Basetrophy Group FY 2025 Loss Widens on Halved Revenue Despite Improved Gross Margin

Basetrophy Group Holdings Limited released audited results for the year ended 31 December 2025. Revenue fell 49.8 % to HK$49.70 million, primarily reflecting a sharp contraction in foundation contracts.

The Group reported a net loss attributable to shareholders of HK$6.41 million, versus a HK$4.27 million loss a year earlier. Basic loss per share widened to 2.89 HK cents (2024: 2.48 HK cents).

Gross profit rose to HK$2.63 million (2024: HK$0.29 million) as gross margin expanded to 5.3 % from 0.3 %, aided by final-account revenue recognised on completed construction projects.

Operating performance by segment • Foundation and related works: revenue HK$49.42 million; segment loss HK$1.16 million. • Alcoholic-beverage trading: revenue HK$0.28 million; segment loss HK$4.02 million.

Key cost movements • Cost of sales decreased 52.3 % to HK$47.07 million, broadly mirroring the drop in turnover. • Administrative and other operating expenses fell 25.3 % to HK$13.12 million, reflecting lower staff and vehicle costs. • Finance costs declined 63.9 % to HK$0.49 million.

Non-operating items included a HK$3.85 million gain on disposal of machinery and a HK$1.77 million inventory impairment. Net provision for expected credit losses totalled HK$0.30 million.

Balance-sheet highlights • Cash and bank balances increased to HK$21.67 million (2024: HK$2.67 million). • Interest-bearing liabilities dropped to HK$3.21 million (2024: HK$9.90 million), trimming the gearing ratio to 5.3 %. • Net current assets improved to HK$54.27 million (2024: HK$38.06 million).

Capital movements The company placed 44.27 million new shares on 30 December 2025 at HK$0.437 each, raising gross proceeds of HK$19.35 million. Share capital stood at 265.61 million shares at year-end.

No final dividend was declared.

Corporate actions after year-end The board announced a change in trading board lot size from 20,000 to 5,000 shares, effective 16 April 2026.

Outlook Management remains “cautiously optimistic” and plans to deepen its Chenpi (dried citrus peel) trading business in Mainland China while prudently monitoring the alcoholic-beverage market. The Group will continue to focus on cost discipline and operational resilience amid an uncertain macroeconomic backdrop.