Financial Highlights for the First Half of Fiscal Year 2025
For the six months ended
Variance
February 28,2025
February 29,2024
Amount
Percentage
US$
US$
US$
%
(Unaudited)
(Unaudited)
Revenue
$
4,160,099
$
3,437,904
$
722,195
21.0
%
Cost of revenue
(3,113,028
)
(3,043,454
)
(69,574
)
2.3
%
Gross profit
1,047,071
394,450
652,621
165.5
%
Total operating expenses
(638,812
)
(558,345
)
(80,467
)
14.4
%
Income (loss) from operations
408,259
(163,895
)
572,154
(349.1
)%
Total other (expense) income, net
(100,999
)
30,765
(131,764
)
(428.3
)%
Income (loss) before income taxes
307,260
(133,130
)
440,390
(330.8
)%
Income tax (expense) benefit
(22,272
)
42,885
(65,157
)
(151.9
)%
Net income (loss)
$
284,988
$
(90,245
)
$
375,233
(415.8
)%
Our revenue increased by US$722,195 or 21.0%, from US$3,437,904 for the six months ended February 29, 2024 to US$4,160,099 for the six months ended February 28, 2025. Such increase was mainly attributable to the upward adjustment in our selling price of our food in August 2024 and the opening of one new restaurant located in Kwun Tong during the six months ended February 28, 2025.
Our overall gross profit increased by US$652,621 or 165.5%, from US$394,450 for the six months ended February 29, 2024 to US$1,047,071 for the six months ended February 28, 2025. Our overall gross profit margin increased from 11.5% for the six months ended February 29, 2024 to 25.2% for the six months ended February 28, 2025. Such increase in our overall gross profit and gross profit margin was mainly attributable to (i) the increase in our revenue as a result of the upward adjustment in our selling price of our food in August 2024 and the opening of one new restaurant located in Kwun Tong during the six months ended February 28, 2025 as stated above; and (ii) our successful negotiation with our suppliers and also sourcing new suppliers which supply us with the same quality of food and beverages but at a reduced cost, which led our cost of food and beverages remained relatively stable for the six months ended February 28, 2025, as compared to the six months ended February 29, 2024.
We reported net income of US$284,988 for the six months ended February 28, 2025 and net loss of US$90,245 for the six months ended February 29, 2024.
Financial Results for the First Half of Fiscal Year 2025
Revenue
Our revenue is generated from providing food and beverage to customers in our restaurants located in North Point, Kwun Tong, Mong Kok and Tsuen Wan. The following table sets forth the breakdown of our revenue by location of our restaurants for the six months ended February 28, 2025 and February 29, 2024, respectively:
For the six months ended
Variance
February 28,2025
February 29,2024
Amount
Percentage
US$
US$
US$
%
(Unaudited)
(Unaudited)
Revenue
