AOM International Group Company Limited (AOM INT'L) reported a net loss attributable to shareholders of HK$121.75 million for the year ended 31 December 2025, widening 43.9% from the HK$84.63 million loss booked a year earlier. Basic and diluted loss per share narrowed to 14.17 HK cents from 24.83 HK cents, reflecting the enlarged share base after equity issuances during the year.
Revenue fell 22.3% to HK$300.64 million (2024: HK$386.66 million) as the core toys-and-gifts segment recorded an 18.5% contraction to HK$195.44 million and Chinese-herbs sales declined 42.9% to HK$54.36 million. Wine turnover slipped 8.0% to HK$47.50 million, while the new food-and-beverage trading arm contributed HK$3.35 million following the October 2025 acquisition of a 65% stake in Heilongjiang Yingli.
Gross profit retreated 23.6% to HK$108.20 million; gross margin eased to 36.0% from 36.7% amid higher production and logistics costs. Operating profitability was further pressured by a HK$46.36 million share of losses from associates—principally the fruit-plantation and leisure ventures—and finance costs that rose 10.0% to HK$31.80 million.
Total assets slipped to HK$769.72 million (2024: HK$796.61 million), while net assets fell 12.3% to HK$336.29 million. Cash and bank balances increased to HK$156.22 million, but the Group ended the year with net current liabilities of HK$26.58 million and total borrowings of HK$203.03 million. Convertible bonds of HK$46.81 million are classified as current. The gearing ratio stood at 72% (2024: 68%).
The auditor issued an unqualified opinion accompanied by a material-uncertainty paragraph, citing a HK$111.19 million annual loss, the net current liability position and defaults on secured other borrowings of HK$63.86 million plus accrued interest of HK$37.85 million. Management is negotiating loan extensions, obtained a shareholder undertaking to defer HK$37.52 million of debt until 31 March 2027, and is exploring equity or hybrid fund-raising options.
Capital moves during the year included a July 2025 share subscription that issued 157.80 million new shares at HK$0.4309 each, offsetting HK$68 million in outstanding convertible bonds and generating a HK$15.63 million loss on debt extinguishment.
No final dividend was proposed for 2025, consistent with the prior year.
Looking ahead, the Board said it will continue to review existing operations and seek diversification opportunities to stabilise earnings and strengthen its financial position.
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