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Plastec Technologies Reports Unaudited First Half 2025 Financial Results

via Business Wire

Plastec Technologies, Ltd. (OTCBB: PLTYF) (the “Company”) today reported unaudited financial results for the six months ended June 30, 2025.

Balance Sheet Highlights at June 30, 2025*

  • $5.5 million in cash and cash equivalents, compared to $5.7 million at December 31, 2024.
  • $5.4 million in working capital, compared to $5.6 million at December 31, 2024.
  • Book value per share of $0.42, compared to $0.43 at December 31, 2024.

* Balance Sheet highlights amounts are presented in U.S. dollars ($) based on a conversion rate of $1.0: HK$7.8, while financial tables/amounts at the end of this release are in Hong Kong dollars (HK$).

Recent Developments

As announced in April 2025, the Company has applied for the liquidation of its BVI-incorporated subsidiaries: Viewmount Development Limited, Sun Ngai Spraying and Silk Print Co. Ltd., and Sun Terrace Industries Ltd. While the liquidation of these assets is still ongoing, once completed, Plastec Technologies, Ltd., will no longer have any subsidiaries.

Management Comments

Mr. Kin Sun Sze-To, Chairman of the Company, stated, “We continued to maintain a lean corporate structure throughout the period. We are actively working to finalize the application process and complete the liquidation of non-core assets, an effort which reflects our commitment to monetizing assets that no longer align with our long-term strategic direction. At the same time, our clean balance sheet remains a key strength, providing us with the financial flexibility and resilience needed to pursue new opportunities as they arise.”

Forward Looking Statements

This press release contains “forward-looking statements.” These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.

PLASTEC TECHNOLOGIES, LTD.

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE

(LOSS)/INCOME (Unaudited)

(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)

 

 

 

 

 

 

 

For the six months

ended June 30,

 

 

 

 

 

2025

 

2024

 

 

 

 

 

HK$

 

HK$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

 

 

-

 

 

-

 

 

 

 

 

 

 

 

 

Operating expenses, net

 

 

 

 

 

 

 

General and administrative expenses

 

 

 

 

(2,074

)

 

(1,937

)

Total operating expenses, net

 

 

 

 

(2,074

)

 

(1,937

)

 

 

 

 

 

 

 

 

Loss from operations

 

 

 

 

(2,074

)

 

(1,937

)

 

 

 

 

 

 

 

 

Interest income

 

 

 

 

892

 

 

2,525

 

(Loss)/income before income tax expense

 

 

 

 

(1,182

)

 

588

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

 

 

-

 

 

(524

)

Net (loss)/income and comprehensive (loss)/income attributable to the Company’s shareholders

 

 

 

 

(1,182

 

)

 

64

 

 

 

 

 

 

 

 

 

 

Net (loss)/income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of ordinary shares

 

 

 

 

 

 

12,938,128

 

12,938,128

 

 

 

 

 

 

 

 

 

 

Weighted average number of diluted ordinary shares

 

 

 

 

 

 

12,938,128

 

12,938,128

 

 

 

 

 

 

 

 

 

 

Basic net (loss)/income per share attributable to the Company’s shareholders

 

 

 

 

 

 

(HK$0.091)

 

HK$0.005

 

 

 

 

 

 

 

 

 

 

Diluted net (loss)/income per share attributable to the Company’s shareholders

 

 

 

 

 

 

(HK$0.091)

 

HK$0.005

 

PLASTEC TECHNOLOGIES, LTD.

 

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)

 

 

 

 

(Unaudited)

 

June 30,

 

(Audited)

 

December 31,

 

 

 

2025

 

2024

 

 

 

HK$

 

HK$

ASSETS

Current assets

 

 

 

 

 

Cash and cash equivalents

 

 

42,798

 

44,171

Deposits, prepayment and other receivables

 

 

225

 

-

Total current assets

 

 

43,023

 

44,171

 

 

 

 

 

 

Total assets

 

 

43,023

 

44,171

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liability

 

 

 

 

 

Other payables and accruals

 

 

572

 

538

Total current liability

 

 

572

 

538

 

 

 

 

 

 

Total liability

 

 

572

 

538

 

 

 

 

 

 

Commitments and contingencies

 

 

-

 

-

 

 

 

 

 

 

Shareholders’ equity

 

 

 

 

 

Ordinary shares (US$0.001 par value; 100,000,000 authorized 12,938,128 and 12,938,128 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively)

 

 

101

 

101

Additional paid-in capital

 

 

26,049

 

26,049

Accumulated other comprehensive income

 

 

(30)

 

(30)

Retained earnings

 

 

16,331

 

17,513

Total shareholders’ equity

 

 

42,451

 

43,633

 

 

 

 

 

 

Total liability and shareholders’ equity

 

 

43,023

 

44,171

PLASTEC TECHNOLOGIES, LTD.

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)

 

 

 

 

 

 

 

 

For the six months

ended June 30,

 

 

 

 

 

2025

 

2024

 

 

 

 

 

HK$

 

HK$

Operating activities

 

 

 

 

 

 

 

 

Net (loss)/income

(1,182

)

64

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments to reconcile net (loss)/income to net cash used in /provided by operating activities:

 

 

 

 

 

 

 

Depreciation and amortization

 

 

 

 

-

 

 

36

 

Changes in operating assets and liabilities:

 

 

 

 

 

 

 

Deposits, prepayment and other receivables

 

 

 

 

(225

)

 

(749

)

Other payables and accruals

 

 

 

 

34

 

 

(735

)

Tax payables

 

 

 

 

-

 

 

523

 

Net cash used in operating activities

 

 

 

 

(1,373

)

 

(861

)

 

 

 

 

 

 

 

 

Investing activity

 

 

 

 

 

 

 

Purchase of plant and machinery

 

 

 

 

-

 

 

(370

)

Net cash used in investing activity

 

 

 

 

-

 

 

(370

)

 

 

 

 

 

 

 

 

Net decrease in cash and cash equivalents

 

 

 

 

(1,373

)

 

(1,231

)

 

 

 

 

 

 

 

 

Cash and cash equivalents, beginning of period

 

 

 

 

44,171

 

 

96,303

 

Cash and cash equivalents, end of period

 

 

 

 

42,798

 

 

95,072

 

 

 

 

 

 

 

 

 

SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION:

 

 

 

 

 

 

 

Interest received

 

 

 

 

892

 

 

2,525

 

 

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