Business
Phoenix Asia Holdings Limited Announces Unaudited Financial Results For The Six Months Ended September 30, 2025
Hong Kong, March 31, 2026 (GLOBE NEWSWIRE) -- Phoenix Asia Holdings Limited (“PHOE” or the “Company”) (Nasdaq: PHOE) is an exempted company with limited
About this update from Phoenix Asia Holdings Limited
[{"type":"text","content":"Hong Kong, March 31, 2026 (GLOBE NEWSWIRE) -- Phoenix Asia Holdings Limited (“PHOE” or the “Company”) (Nasdaq: PHOE) is an exempted company with limited liability incorporated under the laws of the Cayman Islands with no material operations of its own. The Company, through its indirectly wholly-owned operating subsidiary, Winfield Engineering (Hong Kong) Limited, is engaged in substructure works, such as site formation, ground investigation and foundation works in Hong Kong. The Company today announced its unaudited financial results for the six months ended September 30, 2025. First Half of 2025 Financial and Operating Highlights ●Total revenue decreased by 7.3% from US$3,789,610 to US$3,511,591 ●Gross profit decreased by 31.4% from US$1,080,232 to US$741,443 ●Net income and total comprehensive income decreased by 68.6% from US$631,441 to US$198,336 Mr. Chi Kin Kelvin Yeung , Chief Executive Officer of the Company, commented, “In our operating history of approximately 35 years, we have focused on providing substructure works. We take pride in our portfolio in substructure works. In the six months ended September 30, 2025 we continue to provide quality substructure works to our customers and expand our business. Leveraging our established track record, our expertise in substructure operations and our experienced management team, we believe we are well-positioned to capture the growth of the substructure works market in Hong Kong and expand our business.” FINANCIAL RESULTS Revenue Revenue decreased by 7.3% from US$3,789,610 for the six months ended September 30, 2024 to US$3,511,591 for the six months ended September 30, 2025. The decrease was primarily due to certain projects were completed for the year ended March 31, 2025. Cost of revenue Cost of revenue increased by 2.2% from US$2,709,378 for the six months ended September 30, 2024 to US$2,770,148 for the six months ended September 30, 2025. The increase was mainly due to additional work has been necessitated with variation orders for certain projects. Gross profit and gross profit margin The gross profits was US$741,443 for the six months ended September 30, 2025, as compared to the gross profit of US$1,080,232 for the six ended September, 2024, a decrease of US$338,789, or 31.4%. The decrease in gross profit was mainly attributable to additional work has been necessitated w...