data have been retroactively restated to reflect the sixteen (16)-for-one (1) share consolidation of the Company’s ordinary shares effective on November 7, 2025.

The accompanying notes in the Annual Report on Form 20-F are an integral part of these consolidated financial statements.


RAYTECH HOLDING LIMITED CONSOLIDATED BALANCE SHEETS

	As of March 31,
	2025	2026	2026
	HKD	HKD	US$
ASSETS
CURRENT ASSETS
Cash and cash equivalents	84,850,995	78,032,891	9,953,175
Accounts receivables, net	8,144,307	67,775,993	8,644,897
Merchandise inventories, net	1,879,435	–	–
Deposits and prepayments	–	22,777,913	2,905,346
TOTAL CURRENT ASSETS	94,874,737	168,586,797	21,503,418
NON-CURRENT ASSETS
Plant and equipment, net	–	–	–
Goodwill	–	43,789,000	5,585,332
Intangible asset, net	–	2,564,750	327,136
Deferred offering costs	–	1,094,969	139,664
Long-term deposits	16,200	6,200	791
TOTAL NON-CURRENT ASSETS	16,200	47,454,919	6,052,923
TOTAL ASSETS	94,890,937	216,041,716	27,556,341
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payables	466,327	41,946,701	5,350,344
Accounts payables - related parties	14,984,393	19,972,442	2,547,505
Accruals	1,786,314	2,763,756	352,520
Contract liabilities	501,804	789,927	100,756
Tax payables	190,082	1,420,277	181,158
Amount due to a related party	–	2,450,000	312,500
Amounts due to directors	–	2,170,627	276,866
TOTAL CURRENT LIABILITIES	17,928,920	71,513,730	9,121,649
NON-CURRENT LIABILITIES
Promissory note payable, non-current	–	14,551,432	1,856,050
Deferred tax liability	–	423,184	53,977
TOTAL NON-CURRENT LIABILITIES	–	14,974,616	1,910,027
TOTAL LIABILITIES	17,928,920	86,488,346	11,031,676
COMMITMENTS AND CONTINGENCIES	–	–	–
SHAREHOLDERS’ EQUITY
Ordinary Shares, US$0.0001 par value, 500,000,000 Ordinary Shares authorized, and 1,100,818 shares and 2,724,911 shares issued and outstanding as of March 31, 2025 and 2026, respectively (1)(2)	862	2,137	273
Additional paid-in capital	37,717,487	73,616,990	9,389,922
Retained earnings	39,243,668	55,934,243	7,134,470
TOTAL SHAREHOLDERS’ EQUITY	76,962,017	129,553,370	16,524,665
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	94,890,937	216,041,716	27,556,341

The accompanying notes in the Annual Report on Form 20-F are an integral part of these consolidated financial statements.


RAYTECH HOLDING LIMITED SUMMARY OF CONSOLIDATED CASH FLOWS INFORMATION

	For the years ended March 31,
	2024		2025		2026		2026
	HKD		HKD		HKD		US$
Cash and cash equivalents at the beginning of the period	21,362,580		35,885,666		84,850,995		10,906,438
Net cash generated from (used in) operating activities	15,748,279		6,220,534		(14,511,287	)	(1,850,928	)
Net cash generated from (used in) investing activities	846,860		145,166		(27,682,717	)	(3,530,959	)
Net cash (used in) generated from financing activities	(2,075,897	)	42,871,117		34,805,809		4,439,517
Effect of foreign exchange on cash, cash equivalents and restricted cash	3,844		(271,488	)	570,091		(10,893	)
Cash and cash equivalent at the end of the period	35,885,666		84,850,995		78,032,891		9,953,175

Note: Summary as presented in Item 5.B of the Annual Report on Form 20-F. The full Consolidated Statements of Cash Flows are set forth in the financial statements included in the Annual Report.

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