Ocean Star Technology Group Limited (the “Company”), trading under stock code 08297, reported revenue of HK$29.53 million for the year ended 31 March 2025, representing a 23.80% decrease from the previous year. Cost of sales amounted to HK$5.84 million, contributing to a gross profit of HK$23.69 million and a gross profit margin of approximately 80.30%. A net loss of HK$30.02 million was recorded, with no final dividend recommended.
Management attributes the revenue decline to weak consumer sentiment in Hong Kong, ongoing inflation, and global uncertainties. To address these pressures, the Company focused on cost control and continued exploring potential acquisitions and expanded marketing channels, particularly in Mainland China. The entity’s money-lending segment maintained around HK$3.70 million in loan receivables as of 31 March 2025, with no new loans issued during the period.
Two share placements occurred during the reporting year. In June 2024, 41.83 million shares were placed at HK$0.10 per share, generating net proceeds of HK$4.00 million. In December 2024, 215.50 million shares were issued at HK$0.04 per share, resulting in net proceeds of HK$8.36 million. These funds were fully utilized for business development, repayment of payables, and general working capital, helping to strengthen the Group’s financial position despite net liabilities of HK$25.86 million and net current liabilities of HK$26.12 million at year-end.
Several changes in leadership and board appointments took place. The chairman’s role was assumed by a new Executive Director in December 2025, with additional appointments and resignations reshaping the governance framework. The Board remains supported by an Audit Committee, Nomination Committee, and Remuneration Committee, each comprising members with diverse professional backgrounds. The Group’s auditors issued an unmodified opinion on the consolidated financial statements but highlighted a material uncertainty regarding its going concern status.
Looking ahead, the Company states it will continue enhancing operational efficiency, refining its product portfolio in lingerie and related segments, and maintaining prudent resource allocation. Measures include closely monitoring market developments, consolidating its retail network, and managing cost structures. Although the retail climate remains challenging, management believes that the strengthened capital structure and strategic focus on market expansion position the Group to pursue suitable business opportunities while upholding compliance with the GEM Listing Rules.
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