New Amante Group Limited (NEW AMANTE) released its audited results for the year ended 31 May 2026, highlighting a sharp contraction in revenue and a wider net loss amid the shutdown of two key lounges.
Revenue fell 52.80% to HK$18.32 million, down from HK$38.84 million a year earlier, after LKF Lounge and Amante House ceased operations on 31 January 2026 and 9 December 2025 respectively upon lease expiry.
The group recorded a net loss of HK$5.73 million, versus a HK$3.82 million loss in FY2025. Loss before tax widened to HK$5.97 million (FY2025: HK$1.75 million). Basic and diluted loss per share increased to HK$0.0622 (FY2025: HK$0.0426). No dividend was declared.
Other income and gains dropped to HK$2.98 million (FY2025: HK$9.94 million). Cash and bank balances stood at HK$0.55 million, with a current ratio of 0.95 (FY2025: 1.06). The group reported no borrowings as at 31 May 2026, compared with HK$0.80 million a year earlier, resulting in a zero gearing ratio (FY2025: 13.6%).
Equity attributable to owners contracted to HK$1.07 million from HK$8.68 million.
BDO Limited issued a disclaimer of opinion on the FY2026 financial statements, citing material uncertainty over the group’s ability to continue as a going concern. Management has prepared an 18-month cash-flow forecast and outlined measures to strengthen liquidity, including:
• a HK$20 million shareholder loan facility (undrawn at year end); • HK$7 million in director support between June 2025 and May 2026; • a HK$6 million share subscription completed in August 2026; • HK$5 million cash inflows from a cigar shop disposal and supplier refund in August 2026; • ongoing cost controls and the planned September 2026 opening of a new cigar and wine lounge in Wan Chai; • intended resumption of Hong Kong restaurant operations and potential further fundraising.
Post year-end, the company issued 24.45 million new shares at HK$0.245 each, raising gross proceeds of HK$5.99 million (net: HK$5.89 million), of which HK$4.41 million has been allocated to working capital.
New Amante’s board remains “cautiously optimistic,” citing the forthcoming lounge launch and strategic refocus on Hong Kong as drivers for future performance while it seeks to resolve the going-concern issue flagged by the auditor.
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