CMON Interim Report 2026: Revenue Up 7.3%, Net Loss Narrows to USD 2.08 Million

CMON Limited released unaudited results for the six months ended 30 June 2026.

Revenue rose 7.30% year-on-year to USD 3.68 million, driven mainly by a 30.82% increase in Asian sales to USD 2.04 million. Europe and the Americas contributed USD 0.98 million and USD 0.64 million, respectively.

Cost-control measures turned last year’s USD 0.76 million gross loss into a USD 0.46 million gross profit, lifting gross margin to 12.43% from –22.21% a year earlier. Selling and distribution expenses fell 52.99% to USD 0.86 million, while general and administrative expenses were cut 45.77% to USD 2.37 million.

Operating loss narrowed to USD 2.06 million from USD 6.93 million. After finance costs of USD 0.02 million, the period’s net loss attributable to shareholders was USD 2.08 million, a 70.18% improvement on 2025’s USD 6.98 million loss. Basic and diluted loss per share decreased to USD 0.03 from USD 0.12.

The balance sheet showed net liabilities of USD 4.46 million and net current liabilities of USD 7.34 million, largely reflecting contract liabilities of USD 7.57 million. Cash and bank balances stood at USD 0.50 million with no outstanding bank borrowings after repaying USD 1.16 million of debt during the period.

Operating cash outflow was USD 2.16 million, while investing activities generated USD 2.27 million, mainly from a USD 0.83 million gain on disposal of assets held for sale.

Financing initiatives included a February placing of 10.32 million new shares that raised net proceeds of approximately HKD 9.40 million (about USD 1.20 million). Post-period, a rights issue completed in September raised net proceeds of HKD 146.20 million (about USD 18.80 million).

Capital expenditure remained muted at USD 0.10 million for property, plant and equipment. Headcount was trimmed to 32 from 77, reducing staff costs to USD 1.10 million.

The Board declared no interim dividend. Management plans to use rights-issue proceeds for working-capital needs, fulfilment of contract liabilities, and selective game development, while continuing restructuring and cost-discipline measures.