Plastec Technologies Reports Fiscal 2025 Financial Results
Plastec Technologies, Ltd. (OTCBB: PLTYF) (the “Company”) today reported audited financial results for the fiscal year ended December 31, 2025.
Balance Sheet Highlights at December 31, 2025*
- $5.4 million in cash and cash equivalents, compared to $5.7 million at December 31, 2024.
- $5.3 million in working capital, compared to $5.6 million at December 31, 2024.
- Book value per share of $0.41, 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 August 2025, the Company applied for voluntary liquidations of its BVI-incorporated subsidiaries: Viewmount Development Limited, Sun Ngai Spraying and Silk Print Co. Ltd., and Sun Terrace Industries Ltd. The documents for the liquidations were filed with the Registry on March 24, 2026. The voluntary liquidations were commenced on the same date, and are expected to be completed in approximately 7 weeks.
Upon the completion of the voluntary liquidations, Plastec Technologies, Ltd. would no longer have any subsidiaries, or operating activities.
Management Comments
Mr. Kin Sun Sze-To, Chairman of the Company, stated, “In 2025, we initiated the liquidation of our BVI-incorporated subsidiaries, as part of a strategic move toward gradually reducing and/or ultimately eliminating ongoing operations. With these actions commenced in March 2026, we now are in a better position to evaluate and pursue future opportunities. Our cash balance of $5.4 million as of 2025 year-end, supports our going forward plan.”
Forward Looking Statements
This press release contains “forward-looking statements.” These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.
PLASTEC TECHNOLOGIES, LTD. | ||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | ||||||||||
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated) | ||||||||||
Year ended December 31, | Year ended December 31, | Year ended December 31, | ||||||||
2023 | 2024 | 2025 | ||||||||
HK$ | HK$ | HK$ | ||||||||
Revenues | - | - | - | |||||||
Operating expenses, net | ||||||||||
Selling, general and administrative expenses – third parties | (3,084 | ) | (4,813 | ) | (2,885 | ) | ||||
Selling, general and administrative expenses – a related party | - | - | (850 | ) | ||||||
Other income | - | 118 | 64 | |||||||
Total operating expenses, net | (3,084 | ) | (4,695 | ) | (3,671 | ) | ||||
Loss from operations | (3,084 | ) | (4,695 | ) | (3,671 | ) | ||||
Interest income | 4,065 | 4,543 | 1,732 | |||||||
(Loss)/profit before income tax expense | 981 | (152 | ) | (1,939 | ) | |||||
Income tax expense | (1,047 | ) | (7,758 | ) | - | |||||
Net loss and comprehensive loss attributable to the Company’s shareholders | (66 | ) | (7,910 | ) | (1,939 | ) | ||||
Net loss per share: | ||||||||||
Weighted average number of ordinary shares | 12,938,128 | 12,938,128 | 12,938,128 | |||||||
Weighted average number of diluted ordinary shares | 12,938,128 | 12,938,128 | 12,938,128 | |||||||
Basic net loss per share | HK$(0.005 | ) | HK$(0.61 | ) | HK$(0.15 | ) | ||||
Diluted net loss per share | HK$(0.005 | ) | HK$(0.61 | ) | HK$(0.15 | ) |
PLASTEC TECHNOLOGIES, LTD. | ||||
CONSOLIDATED BALANCE SHEETS | ||||
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated) | ||||
December 31, | December 31, | |||
2024 | 2025 | |||
HK$ | HK$ | |||
ASSETS | ||||
Current assets | ||||
Cash and cash equivalents | 44,171 | 42,324 | ||
Total current asset | 44,171 | 42,324 | ||
Non-current asset | ||||
Property, plant and equipment, net | - | - | ||
Total non-current asset | - | - | ||
Total assets | 44,171 | 42,324 | ||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||
Current liabilities | ||||
Other payables and accruals – third parties | 538 | 480 | ||
Other payables and accruals – a related party | - | 150 | ||
Total current liabilities | 538 | 630 | ||
Total liabilities | 538 | 630 | ||
Commitments and contingencies | - | - | ||
Shareholders’ equity | ||||
Ordinary shares (U.S.$0.001 par value; 100,000,000 authorized, 12,938,128 and 12,938,128 shares issued and outstanding as of December 31, 2024 and 2025, respectively) | 101 | 101 | ||
Additional paid-in capital | 26,049 | 26,049 | ||
Accumulated other comprehensive income | (30 | ) | (30 | ) |
Retained earnings | 17,513 | 15,574 | ||
Total shareholders’ equity | 43,633 | 41,694 | ||
Total liabilities and shareholders’ equity | 44,171 | 42,324 |
PLASTEC TECHNOLOGIES, LTD. | |||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME | |||||||||
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated) | |||||||||
Year ended December 31, | Year ended December 31, | Year ended December 31, | |||||||
2023 | 2024 | 2025 | |||||||
HK$ | HK$ | HK$ | |||||||
Operating activities | |||||||||
Net loss | (66 | ) | (7,910 | ) | (1,939 | ) | |||
Changes in operating assets and liabilities: | |||||||||
Deposits, prepayment and other receivables | (715 | ) | 4,269 | - | |||||
Other payables and accruals | 398 | (635 | ) | 92 | |||||
Tax payables | 1,047 | (12,980 | ) | - | |||||
Net cash generated from/(used in) from operating activities | 664 | (17,256 | ) | (1,847 | ) | ||||
Investing activity | |||||||||
(Purchase)/Proceeds from disposal of plant and machinery | (7 | ) | 445 | - | |||||
Net cash (used in)/generated from investing activity | (7 | ) | 445 | - | |||||
Financing activity | |||||||||
Dividends paid | - | (35,321 | ) | - | |||||
Net cash used in financing activity | - | (35,321 | ) | - | |||||
Net increase/(decrease) in cash and cash equivalents | 657 | (52,132 | ) | (1,847 | ) | ||||
Cash and cash equivalents, beginning of year | 95,646 | 96,303 | 44,171 | ||||||
Cash and cash equivalents, end of year | 96,303 | 44,171 | 42,324 | ||||||
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||||||||
Interest income | 4,065 | 4,543 | 1,732 | ||||||
Hong Kong income taxes paid | - | 16,930 | - |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260420127000/en/
Plastec Technologies, Ltd.
HL Ning, Chief Financial Officer
ning@plastec.com.hk
INVESTOR RELATIONS:
The Equity Group Inc.
Alice Zhang, Associate
(212) 836-9610 / azhang@theequitygroup.com
Lena Cati, Senior Vice President
(212) 836-9611 / lcati@theequitygroup.com
NASDAQ: PLTYF
PLTYF Trading
0.0% G/L:
$0.022 Last:
280 Volume:
$0.022 Open:
